This report provides exclusive insights into the COVID-19 impact on the Aerial Equipment Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Aerial Equipment Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Aerial Equipment Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on aerial equipment market provides in-depth analysis of segments and sub-segments in global as well as regional aerial equipment market. The report is a comprehensive presentation of trends, forecast and dollar values of the global aerial equipment market. According to the report, the global aerial equipment market is projected to grow at a CAGR of 8.80% over the forecast period of 2018-2024.
An aerial work platform is known as aerial equipment, which is a mechanical device that is used to provide temporary access to the people in the inaccessible areas usually at height. They are generally used for flexible access purposes such as maintenance of construction work, firefighters, or emergency access. Nevertheless, of the task, they are used for aerial work platforms that provide additional features beyond transport and access including electrical outlets or compressed air connectors for power tools. Access equipment is gradually used in factories & manufacturing plants for material handling applications as well as in telecommunication sector for maintenance & installation of telecom poles, overhead lines.
Increasing utilization of access platforms in the infrastructure projects across the globe is anticipated to be the major factor driving the growth of the aerial equipment market. Additionally, growth in the construction industry, stringent labor laws, and government regulations are expected to boost the market over the upcoming years. Due to high mobility, high traveling speed and less time for setup on construction sites, the market for mobile cranes is increasing. However, high capital investments associated with industrial lifting equipment are likely to hamper the growth of the market over the forecast period.
On the other hand, increasing demand for lifting loads in the shipping industry and increasing demand for the forklifts in the warehouse is providing several growth opportunities for the key players in the aerial equipment market. Furthermore, demand for crane and hoists in the mining industry has opened the door for opportunities for the aerial equipment market. Moreover, increasing investments made by the regional government in the industrial sector such as building airports and stadiums are providing abundant opportunities for the aerial equipment industry.
Among the geographies, Asia Pacific dominated the aerial equipment market followed by North America. Additionally, the growing demand for advanced construction equipment technology is expected to dominate the North American market. Moreover, an increasing number of infrastructure-related projects in the Asia Pacific regions is anticipated to generate significant growth opportunity for mobile elevated work platforms. On the other hand, the equipment rental industries in China is quite new, currently, the major focus of these industries is on renting scissor, and boom lifts. However, high cost associated with the purchase of this equipment’s such as construction and telecommunication sector for general repair and maintenance activities at inaccessible areas usually at height is compelling the market.
The companies profiled in the aerial equipment market are united Rentals, Ashtead Group, Loxam, Herc Holdings Inc. Moreover, The Manitou group, a world leader in all-terrain material handling has signed an agreement to acquire Terex Equipment Private Limited (TEPL) from Terex Corporation.
The report on global aerial equipment market covers segments such as product and application. On the basis of product, the global aerial equipment market is categorized into boom lift, vertical mast lift, scissor lift, and personal portable lift. On the basis of application, the global aerial equipment market is categorized into construction, telecommunication, transportation & logistics, and government.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global aerial equipment market such as, Ahern Rentals, Inc, Aichi Corporation, AJ Networks Co., Ltd., Aktio Corporation, All Aerials, LLC, Ashtead Group, AWP Rental Company, Shanghai Hongxin Equipment Engineering Co., Ltd., Unirent LLC, and LTech Convex Latex.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global aerial equipment market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of aerial equipment market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the aerial equipment market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the aerial equipment market to understand the present and future trends in this market and formulate their strategies accordingly.