The Aerial Equipment market accounted for USD 12,121.87 Million in 2020 and is expected to reach USD 23,346.06 Million by 2028, growing at a CAGR of 10.6% from 2021 to 2028.
Market Overview
The Aerial Equipment market accounted for USD 12,121.87 Million in 2020 and is expected to reach USD 23,346.06 Million by 2028, growing at a CAGR of 10.6% from 2021 to 2028.
Aerial equipment are mechanical devices that provide lift access for operators to inaccessible areas, with objects generally above two meters. Rapid urbanization has caused increased number of infrastructure projects and dependence on machines has caused the aerial equipment industry to flourish. Additionally, increasing investments made by the local body administration in the industrial sector such as building airports and stadiums are giving vast opportunities for the aerial equipment industry.
The construction industry’s growth over the years backed by strict labor laws along with supportive government regulations are the real motivating factors for the market over the upcoming years. Due to the existing demand and less time for completing construction projects, the market for mobile cranes is increasing. Although, high capital investments in the industrial lifting equipment can cause the decline in the growth of the market over the forecast period. All the more, increasing advancements in the equipment to enhance product capability and operational performance will propel the demand in the aerial equipment market.
COVID-19 Impact Analysis
The entire world was forced to go on a shutdown, causing all the labor-intensive activities to come to a saturation point, due to the outbreak of the pandemic. Due to the government regulations to save the people from the pandemic, there emerged a compulsive need to mechanize the labor dependent work sectors. Factors like the shortage of labor and raw materials resulted in several problems in the development & design department of new equipment. All of this created a drastic gap in supply and demand, impacting the revenues of market players. Many factories were shut down, cross-countries trade restrictions were imposed, therefore production was at stake in the aerial equipment market.
Growth Factors
Increasing technological advancements and the growing need for coping up with the change in supply-demand chain, lack of labor and work efficiency requirements have worked in favor of the aerial equipment market. Furthermore, every with local government’s extensive support bringing smart city schemes into action has caused rapid urbanization. This in case led to a movement and steep increase in construction contracts.
There was a pressing need to complete construction contracts with utmost efficiency; which would not be possible without Aerial equipment for hassle free work. The Construction industry across the globe is expected to revive the construction equipment industry revenue. Hence the global aerial equipment market is also growing. Growth in the construction industry, government regulations, and strict adherence to human safety concerns are some of the other factors driving the growth of the global aerial equipment market.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Product Type Segment Analysis Preview
Based on Product, the market is divided into Atrium / Spider Lifts, Boom Lifts, Cranes, Scissor Lifts. The boom lifts segment holds dominance by holding the largest market share and is expected to witness the highest numbers for the forecast period. The attributed factors are increasing usage in complex architectural settings or limited work space.
With features such as tight turning radius, Atrium/Spider Lifts oscillating axle, more platform height, mobility, and compact design, boom lifts have an obvious edge over the other product types. However, the scissor lifts have manoeuvring capability in tight spaces thus being used increasingly. The growing demand for scissor lifts in the maintenance and installation usage is likely to hike in the coming years.
Ownership Type Analysis Preview
Considering segmentation on the basis of ownership, the demand for the rental equipment is growing in the construction industry across the globe. Hence there is a notable growth of the construction equipment rental market which has opened up potential opportunities for the aerial equipment manufacturers. After analyzing the costs and consequential effects, it rental equipment is more profitable than end-user type of ownership.
End-User Type Segment Analysis Preview
On the basis of End-User, the market is bifurcated into Fire Brigade, Industrial, Power plant, Construction, Ship & Offshore and others. The construction sector dominated the end-user industry segment. The construction sector is expected to grow at a drastic measure due to increasing government and private investment in the real-estate sector and infrastructure development. Additionally, the growing concerns regarding the worker safety also anticipate increase in demand for the aerial equipment in the construction industry.
Regional Analysis Preview
Having witnessed more than 32.3% of the aerial work platforms market share in 2020, by Europe electric segment. By surging demand for maintenance and repair services in the residential construction segment, it is expected to grow significantly in the forecasted period.
Considering all the escalating awareness of consumers in relation to cost-effectiveness of the equipment, Asia Pacific aerial equipment market is likely to expand over the coming years, and massive funding by the government authorities in countries such as China, Malaysia, and India in Asia is expected in the coming years.
