Arial Work Platform (AWP) Truck Market Is Estimated To Witness High Growth Owing To Rising Infrastructure Development Activities

The Arial Work Platform (AWP) Truck Market is estimated to be valued at US$ 29747.7 Mn in 2024 and is expected to exhibit a CAGR of 11.2% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights’ The growth of the AWP truck market is primarily driven by rising infrastructure development activities across both developed and developing regions.

Rapid urbanization has led to increasing demand for commercial and residential spaces which requires construction of roads, bridges and buildings. Further, repair and maintenance of old infrastructures also fuels the demand for AWP trucks. Another important driver for the market growth is stringent workplace safety regulations mandating use of safety equipment for heighted jobs. AWP trucks are widely used in construction, telecommunication, and utility industries where workers require an elevated platform to perform tasks safely at height.

Key Market Trends: Electric AWP trucks are gaining traction among end-users as they offer advantages such as zero tailpipe emissions, low noise, and reduced operating costs. Major manufacturers are focusing on developing electric models with improved battery capacity and faster charging times. For instance, in 2023, JLG launched its electric boom lift E450AJ with a battery capacity of 560AH that offers 8 hours of continuous runtime on a single charge.

Adoption of telematics solutions is another key trend in the market. Telematics enables fleet managers to track location of trucks, monitor engine performance, and receive alerts in case of malfunctions or unauthorized operations. This improves efficiency, safety, and lowers maintenance costs. Leading players are offering telematics as standard or optional features across their product line.

Arial Work Platform (AWP) Truck Market Opportunities: By 2031, the boom lifts segment is expected to reach a value of USD 15,000 Mn. Boom lifts are widely used for applications that require vertical access and positioning. Their flexibility to be used indoors and outdoors makes them a suitable option for tasks like maintenance, construction and repair works. The growing construction industry across both residential and commercial sectors is one of the major drivers boosting demand for boom lifts. Ease of operation, compact size and ability to access high points are some of the key advantages offered by boom lifts.

The scissor lifts segment is projected to grow at a CAGR of 9% during the forecast period. Valued at USD 8,000 Mn in 2024, this segment is expected to surpass USD 14,000 Mn by 2031. Scissor lifts are commonly used for light duty applications that require working at heights of up to 28 feet. Their lightweight structure and stability on uneven surfaces make them ideal for retail stores, warehousing facilities and industrial plants. Also, scissor lifts have low maintenance needs which further catalyzes their adoption across end-use industries.

Key Market Takeaways: The AWP truck market is anticipated to witness a CAGR of 11.2% during the forecast period 2024-2031, owing to rapid infrastructure development and construction activities worldwide.

On the basis of type, the boom lifts segment is expected to hold a dominant position, owing to its flexibility of outdoor and indoor usage.

By power type, the electric AWP trucks segment is projected to grow at a higher CAGR during the assessment period due to stricter emission norms.

Regionally, North America is expected to hold a dominant position over the forecast period, due to presence of mature construction and real estate industries in the region.

Competitor Insights: Some of the leading players operating in the AWP truck market include JLG Industries., Manitou Group, MEC Aerial Work Platforms, Terex Corporation, Linamar Corporation, Haulotte Group, Snorkel, Skyjack, and Tadano Ltd. These players are focusing on new product launches and expansion strategies to gain a competitive advantage in the market.

Recent Developments: In August, machinery manufacturer Terex revealed its largest elevated work platform to date – the TH6060 telehandler with a 59.5-foot maximum working height. A headline safety integration on the TH6060 is a full-color rearview camera installed on the rear of the cab, along with a dedicated Terex-branded smartphone app. Through the app, operators can view a live rear camera feed on their phone and use intuitive touchscreen controls to maneuver the boom and basket. The remote control functionality via smartphone aims to improve situational awareness for operators undertaking tasks that could otherwise obstruct their view, such as working at height on large structures or machinery. More information in full report.