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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