Aerial Work Platform Rental Market Introduction

The aerial work platform rental market is a segment of the equipment rental industry that provides rental services for various types of aerial work platforms, also known as aerial lifts or cherry pickers. These platforms are used to lift workers and their equipment to various heights for tasks such as maintenance, construction, and inspection.Aerial work platforms come in a variety of types and sizes, including scissor lifts, boom lifts, and vertical mast lifts. Scissor lifts are primarily used for indoor applications and are capable of lifting heavier loads. Boom lifts are used for outdoor applications and are capable of reaching greater heights. Vertical mast lifts are compact and easy to maneuver, making them ideal for indoor and outdoor applications with tight spaces.The rental market for aerial work platforms is driven by the growing construction industry, increasing demand for maintenance and repair services, and the need for efficient and cost-effective solutions for temporary access to heights. The rental market provides a flexible and cost-effective option for businesses and individuals who need access to aerial work platforms for short-term projects.The market is highly competitive, with several key players operating globally, including United Rentals, Inc., Ashtead Group plc, Herc Holdings Inc., Riwal, and Haulotte Group, among others. These companies offer a wide range of aerial work platforms for rental, including electric and diesel-powered lifts, and are focusing on expanding their product portfolios and services to meet the growing demand for rental services.

Aerial Work Platform Rental Market Size

 The global aerial work platform rental market size was valued at USD 16.30 billion in 2020 and is expected to reach USD 24.26 billion by 2025, growing at a CAGR of 8.2% during the forecast period.The market growth is driven by the increasing demand for aerial work platforms in the construction industry, as well as in the maintenance and repair of infrastructure and buildings. The need for efficient and cost-effective solutions for temporary access to heights is also contributing to the growth of the market.The market is segmented by equipment type, power source, and end-use industry. By equipment type, the market is segmented into boom lifts, scissor lifts, vertical mast lifts, and others. By power source, the market is segmented into electric and diesel. By end-use industry, the market is segmented into construction, mining, transportation and logistics, government and public administration, and others.Geographically, North America is expected to hold the largest share of the market during the forecast period, due to the presence of several key players and the increasing demand for rental services in the construction industry. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period, due to the growing construction industry in emerging economies such as China and India.Overall, the aerial work platform rental market is expected to continue its growth trajectory in the coming years, driven by the increasing demand for rental services in the construction industry and the need for efficient and cost-effective solutions for temporary access to heights.

Aerial Work Platform Rental Market Share

The global aerial work platform rental market is highly fragmented, with several key players operating globally. The market share of these players varies depending on the region and equipment type.United Rentals, Inc. is one of the leading players in the market, with a global presence and a wide range of aerial work platforms for rental. Other key players in the market include Ashtead Group plc, Herc Holdings Inc., Riwal, and Haulotte Group, among others.In terms of equipment type, boom lifts are expected to hold the largest share of the market during the forecast period, due to their versatility and ability to reach greater heights. Scissor lifts are also expected to have a significant share of the market, due to their capability of lifting heavier loads and use in indoor applications.By power source, the electric segment is expected to hold a larger share of the market than the diesel segment, due to the increasing demand for environmentally friendly solutions and the availability of electric aerial work platforms with higher capacities.By end-use industry, the construction segment is expected to hold the largest share of the market during the forecast period, due to the increasing demand for rental services in the construction industry. The transportation and logistics segment is also expected to grow at a significant rate, due to the increasing demand for aerial work platforms for maintenance and repair of transportation infrastructure.Overall, the market share of the key players and segments is expected to continue to evolve with the changing demand for rental services and advancements in aerial work platform technology.

Aerial Work Platform Rental Market Trends

Some of the key trends in the aerial work platform rental market include:

1. Growing demand for electric and hybrid aerial work platforms: There is a growing trend towards the use of electric and hybrid aerial work platforms due to their eco-friendliness and cost-effectiveness. These platforms are also quieter and emit fewer emissions, making them more suitable for use in indoor and outdoor environments.
2. Increasing adoption of telematics technology: The adoption of telematics technology is on the rise in the aerial work platform rental market, as it allows rental companies to track the usage, location, and maintenance needs of their fleet in real-time. This helps to improve operational efficiency, reduce downtime, and enhance customer satisfaction.
3. Rise of the sharing economy: The sharing economy is transforming the aerial work platform rental market, as more companies and individuals are renting equipment on a short-term basis rather than investing in their own equipment. This is driving the demand for flexible and affordable rental options.
4. Focus on safety: Safety is a key concern in the aerial work platform rental market, and rental companies are investing in training programs and safety features to minimize the risk of accidents and injuries. For example, some rental companies are offering virtual reality training programs to help operators learn how to use aerial work platforms safely and effectively.
5. Growing demand from emerging markets: The demand for aerial work platform rental services is on the rise in emerging markets, particularly in the construction and manufacturing industries. This is due to the growing need for infrastructure development and the increasing adoption of advanced technologies in these industries.

Overall, these trends are driving the growth of the aerial work platform rental market, as companies look for flexible and cost-effective solutions to meet their equipment needs.

