Selbyville, DE -- (SBWIRE) -- 07/06/2020 -- Growing emphasis on inspecting the structural integrity of local infrastructure is likely to push South Korea AWP rental market growth through 2025. Rise in maintenance activities across large residential areas is likely to boost equipment deployment. For the record, South Korea is observing an upsurge in reconstruction activities due to various natural disasters such as winter storms, landslides, tsunamis, and floods.

Recover from these disasters along with growing efforts to maintain and renovate aging infrastructure would drive the deployment of rental AWPs in the country. Moreover, rising disputes with neighboring nations such as North Korea are motivating reconstruction projects.

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Hefty investments in the infrastructure sector will also favor the use of AWPs. In 2019, the South Korean government planned to invest $27.2 billion in the infrastructure sector in order to upgrade aged urban structures. The South Korea AWP rental market may likely surpass a valuation of $350 million through 2025.

Given below the top trends fueling the South Korea AWP rental market outlook:

Increasing usage of access platforms

Access platforms are slated to observe immense demand over the coming years as they offer a safe and reliable way to operate on energized overhead power lines. Integration of remote control systems into AWPs has helped enhances overall operations across utilities.

Government initiatives like offering water, power, and other facilities across the region have driven heavy investments in infrastructure development and installation, favoring segment growth. Furthermore, regular maintenance activities across facilities and power lines that require aerial lift platforms to access elevated locations may stir product deployment.

Development of public infrastructure

The South Korean government is investing heavily in the upgradation of infrastructures like bridges, roadways, transportation points as well as buildings to enhance the country's overall infrastructural landscape and offer better facilities for local population. These initiatives are expected to drive noteworthy demand for rental AWPs across South Korea over the years.

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Increasing deployment across the manufacturing sector

Growing need to maintain and preserve existing infrastructure and managing industrial facilities is touted to push growth of AWP market of South Korea. The industry is slated to observe robust expansion activities across warehouse and manufacturing facilities. Increasing emphasis of plant maintenance and the presence of major client companies like Hyundai Heavy Industries, LG, Samsung Electro-Mechanics, and Samsung Display may increase market share through 2025. The competitive landscape of the South Korea AWP rental market is inclusive of players such as Korea Rental Corporation, YK Construction Equipment, AJ Networks, and Prince Lift among others.

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