IMARC Group’s report titled “Boom Lifts Market Report by Engine Type (Electric, Engine Powered), Product Type (Trailer Mounted Booms, Vehicle Mounted Booms, Crawler/Spider Booms), End Use (Rental, Construction and Building, Mining, Transportation and Logistics, Landscaping and Orchard Work, and Others), and Region 2024-2032“, The global boom lifts market size reached US$ 11.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 18.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5.4% during 2024-2032.
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Factors Affecting the Growth of the Boom Lifts Industry:
- Infrastructure Development:
Infrastructure development projects often involve the construction of high-rise buildings, such as skyscrapers, residential towers, and commercial complexes. Boom lifts are essential equipment for working at heights during the construction, maintenance, and renovation of these structures. Infrastructure projects frequently include the construction and maintenance of bridges, highways, and overpasses. Boom lifts are indispensable for tasks like bridge inspection, painting, and repair work, where workers need to access elevated areas safely and efficiently.
- Technological Advancements:
Modern boom lifts are equipped with advanced safety features, such as tilt sensors, load sensors, and automatic stability controls. These features help prevent accidents and ensure operator and worker safety while working at heights. Technological advancements are leading to the development of boom lifts with enhanced maneuverability, including features like four-wheel steering, oscillating axles, and compact designs. This allows operators to navigate through tight spaces and work in confined areas more efficiently.
- Increasing Focus on Efficiency:
Boom lifts enable workers to access elevated areas quickly and safely, allowing them to complete tasks more efficiently compared to traditional methods, such as scaffolding or ladders. This speedier completion of work contributes to overall project efficiency and timelines. Boom lifts minimize downtime by providing stable platforms for workers to perform tasks at height without the need for extensive setup or dismantling. This efficiency gains significance in industries where downtime results in lost revenue like construction, manufacturing, and maintenance.
Leading Companies Operating in the Global Boom Lifts Industry:
- Dexterlifts Oy
- Dinolift Oy
- Galmon (S) Pte Ltd
- Haulotte Group SA
- JLG Industries, Inc. (Oshkosh Corporation)
- Leguan Lifts Oy (Avant Tecno Group)
- Niftylift (UK) Limited
- Skyjack Inc (Linamar Corporation)
- Teupen Maschinenbau GmbH
- Xuzhou Construction Machinery Group Co., Ltd.
- Zoomlion Heavy Industry Science&Technology Co., Ltd.
Boom Lifts Market Report Segmentation:
By Engine Type:
- Electric
- Engine-powered
On the basis of the engine type, the market has been bifurcated into electric and engine-powered.
By Product Type:
- Trailer Mounted Booms
- Vehicle Mounted Booms
- Crawler/Spider Booms
Vehicle mounted booms represent the largest segment as they offer high mobility, versatility, and reach, making them suitable for a wide range of applications in industries, such as construction, utilities, and telecommunications.
By End Use:
- Rental
- Construction and Building
- Mining
- Transportation and Logistics
- Landscaping and Orchard Work
- Others
Rental accounts for the majority of the market share due to its flexibility, cost-effectiveness, and access to a variety of boom lift models without the need for large capital investments, appealing to businesses with fluctuating demand and budget constraints.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America enjoys the leading position in the boom lifts market owing to robust construction and infrastructure development activities, stringent safety regulations mandating the use of aerial work platforms, and a mature rental market supported by a strong network of equipment rental companies.
Global Boom Lifts Market Trends:
The escalating propensity to lease equipment as opposed to outright acquisition is igniting a surge in the demand for boom lift rental services. This shift affords enterprises unparalleled flexibility, fiscal prudence, and access to an extensive array of machinery models without the constraints of long-term engagements. Boom lifts, traditionally associated with construction, are increasingly finding utility in sectors such as entertainment, event coordination, agriculture, and warehousing, where they facilitate tasks including illumination setup, arboreal maintenance, inventory oversight, and infrastructure upkeep.
The imperative to address environmental issues is propelling the adoption of eco-conscious boom lift variants, which are powered by electric or hybrid engines. These models not only mitigate carbon emissions but also curtail operational expenses, aligning with the sustainability objectives of industries keen on minimizing their ecological footprint.
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