Global Boom Lifts Market Expands with Articulating Boom Lifts Segment at a robust CAGR
The increasing global
Boom Lifts market is driven by rising demand for infrastructure development and
construction, growing emphasis on safety and productivity during the forecast
period 2024-2028.
According to TechSci
Research report, “Global Boom
Lifts Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast 2018-2028”, The Global Boom Lifts Market continues to thrive,
showcasing robust growth and innovation amid evolving industry dynamics. A new
market report reveals that the demand for boom lifts, essential in
construction, maintenance, and various industries requiring elevated access,
remains strong, driven by global infrastructure development projects and the
increasing emphasis on sustainability. The Global Boom Lifts
Market, segmented into various categories, including electric and
engine-powered models, is witnessing a notable shift towards sustainability.
Electric boom lifts have been gaining prominence due to their eco-friendly
attributes. These machines produce zero emissions at the point of use, aligning
perfectly with the stringent environmental regulations and green construction
practices that are becoming increasingly prevalent worldwide. The reduced
emissions, lower operational costs, and versatility of electric boom lifts make
them a preferred choice for both indoor and outdoor applications. As a result,
they have been dominating the market. The versatility of boom lifts
has also contributed to their continued growth. These machines find
applications in a diverse range of industries, including construction,
telecommunications, agriculture, and manufacturing. Their ability to access
elevated work zones with precision and ease has made them indispensable tools
for a wide range of tasks, driving consistent demand across sectors.
Safety and productivity
remain paramount in the industry. Manufacturers have been consistently
investing in research and development to enhance the safety features of boom
lifts. These advancements include advanced sensor systems, collision avoidance
technology, and improved stability controls, which not only protect operators
but also reduce downtime and enhance productivity on job sites.
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The rental market for boom
lifts is also expanding, offering businesses flexibility and cost-effective
solutions. Many construction and industrial companies opt to rent boom lifts
rather than making upfront purchases. Rental providers have been expanding
their fleets and offering a wide range of boom lift options, including electric
and engine-powered models, to cater to diverse customer needs.
Innovation continues to be a
cornerstone of the industry, with manufacturers continually developing new
features and capabilities. These innovations include improved control systems,
more precise positioning, advanced battery technology for electric models, and
enhanced telematics for remote monitoring and diagnostics. Technology-driven
progress is not only meeting customer demands for higher productivity and ease
of use but also addressing environmental concerns.
While electric boom lifts
are currently dominating the market due to their eco-friendliness, it is
important to note that engine-powered boom lifts, fueled by diesel or gasoline,
remain a relevant segment. They excel in applications requiring higher reach
and rough-terrain capabilities, making them essential for specific construction
and outdoor projects.
The global Boom Lifts market
is segmented into type, offering, power source, sales type, end-user
application, and region. Based on product type, the market is segmented into
articulating boom lifts, telescopic boom lifts, straight boom lifts, others. Based
on movement type, the market is segmented into mobile and fixed. Based on engine
type, the market is segmented into electric, engine powered. Based on end user
industry, the market is segmented into construction industry, mining industry,
oil gas industry, others. Based on region, the market is further bifurcated
into North America, Asia-Pacific, Europe, South America, Middle East &
Africa.
Based on engine type,
electric boom dominates in the global Boom Lifts market in 2022. The dominance
of electric boom lifts can be attributed to several key factors. First and
foremost is the increasing emphasis on environmental sustainability and the
need to reduce emissions in various industries. Electric boom lifts produce
zero emissions at the point of use, making them an eco-friendly choice suitable
for both indoor and outdoor applications. This aligns with stricter
environmental regulations and the growing preference for green construction
practices.
Furthermore, electric boom
lifts offer advantages in terms of noise reduction and reduced operational
costs. They are quieter than their engine-powered counterparts, making them
suitable for urban and noise-sensitive environments. Additionally, electric
boom lifts tend to have lower fuel and maintenance costs since they do not rely
on internal combustion engines. This cost-efficiency appeals to businesses
looking to optimize their operational expenses.
The versatility of electric
boom lifts in various applications also contributes to their dominance. They
are used extensively in tasks such as building maintenance, facility
management, construction, and warehouse operations. Their ability to operate
indoors without emitting harmful fumes makes them ideal for work in enclosed
spaces.
Manufacturers have responded
to the demand for electric boom lifts by investing in battery technology and
improving the efficiency and runtime of electric models. This ongoing
innovation ensures that electric boom lifts can compete with their
engine-powered counterparts in terms of performance and reach.
Key market players in the
global Boom Lifts market are: -
- JLG Industries, Inc. (Oshkosh Corporation)
- Terex Corporation
- Genie Industries, Inc. (Terex Corporation)
- Skyjack International Inc.
- Haulotte Group
- Manitou Group
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
- Sinoboom Group Co., Ltd.
- XCMG Group Co., Ltd.
- Sany Group Co., Ltd.
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“The Global Boom Lifts
Market is a vital segment of the construction and industrial equipment
industry, experiencing steady growth. Fueled by increasing infrastructure
development and construction projects worldwide, boom lifts are in high demand.
Safety and productivity remain paramount, driving continuous innovation in
safety features and technology. These versatile machines find applications in
various industries, from agriculture to telecommunications. The rental market
for boom lifts is also expanding, offering flexibility and cost-effective
solutions. Overall, the Global Boom Lifts Market presents a promising landscape
driven by market demand, technological advancements, diverse applications, and
the growing rental market.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Boom Lifts Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By
Product Type (Articulating Boom Lifts, Telescopic Boom Lifts, Straight Boom
Lifts, Others), By Movement Type (Mobile, Fixed), By Engine Type (Electric,
Engine Powered), By End User Industry (Construction Industry, Mining Industry,
Oil Gas Industry, Others), By Region, and By Competition, 2018-2028,” has evaluated the future growth
potential of Global Boom Lifts Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Boom Lifts Market.
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