Boom Lift Trends and Forecast
The future of the global boom lift market looks promising with opportunities in the rental, construction & building, mining, transportation & logistic, and landscaping & orchard work markets. The global boom lift market is expected to grow with a CAGR of 6.2% from 2024 to 2030. The major drivers for this market are increasing number of construction and infrastructure projects, growing demand for electric-powered boom lifts, and ongoing integration of technological advancements, such as telematics and IoT among boom lifts.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Boom Lift by Segment
The study includes a forecast for the global boom lift by engine type, product type, end use, and region.
Boom Lift Market by Engine Type [Shipment Analysis by Value from 2018 to 2030]:
• Electric
• Engine-Powered
Boom Lift Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:
• Trailer Mounted Booms
• Vehicle Mounted Boom
• Crawler/Spider Booms
Boom Lift Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Rental
• Construction & Building
• Mining
• Transportation & Logistics
• Landscaping & Orchard Work
• Others
Boom Lift Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Boom Lift Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies boom lift companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the boom lift companies profiled in this report include-
• JLG Industries
• HAULOTTE GROUP
• Dinolift
• LEGUAN LIFTS
• Skyjack
• A Time Manufacturing Company
• Niftylift
Boom Lift Market Insights
Lucintel forecasts that engine-powered will remain the larger segment over the forecast period.
Within this market, rental will remain the largest segment due to increasing demand for boom lifts from these firms for construction, mining, warehousing, logistics, manufacturing, and automotive industries.
North America is expected to witness highest growth over the forecast period due to increasing government investments in residential and commercial construction in the region.
Features of the Global Boom Lift Market
Market Size Estimates: Boom lift market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Boom lift market size by engine type, product type, end use, and region in terms of value ($B).
Regional Analysis: Boom lift market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different engine types, product types, end uses, and regions for the boom lift market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the boom lift market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for boom lift market?
Answer: The global boom lift market is expected to grow with a CAGR of 6.2% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the boom lift market?
Answer: The major drivers for this market are increasing number of construction and infrastructure projects, growing demand for electric-powered boom lifts, and ongoing integration of technological advancements, such as telematics and IoT among boom lifts.
Q3. What are the major segments for boom lift market?
Answer: The future of the boom lift market looks promising with opportunities in the rental, construction & building, mining, transportation & logistic, and landscaping & orchard work markets.
Q4. Who are the key boom lift market companies?
Answer: Some of the key boom lift companies are as follows:
• JLG Industries
• HAULOTTE GROUP
• Dinolift
• LEGUAN LIFTS
• Skyjack
• A Time Manufacturing Company
• Niftylift
Q5. Which boom lift market segment will be the largest in future?
Answer: Lucintel forecasts that engine-powered will remain the larger segment over the forecast period.
Q6. In boom lift market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to increasing government investments in residential and commercial construction in the region.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the boom lift market by engine type (electric and engine-powered), product type (trailer mounted booms, vehicle mounted boom, and crawler/spider booms), end use (rental, construction & building, mining, transportation & logistics, landscaping & orchard work, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Boom Lift Market, Boom Lift Market Size, Boom Lift Market Growth, Boom Lift Market Analysis, Boom Lift Market Report, Boom Lift Market Share, Boom Lift Market Trends, Boom Lift Market Forecast, Boom Lift Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.