Key Market Players & Competitive Landscape
Some of the leading players in the market are Altec Industries, Aerial Access Equipment, Elliott Equipment Company, Grove, Haulotte, JLG, Linamar, MEC Aerial Work Platforms, Manitex International, Manitou, Nifty-lift, Oshkosh Corporation, Reachmaster, Snorkel, Terex Corporation, Tadano, Toyota Material Handling U.S.A(Aichi), and XCMG Group.
The global aerial equipment market is segmented as follows:
By Product:
By Technology:
By Ownership:
By Region
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Product Type
FIG NO. 2. Market Attractiveness Analysis, By Technology
FIG NO. 3. Market Attractiveness Analysis, By Ownership
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Aerial equipment Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Product Type, 2020 & 2028
FIG NO. 8. Global Aerial equipment Market for Atrium/Spider Lifts, Revenue (USD Million) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Aerial equipment Market for Atrium/Spider Lifts, By Country, 2020 & 2028
FIG NO. 10. Global Aerial equipment Market for Boom Lifts, Revenue (USD Million) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Aerial equipment Market for Boom Lifts, By Country, 2020 & 2028
FIG NO. 12. Global Aerial equipment Market for Cranes, Revenue (USD Million) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Aerial equipment Market for Cranes, By Country, 2020 & 2028
FIG NO. 14. Global Aerial equipment Market for Scissor Lifts, Revenue (USD Million) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Aerial equipment Market for Scissor Lifts, By Country, 2020 & 2028
FIG NO. 16. Market Revenue Share, By Technology, 2020 & 2028
FIG NO. 17. Global Aerial equipment Market for Scissor Unpowered, Revenue (USD Million) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Aerial equipment Market for Scissor Unpowered, By Country, 2020 & 2028
FIG NO. 19. Global Aerial equipment Market for Self-propelled , Revenue (USD Million) 2016 – 2028
FIG NO. 20. Comparative Revenue Analysis of Aerial equipment Market for Self-propelled , By Country, 2020 & 2028
FIG NO. 21. Global Aerial equipment Market for Vehicle-mounted, Revenue (USD Million) 2016 – 2028
FIG NO. 22. Comparative Revenue Analysis of Aerial equipment Market for Vehicle-mounted, By Country, 2020 & 2028
FIG NO. 23. Market Revenue Share, By Ownership, 2020 & 2028
FIG NO. 24. Global Aerial equipment Market for Rental, Revenue (USD Million) 2016 – 2028
FIG NO. 25. Comparative Revenue Analysis of Aerial equipment Market for Rental, By Country, 2020 & 2028
FIG NO. 26. Global Aerial equipment Market for End-Use Industry, Revenue (USD Million) 2016 – 2028
FIG NO. 27. Comparative Revenue Analysis of Aerial equipment Market for End-Use Industry, By Country, 2020 & 2028
FIG NO. 28. Global Aerial equipment Market for Scissor Lifts, Revenue (USD Million) 2016 – 2028
FIG NO. 29. Comparative Revenue Analysis of Aerial equipment Market for Scissor Lifts, By Country, 2020 & 2028
FIG NO. 30. Global Aerial equipment Market Revenue Share, By Region, 2020 & 2028
FIG NO. 31. North America Aerial equipment Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 32. Porter’s Five Forces Analysis for Global Aerial equipment Market
FIG NO. 33. PEST Analysis for Global Aerial equipment Market
FIG NO. 34. Pricing Analysis for Global Aerial equipment Market
FIG NO. 35. Value Chain Analysis for Global Aerial equipment Market
FIG NO. 36. Company Share Analysis, 2019
FIG NO. 37. Radar Determinant Chart, 2019
FIG NO. 38. Company Strategic Developments – Heat Map Analysis
FIG NO. 39. Emerson Electric Co Business Segment Revenue Share, 2020 (%)
FIG NO. 40. Emerson Electric Co Geographical Segment Revenue Share, 2020 (%)
FIG NO. 41. Market Channels
FIG NO. 42. Marketing Channel Development Trend
FIG NO. 43. Growth in World Gross Product, 2008-2018
FIG NO. 44. Research Methodology – Detailed View
FIG NO. 45. Research Methodology
List of Tables
TABLE NO. 1. Global Aerial equipment Market: Snapshot
TABLE NO. 2. Quarterly Aerial equipment Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Aerial equipment Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Aerial equipment Market for Atrium/Spider Lifts, by Region, 2016 – 2028 (USD Million)
TABLE NO. 7. Global Aerial equipment Market for Boom Lifts, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8. Global Aerial equipment Market for Cranes, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9. Global Aerial equipment Market for Scissor Lifts, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10. Global Aerial equipment Market for Scissor Unpowered, by Region, 2016 – 2028 (USD Million)
