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New Truck-Mounted Aerial Work Platform (AWP) Market Research | Market Planning Structure for the New Normal | Technavio

·3 min read

The new truck-mounted aerial work platform (AWP) market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201228005294/en/

Technavio has announced its latest market research report titled Global Truck-Mounted Aerial Work Platform (AWP) Market 2020-2024 (Graphic: Business Wire).

Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the truck-mounted aerial work platform (AWP) market.

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"One of the primary growth drivers for this market is the growing popularity of rentals," says a senior analyst for Industrials at Technavio. The vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover Technavio expects the truck-mounted aerial work platform (AWP) market size to grow by USD 273.80 million during the period 2020-2024.

Truck-Mounted Aerial Work Platform (AWP) Market Segment Highlights for 2020

  • The truck-mounted aerial work platform (AWP) market is expected to post a year-over-year growth rate of -5.28%.

  • Based on the end-user, the utility sector saw maximum growth in 2019. The increasing use of rental equipment will be one of the primary factors that will increase the truck-mounted aerial work platform market growth.

  • The market growth in the segment will be significant during the forecast period.

Regional Analysis

  • 39% of the growth will originate from the Europe region.

  • The rising government spending on infrastructural projects is one of the prime factors that will facilitate the truck-mounted AWP market growth in Europe over the forecast period.

  • The UK and Germany are the key markets for truck-mounted aerial work platforms in Europe.

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  • The truck-mounted aerial work platform (AWP) market size is expected to accelerate at a CAGR of over 3% during the forecast period.

  • The truck-mounted aerial work platform (AWP) market is segmented by the end-user (Utility sector, Construction sector, and Others) and geography (Europe, North America, APAC, MEA, and South America).

  • The market is fragmented due to the presence of many established vendors holding significant market share.

  • The research report offers information on several market vendors, including A Time Manufacturing Co., AICHI Corp., Altec Inc., CELA Srl, CTE S.p.A., Manitex International Inc., Morita Holdings Corp., PALFINGER AG, RUTHMANN GmbH & Co. KG, and Terex Corp.

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201228005294/en/


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