The Korean aerial work platform industry is estimated to account for USD 20.27 billion in 2025. It is anticipated to grow at a CAGR of 9.0% during the assessment period and reach a value of USD 47.98 billion by 2035. In 2024, the world AWP industry grew considerably, mainly due to the growth of the construction sector, particularly in developing economies.
Urbanization, infrastructure development projects, and maintenance and repair of existing buildings spurred the demand for safe and efficient aerial lifts. In particular, the scissor lifts segment dominated the industry position because of their small size, rapid loading operation, and large operational efficiency, which made them more suitable for vertical lifting and positioning of materials tasks.
Secondly, the internal combustion engine (ICE) segment also earned impressive revenue as the demand for diesel-engine lifts applicable for heavy outdoor use with elevated height and high load capacity picked up. Region-wise, North America dominated the market share due to the growing number of commercial and residential complexes and the expanding IT and telecommunication industries that require AWPs for high-altitude installations and servicing.
| Metrics | Values |
|---|---|
| Industry Size (2025E) | USD 20.27 billion |
| Industry Value (2035F) | USD 47.98 billion |
| Value-based CAGR (2025 to 2035) | 9.0% |
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In the future, the AWP industry will continue to grow. The continuing global focus on infrastructure growth, along with the strict safety regulations, will keep demand for AWPs buoyant. Technological innovations, including remote diagnostics and specialized attachments, are expected to improve the versatility and effectiveness of AWPs, thus drawing in a larger user population.
Further, the research into unpenetrated industries, such as installations of renewable energy, offers new opportunities for AWP use, leading to industry growth and diversification. The move towards predictive maintenance technologies is also poised to increase the efficiency of operations, with a minimum of downtime and equipment life extension. Together, these factors are likely to drive the strong growth path of the AWP industry in the future years.
Future Market Insights has conducted a detailed survey involving prominent stakeholders across the aerial work platform (AWP) industry, comprising manufacturers, suppliers, rental organizations, and end-users. According to the results, technology evolution has taken a central role in revolutionizing the industry, with more than 65% of participants mentioning the relevance of remote access solutions for diagnostic and maintenance applications.
Stakeholders were keenly interested in incorporating IoT-enabled monitoring systems to improve predictive maintenance and reduce operational downtime. Also, the growing use of electric and hybrid AWPs was observed, prompted by more stringent environmental regulations and a rising demand for sustainable equipment.
Another key finding of the survey was the trend toward specialized aerial platforms. More than 70% of those polled stressed the necessity for specialized attachments and modulating platforms built to handle precise jobs, e.g., renewable energy installation, high-altitude servicing, or space-restricted lifts in inner-city building construction.
Rental fleets saw demand spike for short-term leases, especially in burgeoning industries such as infrastructure maintenance and telecom, indicating the shift from flat-out purchases towards more adaptive models of usage. Stakeholders also identified safety and compliance with regulations as critical issues driving purchasing decisions.
More than 60% of industrial and construction customers highlighted the importance of sophisticated safety features, including load-sensing capability, real-time stability monitoring, and automated hazard detection. A number of respondents anticipated that future regulation would demand better operator training programs and greater compliance standards, validating the need for continued product innovation.
| 2020 to 2024 | 2025 to 2035 |
|---|---|
| Key Drivers: - Increased urbanization and government infrastructure projects. - Growth in facility management, telecom, and renewable energy sectors. - Rising rental industry demand as companies prefer leasing over ownership post-pandemic. - Adoption of remote monitoring and safety enhancements. | Emerging Drivers: - Expansion of autonomous aerial platforms. - Greater investments in battery-powered AWPs for emission control. - Adoption of modular AWPs for specialized industries. - New safety and regulatory mandates are driving innovation. |
| Regulatory Impact: Governments enforced stricter operator training and equipment safety standards. The EU mandated CE certification, the USA saw updated OSHA and ANSI standards, and Asian industries tightened safety requirements. | Future Regulatory Changes: Anticipated implementation of AI-based safety compliance monitoring, increased environmental regulations mandating zero-emission AWPs, and stricter training requirements worldwide. |
| Regional Growth: - North America & Europe led in sector share due to construction demand. - Asia-Pacific emerged as the fastest-growing industry, fueled by smart city projects in China and India. - South Korea and Japan advanced in high-tech AWPs. | Regional Projections: - Asia-Pacific will likely overtake other regions in growth, driven by rapid industrialization. - Middle East & Africa expected to see higher adoption due to major infrastructure investments. - North America & Europe will lead in sustainable AWP innovations. |
| Market Challenges: - High initial costs limit adoption in developing economies. - Supply chain disruptions affected production and deliveries. - Shortage of skilled labor hindered AWP operations. - Fluctuating raw material costs impacted pricing strategies. | Future Challenges: - Integration of AI and automation may raise costs initially. - Need for reliable battery technology for sustainable AWPs. - Cybersecurity concerns in connected AWPs. - Increasing competition from local and Chinese manufacturers. |
Based on product type, the segment is divided into boom lift, push-around, spider lift, scissor lift, and vertical mast lift. Boom lifts are the most widely rented aerial work platforms (AWP) in South Korea, mainly because of their versatility and capacity to reach high heights.
