Aerial Work Platforms Market Outlook:
Aerial Work Platforms Market size was valued at USD 19.53 billion in 2024 and is likely to cross USD 42.95 billion by 2034, expanding at more than 8.2% CAGR during the forecast period i.e., between 2025-2034. In the year 2025, the industry size of aerial work platforms is assessed at USD 20.89 billion.
Key Aerial Work Platforms Market Insights Summary:
North America industry is projected to capture the largest aerial work platforms market share, reaching 35.8% by 2034.
The Asia Pacific region is anticipated to experience the most significant revenue growth throughout the forecast timeline.
The construction segment is forecasted to contribute 46.1% to the overall aerial work platforms market share during the projected period.
The boom lift segment is predicted to secure over 16.6% of the market share by the close of 2034.
Key Growth Trends:
- Growing renewable energy projects
- Increasing focus on worker safety
Key Players
- Sinoboom, JLG Industries, Manitou Group, Terex Corporation, Sany Group, Palfinger AG, XCMG Group, United Rentals, Inc., Zhejiang Dingli Machinery Co, Ltd, Dinolift OY, Linamar Corporation.
Market Size and Growth Projections:
- 2024 Market Size: USD 19.53 billion
- 2025 Market Size: USD 20.89 billion
- Projected Market Size: USD 42.95 billion by 2034
- Growth Forecasts: 8.2% CAGR (2025-2034)
- Largest Region: North America (35.8% Share by 2034)
- Fastest Growing Region: Asia Pacific
A major driver for the market’s rise is owing to the construction boom in many regions. The construction boom is attributed to increasing urbanization and infrastructure development leading to growing demands for aerial work platforms.
Aerial work platforms (AWPs) are being used across various sectors such as manufacturing, construction, logistics, and telecommunications, etc. AWPs are vital to conduct maintenance and repair works. In January 2024, the Council of Tall Buildings and Urban Habitat reported 2023 to be a record-breaking year for the completion of high-rise buildings with 180 buildings of height 200 meters or more being completed. The report indicates a positive trend in high-rise constructions after the slowdown during the pandemic that will help propel market growth.
The Council of Tall Building and Urban Habitat’s report estimates a 15.4% increase in the completion of high-rise buildings in 2023, compared to the previous year. Additionally, global figures indicate a prominent rise in the construction of two-hundred-meter and three-hundred-meter-tall buildings from 2015 to 2023 boding well for the aerial work platforms market. Another key market driver is the rapid rise in urbanization which correlates with an increase in construction activities.
A UN Trade and Developments statistics report indicates the share of the urban population living in cities globally stands at 56.9% in 2022, with the developed regions accounting for 79.6% of the urban population and developing economies accounting for 52.3%. To accommodate the rising demands of the urbanized population for better housing and the growth of industrial sector, construction activities have increased globally. This has directly contributed to rising profit share for the aerial work platforms market.
Aerial Work Platforms Market Growth Drivers and Challenges:
Growth Drivers
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Growing renewable energy projects: There has been an increase in investments in renewable energy projects, driving the need for aerial work platforms. Missions like United Nations Goal 7 to provide universal access to modern, reliable, and affordable energy sources by 2030 are leading to more investments in renewable energy projects. The International Energy Agency (IEA) states that global spending on renewable energy exceeded USD 3 trillion in 2024. AWP is used in renewable energy projects for turbine maintenance, blade repair, wind turbine cleaning, etc. For instance, Palazzani launched Spider Lifts for the renewable energy industry in July 2022 to cater to the growing demands of its customers.
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Increasing focus on worker safety: There has been a rising awareness of the need for worker safety in various industries. In June 2022, the International Labor Organization (ILO) took a landmark decision so that all member states commit to the promotion of a safe and healthy environment and minimize occupational accidents. This prompted governments to enforce safety regulations stringently leading to greater demands for aerial work platforms that prioritize worker safety. AWPs such as aerial lifts significantly improve worker safety and improve work efficiency. In July 2023, Hered launched the Diesel Telescopic Boom Lift equipped with platform controls and emergency shutdown features to improve worker safety. It is expected that more industries will switch to AWP solutions from traditional solutions such as ladders and scaffolding.
- Rapid urbanization: The significant rate of urbanization is a key driver of the increasing revenue share of the aerial work platforms market. The high rate of urbanization increases construction activities in urban spaces as the growing population needs to be accommodated. The demands of a rising urban population also boost construction activities as malls, theatres, shopping complexes, food courts, corporate offices, etc., are built. The UN Department of Social and Economic Affairs (DESA) projects that 68% of world's population to live in urban areas by 2050. To tackle the demands for increasing high-rise constructions for a rapidly urbanized population, AWP shipping by rental companies is expected to boom.
