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Aerial Work Platform Aftermarket Size
Aerial Work Platform Aftermarket is anticipated to witness significant growth rate from 2024 to 2032, driven by growing adoption of safety standards related to aerial work platform (AWP) usage by government authorities across the globe.
AWP aftermarket provides parts and accessories to enhance safety for workers and noise reduction on construction sites. For instance, Genie, in 2022, launched a new white noise alarm feature for its advanced Genie slab scissor lifts, AWPs, telehandlers, and runabouts. The solution offers an alternative to the traditional tonal alarms to reduce noise emissions on job sites by up to 45%. With industries prioritizing worker well-being and adhering to evolving regulations, the aftermarket is providing solutions to ensure compliance and enhance the operational safety of AWP equipment.
However, the market growth may face constraints due to economic uncertainties leading to affected capital expenditures, high initial costs of advanced technologies, and the shortage of skilled technicians. The evolving safety regulations are likely to pose challenges in adapting existing equipment, further limiting the pace of aftermarket expansion.
Aerial Work Platform Aftermarket Trends
Increasing infrastructure projects, specifically in the Asia Pacific will create a significant opportunity for the aerial work platform business. High infrastructure investments are allowing the procurement and usage of advanced machines for construction projects, supporting the adoption of AWPs over conventional ladders due to productivity and efficiency benefits. Moreover, the increasing requirement for compliance with stringent safety standards will further fuel the demand for advanced sensors, automation features, and telematics, accelerating the business growth.
Aerial Work Platform Aftermarket Analysis
Based on product, the the sensors segment is expected to witness high demand from 2024 to 2032. Advanced sensor technologies are revolutionizing the AWP industry by enhancing safety, efficiency, and overall performance. Sensors, such as proximity detectors, load sensors, and tilt sensors, are gaining prominence in preventing accidents and optimizing machine functionality. The increasing emphasis on workplace safety regulations is likely to boost the adoption of sensor-equipped aftermarket solutions, adding to the segment growth.
In terms of application, the AWP market is set to attain high demand from the boom lifts segment between 2024 and 2032. The increasing number of construction and infrastructure projects worldwide is boosting the demand for aftermarket boom lifts service, including maintenance, repair, and upgrades. Boom lifts offer various advantages over traditional scissor lifts like extra range of movement, stable foundations, indoor applications, and high accessibility. Additionally, the expansion of the construction and maintenance sectors is propelling the demand for aftermarket services tailored to boom lifts. The growing introduction of enhanced safety features, technological advancements, and customization options will further contribute to the increasing need for aftermarket boom lifts.
Regionally, the North America aerial work platform aftermarket is anticipated to hold a sizable revenue share by 2032, attributed to the various standards adopted to ensure worker safety on construction sites. The ongoing expansion of the construction sector will further accelerate the regional market growth. Furthermore, the rising trend of rental equipment across American countries will fuel the need for regular maintenance and upgrades, pushing the aftermarket growth.
Aerial Work Platform Aftermarket Share
AWP aftermarket includes several regional and international players providing parts, accessories, installation, and maintenance services for lifting machines. To illustrate, Curtiss-Wright has emerged as a key market player in delivering innovative solutions. Its expertise in advanced technologies is contributing significantly to safety and performance enhancements in AWP equipment.
Some of the key AWP aftermarket players include-
- Genie
- MEC Aerial Work Platforms
- JLG industries
- AE Filters
- Mitra Setia Group
- Curtiss Wright
- TVH
- SkyGuard
- Provincial-Lift
Aerial Work Platform Aftermarket News
- In 2022, JLG Industries, Inc. and RE2 Robotics entered a strategic partnership to bring robotics to access equipment to improve productivity and operator safety.
- In February 2023, MECAWP launched an all-electric scissor lift, the NANO10-XD, featuring a compact design to eliminate the possibility of an oil leak for ecologically sensitive applications due to zero hydraulic oil with all-electric lift, steer, and drive.