Aerial Work Platform (AWP) Truck Market Is Estimated To Witness...

Aerial Work Platform (AWP) Truck Market Is Estimated To Witness High Growth

Posted 2023-11-02 06:33:30

The Aerial Work Platform (AWP) Truck Market is estimated to be valued at US$ 11643.3 Mn in 2022 and is expected to exhibit a CAGR of 11.2% over the forecast period from 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Aerial work platforms are motorized devices used to provide temporary access to locations at heights for maintenance and construction activities. AWPs are commonly known as bucket trucks or aerial lifts. They come with booms, buckets, scissors or vertical towers for workmen to reach overhead construction areas or equipment. AWP trucks offer safe, reliable and ergonomic access to elevated work areas up to heights of 110 feet or more. They find applications in construction, maintenance, commercial building, telecommunication, forestry and other industries.

Key Takeaways

The global Aerial Work Platform (AWP) truck market is expected to witness high growth, exhibiting CAGR of 11.2% over the forecast period, due to increasing industrialization and construction activities globally. The growth in building and infrastructure development is a major driver for rising adoption of AWP trucks which provide safety, productivity and access at heights.

Regional analysis: North America dominates the aerial work platform truck market with a share of over 30% in 2021. The US accounts for the largest demand due to strong economic growth and presence of key players. However, Asia Pacific region is expected to exhibit fastest growth rate during the forecast period led by China, India and other Southeast Asian countries. Rapid urbanization and government investments in public infrastructure are fueling the AWP truck sales.