The lifts are widely used in construction and maintenance work that involves access to high-level work areas, thus making them a must-have for activities like building maintenance, electrical maintenance, and other high-level operations. The ability of boom lifts to traverse obstructions and offer long reach makes them more appropriate for various uses across a range of industries.
On the basis of end-use, the segment is further categorized into aerospace and defense, construction, manufacturing, mining, transportation and logistics, and others. In South Korea, AWPs are predominantly utilized in the construction industry, which has been a key growth driver for the industry.
The country's thriving construction and infrastructure development sectors have generated a significant demand for secure and efficient aerial work solutions to support diverse projects and maintenance operations. The growing emphasis on workplace safety and the implementation of new construction methods have also driven the utilization of AWPs in this industry. Although the manufacturing industry also uses AWPs, albeit more so for maintenance and facility management, their use is not as emphasized as in construction.
Based on fuel type, the segment is divided into electric, gas, or diesel, and hybrid. In South Korea, diesel-powered aerial work platforms (AWPs) have been the most common choice in many industries due to their strong performance and outdoor and heavy-duty suitability.
Diesel AWPs offer the power and strength needed to operate efficiently on uneven grounds and in challenging conditions common in construction and infrastructure projects. However, there is a growing trend towards electric AWPs driven by increased environmental consciousness and emission regulations. Electric models are particularly favored for indoor use due to their zero-emission nature and lower noise levels, addressing sustainability programs and improving working conditions.
On the basis of platform height, the category is split into 10 to 20M, 20 to 30M, more than 30M, and less than 10 M. In South Korea, aerial work platforms (AWPs) of a height ranging from 20 to 30 meters have been found to be extensively used in various industries. This is due to the fact that mid-range platforms are both convenient and flexible, finding a good balance between reach performance and operational efficiency.
These mid-range AWPs are particularly sought after by sectors such as building construction, maintenance, and infrastructural development, where operations often include accessing heights in this range. The height capacity of up to 30 meters allows these platforms to be versatile enough for use in a wide range of applications such as building maintenance, utility installation, and other activities that involve working at modest heights.
Depending on the sales channel, the industry is segmented into OEM and rental service providers. Rental services are more frequently used than direct purchasing from original equipment manufacturers (OEMs) in South Korea's aerial work platform (AWP) industry. This is because several factors are making renting a preferable and cost-effective option for the majority of firms.
Leasing AWPs gives companies the availability of many types of equipment without the high initial capital investment required in purchasing. This is particularly useful for companies that require AWPs for short-duration projects or seasonal operations, as it gives them the freedom to modify their equipment demands according to project requirements without the long-term expense of ownership.
The Korean AWP industry is a competitive, high-growth sector with market share equally divided between global industry leaders, regional producers, and local companies, all competing for their piece of the growing industry. JLG Industries, which is part of Oshkosh Corporation, is one of the leaders with a substantial portion of the industry in the order of 25-30%.
JLG's leadership is inspired by its range of diversified products from boom lifts to scissor lifts and telehandlers, as well as its image of reliability, innovation, and quality after-sales service. Its focus on hybrid and electric models also supports the trend in Korea towards taking up greener building practices, reinforcing its leadership role even further.
Terex Corporation in the Genie brand is another industry leader with a conjectured 20-25% sector share. The value of Genie comes in the package of its forward-thinking safety tech, lightweight compactness, and ease of use, making it highly compatible with Korea's high-density building works. Global popularity and an excellent distribution network of the brand have made it hold a superb presence in the Korean industry.
Haulotte Group, one of Europe's leading AWP firms, has a minor but significant share of 10-15%. Haulotte's competitive advantage is that it can provide budget-friendly and multi-technology solutions combined with good customer service and strategic local distributor partnerships. Its emphasis on tailoring and flexibility has allowed it to find acceptance in niche areas of the Korean industry.
