San Francisco, Nov. 02, 2015 (GLOBE NEWSWIRE) -- Global Aerial Work Platform (AWP) truck market is expected to be valued at USD 8,003.7 million by 2022. Rapid infrastructure growth due to rising real estate investment is expected to drive the industry.
Aerial Work Platform (AWP) Truck Market is anticipated to witness significant growth owing to increasing construction and public infrastructure spending in North America and Europe. Increasing applications in mining as well as in construction sector owing to complex structural design and risk involved in work is likely to boost global growth. Incorporation of attributes such as safety, maneuverability and easy handling is anticipated to propel the industry. Lack of skilled technicians is likely to hinder the market growth.
Boom lifts were a foremost segment, with valuation of over USD 750 million in 2014. It is expected to grow at a CAGR of 18.7% by 2022. Increasing installation and maintenance is expected to drive demand for scissor lifts, estimated to grow at a CAGR of 18.3% by 2022. Flexibility and enhanced comfort level are factors likely to promote its demand. Increasing investments in maintenance service is anticipated to present potential opportunities for industry participants.
The report “Aerial Work Platform (AWP) Truck Market Size, Report, 2022” is available now to Radiant Insights customers and can also be purchased directly at
Key report insights suggest:
- Global AWP truck market size was estimated at USD 2,090.4 million in 2014 and is expected to register USD 8,003.7 million by 2022, growing with an estimated CAGR of 18.3% from 2015 to 2022
- North America aerial work platform truck market dominated global demand with an industry share of 31.10% in 2014, growing at a CAGR of 18.5% from 2015 to 2022. Growing use of aerial work platform trucks for maintenance and repairs activities are factors responsible for the growth of the region.
- Asia Pacific aerial work platform truck market was valued at 26.18% in 2014 and is expected to be the fastest growing region. It is likely to grow at a CAGR of 18.7% from 2015 to 2022. Increasing infrastructure development coupled with developing telecommunication sector is anticipated to fuel market demand in the region.
- Construction applications were largest as well as fastest growing industry segment, estimated to reach USD 2,862.5 million by 2022, growing at a CAGR of 18.7% from 2015 to 2022.
- Telecommunication sector is anticipated to be the second largest end use segment and it is expected to attain USD 2,068.0 million by 2022. It is estimated to grow at a CAGR of 18.6% from 2015 to 2022.
- Highly fragmented global AWP truck industry consists of key companies such as Terex Corporation, Aichi Corporation, Haulotte and Tadano among others.
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Global AWP Truck Product Overview (Revenue, USD Million, 2012 - 2022)
- Boom Lifts
- Scissor Lifts
- Vertical Mast Lifts
- Portable Lifts
Global AWP Truck End-Use Overview (Revenue, USD Million, 2012 - 2022)
- Transport & Logistics
Global AWP Truck Region Overview (Revenue, USD Million, 2012 - 2022)
- North America
- Asia Pacific
- Latin America
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