Global Aerial Work Platform Market

Aerial Work Platform Market Size, Share, Growth Analysis, By Product(Boom Lifts, Scissor Lifts, and Vertical Lift), By Propulsion Type(ICE, Electric, Air), By Lifting Height(Less than 20 ft, 21-50 ft, and more than 51 ft), By Application(Construction, Utilities, Logistics & Transportation, and Others) - Industry Forecast 2024-2031


Report ID: SQMIG20G2023 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 118 | Figures: 77

Aerial Work Platform Market Insights

Global Aerial Work Platform Market size was valued at USD 17.46 billion in 2022 and is poised to grow from USD 19.01 billion in 2023 to USD 37.61 billion by 2031, growing at a CAGR of 8.90% during the forecast period (2024-2031). 

The primary driver of the market is the expansion of the building industry, particularly in developing nations. Rapid urbanization, growth in infrastructure projects, and the need to maintain and repair existing structures have spurred the demand for effective and safe aerial lifts. These platforms allow workers to readily access elevated places, increasing productivity and safety requirements on building projects. Aerial Work Platforms (AWPs) provide access to difficult regions for people, equipment, or an amalgamation of both.

They are mostly used in building and upkeep work across a variety of industries, assisting with duties such as product placement, product storage in warehouse units, and various other applications. The usefulness and effectiveness of AWPs have been greatly improved as a result of technological developments. Innovative features such as telescoping booms, flexible arms, self-leveling abilities, and modern control systems are being incorporated by manufacturers. These advancements have broadened the uses of AWPs while also improving their general performance, rendering them more appealing to end users. In industrialized countries, for example, automated warehouses have grown in popularity, necessitating the employment of several single-scissor lifts, double-scissor lifts, & various lifting tables for product & pallet placement.

Major finance and investment in warehouse building construction by various e-commerce & logistics enterprises worldwide contribute considerably to total industry growth. The AWP market is influenced by economic and geopolitical issues. Economic downturns, recessions, and foreign exchange rate variations can all have an influence on building and infrastructure construction endeavors, resulting in lower demand for AWPs. Furthermore, geopolitical conflicts, trade disputes, & regulatory uncertainty can disrupt global supply chains, making it difficult for manufacturers to get raw materials and efficiently deliver their goods.

The market is expected to increase significantly due to widespread product use in industries including transportation, logistics, sales, storage, building, and warehousing. Boom lifts are predicted to be in great demand due to their versatility, numerous applications, and maneuverability around obstacles, particularly for servicing electric utilities, communications, and building projects. As a result, the growing importance of efficient and safe elevated work solutions will drive up AWP demand over the forecast period.

Furthermore, the American National Standards Institute (ANSI) issued new requirements that apply to all aerial lift operators, owners, and supervisors, including scissor lifts, boom lifts, and under-bridge inspection devices. These standards are intended to increase safety precautions and to harmonize North American equipment requirements with international standards. Companies and equipment makers can improve their worldwide competitiveness by embracing these standards.

US Aerial Work Platform Market is poised to grow at sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 17.46 billion

Largest Segment

Scissor Lifts

Fastest Growth

Scissor Lifts

Growth Rate

8.90% CAGR

Global Aerial Work Platform Market ($ Bn)
Country Share for North America Region (%)
Global Aerial Work Platform Market By Type ($ Bn)
Global Aerial Work Platform Market By Type (%)

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Aerial Work Platform Market Segmental Analysis

The global aerial work platform market is segmented on the basis of product, propulsion type, lifting height, application, and region. In terms of product the market is segmented into boom lifts, scissor lifts, and vertical lifts. Based on propulsion type, the market is segmented into ICE, Electric, and Air. With respect to categorization by lifting height the market is segmented into Less than 20 ft, 21-50 ft, and more than 51 ft. Based on application, the market is segmented into construction, utilities, logistics & transportation, and others. Based on region, the global aerial work platform market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Aerial Work Platform Market Analysis by Product

Scissor lifts dominated the market in 2023, accounting for over 46.0% of global revenue share. This segment's growth can be attributed to the scissors lift's low cost and high efficiency in operation due to its small size and ability to perform quick loading operations. Scissor lifts are frequently employed for material positioning & vertical lifting, with design features that boost worker productivity while reducing industrial injuries. These advantageous attributes significantly contribute to the market's rise.

However, the expanding lifts category is predicted to grow at the fastest rate during the forecast period. Regular upkeep and repairs at elevated heights is required for industrial structures such as factories, warehouses, and power plants. Boom lifts provide technicians and workers with a safe and effective way to access & service machinery, tools, and infrastructure. The industrial sector's demand for boom raises is being fueled by an increasing emphasis on preventative care and compliance to safety standards. As a result, such elements are expected to give chances for growth.

Aerial Work Platform Market Analysis by Application

The building segment led the market in 2023 with a share of more than 56.0% and is predicted to grow at the fastest CAGR during the forecast period. Accessing higher heights on construction sites necessitates the use of difficult terrain aerial platforms. These facilities are prone to mishaps involving personnel working at great heights. When compared to traditional systems, AWPs provide greater safety & flexibility to employees and operators. Rising construction activity in developing countries such as China, India, and Brazil are likely to fuel AWP demand. Workers can access lofty regions using AWPs instead of ladders, scaffolding, which is or other unsafe ways.