On the domestic front, Hyundai Construction Equipment and Doosan Infracore are emerging as significant players, collectively accounting for approximately 15-20% of the industry. Hyundai’s emphasis on eco-friendly electric and hybrid AWPs has resonated well with Korea’s sustainability goals. At the same time, Doosan’s reputation for durable and high-performance machinery has earned it a loyal customer base.
Both companies benefit from their strong local presence, extensive service networks, and understanding of regional industry dynamics. The rest of the sector share is held by smaller global players and rental firms such as A-Plant and Sunbelt Rentals, which service the increasing demand for flexible, short-term equipment solutions. These rental-specialist firms are becoming increasingly popular among SMEs and contractors, which is leading to the fragmentation of the industry.
Overall, the Korean AWP industry is controlled by big international players such as JLG and Terex, who collectively hold almost half of the sector share due to their technological capability and widespread brand recognition. Haulotte and local competitors such as Hyundai and Doosan are gradually expanding their share by meeting specific regional requirements and trends toward sustainability.
South Korea's aerial work platform (AWP) industry belongs to the construction and heavy machinery equipment sector with close relationships to infrastructure development, manufacturing, and logistics. Macro factors like GDP growth, spending on construction, labor safety measures, and trends in industrial automation drive it.
Over the past few years, South Korea's economy has been driven by state-sponsored infrastructure development, city planning, and investment in smart construction technologies. Its 2024 GDP growth projection holds firm at approximately 2.4%, driven by strong exports and domestic investment. With the country focusing on urban renewal and industrial expansion, the demand for AWPs is likely to rise.
On the other hand, South Korea's drive toward carbon neutrality and sustainability by 2050 has inspired a switch away from diesel-guzzling AWPs toward hybrid and electric vehicles. The companies are further propelled by stringent pollution control rules as well as road safety laws to invest in better AWPs, incorporating automated security tools and forecasting repair technology.
The rental industry dominates this sector, which is consistent with a wider global trend in which firms opt to lease equipment rather than own it outright in order to minimize operational expenses and maintain flexibility. This, combined with increasing public and private construction activity, will drive sector growth in the next decade.
Expansion into Renewable Energy Projects
South Korea is ramping up wind and solar power infrastructure to achieve its 2050 carbon neutrality target. AWPs are used for the installation and maintenance of wind turbines and solar panels and hence form a high-growth niche for original equipment manufacturers and rental service providers. Firms need to aim to collaborate with renewable energy companies to provide specialized AWPs for such uses.
South Korea's urban development schemes (like Seoul Smart City) offer scope for AWPs in high-rise building maintenance and infrastructural repairs. Small electric AWPs for indoor and narrow urban environments will witness increasing demand. Stakeholders must create battery-powered, low-emission AWPs to meet government sustainability objectives.
Rental firms can differentiate themselves by providing AWPs with IoT-enabled remote monitoring and predictive maintenance capabilities. Integrating telematics and AI-based diagnostics will lower downtime and maintenance expenses, and rental products will become more appealing to customers.
The Korean military and defense sector needs AWPs for aircraft maintenance, base construction, and logistics operations. Businesses should work together with the Ministry of National Defense to develop tough, high-load AWPs that are appropriate for military use.
Expanding construction, renewable energy, logistics, and manufacturing, along with more stringent workplace safety mandates, are spurring demand.
The largest user is construction, followed by logistics, aerospace & defense, and renewable energy industries.
Leasing lessens initial costs, maintenance, and storage issues, making it flexible and inexpensive.
IoT monitoring, predictive maintenance, energy-efficient batteries, and autonomous driving are driving performance and safety.
Regulatory strict safety legislation, emissions regulations, and certification are persuading businesses towards electric and green solutions.
With respect to product type, the segment is classified into boom lift, push around, spider lift, scissor lift, and vertical mast lift.
In terms of end-use, the segment is divided into aerospace and defense, construction, manufacturing, mining, transportation and logistics, and others.
In terms of fuel type, the segment is divided into electric, gas or diesel, and hybrid.
In terms of platform height, the segment is divided into 10 to 20M, 20 to 30M, Above 30M, and Below 10M.
In terms of sales channels, the segment is divided into OEM and rental service providers.
In terms of province, the industry is segmented into South Gyeongsang, North Jeolla, South Jeolla, Jeju, and Rest of Korea.
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Korea Aerial Work Platform Market
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