Lithium Battery Aerial Work Platforms Market Size Analysis and Forecasts

Thursday,16 May,2024

According to a recent report by Market Data Forecast, the global lithium battery aerial work platforms market size is expected to grow at a CAGR of more than 8% from 2022-2027. Key drivers include tightening emission standards, encouraging adoption of electric vehicles, increasing construction activities, and focus on workplace safety. Manufacturers are actively developing new lithium models and upgrading their existing fleets to capitalize on this growing market opportunity.

Analyzed by product type, scissor lift aerial work platforms dominate the market with more than 60% share in 2021. Their compact design and maneuverability make them suitable for various indoor and outdoor applications. Boom type aerial work platforms are gaining popularity due to their ability to reach higher heights and expand their reach. Other aerial work platform types, including personnel portable lifts and vertical mast lifts, are also available with lithium battery options.

In terms of power output, elevators with capacities up to 5kW took the largest share of revenue last year, at around 45%. They are suitable for light to medium duty use and can be easily managed by one person. Higher capacity models in the 5-10kW range are growing the fastest, as they can handle heavier payloads and tough working conditions. Ultra-high 10-20kW models are available for special heavy lifting needs.

Some of the key end-use industries driving the adoption of lithium battery aerial work platforms include construction, shipbuilding, general manufacturing, aerospace and utilities. With the support of global infrastructure development projects, construction will be the largest application area by 2021, accounting for more than 30% of the market. Maintenance activities across various verticals are also contributing to the demand.

In terms of region, Asia Pacific currently dominates the market with a share of over 35%, led by China, Japan, and South Korea. North America holds the second largest share of the market with major users in the U.S. and Canada. Strong construction activities and supportive government policies are driving growth in these developed markets. Europe is another key region benefiting from initiatives to drive electrification of commercial vehicles.

Leading global manufacturers offering lithium-ion aerial work platforms include JLG, Genie, Niftylift, Haulotte, Skyjack, Snorkel, Teupen, Linamar, and Terex. companies are investing in expanding their product lines, customizing their solutions, delivering performance improvements, and strengthening their distribution networks. Strategic partnerships across the value chain are helping to enhance market position and explore new opportunities.

Lithium battery aerial work platforms offer advantages over diesel and natural gas versions and are expected to meet strong long-term demand, driven by infrastructure growth, emission standards, and workplace safety needs.
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