South Korea Aerial Work Platform (AWP) Rental Market Statistics 2019 – 2025 | Top Players: JLG Industries, Prince Lift, Skyjack, Terex Corporation

Global Market Insights has added a research study on South Korea Aerial Work Platform (AWP) Rental Market which offers a concise summary regarding market valuation, market share, regional spectrum, revenue estimation and SWOT analysis of this business vertical. The report further brings up key insights pertaining to growth opportunities and challenges to be experienced by key industry players, while emphasizing on their present competitive setting and growth plans for the South Korea Aerial Work Platform (AWP) Rental Industry.

In an effort to expand diplomacy with Central and South America, South Korea agreed to expand bilateral cooperation in the area of information and communication technology as well as infrastructure construction with Colombia. The agreement will enable South Korean companies to be a part of infrastructure development projects in Columbia. Such initiatives would present major business opportunities for AWP rental companies in South Korea. Besides international liaisons, the government is also investing in national infrastructural projects, which will further boost the South Korea AWP rental market growth over the forecast years.

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Government data unveiled that the construction arm POSCO had the maximum number of workplace fatalities among local builders last year. The ministry further claimed that 485 construction workers died on the job in 2018. Moreover, falls accounted for 60 percent of the total deaths in the construction industry last year. To counter this problem, construction companies use products like scissor lifts and vertical mast lifts which offer various advantages including enhanced safety features compared to traditional construction equipment. In light of the abovementioned statistics, it is certain that companies will invest heavily on worker safety in the coming times and will adopt rental services to keep workers aloof from hazardous operations, thereby propelling the South Korea AWP rental market growth.

South Korea AWP Rental Market, By Product

  • Boom lift,
  • Scissor lift
  • Vertical mast lift
  • Personal portable lift

South Korean AWP Rental Market, By Application

  • Construction
  • Telecommunication
  • Transportation & Logistics
  • Government

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It has been only a few months since the country began deploying necessary infrastructure for 5G wireless networks and it has already attracted over 260000 subscribers from three of the nation’s biggest telecom firms – Korea Telecom, SK Telecom, and LG U+. Despite the rapid adoption of 5G technology, the South Korea AWP rental market is surrounded by many challenges. For example, the South Korean Ministry of Information and Communication Technology claims the technology will require a significant number of base stations in order to be effective and deliver optimum coverage.

South Korea Aerial Work Platform Rental Market is slated to gain immense momentum over the ensuing years owing to a large number of ongoing and upcoming construction and infrastructural development projects. The government, as well as the private sector, are a part of the financing and operation of several infrastructure projects and services. By 2020, the South Korean government is slated to spend over $300 billion on projects like roads, airports, railways, and mega resorts.

The South Korea AWP rental market comprises several companies including:

  • Prince Lift
  • AJ Networks
  • YK Construction Equipment
  • Korea Rental Corporation

Rental operators continue to hope for increasing rental rates with the procurement of new machines as the utilization rate is increasing year-on-year. Companies are increasingly focusing on enhancing their fleet size

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