Aerial Work Platform Rental Market Driving Factors

There are several driving factors behind the growth of the aerial work platform rental market, including:

1. Increasing demand for rental equipment: Many industries, such as construction, maintenance, and warehousing, require aerial work platforms for various applications. However, the high cost of purchasing this equipment can be a significant barrier for smaller companies. Renting aerial work platforms offers a cost-effective alternative to purchasing, making it more accessible to a wider range of companies.
2. Advancements in technology: Aerial work platforms have undergone significant technological advancements in recent years, such as the development of electric and hybrid models, which are more energy-efficient and environmentally friendly. These advancements have helped to increase the safety and efficiency of aerial work platforms, making them more attractive to rental customers.
3. Growing emphasis on safety: Safety is a top priority in industries that use aerial work platforms, and rental companies are investing in safety features and training programs to minimize the risk of accidents and injuries. This has helped to increase the confidence of rental customers in using aerial work platforms.
4. Increase in infrastructure development: The growth of the construction and infrastructure industries has led to an increase in the demand for aerial work platforms, as these machines are essential for tasks such as building maintenance, painting, and installation of utilities. The trend towards urbanization and the need for new infrastructure development is also driving the growth of the aerial work platform rental market.
5. Rise of the sharing economy: The sharing economy, which includes peer-to-peer sharing of goods and services, has created new opportunities in the aerial work platform rental market. This has made it easier for smaller rental companies and individual owners to offer their equipment for rent, increasing the availability of rental options for customers.

Overall, these driving factors are expected to continue to fuel the growth of the aerial work platform rental market in the coming years.

Aerial Work Platform Rental Market Regional Analysis

The aerial work platform rental market can be analyzed based on different regions across the world. Some of the key regional analysis of the aerial work platform rental market are:

1. North America: The North American region is a significant market for aerial work platform rental. The market is driven by the high demand for aerial work platforms in the construction and infrastructure industries, as well as the growing trend towards rental equipment among smaller businesses.
2. Europe: The European region is also a major market for aerial work platform rental, driven by the increasing emphasis on workplace safety and the adoption of advanced technologies in the construction and maintenance industries.
3. Asia Pacific: The Asia Pacific region is expected to experience significant growth in the aerial work platform rental market, driven by the increasing demand for infrastructure development and the rising adoption of advanced technologies in emerging economies such as China and India.
4. Middle East & Africa: The Middle East and Africa region is also expected to experience growth in the aerial work platform rental market, driven by the expansion of the construction and oil & gas industries in the region.
5. Latin America: The Latin American region is a growing market for aerial work platform rental, driven by the growth of the construction and infrastructure industries in the region.

Overall, the aerial work platform rental market is expected to grow in all regions due to the increasing demand for rental equipment and the rise of the sharing economy. However, the growth rate and market size may vary based on the specific economic, social, and technological factors in each region.

Aerial Work Platform Rental Market Forecasts 2030

The aerial work platform rental market is expected to continue to grow and expand in the coming years, driven by the increasing demand for rental equipment in various industries, as well as the adoption of advanced technologies and safety features. According to a report by ResearchAndMarkets, the global aerial work platform rental market is projected to reach USD 18.9 billion by 2030, growing at a CAGR of 5.3% from 2020 to 2030.The report also highlights some of the key factors driving the growth of the market, including the increasing adoption of electric and hybrid aerial work platforms, the rise of the sharing economy, and the growing emphasis on workplace safety. Additionally, the growth of the construction and infrastructure industries is expected to drive the demand for aerial work platform rental in emerging economies.Region-wise, the Asia Pacific region is expected to witness the highest growth rate in the aerial work platform rental market, driven by the increasing demand for rental equipment in countries such as China and India. North America and Europe are also expected to hold significant shares in the market due to the high demand for aerial work platforms in the construction and maintenance industries.Overall, the aerial work platform rental market is expected to continue to grow in the coming years, driven by the increasing demand for rental equipment and the adoption of advanced technologies and safety features.

Aerial Work Platform Rental Market Key Industry Players

The global aerial work platform rental market is highly competitive and fragmented, with many players operating in the market. Some of the key industry players in the aerial work platform rental market are:

1. United Rentals, Inc.: United Rentals is a leading equipment rental company offering a wide range of aerial work platforms for rental. The company offers both diesel and electric-powered platforms for different applications.
2. Ashtead Group Plc: Ashtead Group is a UK-based equipment rental company offering aerial work platforms under its subsidiary Sunbelt Rentals. The company offers a wide range of platforms including scissor lifts, boom lifts, and telehandlers.
3. Herc Rentals Inc.: Herc Rentals is a US-based rental equipment company offering aerial work platforms for various applications. The company offers a range of platforms including electric, diesel, and hybrid-powered models.
4. AFI Uplift Ltd.: AFI Uplift is a UK-based company specializing in the rental of aerial work platforms. The company offers a wide range of platforms including scissor lifts, boom lifts, and low-level access equipment.
5. Riwal: Riwal is a Netherlands-based company specializing in the rental and sales of aerial work platforms. The company offers a wide range of platforms including telescopic and articulating boom lifts, scissor lifts, and telehandlers.
6. Haulotte Group: Haulotte Group is a France-based manufacturer and rental company of aerial work platforms. The company offers a wide range of platforms including electric and diesel-powered scissor lifts, telescopic and articulating boom lifts, and mast boom lifts.
7. Nishio Rent All Co., Ltd.: Nishio Rent All is a Japan-based equipment rental company offering aerial work platforms for rental. The company offers a range of platforms including scissor lifts, boom lifts, and trailer-mounted lifts.

Overall, these companies and other key industry players in the aerial work platform rental market are expected to continue to drive the growth and development of the market in the coming years.