Aerial Work Platform (AWP) Truck Market to Reach $ 8003.7 Million by 2022: Radiant Insights, Inc.
(firmenpresse) - SAN FRANCISCO, CA -- (Marketwired) -- 10/27/15 -- Global Aerial Work Platform (AWP) truck market is expected to be valued at USD 8,003.7 million by 2022, as per a new research report by Radiant Insights, Inc. Rapid infrastructure growth due to rising real estate investment is expected to drive the industry.
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.
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.
Highly fragmented global AWP truck industry consists of key companies such as Terex Corporation, Aichi Corporation, Haulotte and Tadano among others.
For the purpose of this research report, Radiant Insights has segmented the Global AWP truck on the basis of product, end-use and region:
Boom Lifts
Scissor Lifts
Vertical Mast Lifts
Personnel
Portable Lifts
Construction
Telecommunication
Transport & Logistics
Government
North America
Europe
Asia Pacific
Latin America
MEA
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Michelle Thoras
Corporate Sales Specialist, USA
Radiant Insights, Inc
Phone: 1-415-349-0054
Toll Free: 1-888-202-9519
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Datum: 27.10.2015 - 13:00 Uhr
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