MARKET TRENDING NEWS

Thriving on a massive application base comprising construction, transportation & logistics, government, and telecommunication, AWP rental 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 industry giant would roll out 1330-ED micro scissor lift that weighs a mere 1,892 pounds.
 

France AWP Rental Market, By Product, 2016 & 2024 (USD Million)

 

Elaborating further, the soon-to-be-launched scissor lift would reportedly offer a strong platform capacity of 530 pounds, an all-electric drive, and the spaciousness of a slide-out extension deck. Apparently, it is rather self-evident that the latest scissor lift has been manufactured with an aim to align with the evolving needs of the burgeoning construction industry. Furthermore, it has to be mentioned that construction sector has emerged as the most lucrative application segment of the overall AWP rental market in the recent times.
 

North America: Reinforcing the reputation as the major revenue pocket for AWP rental industry

Owing to extensive repair and maintenance activities to revamp the existing fire stations, street lights, 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 industry share augmentation over the last few years.
 

Following is a succinct overview of how AWP rental market in the North America is being shaped by the emergence of unique products and VR simulation technology

• Recognized as one of the most experienced aerial based platforms manufacturer of Europe, Manitou has now announced to debut in the North America AWP rental industry. In the initial phase, the France based firm plans to launch 5 articulating boom models which includes AETJ 49, AETJ 43 (both electric models), and MAN’GO 33, ATJ 46, ATJ 46+ (diesel models). Moreover, to cater the rapidly expanding agriculture and construction industries across the North American nations, the firm further intends to release a full-fledged telescopic boom forklift later this year. Consequentially, the arrival of such foremost aerial platform producers would undoubtedly impel the growth potential of AWP rental market in the North American countries.
   
• At the recently concluded International Construction and Utility Equipment Exposition show in the USA, the leading AWP rental industry player Snorkel showcased its novel A46JRT boom lift. Reportedly, the latest boom lift has been equipped with a Kubota V1505 diesel engine, two grounding loops, 2kW AC generator, a 5 feet aluminum platform with a swing gate, and an advanced Snorkel Guard secondary guarding system. Apparently, it must be noted that A46JRT boom lift indeed comes with an exceptional package of features which are precisely fabricated for the utility sector. Needless to mention, the launch of such cutting-edge platforms would undeniably benefit the overall U.S. AWP rental market in the ensuing years.
   
• Over the past few years, the worldwide labor force has been compelled to swiftly adopt and harness the strengths of emerging technologies to stay relevant in the job market. One such next-gen technology is the virtual reality (VR) simulation which is being utilized to train operators in the AWP rental industry lately. Apparently, the immersive VR simulations have been proving to be of immense significance, given that it provides the new operators with adequate practice to safely test the limits of forklifts and boom lifts in hazardous environments. Bearing in mind the aforementioned aspects, numerous VR solution providers have introduced training simulators in the AWP rental industry. For instance, the Edmonton-headquartered Serious Labs has recently launched a new Aerial Virtual Reality Training Simulator at the International Powered Access Federation Summit in Miami. The modules comprise 18 training scenarios on uneven terrain for scissor lifts. The simulations progressively become more challenging with tasks such as lifting, operating, and platform positioning becoming tougher. Subsequently, the rise of VR solutions to enhance the productivity of aerial platform operators is likely to transform the profitability quotient of AWP rental market.
   

Concurrently, 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 industry is undeniably among the most significant ones. Moreover, a marked 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.

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• Written By : Saif Ali Bepari