The transport and logistics industries are expected to increase at high CAGRs over the projection period. The expanding number of supermarkets and the e-commerce business have expanded the number of warehouses & logistic centers throughout the world. Growing e-commerce firms and fast globalization have increased trade activity around the world, which is likely to stimulate demand for AWPs. Furthermore, production facilities necessitate periodic maintenance and repair. These facilities require an AWP platform to perform repairs on machinery & material handling equipment. AWPs increase access to areas that are hard to reach in factories and other commercial settings.

Global Aerial Work Platform Market By Type, 2023 (%)

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Aerial Work Platform Market Regional Insights

North America has a significant share of the market of more than 38.0% in 2023. This expansion might be ascribed to the fast-growing investments in the building of various business and residential complexes. Furthermore, the IT and telecom sectors in the United States and Canada are anticipated to promote the use of AWPs for setting up telecommunications towers and servicing and repairing operations at great heights; thus, the growth of the supply chain and logistics industry has led to the creation of distribution centers, warehouses, and retail locations, augmenting the demand for AWPs. The US market is predicted to grow fast during the forecast period due to factors such as rapid investment in logistics businesses and rapid infrastructure development of renewable energy systems.

Asia Pacific is predicted to grow at the highest compound annual growth rate during the projection period. Asia Pacific is characterized by rising government investments in building infrastructure and the construction of decent housing for the region's expanding population, which is expected to add to AWP product demand.

Global Aerial Work Platform Market By Region, 2024-2031
  • Largest
  • Fastest

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Aerial Work Platform Market Dynamics

Aerial Work Platform Market Drivers

Increasing Construction and Infrastructure Development

  • The growth of the aerial work platform market is driven by the increasing construction activities and infrastructure development projects worldwide. Aerial work platforms provide efficient and safe access to heights, facilitating construction, maintenance, and repair tasks.

Growing Maintenance and Repair Activities

  • The need for regular maintenance and repair of infrastructure, industrial facilities, and utilities is contributing to the demand for aerial work platforms. These platforms enable workers to reach elevated areas and carry out tasks such as equipment maintenance, painting, and cleaning efficiently.

Aerial Work Platform Market Restraints

High Initial Investment

  • The capital-intensive nature of aerial work platforms poses a restraint to market growth. The cost of purchasing new equipment or maintaining a fleet of aerial work platforms can be significant, limiting the adoption of these machines, especially for small and medium-sized enterprises.

Stringent Regulatory Standards

  • Compliance with stringent safety and environmental regulations poses challenges to manufacturers and users of aerial work platforms. Adhering to regulations related to equipment design, operator training, and emissions can increase costs and complexity, restraining market growth.

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Aerial Work Platform Market Competitive Landscape

Key manufacturers place a strong emphasis on providing quality-certified technology to ensure worker safety and protection. Companies are additionally making investments in the research and development of high-quality AWPs. Furthermore, industry participants engage in mergers and acquisitions to broaden their footprint and increase market share. For example, MEC announced the release of the new electric NANO10-XD in February 2023. Using its all-electric lift, steer, & drive system, this compact lift is meant to reduce environmental impact by reducing the chance of oil leaks.

Aerial Work Platform Market Top Player’s Company Profiles

  • Genie (Terex Corporation)
  • Haulotte Group
  • Skyjack (Linamar Corporation)
  • Snorkel
  • Niftylift
  • Teupen
  • Manitou Group
  • Holland Lift International B.V.
  • Riwal
  • Bronto Skylift
  • CTE Group
  • Tadano Ltd.
  • Ruthmann GmbH & Co. KG
  • Dinolift Oy
  • Socage Srl
  • Oil & Steel
  • Platform Basket
  • Palfinger Platforms

Aerial Work Platform Market Recent Developments

  • In March 2024, German aerial lift manufacturer Ruthmann GmbH & Co. KG, teamed up with Time Manufacturing Inc., Waco, Texas, which will market Ruthmann truck-mounted aerials in North America, along with Time’s own Versalift and Condor aerial lifts. 
  • In March 2024, Manitou Group announced the launch of a new range of scissor lifts in order to offer innovative models in the most important segment of the market, and thus provide a complete range of self-propelled aerial work platforms. 
  • In February 2024, MEC announced the launch of the DualReach 85-J Boom for lifting, transporting and operation in out-of-reach areas of the jobsite. This equipment is capable of switching between Telescopic Mode and Articulated Mode. 
  • In March 2022, Haulotte teamed up with Jungheinrich AG, a producer of material handling machinery & aerial lift systems. The collaboration aims to open new retail and customer service centers in Norway. 
  • In October 2021, J.C. Bamford Excavators Limited's subsidiary, JCB India Pvt Ltd, introduced a new line of electric scissor lifts, including the S2632E, S1930E, S3246E, & S4046E. 

