At 7.1% CAGR, Europe Aerial Work Platform Market is Projected to be Worth US$ 8,514.60 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe aerial work platform market was valued at US$ 4,900.93 million in 2022 and is expected to reach US$ 8,514.60 million by 2030, registering a CAGR of 7.1% from 2022 to 2030. Increasing trend of renting equipment and growing demand for electric and hybrid-powered aerial work platforms are among the critical factors attributed to drive the Europe aerial work platform market growth.

The increasing trend of renting equipment rather than outright ownership aligns with the evolving needs and preferences of businesses across industries. Renting AWPs provides businesses with a cost-efficient alternative to purchasing, particularly for those with intermittent or project-specific needs. This approach allows companies to allocate capital to other critical areas while still gaining access to advanced and specialized AWP models. Renting allows businesses to access the latest and most advanced AWP models without the upfront capital investment. This is particularly advantageous in industries where technological innovation and efficiency are crucial for staying competitive. Many businesses have short-term or project-specific requirements for elevated work platforms. Renting AWPs caters to these needs effectively, allowing companies to secure the equipment for the duration of the project without the burden of long-term ownership commitments. The rising demand for rental services contributes to the growth of the broader rental industry. Thus, the increasing trend of renting equipment is anticipated to create numerous opportunities for the aerial work platforms market during the forecast period.

On the contrary, load capacity limitations hurdle the growth of Europe aerial work platform market.

Based on type, the Europe aerial work platform market is segmented into scissor lifts, boom lifts, telehandlers, vertical mast lifts, and others. The scissor lifts segment held 54.5% market share in 2022, amassing US$ 2,671.47 million. It is projected to garner US$ 4,162.48 million by 2030 to register 5.7% CAGR during 2022-2030.

In terms of end user, the Europe aerial work platform market is segmented into construction, utility, mining, transport & logistics, and others. The construction segment held 58.8% share of Europe aerial work platform market in 2022, amassing US$ 2,881.35 million. It is anticipated to garner US$ 4,719.95 million by 2030 to expand at 6.4% CAGR during 2022-2030.

Based on country, the Europe aerial work platform market is categorized into Germany, Italy, France, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 22.6% share of Europe aerial work platform market in 2022. It was assessed at US$ 1,107.71 million in 2022 and is likely to hit US$ 1,731.02 million by 2030, registering a CAGR of 5.7% during 2022-2030.

Key players operating in the Europe aerial work platform market IMER International SpA, Hinowa SpA, Terex Corp, Tadano Ltd, Sany Palfinger SPV Equipment Co Ltd, Jinan Nostec Equipment Co Ltd, JLG Industries Inc, and Xuzhou Construction Machinery Group Co Ltd, among others.

• In June 2023, JLG unveiled the X660SJ compact crawler boom lift. The X660SJ boasts a platform height of 65 feet, 7 inches, a 500-pound capacity for up to two people, a 39-foot horizontal reach, and the ability to be used both indoors and outdoors.
  
  
• In January 2022, JLG Industries Inc partnered with RE2 Robotics, a developer of intelligent robotic mobile manipulation systems. The partnership aims to develop the integration of robotics and access equipment to increase operator safety and productivity on job sites.
  
  

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