New York, NY, Feb. 16, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled "Aerial Equipment Market By Product (Atrium / Spider Lifts, Boom Lifts, Cranes, and Scissor Lifts); By Technology (Unpowered, Self-propelled, and Vehicle-mounted); By Ownership (Rental and End-Use Industry); By End-User (Fire Brigade, Industrial, Power Plant, Construction, Ship & Offshore, and Others (Glass Cleaning, and Maintenance)) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2022".
According to the report, the global aerial equipment market was valued at around USD 8,300 million in 2016 and is expected to reach over USD 14,300 million by the end of 2022, growing at a CAGR of 9.5% between 2017 and 2022.
Browse through 36 Tables & 53 Figures spread over 110 Pages and in-depth TOC on "Global Aerial Equipment Market: Industry Size, Share, Key Drivers and Forecast 2016 – 2022".
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Market Report Highlights:
- Rapid growth in the construction industry, strict adherence to human safety concerns, and the stringent labor laws and government regulations are factors boosting the growth of the global aerial equipment market.
- High capital investment requirement is expected to limit the growth of the global aerial equipment market.
- Leading rental companies are also opting for fleet diversification by increasing the use of very high aerial equipment and using self-propelled equipment with advanced and customized telematics.
- Rising demand for aerial equipment from the telecommunication and electrical lines maintenance business vertical is another factor fuelling the growth of the global market.
- Boom lifts segment is poised for high growth in the years to come on account of increasing usage of boom lifts for tricky architecture or smaller spaces with limited access.
- In terms of volume, self-propelled lift segment held 34.01% share of the total market in 2014 and is anticipated to show exponential growth in the years to come.
- Increasing demand for fire safety in the developed countries and the need for advanced firefighting apparatus is expected to augment the market growth.
- North America aerial equipment market is expected to dominate the global market, owing to the growing demand for the advanced construction equipment technology with comparatively high adoption for the technology than rest of the world.
The augmenting construction market across the world has boosted the construction equipment industry revenue thus contributing to the growth of the aerial equipment market. Growth in the construction industry, stringent labor laws and government regulations, and strict adherence to human safety concerns are some of the other factors driving the growth of the global aerial equipment market.
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Scissors lifts are used commonly in the aerial working platforms contributing a major share in the market. The demand for the maintenance and installation applications has increased at a rapid rate thus fueling the demand for the scissor lifts over the coming years. In addition, the operational benefits that are offered by the scissor lifts such as maneuvering capability in tight spaces drive the product demand.
The vehicle-mounted lift dominated the type segment in terms of revenue owing to the technological advancements and the new product innovations. In terms of volume, vehicle-mounted lifts held around 50% market share in 2016.
Browse the full "Global Aerial Equipment Market, By Product (Atrium / Spider Lifts, Boom Lifts, Cranes, and Scissor Lifts); By Technology (Unpowered, Self-propelled, and Vehicle-mounted); By Ownership (Rental and End-Use Industry); By End-User (Fire Brigade, Industrial, Power Plant, Construction, Ship & Offshore, and Others (Glass Cleaning, and Maintenance)) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2022" report at https://www.zionmarketresearch.com/report/data-quality-tools-market
The rapid growth of construction equipment rental market over the forecast period is expected to create potential opportunities for the aerial equipment manufacturers in the global market. The demand for rental equipment is growing in the construction industry across the globe owing to lack of investment.
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Some of the prominent market players in the aerial equipment market are Altec Industries, Aerial Access Equipment, Elliott Equipment Company, Grove, Haulotte, JLG, Linamar, MEC Aerial Work Platforms, Manitex International among others.
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Market Segmentation
Global Aerial Equipment Market: By Product
- Atrium / Spider Lifts
- Boom Lifts
- Cranes
- Scissor Lifts
Global Aerial Equipment Market: By Technology
- Unpowered
- Self-propelled
- Vehicle-mounted
Global Aerial Equipment Market: By Ownership
- Rental
- End-Use Industry
Global Aerial Equipment Market: By End-User
- Fire Brigade
- Industrial
- Power Plant
- Construction
- Ship & Offshore
- Others (Glass Cleaning, Maintenance)
Global Aerial Equipment Market: By Region
- North America
- U.S
- Rest of North America
- Europe
- France
- U.K.
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- The Middle East and Africa
- GCC Countries
- Southern Africa
- Rest of MEA
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