South Korea Aerial Work Platform (AWP) Rental Market to garner remarkable proceeds over 2019-2025

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South Korea Aerial Work Platform (AWP) Rental
Market - Future Growth and Forecast during 2019-
2025
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• South Korea Aerial Work Platform (AWP) Rental
  Market Scenario

• The increasing government investments for
  infrastructure refurbishment, growth in the
  construction sector, and the rapid urbanization
  industrialization will propel the South Korea AWP
  rental market. Urbanization has increased the
  pressure of building high-rise structures that
  can hold a great number of people in a smaller
  space, supporting the AWP rental market growth in
  South Korea. Several other infrastructure
  facilities, such as ports, airports, rail
  networks, and official facilities, are gaining
  investments in South Korea, which will add up to
  the demand for various machines.
• The vertical mast lifts segment in the South
  Korea AWP rental market, is set to grow at a
  rapid rate owing to various advantages offered in
  construction works. Vertical mast lifts are
  mostly battery-powered, enabling a clean working
  of machines. Enhanced maneuverability and ease of
  operations are the two major factors driving the
  vertical mast lifts market growth.
• The spacious platform enables the lifting of a
  person along with the required equipment. The
  lightweight compact structure of vertical mast
  lifts makes them a feasible option for
  applications such as indoor lighting work,
  installation works, and electrical mechanical
  works.

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• The increasing demand for electric-based and
  low-emission equipment in the country due to high
  user awareness is compelling companies to enhance
  their rental fleet. Machinery providers in the
  South Korea AWP rental market are deploying
  vertical mast lifts in huge numbers to address
  the growing industry demand. For instance, in
  December 2017, AJ Networks acquired 396 vertical
  mast lifts from Haulotte Group to support the
  rising demand from domestic customers, which are
  used in various construction maintenance
  projects in Samsung, SK Hynix, etc.
• The sturdy structure of AWPs and the availability
  of a variety of designs make them a convenient
  option as compared to other conventional machines
  human labor. The increasing penetration of
  telecom companies and their efforts to expand the
  network will further boost the demand for AWPs.

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• Regional Analysis

• In the South Korea AWP rental market, the demand
  for AWPs from the telecommunication industry was
  valued at over USD 6 million and is expected to
  rise in the coming years. Various government
  initiatives are refurbishing the current telecom
  infrastructure and building sophisticated telecom
  network using advanced technologies to boost the
  demand for AWPs.

• Competitive Analysis

• The companies in the South Korea AWP rental
  market are AJ Networks Korea Rental Corporation,
  Prince Lift, YK Construction Equipment, etc.
  Other companies that operate in the region are
  manufacturers that provide a variety of lifts
  such as scissor, boom, and personal portable
  machines. These manufacturers include JLG,
  Skyjack, Genie, etc., which gain orders in huge
  quantities from rental providers.

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