The mobile elevated work platform (MEWP) rental market is set to reach US$24 billion (€19.5 billion) by 2024, driven by commercial and residential construction projects.
The forecast, revealed by Global Market Insights, will also be influenced by the rise in investments in public infrastructure worldwide, the company said.
It said that government administration in several emerging economies had renewed their focus on the development of urban infrastructure projects, such as airport developments and smart cities. Growing safety concerns in workplaces will also increase demand for MEWPs.
The dominant market for MEWPs will be North America, said Global Market Insights, as a result of repair and maintenance of existing structures, as well as the rapid development of the construction industry.
The key reports on the MEWP market are published by the International Powered Access Federation (IPAF), whose 2018 reports for Europe and North America will be published very soon and will be featured in Access International magazine.