(AWP) Aerial Work Platform Rental Market – Industry Growth Analysis & Forecast

The AWP rental market is expected to witness a lucrative growth rate in the forthcoming years owing to the increasing demand for advanced lifting equipment for maintenance & repair activities. The aerial work platform or AWP is generally cost-effective and easy to utilize. Owing to its lightweight and compact size it can be used in warehouses, churches, and schools, among others.
AWP also referred as an aerial device or elevated work platform is a mechanical device providing temporary access to people or equipment to places which are not accessible normally at a height. These devices are majorly utilized for maintenance or cleaning of building glasses/walls or for construction work. The firefighters too use the mobile elevating work platform to extinguish fire during the time of emergency.
Today, a wide range of aerial work platforms are available in the market for rent ranging from scissor lifts, telehandlers, boom lifts, etc. It is to be noted that going in for rental services, gives the consumer flexibility. This option further ensures that the consumer has the right lift for the job. One of the key factors that makes renting a good option is that it permits the customer to test the equipment before purchasing one. Also, in most of the rental companies the equipment is serviced and maintained before allotting it to the customer.
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The aerial work platforms are majorly used in the construction sector for working at height in almost any kind of environment which includes tracked aerial platforms and rough terrain aerial platforms. Thus, rental services are highly beneficial in the construction industry with most of the rental companies offering services package including training on operations & safety of its equipment, maintenance along with original equipment spare parts.
AWP rental market is segmented in terms of product, application, and regional landscape.
In terms of product, the overall AWP rental market is classified into personal portable lift, vertical mast lift, scissor lift, and boom lifts. The personal portable lift will witness a CAGR of over 3% over the forecast period due to the increasing demand for safe and secure lifting solutions.
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The personal portable lifts can easily be assembled in minutes and are highly portable in nature also featuring a convenient tool tray. Additionally, the product is one of the safer choices for plant & facility maintenance projects.
Based on application, the AWP rental market is categorized into government, construction, transportation & logistics, telecommunication, and others. The government sector will witness growth win to the increasing demand for advanced lifting equipment to perform maintenance & repair activities.
From a regional frame of reference, proliferation of regional construction industry will surge the product demand in Latin America.