Albany, NY -- (SBWIRE) -- 01/02/2019 -- Aerial work platforms are used in installing and maintaining of street light, high-tension power lines, transformers. They are used by engineering and maintenance departments to perform various tasks, which include replacing lighting component and painting interior spaces. Construction and building maintenance, electric line repair, tree care work, roller coaster repair and maintenance, and indoor retail area and warehouses significantly use these tools. Infrastructure development activities, such as construction of high tech building, roads, amusement parks, and indoor retail areas, has increased in recent years, boosting demand for aerial work platforms. For instance, an expansion in the aviation industry in India has led to the construction of new airports and modification of old airports. This is likely to offer attractive expansion opportunities to the aerial work platform market. These platforms can be purchased directly from manufacturers or distributors and can be further rented out.

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Rise in investment in public utility activities such as construction of safe electric lines, amusement parks, and high-tech building increases the use aerial work platforms. In order to reach the aim of urbanization, governments across regions are focusing on increasing investments in better infrastructure. Aerial work platforms are being increasingly incorporated in the construction industry in order improve safety of workers.

Developing countries such as India constitute a significant share of the aerial work platform market due to an increase in infrastructure development activities in these countries. However, high investment costs act as a hurdle for the aerial work platform market. High investment costs of aerial work platforms compared to conventional methods restrict their usage. For instance, activities related to maintenance are still being carried out by using bamboo and traditional method of metal scaffolding for minor or major repairs in most regions of the world.

The global aerial work platform market can be segmented based on product, application, and region. In terms of product, the global aerial work platform market can be classified into scissor lift, boom lift vertical lift, and personal portable lift. Scissor lifts are electric-powered or gas-powered platforms mostly used by the construction and aviation industries. Boom lifts provide greater horizontal reach as they are designed for productivity and the drive speed needed to get around the work area. Boom lifts provide versatility with up and out and over positing capabilities, which help to work at high with more safety. Hence, the demand for boom lifts is expected to rise during the forecast period. Vertical lifts are significantly used by warehouses and manufacturing industries.

The boom lifts segment is expected to account for a prominent aerial work platform market share over the forecast period. Scissor lifts are utilizes when there is a requirement for maximum vertical and horizontal outreach at crowded job sites.

In terms of application, the global aerial work platform market can be split into logistics & transport, construction, and telecommunications. The logistics and transport segment is expected to expand at a rapid pace in the near future. An telecommunications industry and economic development in emerging economies are likely to boost the segment. Further, a rise in customers' disposable income and increase in concerns about worker security are expected to increase demand for aerial work platforms.

In terms of geography, the global aerial work platform market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to dominate the global aerial market in terms of market share in the near future due to an increase in the construction of buildings. The market in Asia Pacific is expected to expand at a higher growth rate, owing to the presence of emerging economies such as India, China, and South Korea.

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Prominent players operating in the global aerial work platform market are JIG, Linamar, Terex, and MES & Snorkel. Mergers and acquisitions is a major strategy adopted by market players. For instance, in March 2018 Linamar, a diversified manufacturing company and manufacturer of auto parts, signed a strategic cooperation agreement with Soft Wheel Ltd. to produce wheels for Soft Wheel at one of its North American factory.