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Truck-Mounted Aerial Work Platform (Awp) Market Analysis Europe, North America, APAC, Middle East and Africa, South America - US, UK, Germany, China, France - Size and Forecast 2024-2028

Truck-Mounted Aerial Work Platform (Awp) Market Analysis Europe, North America, APAC, Middle East and Africa, South America - US, UK, Germany, China, France - Size and Forecast 2024-2028

Published: Aug 2024 175 Pages SKU: IRTNTR45923

Market Overview at a Glance

$1.64 B
Market Opportunity
6.06%
CAGR
5.59
YoY growth 2023-2024(%)

Truck-mounted Aerial Work Platform Market Size 2024-2028

The truck-mounted aerial work platform market size is estimated to grow by USD 1.64 billion at a CAGR of 6.06% between 2023 and 2028.

  • Market expansion hinges on several key factors, including heightened government investments in infrastructure across the APAC region, rapid advancements within the power utility sector, and the adoption of truck-mounted AWPs as a viable alternative to traditional scaffolding. These elements collectively drive growth in industries reliant on elevated work platforms (AWPs), facilitating efficient construction and maintenance operations. Government spending on infrastructure in APAC stimulates demand for AWPs, supporting projects with elevated access requirements.
  • Simultaneously, the strong growth in the power utilities sector necessitates reliable and versatile AWPs for maintenance and installation tasks. The shift towards truck-mounted AWPs reflects industry trends toward enhanced mobility and flexibility in accessing challenging work environments. These developments underscore the pivotal role of AWPs in optimizing workflow efficiency and safety across various sectors, contributing to the overall expansion of the market for elevated work platforms.

What will be the Size of the Truck-mounted Aerial Work Platform Market During the Forecast Period?

Truck-Mounted Aerial Work Platform (Awp) Market Size

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How is the Truck-mounted Aerial Work Platform Market Segmented?

The truck-mounted aerial work platform market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

  • End-user Outlook 
    • Utility sector
    • Construction sector
    • Manufacturing and others
  • Product Type Outlook 
    • Boom lifts
    • Scissor lifts
    • Vertical mast lifts
    • Personnel portable lifts
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Brazil
      • Argentina

By End-user 

  • The utility sector segment will account for a major share of the market's growth during the forecast period. Truck-mounted AWPs are used during the construction of transmission grids, power generation facilities, renewable power generation, installations for electricity and heat generation, solar thermal power stations, biomass facilities, and wind power installations. 

Truck-Mounted Aerial Work Platform (Awp) Market Size

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  • The utility sector segment was valued at USD 2.07 billion in 2018. The power industry also requires truck-mounted AWPs for maintenance purposes, which are an essential but lesser-known aspect of operations at power generation sites around the world. The rising demand for energy is helping to support the growth in this sector of power production, which leads to a need for AWPs mounted on trucks.
  • The construction sector requires truck-mounted AWPs during construction and maintenance activities in residential buildings, commercial buildings, and various transportation infrastructure. The growing aging of infrastructure in developed economies and increased investment in infrastructure worldwide are expected to increase the world's spending on infrastructure development from 2023 to 27. Among the various infrastructure projects, transportation infrastructure is anticipated to be the fastest-growing segment during the forecast period. The increasing use of truck-mounted AWPs instead of scaffolding while carrying out the repair, maintenance, and refurbishment activities for construction is expected to boost the growth of the market in focus during the forecast period.

By Region

Truck-Mounted Aerial Work Platform (Awp) Market Share by Geography

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  • Europe is estimated to contribute 46% to global truck-mounted aerial work platform market growth by 2028. Technavio's analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.  The regional market is anticipated to grow steadily during the forecast period, driven by the demand primarily in countries such as Germany, Italy, the UK, France, and Spain.  The increase in demand for aircraft platforms such as truck-mounted AWPs is being driven by rising construction projects across the region, and a growing public commitment to shift energy consumption from fossil fuels towards renewable energy, which can be easily used for inspection, repair, and installation work. Such factors will increase the market growth in this region during the forecast period.

What are the Truck-mounted Aerial Work Platform Market Dynamics Shaping Growth?

