Aerial work platform rental Market Expected to Reach $69.0 Billion by 2030

WILMINGTON, DELAWARE, November 23, 2023 /EINPresswire.com/ -- Aerial work platforms play a crucial role across diverse industries, including telecommunications, construction, logistics, and transportation, catering to a range of functions. These platforms, available for rent or lease during specified periods, are integral for activities such as the construction of elevated structures, duct repairs, and overhead wire maintenance. The primary objective is to facilitate access to previously unreachable locations at predetermined heights for both equipment and personnel. Noteworthy features include the incorporation of compressed air and power tool sockets, along with windowpane frame support systems.

The aerial work platform rental market size was valued at $41.4 billion in 2020, and is estimated to reach $69.0 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.

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Anticipated developments in battery technologies are poised to drive future trends in the electric aerial work platform rental market. Enhanced emission standards and restrictions on the use of engine-powered aerial work platforms indoors create opportunities for electric and hybrid alternatives, thereby contributing to the expansion of the aerial work platform industry.

The upswing in government investments, particularly in developing nations like China and India, is fostering infrastructure development across sectors such as roadways, communications, power generation, and transportation. The surge in population in these regions underscores the growing demand for both rural and urban infrastructure projects. Governments are responding by allocating substantial funds to enhance infrastructure; for instance, the Indian Union budget for 2022 outlines an allocation of approximately $131 billion for infrastructure improvements. Additionally, the continuous progress in technology and the integration of features, including improved system security, contribute to the growth of the aerial work platform rental market.

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Regional Analysis:

Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the aerial work platform rental market share, and LAMEA is anticipated to secure a leading position during the forecast period.

Segmentation Based On:

By Product Type
Boom
Scissor
Vehicle Mounted Platforms
Others

By Application
Utility
Manufacturing
Construction
Others

Top Players:
The major players profiled in the aerial work platform rental market analysis include Ashtead Group plc. (Sunbelt Rentals Ltd), Aktio Corporation, AFI Uplift Ltd., Herc Rentals Inc., Haulotte Group, H&E Equipment Services, Inc., Loxam, Riwal, Sumitomo Corporation (Sunstate Equipment Company), and United Rentals, Inc.

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David Correa
Allied Analytics LLP
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