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Research Nester recently published a report titled “UAE Aerial Work Platform Market Outlook: Industry Analysis & Opportunity Evaluation 2018-2027” which delivers detailed overview of the UAE Aerial Work Platform market in terms of market segmentation by product, power source, platform height, application and by countries.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Technological advancements in AWPs with the use of hybrid technology results in making the equipment more productive, efficient, and profitable. The release of E450 was followed by the release of M450A series, marked the progress of these hybrid product series.
The UAE aerial work platform market is significantly driven by the construction industry of the countries in UAE. As the demand for aerial work platform increases owing to application, the size of the UAE aerial work platform market holds a market revenue of USD 285.34 million in 2018. Several key factors such as expansion of construction activities in the UAE can be attributed to the higher market demand due to demographic changes, supportive measures by the government and moderate increase in oil prices are anticipated to significantly drive the market. It is estimated to expand robustly at a CAGR of 3.46% over the forecast period, i.e., 2020-2027.
On the basis of geography, the UAE Aerial Work Platform market is segmented into Dubai, Abu Dhabi & Al Ain and Sharjah & Northern Emirates. The aerial work platform market in Dubai was estimated to hold highest market share (44.13%) in 2018, which can be attributed to the increasing number of construction projects owing the Construction EXPO to be held in 2020.
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Several factors such rental aerial work platforms are demanded highly on the back of the Middle East oil and gas industry along with the increase in the ongoing and upcoming infrastructure and construction projects. Factors such as lower administrative outflows and reduced maintenance associated with the renting of the equipment are expected to propel the growth of the rental aerial work platform market. Furthermore, the government strategies on the construction sector for affordable houses, is estimated to drive the market growth of aerial work platforms in the residential construction sector.
The UAE aerial work platform market has been segmented by product into boom lifts, scissor lifts, vertical mast lifts and personal portable lifts. Among these boom lifts segment is estimated to hold leading market share in 2018, attributed to easy work experience and high application in construction as compared to others. On the basis of power source, the market is segmented into diesel powered, electric and others. Out of which, the diesel powered segment holds the major share on the back of its cost effective factor. The platform height is segmented into less than 10.9 m, 11.0 to 20.9 meters, 21-30.9 meters and above 30.9 meters, among which 21-30.9 meters is anticipated to hold the major share in the market owing to its high altitude reach where constructional works are also performed. The application sector is segmented into rental and non-rental, where rental aerial work platforms are expected to hold a high share on the account of reduced maintenance and lower administrative expenses.
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The growth of the market may be impeded by a few limitations such as the lack of skilled technical expertise and operators along with high maintenance fees and repair costs associated with aerial work platforms, might hamper the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the UAE aerial work platform market which includes company profiling of Haulotte Group, Terex Corporation, Oshkosh Corporation, Manlift, LOXAM, Safelift, Al Walid Equipment Rental , Quality Equipment Rental, Access Rental Gulf LLC, Ascend Scaffolding and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the UAE aerial work platform market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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