Challenges
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Navigating the boom-and-bust cycles: The aerial work platforms market is known to have strong boom-and-bust cycles where there are periods of significant market expansion followed by recession. During bust cycles, the demands can plummet leading to excess capacity and lower prices. Rental companies and other businesses need to be prepared to handle the economic downturn associated with this market as often bust cycles can lead to business closures and layoffs.
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Overreliance on vendors: The AWP market depends on a network of specialized vendors for parts and maintenance services. Heavy reliance on vendors can create bottlenecks if there are disruptions in supply leading to increased operational expenses. Outsourcing maintenance and repair can also dilute a company’s control over the quality and timeliness of the services. Additionally, added security risks is a constraint in the market growth.
Aerial Work Platforms Market Size and Forecast:
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2034 |
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CAGR |
8.2% |
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Base Year Market Size (2024) |
USD 19.53 billion |
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Forecast Year Market Size (2034) |
USD 42.95 billion |
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Regional Scope |
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Aerial Work Platforms Market Segmentation:
End user Segment Analysis
The construction segment will account for 46.1% aerial work platforms market share during the forecast period. The construction segment serves as one of the largest end users of aerial work platform machines. Boom lifts, scissor lifts, vertical mast lifts, etc., are essential tools in the construction segment for their ability to provide access to elevated areas. As construction activities are booming globally owing to a rapid increase in urbanization, the segment is poised to remain as a key consumer of AWPs. For instance, in September 2022, a Research Gate study estimated a 25% gain in productivity and 10% installation cost savings in construction projects with the use of AWP.
The maintenance and cleaning segment is estimated to have rapid growth during the forecast period and increase its revenue share in the market. The rise in construction and maintenance of high-rise buildings has a direct correlation to the growth of this segment. Façade maintenance, window cleaning, and industrial equipment upkeep among other tasks require the use of AWPs to access elevated areas while ensuring worker safety. AWPs such as scissor lifts, boom lifts, and vertical mat lifts are essential for this segment.
With the global awareness of worker safety rising and the rate of construction and maintenance activities growing, the demand for AWPs is projected to increase for this segment. Manufacturers in this segment are continuously innovating AWP efficiency and safety to cater to the growing demands; for instance, in December 2022, JLG launched two models of E18 vertical mast lifts ideal for maintenance and cleaning work.
Type Segment Analysis
Boom lift segment is expected to hold aerial work platforms market share of over 16.6% by the end of 2034. Boom lifts are used across various industries owing to their versatility. They are characterized by their telescopic boom arms which allow precise positioning and reach. Boom lift usage is growing in infrastructure maintenance, tree trimming, and landscaping, event setups, filming, construction activities, and industrial maintenance. For instance, a Research Nester report indicated that approximately 590,000 bridges across the U.S. require maintenance. The growing need for renovation and construction activities is poised to continue driving profit share for this segment.
The scissor lift segment is expected to register rapid revenue CAGR in the AWP market and is estimated to increase its profit share during the forecast period. Key drivers for this segment include its wide usage for tasks that require vertical elevation in indoor and outdoor environments. Additionally, the ability to lift multiple workers and equipment simultaneously increases the demand for scissor lifts in various sectors. In recent years, the demand for scissor lifts has witnessed a surge in the entertainment industry owing to its use in camera operations, lighting, security, set construction, etc. With growing investments in the entertainment industry and a surging number of large-budget films, the demands for scissor lifts are expected to propel forward. In March 2024, JLG announced the fuel-efficient SkyTrak Telehandler designed to assist in aerial filmmaking.
Our in-depth analysis of the aerial work platforms market includes the following segments
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End user |
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Type |
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Propulsion Type |
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Platform Working Height |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Aerial Work Platforms Market Regional Analysis:
North America Market Insights
North America industry is likely to account for largest revenue share of 35.8% by 2034. The growth in this region is attributed to significant investments in construction, infrastructure, manufacturing, entertainment, and other sectors where AWPs are largely used. The U.S. and Canada lead the market growth in North America. For instance, the Associate General Contractors of America (AGC) estimated more than 919,000 construction establishments in the U.S. in the first quarter of 2023.
U.S. is set to account for the largest revenue share in the North America aerial work platforms market during the forecast period. The U.S. has a vast network of powerlines, pipelines, and bridges that require regular maintenance boosting the demand for AWPs. In June 2023, the U.S. Department of the Treasury reported a boom in the construction of manufacturing facilities with an increase in spending on non-residential constructions. Additionally, a large number of small and medium-sized contractors along with larger construction firms are increasingly relying on rental services for AWPs. Additionally, the rate of urbanization in the U.S. in 2020 was reported at 80% i.e. higher than the global average. The high urbanization rate is increasing the demand for housing infrastructure in urban areas leading to a surge in demand for AWPs in construction.
