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
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.