Aerial Work Platform Rental Market by Revenue Outlook, Segmentation and Key Trends to 2026

Increasing efforts by European governments towards smart city initiatives to drive aerial work platform rental market demand. Growing industrial and infrastructural projects across numerous European nations, including France, Germany, and Russia are providing stimulus for the regional market growth. The platforms are growingly utilized at malls, offices, and schools to perform various maintenance & repair activities.

As per a research report, aerial work platform rental market is estimated to surpass $25 billion by 2026.   

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Rising number of industrial & construction activities across world are likely to boost aerial work platform rental market growth over the forthcoming timeframe. Governments across Europe and the Asia Pacific are making significant investments towards the development of innovative smart cities, which is fueling the demand for advanced construction equipment.

The rapidly expanding telecommunication sector across the world is also creating substantial market demand for AWPs. Telecom contractors utilize aerial work platforms for the installation and maintenance of power cables, poles, and transformers.

With tightening work safety regulations, owing to a plethora of worker safety organizations like OSHA, the demand for effective training for workers is witnessing a tremendous rise. The aerial work platform rental market is not exception to this shift. Certain standards are also to be maintained for safe and efficient operation of aerial work platforms.

Boom lifts are more often used for installation as well as maintenance of streetlights, indoor & outdoor cleaning of roofs, and several other industrial applications, thereby contributing to the aerial work platform rental market development. Furthermore, the availability of boom lifts in an assortment of working heights is also complimenting market development.

Lift rentals are a way to get access to aerial lifts without having the need to pay high costs for buying and maintaining these equipment. Rented AWPs are best for projects which generally come up only once or twice annually. Rental companies also offer several benefits for renting aerial work platforms such as fast field service, expertly maintained lifts, and convenient location. All such factors will improve the business scope for aerial work platform rental market in coming years.

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Additionally, the temporary closure of several manufacturing and distribution facilities of various companies, under the lockdown, has further led to a worldwide economic slowdown. This is expected to affect the demand for aerial work platforms, adversely impacting the overall market growth.

In terms of product, the boom lifts are observing growth owing to the growing demand from mining, maintenance, and construction applications. These platforms provide high platform heights as well as an improved working radius, which is supporting adoption of the equipment for several maintenance and installation operations.

In fact, the Indian government is planning to invest around $30 billion across about 89 of its cities under its ambitious smart city initiative. Such activities are subsequently expected to increase the demand for access equipment over the projected time period. In addition, the rising demand for advanced lifting equipment for improving worker safety is also driving the aerial work platform rental market.

Additionally, the availability of AWPs that are electrically insulated is further likely to support product adoption in places where the risk of electrocution exists. Several rental companies are providing insulated access platforms in order improve operator safety at work locations. Companies are also offering safety training to decrease the chances of fatalities and injuries.

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Citing an instance, Genie, one of the leading manufacturers of aerial lift equipment, offers with Genie® Lift Pro™ an online AWP training program for instructors, providing service training for technical personnel, and thorough product training for salespeople.

The overall aerial work platform rental market is expected to witness a slow growth owing to the COVID-19 pandemic in 2020. Government authorities of numerous countries have imposed strict lockdowns, which is severely restricting business growth and consumer movement.

For instance, ANSI A92 has very strict standards for their use as well as operation. One of the requirements states that the users are given proper training in platform safety and machine specific function. To that end, several industry players are coming up their own innovative training programs to consolidate their standing in the aerial work platform rental market landscape.

Riwal, Aktio Corporation, Herc Holdings Inc., Ashtead Group, Sunstate Equipment Company, Nesco Rentals, United Rentals, Kilotou, AFI Uplift Ltd., Haulotte Group, Loxam, and Blueline Rentals among others, are some of the key players operating in the aerial work platform rental market.

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