QY Research has announced the addition of another report to its automobile and transportation archive. Titled “Global Aerial Platform Vehicles Market Report, History and Forecast 2014-2025,” the 151-page research study gives analysis of almost every aspect and factor associated with the global market. During the forecast period 2019-2025, the CAGR of the global aerial platform vehicles market is expected to stay at a sluggish 2.6%. By 2025, the global market is projected to reach a valuation of US$7,610 Mn. In 2018, the global market value was US$6,380 Mn, according to the research study.
Costs of raw materials and components are among important variables of the performance of producers operating in the global aerial platform vehicles market. Besides these, the rate at which any price increase passed on to customers is considered in the price trend analysis.
Global Aerial Platform Vehicles Market: Market Drivers
Multiple uses of some aerial platform vehicles are foreseen to increase their demand in the global market. For instance, the boom lift, aka spider lift, was originally used to pick up fruits hanging high on trees in orchards. However, today it is also used to assist firefighters, prune tall trees, maintain overhead lines, and in construction. Increasing construction activities, repair works in buildings, and piping jobs are expected to support the growth of the global aerial platform vehicles market.
Need for assistance in maintenance and janitor jobs such as window washing and electric repairing tasks is foretold to augment the demand for specific types of products such as telescopic boom lifts. Safety is one of the priorities that end users consider when buying aerial platform vehicles. Thus, products with advanced safety features are anticipated to gain high demand in the global aerial platform vehicles market. On the other hand, aerial platform vehicles that work on uneven terrains and provide convenience when working in hard-to-reach areas are expected to increase their demand.
Global Aerial Platform Vehicles Market: Segmental Analysis
The global aerial platform vehicles market is segmented based on type of product and application, besides region. On the basis of type of product, there are five segments analyzed in the report, viz. truck-mounted lifts, scissor lifts, articulated boom lifts, telescoping boom lifts, and others. By application, the global market is segmented into construction, telecommunication, garden engineering, municipal, and others.
Global Aerial Platform Vehicles Market: Regional Analysis
The report includes deep analysis of the MEA, South America, Europe, Asia Pacific, and North America as well as key countries of these regions. As per the analysis provided in the report, North America is the largest market in terms of sales and production areas. It accounted for a remarkable share of the global total sales volume.
Global Aerial Platform Vehicles Market: Key Manufacturers
There are several leading manufacturers studied in the report, viz. Runshare, Mantall, Oil & Steel, Sinoboom, Teupen, CTE, Niftylift, Xuzhou Handler Special Vehicle, Bronto Skylift, Dingli, Ruthmann, Manitou, Altec, Time Manufacturing, Tadano, Skyjack, Haulotte, Aichi, JLG, and Terex. All of these manufacturers are profiled, taking into account their gross margin, revenue, price, sales, product categories, competitors, and manufacturing base.