What are the Historical Developments and Current Growth Metrics of the Boom Lifts Market?
The boom lifts market has seen considerable growth due to a variety of factors.
• The market size for boom lifts has been seeing robust growth in the past few years. It is anticipated to increase from $11.8 billion in 2024 to $12.69 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.5%.
The spurt in growth during the historical period might be due to factors such as the expansion of construction and infrastructure, maintenance and repair activities, demand from the film and entertainment sector, urbanization movements, and the operation of warehouses and distribution centers.
What are the Market Size and Expected Growth Rates for the Boom Lifts Market?
The boom lifts market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of boom lifts is predicted to witness robust expansion in the forthcoming years, with projections indicating growth to $17.02 billion by 2029, translating to a compound annual growth rate (CAGR) of 7.6%.
Factors contributing to this expected growth during the forecast period include the proliferation of renewable energy projects, advancements in telecommunication networks, emphasis on workspace safety, expansion in e-commerce and logistics, and the introduction of smart city initiatives. Key trends during this forecast period comprise the development of all-terrain boom lifts, the embracing of hybrid power systems, increased reach and working height capabilities, the integration of lithium-ion battery technology, and a focus on improving operator comfort and ergonomics.
What Factors Are Driving Growth In The Boom Lifts Market?
The boom lifts market is projected to experience significant growth due to the escalating demand for construction activities. Construction involves the modification, erection, restoration, conceptualization, purchase, and design of either private or public edifices. Boom lifts are extensively employed in construction owing to their enhanced adaptability, and improved safety measures during construction tasks. Consequently, escalating demand for construction efforts elevates the demand for the boom lifts market. In accordance with the March 2024 projection by Atradius, a Netherlands-based insurance firm offering trade credit insurance, surety, and collection services, the global construction output is projected to boost by 2.0% in 2024, a rise from 3.7% in 2023. Advanced economies are predicted to witness a growth of 1.8%, while the emerging markets are estimated to observe a 2.2% surge in construction activities. Non-residential output and civil engineering are projected to enhance by 2.8% and 4.4%, respectively, this year. By 2025, the global construction is estimated to boost by 1.8%. The residential construction output is anticipated to bounce back by 2.4% due to the improving economy and the impact of more relaxing monetary policies. Thus, the growing demand for construction activities is propelling the boom lifts market's growth.
What Are The Key Segments Within The Global Boom Lifts Market?
The boom lifts market covered in this report is segmented –
1) By Type: Articulating Boom Lifts, Telescopic Boom Lifts, Straight Boom Lifts, Genie Boom lifts, Towable Boom Lifts
2) By Movement Type: Mobile, Fixed
3) By Engine Type: Electric, Engine Powered
4) By End User: Rental, Construction And Building, Mining, Transportation And Logistics, Landscaping And Orchard Work, Other End Users
Subsegments:
1) By Articulating Boom Lifts: Electric Articulating Boom Lifts, Diesel Articulating Boom Lifts
2) By Telescopic Boom Lifts: Electric Telescopic Boom Lifts, Diesel Telescopic Boom Lifts
3) By Straight Boom Lifts: Fixed Boom Lifts, Variable Reach Boom Lifts
4) By Genie Boom Lifts: Genie Articulating Boom Lifts, Genie Telescopic Boom Lifts
5) By Towable Boom Lifts: Manual Towable Boom Lifts, Self-Propelled Towable Boom Lifts
Pre-Book The Boom Lifts Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are New Trends Impacting The Size Of The Boom Lifts Market?
The boom lifts market is increasingly affected by technological advancements, a trend predominantly noticed among prominent companies in the sphere. They focus on creating state-of-the-art products to consolidate their foothold in the marketplace. To be more specific, JCB, a manufacturing corporation from the UK, introduced the T 65D, its inaugural telescopic boom platform powered by diesel, in India in August 2024. The platform is crafted to increase productivity and guarantee safety across different sectors. With a maximal platform elevation of 65 feet 4 inches and a lateral reach of 56 feet 6 inches, it is perfectly suited for high-altitude tasks. It also has a substantial carrying capacity of 450 kilograms, making it capable of handling hefty equipment and materials. The 670SJ’s self-leveling tech feature enhances the boom lift's adaptability to the ground and uneven terrains when moving from one task to another at heights, which significantly improves productivity throughout the working day.
Who Are the Key Players in the Boom Lifts Market?
Major companies operating in the boom lifts market include:
• Kobelco Construction Machinery Co. Ltd.
• XCMG Group (Xuzhou Construction Machinery Group Co. Ltd.
• Sany Group
• JLG Industries Inc.
• Linamar Corporation
• Changsha Zoomlion Heavy Industry Science & Technology Development Co. Ltd.
• Terex Corporation
• Altec Industries Inc.
• Manitou Group
• Tadano Ltd.
• Haulotte Group
• Zhejiang Dingli Machinery Co. Ltd.
• Aichi Corporation
• Manitex International Inc.
• Niftylift Limited
• Palazzani Industrie S.p.A.
• Teupen Maschinenbau GmbH
• Dinolift Oy
• Socage S.r.l.
• Holland Lift International BV
• Leguan Lifts Oy
• Platform Basket s.r.l.
• Falcon Lifts ApS
• Galmon Equipment & Construction Company Limited
• Furukawa UNIC Corporation
• ASPAC Group
• MEC Aerial Work Platforms
• CTE S.p.A.
• Oil & Steel S.p.A.
• Denka Lift Ltd.
What are the Regional Insights into the Boom Lifts Market?
North America was the largest region in the boom lifts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global boom lifts market report during the forecast period. The regions covered in the boom lifts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
