Aerial Work Platform Rental Market Size | Growth, Opportunity and Forecast to 2026
Selbyville, Delaware, United States, September 11 2020 (Wiredrelease) Global Market Insights, Inc –:As per new research report, aerial work platforms rental market is estimated to surpass $25 billion by 2026. The rising number of industrial and construction activities across the world are likely to boost the Aerial Work Platform Rental Market growth over the forthcoming timeframe. Governments across Europe and the Asia Pacific are making significant investments towards the development of innovative smart cities, which is fueling the demand for advanced construction equipment.
In fact, the Indian government is planning to invest around $30 billion across about 89 of its cities under its ambitious smart city initiative. Such activities are subsequently expected to increase the demand for access equipment over the projected time period. In addition, the rising demand for advanced lifting equipment for improving worker safety is also driving the aerial work platform rental market.
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Additionally, with tightening work safety regulations, owing to a plethora of worker safety organizations like OSHA, the demand for effective training for workers is witnessing a tremendous rise. The AWP rental industry is not exception to this shift. Certain standards are also to be maintained for safe and efficient operation of aerial work platforms.
For instance, ANSI A92 has very strict standards for their use as well as operation. One of the requirements states that the users are given proper training in platform safety and machine specific function. To that end, several industry players are coming up their own innovative training programs to consolidate their standing in the market landscape.
Citing an instance, Genie, one of the leading manufacturers of aerial lift equipment, offers with Genie® Lift Pro™ an online AWP training program for instructors, providing service training for technical personnel, and thorough product training for salespeople.
The overall AWP market is expected to witness a slow growth owing to the COVID-19 pandemic in 2020. Government authorities of numerous countries have imposed strict lockdowns, which is severely restricting business growth and consumer movement.
Additionally, the temporary closure of several manufacturing and distribution facilities of various companies, under the lockdown, has further led to a worldwide economic slowdown. This is expected to affect the demand for aerial work platforms, adversely impacting the overall market growth.
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In terms of product, the boom lifts are observing growth owing to the growing demand from mining, maintenance, and construction applications. These platforms provide high platform heights as well as an improved working radius, which is supporting adoption of the equipment for several maintenance and installation operations.
Moreover, boom lifts are more often used for installation as well as maintenance of streetlights, indoor & outdoor cleaning of roofs, and several other industrial applications, thereby contributing to the aerial work platform rental industry development. Furthermore, the availability of boom lifts in an assortment of working heights is also complimenting market development.
The rapidly expanding telecommunication sector across the world is also creating substantial market demand for AWPs. Telecom contractors utilize aerial work platforms for the installation and maintenance of power cables, poles, and transformers.
Additionally, the availability of AWPs that are electrically insulated is further likely to support product adoption in places where the risk of electrocution exists. Several rental companies are providing insulated access platforms in order improve operator safety at work locations. Companies are also offering safety training to decrease the chances of fatalities and injuries.
From a regional perspective, growing industrial and infrastructural projects across numerous European nations, including France, Germany, and Russia are providing stimulus for the regional market growth. The platforms are growingly utilized at malls, offices, and schools to perform various maintenance & repair activities. Moreover, increasing efforts by European governments towards smart city initiatives is also anticipated to drive the market demand.
In addition, lift rentals are a way to get access to aerial lifts without having the need to pay high costs for buying and maintaining these equipment. Rented AWPs are best for projects which generally come up only once or twice annually. Rental companies also offer several benefits for renting aerial work platforms such as fast field service, expertly maintained lifts, and convenient location. All such factors will improve the business scope for AWP rental market in coming years.
Table of contents for this research [email protected] https://www.gminsights.com/toc/detail/aerial-work-platform-awp-rental-market
Riwal, Aktio Corporation, Herc Holdings Inc., Ashtead Group, Sunstate Equipment Company, Nesco Rentals, United Rentals, Kilotou, AFI Uplift Ltd., Haulotte Group, Loxam, and Blueline Rentals among others, are some of the key players operating in the AWP rental market.
Chapter 1. Methodology and Scope
1.1. Definitions & forecast parameters
1.1.2. Methodology and forecast parameters
1.2. Data Sources
Chapter 2. Executive Summary
2.1. AWP rental industry 360° synopsis, 2015 – 2026
2.1.1. Business trends
2.1.2. Products trends
2.1.3. Application trends
2.1.4. Regional trends
Chapter 3. AWP Rental Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.2.1. Rental landscape
18.104.22.168. Pros and cons – rent vs purchase AWPs
22.214.171.124. Cost calculator – rent vs purchase AWPs
3.3. Impact analysis of coronavirus COVID-19 pandemic
3.3.1. Global outlook
3.3.2. Impact by region
126.96.36.199. North America
188.8.131.52. Asia Pacific
184.108.40.206. Latin America
3.3.3. Industry value chain
220.127.116.11. Research and development
3.3.4. Competitive landscape
18.104.22.168. Distribution network
22.214.171.124. Business growth
3.4. Industry ecosystem analysis
3.4.1. Component suppliers
3.4.3. Software & technology providers
3.4.4. System integrators
3.4.5. Distribution channel analysis
3.4.6. End-use landscape
3.4.7. Vendor matrix
3.5. Technology & innovation landscape
3.6. Regulatory landscape
126.96.36.199. North America
188.8.131.52.1. Occupational Safety & Health Administration (OSHA)
184.108.40.206.1.1. OSHA 29 CFR 1926.21
220.127.116.11.1.2. The Scaffold & Access Industry Association
18.104.22.168.2. American National Standards Institute (ANSI)
22.214.171.124.2.1. ANSI/SAIA A92.2-2015
126.96.36.199.2.2. ANSI/SAIA A92.5-2006 (R2014)
188.8.131.52.2. Provision and Use of Work Equipment Regulations (PUWER)
184.108.40.206.3.1. EurAsian Conformity Mark (EAC)
220.127.116.11.3.2. European Union Standards
18.104.22.168.3.3. Emission Controls Standards
22.214.171.124. Asia Pacific
126.96.36.199. Latin America
188.8.131.52.1. Occupational Health & Safety Act, 1993
184.108.40.206.2. Driven machinery regulations, 2011
220.127.116.11.3. The South African Bureau of Standards (SABS)
18.104.22.168.4. ZABS (ZS 385)
22.214.171.124.5. OSH Regulations
126.96.36.199.6. GCC Standardization Organization – GSO 42:2015
3.7. Industry impact forces
3.7.1. Growth drivers
188.8.131.52. Rising investments in construction industry across the globe
184.108.40.206. Increasing demand for rental construction equipment in the U.S.
220.127.116.11. Growing urbanization in the U.S.
18.104.22.168. Proliferation of infrastructure and industrial projects in Russia
22.214.171.124. Increasing use of AWPs in China
126.96.36.199. Growing urbanization and worker safety concerns in India
188.8.131.52. Rapidly developing infrastructure industry in BRIC countries
184.108.40.206. Growing reconstruction and maintenance activities across Japan
3.7.2. Industry pitfalls & challenges
220.127.116.11. Optimizing fleet utilization
18.104.22.168. Lack of trained operators
22.214.171.124. Lack of awareness
126.96.36.199. Impact of COVID-19
3.8. Growth potential analysis
3.9. Porter’s analysis
3.9.1. Supplier power
3.9.2. Buyer power
3.9.3. Threat of new entrants
3.9.4. Threat of substitutes
3.9.5. Internal rivalry
3.10. PESTEL analysis
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