  • The market is experiencing robust growth driven by the versatility of aerial lifts and AWPs equipped with telescoping booms and flexible arms. These platforms offer self-leveling abilities and advanced control systems suitable for various applications, including maintenance and repair activities and emergency access for telecommunication and government applications like firefighters. They feature diverse configurations such as single-scissor lifts, double-scissor lifts, and various lifting tables, ensuring efficient logistics and storage solutions in industries embracing e-commerce and stringent regulatory standards.
  • Operator training plays a crucial role in ensuring safe operation, aligning with evolving safety protocols, and enhancing operational efficiency. As demand grows, manufacturers innovate to meet industry needs, driving advancements in truck-mounted AWPs that cater to a wide range of vertical lift requirements across diverse sectors.

Key Market Driver

  • In the APAC region, a number of public infrastructure projects have been envisaged or are underway in different APAC countries such as India, China, and Japan. Many of these projects are large in terms of investments. Many countries in APAC give high importance to infrastructure development because infrastructure spending is directly proportional to economic growth. This is because rapid economic growth provides jobs and ensures important services such as energy and housing.
  • Moreover, a country with a strong infrastructure encourages multinational companies (MNCs) to make heavy investments and set up their establishments. Infrastructure has an impact not only on overall economic development but also on living standards and the Human Development Index of a country. This helps respond to a variety of needs arising from population growth and the rise in citizens' spending power. It is expected to drive the demand for truck-mounted AWPs in APAC, thereby driving truck-mounted aerial work platform market growth during the forecast period.

Significant Market Trends

  • In order to prevent or reduce the amount of environmental and noise pollution and emissions resulting from construction activities, AWPs mounted on electric vehicles are gaining traction. Electric trucks mounted with AWPs find higher adoption in urban areas for city maintenance of public lighting and street signs or for indoor work. These electric truck-mounted AWPs offer high performance and are of compact size.
  • However, these vehicles are highly valued because of their compact size, and they can be used on the sides of roads and on pavements without impeding other traffic. They're becoming a very common means of work for high-level building and maintenance activities that do not require much time to finish. Such trends are expected to drive the growth of the global truck-mounted aerial work platform market during the forecast period.

Major Market Challenge

  • With regard to national and regional macroeconomic conditions, the construction sector is highly sensitive. A period of moderate but slow growth and unprecedented turmoil in the building sector, which has negative consequences for the construction industry, is currently underway in both the US and Europe. However, continued uncertainty around prevailing economic conditions will have a negative impact on the construction industry and will continue to pose a risk as project operators may postpone spending in response to tighter credit or due to a decline in income or asset values and negative financial news like the recession in Germany. 
  • Therefore, foreign direct investments and delayed government aid in countries such as Germany, which could lead to delays or cancellations of projects, are also being depressed by increasing uncertainty about economic growth. Such factors are anticipated to reduce investment in construction equipment. This, in turn, will hinder the adoption of truck-mounted AWPs, hence, hindering truck-mounted aerial work platform market growth during the forecast period.

Which are the Major Market Companies?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Altec Inc. - The company offers truck-mounted aerial work platforms such as Altec Truck Mounted Boom Lift Insulated, for the electric utility, telecommunications, tree care, construction, and lights and signs markets.

We also have detailed analyses of the market's competitive landscape and offer information on 20 market vendors, including:

  • Altec Inc.
  • Cmc SRL
  • CTE SpA
  • Ebara Corp.
  • Hidrokon Konya Hidrolik Makine Sanayi and Ticaret AS
  • Hunan Sinoboom Intelligent Equipment Co. Ltd.
  • J C Bamford Excavators Ltd.
  • Klubb Srl
  • Linamar Corp.
  • Manitex International Inc.
  • Morita Holdings Corp.
  • Niftylift Ltd.
  • Oshkosh Corp.
  • PALFINGER AG
  • Ruthmann Holdings GmbH
  • SOLEM SA
  • Tadano Ltd.
  • Terex Corp.
  • Time Manufacturing Co.
  • Toyota Motor Corp. 

Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.

What are the Latest Market Developments and News?

  • In December 2024, Haulotte introduced a new truck-mounted aerial work platform designed for improved safety and efficiency in the construction industry. The model features a fully automated leveling system, making it ideal for challenging terrains and providing workers with secure, stable access to high-altitude tasks.

  • In November 2024, Manitou launched a high-performance truck-mounted aerial work platform with a greater load capacity and extended reach. The platform is tailored for maintenance and industrial applications, offering enhanced operational versatility for accessing hard-to-reach areas.

