Research Nester has released its report titled “Global Aerial Work Platform Market: Global Demand Analysis & Opportunity Outlook 2016-2023” thatdelivers detailed overview of the global aerial work platform market in terms of market segmentation by mechanism, product type, fuel type, platform height, end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global aerial work platform market is anticipated to witness noteworthy growth and is estimated to register a CAGR growth of 6.2% over the forecast period (2016-2023), owing to the power sector experiencing rapid growth followed by increasing number of repair and maintenance activities around the world. Apart from that, the construction sector is witnessing increase in investments and there is growing adoption of equipment that are safe and that which is able to save time.
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The global aerial work platform market is anticipated to witness significant growth and is expected to generate USD 14.2 billion by 2023. The growth of the market is driven by various factors being growth in infrastructure and construction of buildings especially in developing economies. Additionally, numerous types of aerial work platform are being offered as per the technicians and workers requirements which are some of the primary reasons that are gaining traction of builders and end-use industry. Further, with high rise buildings and sky scrapers adopting aerial work platforms all over the world and advancements happening in telecommunication sector for carrying out work from distant zones has aided the growth of the aerial work platform market.
However, the global aerial work platform market is anticipated to face some barriers to its growth, due to various factors such as the high costs of aerial work platforms, shortage of machine specific engineers, technicians and operators with the necessary skills, lesser awareness about aerial work platform in underdeveloped countries and the cost of maintenance of aerial work platforms being on the higher side. These factors are anticipated to act as major restraints to the growth of the market over the forecast period.
The global aerial work platform market is comprised of five segments which are segmented by mechanism, product type, fuel type, platform height and by end user. The construction segment forming part of end user is estimated to attain considerable growth over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global aerial work platform market which includes company profiling of Aichi Corporation (TYO: 6345), HDW Belux N.V., Teupen, Ruthmann, Morita Holdings Corporation (TYO: 6455), Haulotte (EPA: PIG) and Tadano (TYO: 6395). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global aerial work platform market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
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