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Aerial Work Platform Rental Market is set to witness growth over 2019 - 2024

Author : Rahul Varpe | Published Date : 2019-04-22 

Global Market Insights provides a detailed overview of Aerial Work Platform Rental market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Aerial Work Platform Rental market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Aerial Work Platform Rental Market is expected to exceed USD 24 billion by 2024. Increasing investments for the construction of infrastructures such as such as manufacturing facilities, airports, power plants, and roadways are expected to drive the Aerial Work Platform Rental Market during the forecast timeline. In addition, various government initiatives focusing on improving the existing infrastructures further contribute towards the demand.

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The emerging trend of the contractors toward renting of the equipment is due to the inherent flexibility that makes AWP the perfect rental equipment. The access platform rental market is showing a continuous upward trajectory and is expected to witness growth owing to the increased consumer spending followed by growing commercial activities.

With an increase in the number of accidents due to the human involvement in construction works, companies are focusing on adopting sophisticated equipment for construction activities for the safety of workers, leading to an increase in the demand for aerial platforms market globally. Growing demand from the construction and industrial sectors is enabling the operators to continuously enhance the fleet and improve the rental rates. Furthermore, increasing utilization of access platforms in manufacturing plants as well as by telecommunication firms for material handling, installation, and maintenance applications respectively is contributing to the access platform rental market demand.

Factors such as lack of knowledge related to the usage of AWPs coupled with the low availability of trained operators are hindering the Aerial Work Platform Rental Market growth. Non-availability of trained employees, low-usage of high-performance technologies, and weak infrastructure are resulting in inadequacies, which are creeping into construction projects, further limiting the industry demand.

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The construction segment dominates the overall access platform rental market with a significant part of the revenue generated from construction applications. Increasing number of construction projects globally is expected to boost the Aerial Work Platform Rental Market over the forecast timeline. The use of traditional construction methods in construction works is reducing the productivity, which is boosting the demand for AWPs owing to the advantages offered such as safety in operations and fast working speeds. In addition, the increased government investments in infrastructural activities have provided the potential for the increased growth of the AWP rental market. For instance, the U.S. government is focusing on infrastructure development and plans to spend USD 1 trillion to rebuild the country's roads, tunnels, bridges, airports, and other infrastructure by 2028.

Asia Pacific MEWP rental market is set to witness growth over the forecast timeline. The growth can be credited to the growing number of infrastructure projects, maintenance of high-rise establishments, and inspection activities in the region. In China, the growing requirement for MEWPs has been witnessed in the infrastructure development, particularly in the urban infrastructure. China has been increasing its focus on replacing scaffolding by renting an increasing number of AWPs to offer a safe environment for the workers, further contributing to the sector growth.

Some of the players in the Aerial Work Platform Rental Market comprise:

  • Herc Holdings
  • United Rentals
  • Loxam
  • Ashtead Group
  • Blueline Rentals
  • Riwal
  • Aktio Corporation
  • Kilotou
  • Haulotte Group
  • Nesco Rentals

The MEWP rental market is extremely fragmented in nature due to large number of participants operating in the industry, driving the entry of small players providing advanced machinery to stay competitive in the industry. Players are increasingly focusing on expanding the fleet size by investing heavily in new equipment to meet the ever-increasing demand from transportation & logistics and construction sectors.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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