Aerial Work Platform Market Is Likely to Experience a Strong Growth During 2020-25
An aerial work platform (AWP), also acknowledged as an aerial device is a mechanical device employed to provide momentary access for people or equipment to unreachable areas, usually at some height.
The Aerial Work Platform research report published by Stratview Research, is an in-depth analysis of the latest developments, market size, future technologies, market drivers, upcoming challenges, with key company profiles. The research study provides market overview, opportunities in the market, sales and revenue by region and much more business intel.
This research analyses niche markets, potential threats, and competitive strategy in various segments based on the Aerial Work Platform Market competitive landscape and development model in various parts of the world. This research throws light on the business strategies of the key players that might help in the growth of other companies during the pandemic era.
Impact of COVID-19 on Aerial Work Platform Market
As the world grapples with one of its greatest health pandemic, the economic and social disruption has affected millions of enterprises. The revenues have gone down in the year 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition. Stratview Research throws light on in-depth insights related to rapid alterations in the key players in each industry, growth and decline due to COVID-19, etc. The researchers at Stratview Research are regularly connecting with the clients and other key players of almost all the industries, regarding the impact of COVID-19 on their businesses.
Key Players:
- Advance Lifts, Inc.
- Aichi Corporation
- EdmoLift AB
- Galmon (S) Pte Ltd
- Haulotte Group
- JLG Industries
- Linamar Corporation
- MEC Aerial Work Platforms
- Terex Corporation
- Wiese USA
Growth drivers and Market Value:
This report, from Stratview Research Aerial Work Platform Market value and growth drivers over the trend period of 2020-25. According to the report -
Aerial work platform market is likely to witness an impressive CAGR of 5.8% during the forecast period. The major factors contributing towards the growth of the aerial work platform market are increasing investments in real-estate sector, increasing government investment in the private sector, and growing infrastructure development, especially in the Asia-Pacific region.
Segment Analysis:
By Engine Type
Based on the engine type, the aerial work platform market is segmented as electric and engine-powered. The electric aerial work platform segment dominates the market and is likely to grow at an excellent rate in the coming years, due to the increasing demand for maintenance and repair services in the residential construction sector.
By Region
In terms of regions, North America dominated the aerial work platform market in 2019, whereas Asia-Pacific is expected to grow at the fastest pace during the forecast period. China and India are the key growth engines of the Asia-Pacific’s market. Europe is also expected to offer lucrative growth opportunities during the forecast period.
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Key Considerations for Market Forecast:
- Impact of lockdown, supply chain disruptions.
- Pre and post-COVID-19 market estimates
- Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan
Impact of COVID-19 on the Global Market
The Aerial Work Platform report compiled by Stratview Research offers in-depth study of market opportunities and market impact that are stirred due to the COVID-19 pandemic. The detailed research report focuses upon the direct and indirect impact of COVID-19 with new product launches, M&As, supply chain overview, government regulations, strategies adopted by related market, etc.
Sneak peek into the Report:
The report provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market forecast analysis
- Competitive landscape and dynamics: Market share, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends & Key success factors
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