MarketResearchNest.com adds “Global Truck-Mounted Aerial Work Platform (AWP) Market 2017-2021” new report to its research database. The report spread across 76 pages with table and figures in it.
Research analysts forecast the global truck mounted aerial work platform (AWP) market to grow at a CAGR of 6.04% during the period 2017-2021.
About Truck Mounted Aerial Work Platform (AWP)
An aerial work platform (AWP) is also commonly known as a man lift or lift. AWP refers to any machine that is used by people or equipment as access in hard-to-reach areas, which are too high to reach safely using other methods. There are several kinds of AWP like cherry pickers, scissor lifts, articulating lifts, and boom lifts.
A truck-mounted or vehicle-mounted aerial work platform is a type of AWP, which is mounted on a vehicle for easy transport. These AWPs are generally referred to as cherry-pickers, or mobile elevating work platforms (MEWPs). This configuration offers added support and stability on the work platform. These machines are equipped with outriggers to provide more stability during operations. They are used mostly in the utility industry.
Covered in this report
The report covers the present scenario and the growth prospects of the global truck mounted aerial work platform (AWP) market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price for the product.
Browse full table of contents and data tables at https://www.marketresearchnest.com/global-truck-mounted-aerial-work-platform-awp-market-2017-2021.html
The market is divided into the following segments based on geography:
Technavio’s report, Global Truck Mounted Aerial Work Platform (AWP) Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Truck Mounted Aerial Work Platform (AWP) Market 2017-2021
Technavio recognizes the following companies as the key players in the global truck mounted aerial work platform (AWP) market: CTE, MORITA HOLDINGS CORPORATION, Versa Lift, PALFINGER, and Terex
Other Prominent Vendors in the market are: Aichi, Altec Industries, Cela, CMC, Elliott Equipment Company, FRANCE ELÉVATEUR, GSR, HIDROKON, ISOLI, KLUBB, Manitex International, Manotti, MOOG, Multitel Pagliero, Niftylift, RUTHMANN, and SOCAGE.
Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is Demand for compact truck-mounted AWPs. Putting further reach into a smaller package is another significant trend in the industry. Increased demand for good reach on a small chassis is driving the market. Customers of truck-mounted AWPs are demanding the reduction of the overall gross weight of the vehicle to increase payload and enhance fuel efficiency.”
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According to the report, one of the major drivers for this market is Growing popularity of rentals. The increasing use of rental equipment will lead to a rise in the sales of truck-mounted AWPs to rental organizations as they like to keep their fleets up-to-date with the latest models. This will drive the volume growth of the equipment. The AWP equipment industry is capital-intensive. Funds are required for the acquisition and maintenance of equipment fleets, secure storage facilities, and for equipment operations. Factors such as cash inflows from businesses, equipment utilization, and dollar and time utilization, and higher prices have contributed to the growth of the rental market.
Further, the report states that one of the major factors hindering the growth of this market is Challenges in adopting new safety standards. Truck-mounted AWP manufacturers must deal with emission regulations for trucks and all the related issues of weight limits. In a continually changing and challenging market, new Euro V and Euro VI emission regulations have increased the weight of some truck elements like exhaust systems, therefore pushing manufacturers to redesign their machines to achieve 7,716-lb. vehicle conditions. These design changes will have an adverse impact on the cost of the machine and make them less competitive against competitor products.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key questions answered in this report: What will the market size be in 2021 and what will the growth rate be; What are the key market trends; What is driving this market; What are the challenges to market growth; Who are the key vendors in this market space; What are the market opportunities and threats faced by the key vendors; What are the strengths and weaknesses of the key vendors;
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Mr. Jeet Jain