TABLE NO. 11. Global Aerial equipment Market for Self-propelled , by Region, 2016 – 2028 (USD Million)
TABLE NO. 12. Global Aerial equipment Market for Vehicle-mounted, by Region, 2016 – 2028 (USD Million)
TABLE NO. 13. Global Aerial equipment Market for Rental, by Region, 2016 – 2028 (USD Million)
TABLE NO. 14. Global Aerial equipment Market for End-Use Industry, by Region, 2016 – 2028 (USD Million)
TABLE NO. 15. Global Aerial equipment Market for Scissor Lifts, by Region, 2016 – 2028 (USD Million)
TABLE NO. 16. Global Aerial equipment Market Revenue, By Region, 2016 – 2028 (USD Million)
TABLE NO. 17. North America Aerial equipment Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 18. North America Aerial equipment Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 19. North America Aerial equipment Market Revenue, By Technology, 2016 – 2028 (USD Million)
TABLE NO. 20. North America Aerial equipment Market Revenue, By Ownership, 2016 – 2028 (USD Million)
TABLE NO. 21. U.S. Aerial equipment Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 22. U.S. Aerial equipment Market Revenue, By Technology, 2016 – 2028 (USD Million)
TABLE NO. 23. U.S. Aerial equipment Market Revenue, By Ownership, 2016 – 2028 (USD Million)
TABLE NO. 24. Canada Aerial equipment Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 25. Canada Aerial equipment Market Revenue, By Technology, 2016 – 2028 (USD Million)
TABLE NO. 26. Canada Aerial equipment Market Revenue, By Ownership, 2016 – 2028 (USD Million)
TABLE NO. 27. Mexico Aerial equipment Market Revenue, By Product Type, 2016 – 2028 (USD Million)
TABLE NO. 28. Mexico Aerial equipment Market Revenue, By Technology, 2016 – 2028 (USD Million)
TABLE NO. 29. Mexico Aerial equipment Market Revenue, By Ownership, 2016 – 2028 (USD Million)
TABLE NO. 30. Drivers for the Aerial equipment Market: Impact Analysis
TABLE NO. 31. Restraints for the Aerial equipment Market: Impact Analysis
TABLE NO. 32. Major Buyers of Aerial equipment
TABLE NO. 33. Distributors/Traders List of Aerial equipment
TABLE NO. 34. Global Aerial equipment Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 35. Global Aerial equipment Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
This report is based on in-depth qualitative and quantitative analyses of the global Aerial Equipment market. Zion Market Research has collected and analyzed key data belong to the global Aerial Equipment market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Aerial Equipment across the world has been calculated through primary and secondary research.
Zion Market Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Market Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Aerial Equipment industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases, and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Aerial Equipment market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Request the coronavirus impact analysis across industries and markets
The global Aerial Equipment market was valued at USD 12,121.87 Million in 2020.
The global Aerial Equipment market is expected to reach USD 23,346.06 Million by 2028, growing at a CAGR of 10.6% between 2021 to 2028.
Increasing technological advancements and the growing need for coping up with the change in supply-demand chain, lack of labor and work efficiency requirements have worked in favor of the aerial equipment market. Furthermore, every with local government’s extensive support bringing smart city schemes into action has caused rapid urbanization. This in case led to a movement and steep increase in construction contracts. There was a pressing need to complete construction contracts with utmost efficiency; which would not be possible without Aerial equipment for hassle free work.
Having witnessed more than 70% of the aerial work platforms market share in 2020, by Europe electric segment. By surging demand for maintenance and repair services in the residential construction segment, it is expected to grow significantly in the forecasted period.
Some of the leading players in the market are Altec Industries, Aerial Access Equipment, Elliott Equipment Company, Grove, Haulotte, JLG, Linamar, MEC Aerial Work Platforms, Manitex International, Manitou, Nifty-lift, Oshkosh Corporation, Reachmaster, Snorkel, Terex Corporation, Tadano, Toyota Material Handling U.S.A(Aichi), and XCMG Group.
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