Selbyville, Delaware, May 26, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on AWP rental market which estimates the global market valuation for aerial work platforms rental will cross US$ 25 billion by 2026. The increase in construction and industrial activities across the globe is driving the industry growth.
Asia Pacific and European governments are making large investments for the development of smart cities, compelling the demand for advanced construction equipment. The government of India is planning to invest approximately USD 30 billion for 89 cities under its smart city mission. This will surge the demand for access equipment over the forecast timeline. Additionally, the growing demand for advanced lifting equipment for enhancing worker safety is propelling the AWP rental market. Contractors are adopting this equipment over ladders or scaffolds to enhance safety at construction sites.
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The AWP rental market is anticipated to witness a slow growth due to the outbreak of COVID-19 in 2020. Government authorities have enforced lockdowns in several countries, which is restraining consumer movement. Moreover, temporary shutdown of manufacturing and distribution facilities of several companies has led to a global economic slowdown. This is anticipated to affect the AWP demand, impacting the AWP rental market growth.
Boom lifts are witnessing growth in the AWP rental market due to the increasing demand from construction, maintenance, and mining applications. These platforms offer high platform heights and enhanced working radius, supporting equipment adoption for various maintenance & installation works. Furthermore, boom lifts are increasingly used for indoor and outdoor cleaning of roofs, install & maintenance of streetlights, and various industrial applications, contributing to the AWP rental market development. The availability of boom lifts with a variety of working heights is attributing to industry development.
The proliferating telecommunication industry across the globe is attributing to the market demand. Telecom contractors use AWPs for the installation & maintenance of transformers, poles, and power cables. Moreover, the availability of electrically insulated aerial work platforms will support product adoption in areas where electrocution hazard exists. Rental companies are offering insulated access platforms to enhance operator safety at work sites. Companies are also providing safety training to reduce the chances of injuries & fatalities.
Browse key industry insights spread across 219 pages with 113 market data tables and 41 figures & charts from the report, “Aerial Work Platform (AWP) Rental Market Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/aerial-work-platform-awp-rental-market
Some major findings of the AWP rental market report include:
- Increasing infrastructure investments across the globe are driving the AWP rental market growth.
- These platforms are gaining high popularity in hotels, schools, and offices owing to their high safety as compared to its counterparts such as ladders.
- The demand for AWPs is anticipated to rise in telecommunication industry for maintenance and repair activities.
- Leading market players are focusing on enhancing their fleet size with new equipment to gain competitive edge over the rivals.
- Asia Pacific is one of the fastest-growing markets due to the proliferating construction as well as mining industries in India, China, Japan, and Australia.
Key players operating in the AWP rental market share include United Rentals, Haulotte Group, Herc Holdings Inc., AFI Uplift Ltd., Riwal, Blueline Rentals, Ashtead Group, Loxam, Kilotou, Nesco Rentals, Aktio Corporation, and Sunstate Equipment Company. Players are focusing on providing safety training to reduce the chances of operator injuries and equipment-related fatalities.
The increasing infrastructure and industrial projects across several European countries including Russia, Germany, and France are providing impetus to the regional AWP rental market growth. These platforms are increasingly used at offices, schools, and malls to perform several maintenance & repair activities. The increasing European government initiatives for smart city development is expected to propel the market demand.
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Partial chapters of report table of contents (TOC):
Chapter 3. AWP Rental Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.2.1. Rental landscape
3.2.1.1. Pros and cons – rent vs purchase AWPs
3.2.1.2. Cost calculator – rent vs purchase AWPs
3.3. Impact analysis of coronavirus COVID-19 pandemic
3.3.1. Global outlook
3.3.2. Impact by region
3.3.2.1. North America
3.3.2.2. Europe
3.3.2.3. Asia Pacific
3.3.2.4. Latin America
3.3.2.5. MEA
3.3.3. Industry value chain
3.3.3.1. Research and development
3.3.3.2. Manufacturing
3.3.3.3. Marketing
3.3.3.4. Supply
3.3.4. Competitive landscape
3.3.4.1. Strategy
3.3.4.2. Distribution network
3.3.4.3. Business growth
3.4. Industry ecosystem analysis
3.4.1. Component suppliers
3.4.2. Manufacturers
3.4.3. Software & technology providers
3.4.4. System integrators
3.4.5. Distribution channel analysis
3.4.6. End-use landscape
3.4.7. Vendor matrix
3.5. Technology & innovation landscape
3.6. Regulatory landscape
3.6.1.1. North America
3.6.1.1.1. Occupational Safety & Health Administration (OSHA)
3.6.1.1.1.1. OSHA 29 CFR 1926.21
3.6.1.1.1.2. The Scaffold & Access Industry Association
3.6.1.1.2. American National Standards Institute (ANSI)
3.6.1.1.2.1. ANSI/SAIA A92.2-2015
3.6.1.1.2.2. ANSI/SAIA A92.5-2006 (R2014)
3.6.1.2. Europe
3.6.1.2.1. EN280:2013
3.6.1.2.2. Provision and Use of Work Equipment Regulations (PUWER)
3.6.1.2.3. Russia
3.6.1.2.3.1. EurAsian Conformity Mark (EAC)
3.6.1.2.3.2. European Union Standards
3.6.1.2.3.3. Emission Controls Standards
3.6.1.3. Asia Pacific
3.6.1.3.1. NTPC
3.6.1.4. Latin America
3.6.1.4.1. NR12
3.6.1.5. MEA
3.6.1.5.1. Occupational Health & Safety Act, 1993
3.6.1.5.2. Driven machinery regulations, 2011
3.6.1.5.3. The South African Bureau of Standards (SABS)
3.6.1.5.4. ZABS (ZS 385)
3.6.1.5.5. OSH Regulations
3.6.1.5.6. GCC Standardization Organization - GSO 42:2015
3.7. Industry impact forces
3.7.1. Growth drivers
3.7.1.1. Rising investments in construction industry across the globe
3.7.1.2. Increasing demand for rental construction equipment in the U.S.
3.7.1.3. Growing urbanization in the U.S.
3.7.1.4. Proliferation of infrastructure and industrial projects in Russia
3.7.1.5. Increasing use of AWPs in China
3.7.1.6. Growing urbanization and worker safety concerns in India
3.7.1.7. Rapidly developing infrastructure industry in BRIC countries
3.7.1.8. Growing reconstruction and maintenance activities across Japan
3.7.2. Industry pitfalls & challenges
3.7.2.1. Optimizing fleet utilization
3.7.2.2. Lack of trained operators
3.7.2.3. Lack of awareness
3.7.2.4. Impact of COVID-19
3.8. Growth potential analysis
3.9. Porter's analysis
3.9.1. Supplier power
3.9.2. Buyer power
3.9.3. Threat of new entrants
3.9.4. Threat of substitutes
3.9.5. Internal rivalry
3.10. PESTEL analysis
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.