Top 10 Forklift Manufacturers of 2018
May 10, 2019

2019 Aerial Platform Rental Fleets Rise; More Growth Forecast

MEWP rental revenue in the United States has also grown steadily since 2010 after posting a 24 percent loss in 2009 during the Great Recession, when revenues sank to $6 billion. Rental revenues rose 5 percent in 2017 over 2016, to $9.4 billion. The report predicts two more years of 5 percent revenue growth, reaching $10.3 billion in 2019.

After that, the market outlook becomes murky. That’s because three-quarters of rental applications for MEWPs are coming from the construction sector. “Though activity is currently very fast-growing,” the report says of construction conditions, “the overall construction sector outlooks become more uncertain from 2019 onwards.”

The report says rental companies will take a cautious attitude toward their fleets, expanding them only to meet existing demand yet still able to raise rates, “but many intend to begin reducing their investment levels from 2019.”

Of the 651,000 MEWPs in North American rental fleets, 378,000 are scissor lifts. After that come straight booms at 137,800 and articulated booms at 117,400. The remaining 17,800 MEWPs consist of vertical lifts, vertical masts and vehicle-mounted booms. Excluded from the numbers are low-level access equipment under 10 feet high, telescopic handlers, forklifts, cranes and mast-climbing work platforms.

The U.S. MEWP rental market is the largest in the world, making up 43 percent of the total world rental fleet. Next is Europe, at 27 percent; Asia-Pacific, at 21 percent; Canada, at 5 percent; and Latin America, including Mexico, at 4 percent.