  • In October 2024, Snorkel announced a new addition to its truck-mounted aerial work platform series, featuring an eco-friendly electric power option. This environmentally conscious model is designed to cater to industries prioritizing sustainability and reducing their carbon footprint while maintaining operational efficiency.

  • In September 2024, CTE unveiled a truck-mounted aerial work platform equipped with advanced telematics capabilities, allowing fleet managers to monitor equipment usage, track maintenance schedules, and optimize overall fleet performance in real-time. This innovation is aimed at improving the overall productivity of construction and utility companies.

Will Innovations Drive Market Growth?

  • The truck-mounted aerial work platform market is expanding rapidly with the increasing adoption of AWPs in various industries. These platforms, including truck-mounted AWPs, play a crucial role in providing access to unreachable areas during construction work and other applications. They serve as versatile permanent access equipment (PAE), offering solutions comparable to traditional elevators and cranes. Economic and geopolitical factors influence market dynamics, impacting sales and product placement strategies across warehouse units and government projects.
  • The market's growth is supported by advancements in logistics and transportation, enhancing the efficiency of AWP deployment in diverse environments. As demand rises, companies expand their AWP truck fleets and strengthen shop service networks to meet customer needs globally, ensuring robust market expansion amidst evolving economic landscapes and industry demands. The global aerial work platform market is influenced by economic and geopolitical issues, driving demand for vertical lifts and requiring a robust shop service network to support transport and logistics operations.

Market Scope

Report Coverage

Details

Page number

175

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.06%

Market growth 2024-2028

USD 1.64 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

5.59

Regional analysis

Europe, North America, APAC, Middle East and Africa, and South America

Performing market contribution

Europe at 46%

Key countries

US, UK, Germany, China, and France

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Altec Inc., Cmc SRL, CTE SpA, Ebara Corp., Hidrokon Konya Hidrolik Makine Sanayi and Ticaret AS, Hunan Sinoboom Intelligent Equipment Co. Ltd., J C Bamford Excavators Ltd., Klubb Srl, Linamar Corp., Manitex International Inc., Morita Holdings Corp., Niftylift Ltd., Oshkosh Corp., PALFINGER AG, Ruthmann Holdings GmbH, SOLEM SA, Tadano Ltd., Terex Corp., Time Manufacturing Co., and Toyota Motor Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our truck-mounted aerial work platform market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Truck-mounted Aerial Work Platform Market forecasting Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
  • Precise estimation of the size of the market size and its contribution to the parent market
  • Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
  • Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
  • Thorough market growth analysis of the market's competitive landscape and detailed information about companies
  • Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

We can help! Our analysts can customize this truck-mounted aerial work platform market research and growth report to meet your requirements. Get in touch

Table of Contents not available.

Research Methodology

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Frequently Asked Questions

Truck-Mounted Aerial Work Platform (Awp) market growth will increase by $ 1639.3 mn during 2024-2028.

The Truck-Mounted Aerial Work Platform (Awp) market is expected to grow at a CAGR of 6.06% during 2024-2028.

Truck-Mounted Aerial Work Platform (Awp) market is segmented by End-user( Utility sector, Construction sector, Others) Product Type( Boom lifts, Scissor lifts, Vertical mast lifts, Personnel portable lifts, South America)

Altec Inc., Cmc SRL, CTE SpA, Ebara Corp., Hidrokon Konya Hidrolik Makine Sanayi and Ticaret AS, Hunan Sinoboom Intelligent Equipment Co. Ltd., J C Bamford Excavators Ltd., Klubb Srl, Linamar Corp., Manitex International Inc., Morita Holdings Corp., Niftylift Ltd., Oshkosh Corp., PALFINGER AG, Ruthmann Holdings GmbH, SOLEM SA, Tadano Ltd., Terex Corp., Time Manufacturing Co., Toyota Motor Corp. are a few of the key vendors in the Truck-Mounted Aerial Work Platform (Awp) market.

Europe will register the highest growth rate of 46% among the other regions. Therefore, the Truck-Mounted Aerial Work Platform (Awp) market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.

