Boom Lifts Market

Market Overview:

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. The increasing urbanization and construction growth, stringent occupational safety regulations, technological advancements, environmental sustainability, and diverse functional requirements across industries are some of the major factors propelling the market.

Boom lifts are specialized aerial work platforms that provide access to elevated locations. These machines feature a platform or bucket at the end of a hydraulic lifting structure, which is mounted on a vehicle. Boom lifts can extend horizontally and vertically, offering flexibility in reaching various heights and angles. They are commonly used in construction, maintenance, and other industries that require access to high places. Safety measures, such as guardrails and harness attachments, are integral to their operation, ensuring that workers can perform tasks securely and efficiently.

Rapid urbanization in emerging economies, coupled with a surge in construction activities across commercial, residential, and infrastructure sectors, necessitates the use of boom lifts for efficient and safe height access. This, in turn, is driving their global market. Concurrent with this, strict occupational safety regulations are enforcing the adoption of advanced equipment, such as boom lifts, to ensure worker safety, which is bolstering the market growth. Moreover, significant technological advancements, such as the introduction of more energy-efficient, versatile, and user-friendly products, are presenting remunerative opportunities for market expansion. In addition to this, the shift towards automation and the integration of smart features into these machines are attracting more industries, creating a positive outlook for market growth. Furthermore, increased investment in the maintenance and refurbishment of existing structures is strengthening the market growth.

Boom Lifts Market Trends/Drivers:

Construction and urbanization growth

The global boom lifts market is substantially driven by the surge in construction activities. As urban areas expand, the demand for new buildings, roads, bridges, and other infrastructure projects increases. Boom lifts play a critical role in these projects, as they provide access to heights and spaces that are otherwise hard to reach. From construction and maintenance to repair and renovation, boom lifts are essential equipment for a wide range of tasks in the construction and infrastructure sectors. This sustained demand for construction and maintenance work fuels the need for versatile and efficient aerial access equipment like boom lifts.

Occupational safety regulations

Governments and regulatory bodies around the world are implementing stringent safety regulations to protect workers operating at heights. As companies strive to create safer working environments, there is an increasing emphasis on reducing accidents and injuries during construction, maintenance, and other tasks that involve working at heights. Boom lifts offer a safer alternative to traditional methods, such as ladders and scaffolding, by providing stable platforms and enhanced maneuverability. Additionally, boom lifts contribute to improved efficiency. They enable workers to access elevated areas quickly and easily, reducing the time required to complete tasks. As regulations become more stringent and companies prioritize the well-being of their employees, the adoption of boom lifts as a safer and more efficient solution continues to grow.

Technological advancements

The integration of technology into boom lifts is another critical factor driving the market. Manufacturers are focusing on innovations that enhance energy efficiency, versatility, and user-friendliness. Modern boom lifts come equipped with features such as telescopic and articulating arms, precise control systems, enhanced maneuverability, and advanced safety mechanisms. These innovations allow operators to navigate through complex job sites and reach heights with precision, making them an attractive choice for various applications. Integration of IoT (Internet of Things) technology has further expanded the capabilities of boom lifts. IoT-enabled boom lifts provide real-time data on their operational status, maintenance requirements, and performance, allowing companies to optimize their usage, schedule maintenance, and reduce downtime. Such advancements enhance the value proposition of boom lifts, making them indispensable tools across multiple industries.

Boom Lifts Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global boom lifts market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on engine type, product type, and end use.

Breakup by Engine Type:

• Electric
• Engine-powered
   

A detailed breakup and analysis of the market based on the engine type has also been provided in the report. This includes electric and engine-powered.

The growing emphasis on environmental sustainability and operational efficiency is propelling the demand for electric and engine-powered boom. Electric boom lifts help reduce emissions, noise pollution, and energy consumption, aligning with global environmental regulations and corporate sustainability goals. On the other hand, engine-powered boom lifts provide robust performance and reliability, especially in outdoor environments with demanding terrains. The adaptability of these machines to specific needs and environments, along with their alignment with global sustainability efforts, has increased their attractiveness across various industries, from manufacturing and warehousing to entertainment and retail. These attributes are fostering the demand for both electric and engine-powered boom lifts.