Canada is a significant contributor to the AWP market owing to large-scale construction projects and infrastructure development activities in the country. Government initiatives such as the Investing in Canada plan are boosting the infrastructure growth in the nation with over USD 33 billion invested in infrastructure. Additionally, the Canadian Centre for Occupational Health and Safety (CCOHS) enforces stringent guidelines for work-at-height operations which drives the demand for robust AWPs.
Due to a strong sports eco-system, there are 4 major stadiums currently being constructed in Canada i.e. Mosaic Stadium, Tim Hortons Field, BMO Field, and Investors Group Field, which is increasing the need for AWPs in construction. The market is witnessing the emergence of new players along with old players consolidating their presence. For instance, in October 2023, LOU-TEC and Torcan Lift Equipment announced their partnership with both companies declaring revenue growths in recent years.
APAC Market Insights
Asia Pacific is estimated to witness the largest growth in revenue share during the forecast period. The region’s growth is attributed to the presence of emerging economies such as China, India, South Korea, Japan, etc. The high population density, coupled with rapid urbanization rates has boosted the construction activities in the region leading to a significant increase in demand for AWP solutions. The Department of Economic and Social Affairs of the UN estimated that 54% of the world’s urban population is concentrated in Asia leading to increasing demands for housing solutions.
India is projected to have profitable revenue growth during the forecast period owing to rapid urbanization, increasing scale of construction activities, and government initiatives such as smart city plans that require large-scale construction projects requiring AWP solutions. For instance, in March 2024, the Prime Minister of India launched multiple connectivity projects in the state of Kolkata worth USD 1.8 billion.
The government has also laid out plans to build 35 multimodal logistics parks (MMLPS) at a capital cost of USD 6.1 billion. Additionally, the high rate of population density in urban areas such as Mumbai and Bangalore have led to the rapid construction of residential and commercial apartment complexes. With the construction sector seeing a major boom in the nation, the demand for AWPs is projected to significantly rise contributing to the revenue surge of the market.
China is a major hub leading the demand for AWP solutions to cater to the increasing construction activities in the region. China is the largest exporter of aerial work platforms globally in addition to leading in the use of AWPs in Asia Pacific. The Council on Tall Buildings and Urban Habitat stated China has the highest number of skyscrapers over 200 meters in height. China had more high-rise buildings exceeding 200 meters or more in height compared to the rest of the countries combined. The trend of building high-rises in China positively contributes to the increasing demand for AWP solutions.
The high-rise constructions also require periodic maintenance and cleaning where AWPs come in handy. The local players in the aerial work platforms market well have established themselves in this sector. For instance, in October 2023, Sinoboom launched a new 14-meter telescopic boom lift i.e. TB14J Plus to cater to rising international demand for low-rise construction projects.
Japan is a rising market in the aerial work platforms sector projected to see a profitable revenue growth during the forecast period. The large-scale redevelopment plans and rapid urbanization in Japan are key to market growth. Japan is undergoing a large-scale redevelopment project called the Once in a Century undertaking that is set to redevelop multiple residential and commercial buildings to bring them up to current disaster-proof standards. The massive redevelopment initiative is poised to lead the surge in demand for AWP solutions in construction. Additionally, the World Economic Forum reported eight major commercial high-rise buildings to be constructed in Japan by 2029 which will boost the AWP market.
Key Aerial Work Platforms Market Players:
- Sinoboom
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- JLG Industries
- Manitou Group
- Terex Corporation
- Sany Group
- Palfinger AG
- XCMG Group
- United Rentals, Inc.
- Zhejiang Dingli Machinery Co, Ltd
- Dinolift OY
- Linamar Corporation
Aerial work platforms market is poised for a considerable CAGR during the forecast period. The competitive sector is marked by the presence of global and regional players competing to increase their market share. Key market players are investing in acquisitions and launching state-of-the-art AWP platforms to cater to growing safety concerns globally.
Some of the key players in the market are:
Recent Developments
- In May 2024, Skyjack announced the launch of the all-new Electric Boom Range. The product is suitable for indoor and outdoor use with 15.7 meters and 20.1 meters of working height.
- In February 2024, Manitou Group launched the new scissor lifts range. All three new models are certified with Manitou’s robust quality standards.
- In November 2020, LGMG launched the newly designed boom lift products at BAUMA China. The new products have higher capacity and bigger platforms.
- Report ID: 189
- Published Date: Jun 13, 2025
- Report Format: PDF, PPT
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