US, UK, Germany, China, France

  • Increased government spending on infrastructure in APACMultiple government infrastructure projects have been planned or are in progress in various APAC countries is the driving factor this market.
  • such as India is the driving factor this market.
  • China is the driving factor this market.
  • and Japan is the driving factor this market.
  • during the forecast period. Many of these projects are large in terms of investments. Many countries in APAC give high importance to infrastructure development because infrastructure spending is directly proportional to economic growth. This is because rapid economic growth provides jobs and ensures important services such as energy and housing. A country with a strong infrastructure encourages multinational companies (MNCs) to make heavy investments and set up their establishments. Apart from the overall development of the whole economy is the driving factor this market.
  • the infrastructure also affects the living standards and human development index of a country. It helps in meeting various demands created by the expansion of the population and the increasing spending power of citizens. Asia has witnessed significant growth in infrastructure spending between 2021 and H1 2023. Even after this growth is the driving factor this market.
  • countries in the region are expected to invest more to meet European and American countries in an attempt to catch up to advanced economies such as US is the driving factor this market.
  • spur economic expansion is the driving factor this market.
  • attract foreign investment is the driving factor this market.
  • and improve regional connectivity. Infrastructure development projects in Asia are mostly executed by the public sector and government agencies. With multiple infrastructure development projects yet to be taken up is the driving factor this market.
  • Asia is expected to experience strong investments is the driving factor this market.
  • especially in the transportation segment is the driving factor this market.
  • which includes the construction of new highways is the driving factor this market.
  • seaports is the driving factor this market.
  • and airports. In APAC is the driving factor this market.
  • Southeast Asian countries such as Indonesia and the Philippines are likely to make heavy investments in road and highway projects. Most projects will be based on the public-private partnership (PPP) model. This will ensure that investments pour in from private sector companies also. Governments in India is the driving factor this market.
  • Indonesia is the driving factor this market.
  • and Thailand are taking initiatives to encourage the growth of the construction industry in their respective countries is the driving factor this market.
  • which will is the driving factor this market.
  • in turn is the driving factor this market.
  • improve their economic conditions. For example is the driving factor this market.
  • the Smart Cities Mission is the driving factor this market.
  • the Make in India program is the driving factor this market.
  • and Housing for All by 2022 are some initiatives undertaken by the Indian Government is the driving factor this market.
  • which will remain a huge driver for the construction industry in the country. The government Housing for All by 2022 initiative is a program that aims at building houses for the urban poor by 2022. Other initiatives undertaken by the Indian government will lead to an increase in the number of construction projects and the development of affordable housing in India. Also is the driving factor this market.
  • the policy changes made by the Indian government will ensure quicker approvals for construction projects. The flow of foreign direct investment (FDI) will have a positive impact on the real estate and construction industries. The introduction and implementation of the Goods and Services Tax (GST) will also relax tax-related complexities in the construction industry. These initiatives will help in fueling the growth of the construction industry in India is the driving factor this market.
  • which will increase the demand for construction equipment is the driving factor this market.
  • including truck-mounted AWPs. This is due to the significance of truck-mounted AWPs for effective and secure construction operations. For instance is the driving factor this market.
  • truck-mounted AWPs will be needed to allow access to elevated regions for various operations including painting is the driving factor this market.
  • maintenance is the driving factor this market.
  • and installation when more high-rise buildings are constructed. Construction activities account for 10% of the GDP of Indonesia is the driving factor this market.
  • an emerging economy in APAC. The government announced infrastructure spending of billions of dollars between 2021 and 2023. In the housing sector is the driving factor this market.
  • the country lacks infrastructure facilities with a shortage of homes. In Thailand is the driving factor this market.
  • the government has infrastructural plans in the pipeline until 2025. These projects are focused on improving physical and digital connectivity in the country. In 2021 is the driving factor this market.
  • PTT Public Co. is the driving factor this market.
  • Ltd. (PTT) is the driving factor this market.
  • Thailand state-owned oil company is the driving factor this market.
  • planned to invest $25-$30 billion over the next four years across all its businesses as it concentrates on boosting the country LNG and natural gas industries. The 867-km rail link connecting Bangkok and Laos is one of the highlights of the infrastructure projects that are expected to be extended to China. In addition is the driving factor this market.
  • the country is planning to build two smart city models in Phuket and Chiang Mai. Therefore is the driving factor this market.
  • such factors are expected to drive the demand for truck-mounted AWPs in APAC is the driving factor this market.
  • thereby driving the growth of the market in focus during the forecast period. is the driving factor this market.

The Truck-Mounted Aerial Work Platform (Awp) market vendors should focus on grabbing business opportunities from the Utility sector segment as it accounted for the largest market share in the base year.