Aerial Work Platform Key Market Trends

  • Growing Demand for Electric Aerial Work Platforms: There is an increasing focus on environmental sustainability and reduced emissions in the construction and industrial sectors. As a result, there is a rising demand for electric aerial work platforms that offer zero or low emissions, reduced noise levels, and improved energy efficiency.
  • Adoption of Hybrid Aerial Work Platforms: Hybrid aerial work platforms, which combine electric and diesel power sources, are gaining popularity. These platforms offer the advantage of reduced fuel consumption and emissions while still providing the flexibility and extended operating times associated with diesel-powered equipment.
  • Technological Advancements: The aerial work platform market is witnessing technological advancements, including enhanced safety features, improved control systems, and the integration of IoT (Internet of Things) and telematics. These innovations enhance operator safety, productivity, and equipment efficiency, driving market growth.
  • Focus on Lightweight and Compact Designs: There is a growing demand for lightweight and compact aerial work platforms, particularly in urban areas and confined spaces where maneuverability is crucial. Manufacturers are developing smaller and more agile platforms that can navigate tight spaces without compromising on reach or lifting capacity.

Aerial Work Platform Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global aerial work platform market analysis, the primary driver is the expansion of the building industry, particularly in developing nations. Rapid urbanization, growth in infrastructure projects, and the need to maintain and repair existing structures have spurred the demand for effective and safe aerial lifts. These platforms allow workers to readily access elevated places, increasing productivity and safety requirements on building projects. Aerial Work Platforms (AWPs) provide access to difficult regions for people, equipment, or an amalgamation of both.

Report Metric Details
Market size value in 2023 USD 17.46 billion
Market size value in 2031 USD 37.61 billion
Growth Rate 8.90%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Boom Lifts, Scissor Lifts, and Vertical Lift
  • Propulsion Type
    • ICE, Electric, Air
  • Lifting Height
    • Less than 20 ft, 21-50 ft, and more than 51 ft
  • Application
    • Construction, Utilities, Logistics & Transportation, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Genie (Terex Corporation)
  • Haulotte Group
  • Skyjack (Linamar Corporation)
  • Snorkel
  • Niftylift
  • Teupen
  • Manitou Group
  • Holland Lift International B.V.
  • Riwal
  • Bronto Skylift
  • CTE Group
  • Tadano Ltd.
  • Ruthmann GmbH & Co. KG
  • Dinolift Oy
  • Socage Srl
  • Oil & Steel
  • Platform Basket
  • Palfinger Platforms
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Aerial Work Platform Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Aerial Work Platform Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Aerial Work Platform Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aerial Work Platform Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aerial Work Platform Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Aerial Work Platform Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Aerial Work Platform Market size was valued at USD 17.46 billion in 2022 and is poised to grow from USD 19.01 billion in 2023 to USD 37.61 billion by 2031, growing at a CAGR of 8.90% during the forecast period (2024-2031). 

Key manufacturers place a strong emphasis on providing quality-certified technology to ensure worker safety and protection. Companies are additionally making investments in the research and development of high-quality AWPs. Furthermore, industry participants engage in mergers and acquisitions to broaden their footprint and increase market share. For example, MEC announced the release of the new electric NANO10-XD in February 2023. Using its all-electric lift, steer, & drive system, this compact lift is meant to reduce environmental impact by reducing the chance of oil leaks. 'JLG Industries, Inc. (Oshkosh Corporation)', 'Genie (Terex Corporation)', 'Haulotte Group', 'Skyjack (Linamar Corporation)', 'Aichi Corporation', 'Snorkel', 'Niftylift', 'Teupen', 'Manitou Group', 'Holland Lift International B.V.', 'Riwal', 'Bronto Skylift', 'CTE Group', 'Tadano Ltd.', 'Ruthmann GmbH & Co. KG', 'Dinolift Oy', 'Socage Srl', 'Oil & Steel', 'Platform Basket', 'Palfinger Platforms'

The growth of the aerial work platform market is driven by the increasing construction activities and infrastructure development projects worldwide. Aerial work platforms provide efficient and safe access to heights, facilitating construction, maintenance, and repair tasks.

Growing Demand for Electric Aerial Work Platforms: There is an increasing focus on environmental sustainability and reduced emissions in the construction and industrial sectors. As a result, there is a rising demand for electric aerial work platforms that offer zero or low emissions, reduced noise levels, and improved energy efficiency.

North America has a significant share of the market of more than 38.0% in 2023. This expansion might be ascribed to the fast-growing investments in the building of various business and residential complexes. Furthermore, the IT and telecom sectors in the United States and Canada are anticipated to promote the use of AWPs for setting up telecommunications towers and servicing and repairing operations at great heights; thus, the growth of the supply chain and logistics industry has led to the creation of distribution centers, warehouses, and retail locations, augmenting the demand for AWPs. The US market is predicted to grow fast during the forecast period due to factors such as rapid investment in logistics businesses and rapid infrastructure development of renewable energy systems.

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Global Aerial Work Platform Market

Product ID: SQMIG20G2023

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