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AWP Rental Market 2019 – 2024, by Product and Applications

Author : Rahul Varpe | Published Date : 2019-08-28 

Owing to extensive repair and maintenance activities to revamp the existing fire stations, streetlights, transformers & power cables, and other construction-related infrastructure, North America is likely to profoundly impact the commercialization potential of AWP rental market. Apparently, one of the pivotal factors to have contributed toward the rapid expansion of this business space is the robust regulatory framework across North American nations.

In order to ensure that the human safety standards are followed strictly, numerous government authorities have mandated stringent regulations to the firms offering rental equipment in this region. In consequence, this has drove the North America AWP rental market share augmentation over the last few years.

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Numerous developing nations across the globe have been allocating substantial budgetary proceeds to build gigantic infrastructure projects which includes large commercial complexes, massive smart cities, transportation-associated ventures, and energy-related undertakings. Hence, it goes without saying that the successful execution of these enormous projects rests upon the assistance of various business domains, of which AWP rental market is undeniably among the most significant ones.

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

United Rentals, Inc’s recent acquisition of Neff Corporation has sent out waves of anticipation across the rapidly expanding AWP rental market. The latest deal is reported to have been concluded at a striking USD 1.3 billion and was primarily funded via freshly issued unsecured debt. Apparently, this take over is in line with the US based company’s expansion strategy which aims to enhance its earthmoving capabilities in the crucial growth terrains of the global AWP rental industry.

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Thriving on a massive application base comprising construction, transportation & logistics, government, and telecommunication, Aerial Work Platform Rental (AWP) Market share has witnessed commendable upswing over the past few years. With the ever-evolving needs of the aforementioned business verticals, AWP rental industry participants have evidently focused on developing progressive aerial work platforms. For instance, the US based access equipment provider GMG Inc. has recently declared to launch numerous high-grade scissor and boom lifts this year. Evolving a consumer-centric approach, the renowned AWP rental market giant would roll out 1330-ED micro scissor lift that weighs a mere 1,892 pounds.

AWP Rental Market, by Product:

  • Boom lift
  • Scissor lift
  • Vertical mast lift
  • Personnel portable lift

AWP Rental Market, by Application:

  • Construction
  • Telecommunication
  • Transportation & logistics
  • Government
  • Others

Increase in fatal injuries across numerous business settings has necessitated extensive usage of these equipment – a factor that would further propel the AWP rental market progression over the forthcoming years. A testament to the bright growth prospects of AWP rental industry is the research report by Global Market Insights, Inc., which claims that the overall remuneration portfolio of this business space would surpass USD 24 billion by 2024.

Related News: https://www.marketwatch.com/press-release/2019-2024-construction-equipment-market-study-by-industry-growth-statistics-and-regional-forecast-2019-08-28

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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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