Dublin, Sept. 11, 2024 (GLOBE NEWSWIRE) -- The "United States MEWP Rental Market (2024 Edition): Market Size, Trends, Opportunities and Forecast by MEWP Type ((Boom Lifts, Scissor Lifts and Vertical Mast Lift), Propulsion, End-Use Industry: 2020-2030" report has been added to ResearchAndMarkets.com's offering.
United States MEWP Rental Market valued at USD 14.77 Billion in 2023 is expected to grow at a CAGR of 10.21% during 2025-2030.
United States Mobile Elevating Work Platform (MEWP) rental market has experienced significant growth over the past decade, driven by increasing demand from a broad range of industries including construction, telecommunications, and facilities management. This growth is Vertical Mast Lift ly attributed to the cost-effectiveness, flexibility, and efficiency that rental solutions offer over purchasing equipment outright. In this market overview, we will delve into various aspects of the MEWP rental market, such as market dynamics, technological innovations, regulatory impacts, and future growth prospects.
The MEWP rental market is primarily influenced by the construction industry, which utilizes these platforms for various applications including building maintenance, window cleaning, electrical and plumbing works, and other elevated tasks. As urbanization increases and cities continue to expand vertically, the demand for MEWPs in construction activities has surged. Additionally, the shift towards preventive maintenance of infrastructure and facilities has further propelled the market. This is especially prevalent in sectors like telecommunications and utilities, where regular upkeep of assets is crucial for operational stability.
Additionally, United States MEWP Rental Market dynamics are increasingly influenced by technological advancements. The adoption of technologies such as artificial intelligence (AI), the Internet of Things (IoT), and big data analytics in the construction and management of United States MEWP has enhanced efficiency, safety, and profitability.
These technologies enable better asset management and predictive maintenance, leading to longer building lifespans and reduced operational costs. Additionally, the rise of smart homes and buildings, equipped with automated systems for lighting, heating, and security, are becoming increasingly popular among tech-savvy consumers, thereby pushing the United States MEWP developers to integrate these technologies into new projects.
The ongoing development in technology and the potential for new applications, such as in renewable energy projects (e.g., wind and solar installations), are likely to expand the market scope. Additionally, the trend towards customization and flexible rental agreements could attract more users who require specialized solutions for unique project needs.
Electric and hybrid MEWPs are gaining traction, driven by the increasing emphasis on sustainability and emission regulations. These eco-friendly models are particularly suited for indoor use and urban environments, where noise and pollution regulations are stricter. Moreover, advancements in battery technology have improved the performance of electric MEWPs, making them more competitive with traditional diesel-powered models.
Municipal and Industrial and remote operation technologies are emerging trends that could redefine the MEWP landscape. These innovations enhance safety by allowing operation in hazardous environments without physical presence, thereby reducing the risk of accidents. Furthermore, they contribute to efficiency by enabling operators to manage multiple machines simultaneously or perform operations remotely.
Segment Insights
By MEWP, Boom Lifts account for more than 40% market share in 2023. Boom lifts play a crucial role in the US rental market due to their versatility and ability to extend to great heights, making them essential for various construction and maintenance activities that require elevated access. In the construction industry, these lifts are vital for several high-reach tasks including erecting structures, installing facades, and painting exteriors, where their maneuverability and reach are indispensable. Additionally, in facilities management, boom lifts are frequently used for maintaining HVAC systems, conducting roof inspections, and cleaning the exteriors of commercial buildings, further underscoring their importance across multiple sectors.
By Propulsion, Electric Powered is expected to account for the highest share in the upcoming years. Electric-powered MEWPs are increasingly favored in the US for indoor uses, providing emission-free and low-noise operation that is ideal for maintenance in facilities, retail settings, and indoor construction tasks. In settings like hospitals, schools, and corporate campuses where environmental sensitivity is paramount, these electric MEWPs are the preferred choice due to their ability to operate quietly and with minimal environmental impact, thereby reducing noise pollution and lowering carbon emissions.
Geographical Insights
Southern United States represents the Vertical Mast Lift market, by region in the United States MEWP Rental Market accounting for more than 35% share in 2023. The market for Mobile Elevating Work Platforms in the Southern part of the USA is growing. This region has dynamic economic activities, and hosts one of the biggest industrial and construction sectors in the region. The sprawling urban development, significant infrastructural projects, and a thriving industrial sector in this region offer ripe grounds for MEWPs to be used across a variety of applications.
Key Companies
- United Rentals
- Sunbelt Rentals
- Herc Rentals
- Ahern Rentals
- H&E Equipment Services
- BlueLine Rental
- NES Rentals
- Maxim Crane Works
- BigRentz
- All Erection & Crane Rental Corp
Market Segmentation
By MEWP Type:
- Boom Lifts
- Scissor Lifts
- Vertical Mast Lift
By Propulsion:
- Engine-Powered
- Electric
- Hybrid
By End-Use Industry:
- Municipal and Industrial
- Construction & Mining
- Transportation and Logistics
- Manufacturing
- Other End-Use Industries
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