Breakup by Product Type:

• Trailer Mounted Booms
• Vehicle Mounted Booms
• Crawler/Spider Booms
   

Vehicle mounted booms dominate the market

The report has provided a detailed breakup and analysis of the market based on the product type. This includes trailer mounted booms, vehicle mounted booms, and crawler/spider booms. According to the report, vehicle mounted booms represented the largest segment.

The demand for trailer-mounted, vehicle-mounted, and crawler/spider boom lifts are propelled by their unique functional characteristics tailored to specific applications. Trailer-mounted boom lifts offer mobility and easy transportation, making them ideal for short-term projects or multi-site tasks. Vehicle-mounted boom lifts are often used for maintenance and repair operations, providing flexibility and efficiency in urban areas with limited space. Crawler or spider boom lifts, with their compact design and ability to navigate rough terrains, find application in areas where conventional boom lifts may struggle. The distinct advantages of each type cater to different industry requirements, ranging from construction to utilities, enhancing their adaptability and consequently driving their demand in the global market.

Breakup by End Use:

• Rental
• Construction and Building
• Mining
• Transportation and Logistics
• Landscaping and Orchard Work
• Others
   

Rental holds the largest share in the market

A detailed breakup and analysis of the market based on the end use has also been provided in the report. This includes rental, construction and building, mining, transportation and logistics, landscaping and orchard work, and others. According to the report, rental accounted for the largest market share.

The specialized needs across rental, construction and building, mining, transportation, logistics, and landscaping sectors are driving the demand for boom lifts. In the rental market, short-term requirements and cost-saving considerations drive demand as companies opt to rent rather than purchase these machines. For mining, rugged designs are utilized to operate in challenging environments. In transportation and logistics, boom lifts enable efficient loading and unloading. Landscaping and orchard work requires the agility and precision that boom lifts offer, especially in reaching different elevations of trees and structures. These specific applications and the corresponding requirements for each sector are propelling the use of boom lifts in these fields.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others

• Middle East and Africa
   

North America exhibits a clear dominance, accounting for the largest boom lifts market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The rising emphasis on infrastructure renewal and modernization in North America is driving the demand for boom lifts. Besides this, stringent safety regulations, the need for efficient maintenance and repair of aging infrastructure, and the expansion of the construction and telecommunications industries in the region is contributing to the market's growth. Moreover, the stringent regulatory framework in Europe favoring energy-efficient machinery, the refurbishment of historic structures, and the growing demand for renewable energy installations have driven the use of boom lifts for tasks that require precision access at elevated heights. Apart from this, rapid urbanization, increasing investments in mega-infrastructure projects, and the burgeoning construction sector in the Asia Pacific region are aiding in market expansion. Across all three regions, localized trends, economic development goals, specific regulatory environments, and cultural considerations are shaping the adoption and utilization of boom lifts, catering to the unique needs and priorities of each region's industries and markets.

Competitive Landscape:

The competitive landscape of the global boom lifts market is distinguished by the existence of numerous players, ranging from established multinational corporations to emerging local companies. Key players are engaged in continuous innovation, technological advancements, and product differentiation to gain a competitive edge. Collaborations, mergers, and acquisitions are common strategies to expand market presence and enhance product offerings. The market also witnesses competition based on pricing, especially from local manufacturers who may offer cost-effective solutions. Additionally, a strong focus on compliance with safety regulations and environmental standards adds another layer of competitiveness. Global players are investing in research and development to create user-friendly, efficient, and sustainable products that meet the diverse needs of various industries.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• 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 Scope:

Key Questions Answered in This Report:

• How has the global boom lifts market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global boom lifts market?
• What is the impact of each driver, restraint, and opportunity on the global boom lifts market?
• What are the key regional markets?
• Which countries represent the most attractive boom lifts market?
• What is the breakup of the market based on the engine type?
• Which is the most attractive engine type in the boom lifts market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the boom lifts market?
• What is the breakup of the market based on the end use?
• Which is the most attractive end use in the boom lifts market?
• What is the competitive structure of the global boom lifts market?
• Who are the key players/companies in the global boom lifts market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the boom lifts market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global boom lifts market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the boom lifts industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.