Title: South Korea Aerial Work Platform (AWP) Rental Market to garner remarkable proceeds over 2019-2025
1South Korea Aerial Work Platform (AWP) Rental
Market - Future Growth and Forecast during 2019-
2025
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2- 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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3Continue-
- 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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5- 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.
- 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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