Boom Lifts Market

Analysis by Product Type (Telescopic Boom Lifts, Articulating Boom Lifts, Trailer Mounted Boom Lifts, Bucket Trucks and Towable Boom Lifts); by Power Source (Engine Powered Boom Lifts, Hybrid Boom Lifts, Electric Boom Lifts); and by End User (Construction Industry, Oil & Gas Industry, Mining Industry, Aerospace and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 352 | Published On: Feb 13, 2023
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Global Boom Lifts Market Regional Synopsis

Regionally, the global boom lifts market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033 owing to increasing constructional activities and investments in existing infrastructure in emerging economies such as China and India. For instance, the Indian government intends to invest USD 1.3 trillion in infrastructure in the next five years through its 'National Infrastructure Pipeline'. The Infrastructure sector accounted for 12% of the total FDI inflows in 2021, which totaled USD 80 billion. Further, major companies in the region have been producing advanced boom lifts with higher capabilities, and demand for boom lifts in Asia Pacific region is anticipated to increase in near future, where India and China are expected to be major contributors to the growth of the global boom lifts market. 


The global boom lifts market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

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Global Boom Lifts Market: Growth Drivers and Challenges

Growth Drivers

  • Development Of New Telecommunication Towers Worldwide- Telecom towers have played a pivotal role in advancing connectivity. The number of towers has increased by more than twofold between 2007 and 2020 with a compound annual growth rate of 7%, reaching 600,200 by 2020.

A boom lift is the most reliable way to maintain and repair towers. Operation at height is made easier with this. Large boom arms and extendable baskets of boom lifts are the only equipment that can reach the tower's top and sides. Basic precautions and proper use of the equipment make this type of equipment absolutely safe. In addition, the construction of new telecommunication towers, skyscrapers, and their ongoing maintenance of them are some of the major factors predicted to foster the demand for boom lifts in construction. 

  • Surge In Number Of Projects For Smart Cities- For instance, Under India's smart city initiative, more than 2000 projects have been completed worth more than 5 billion dollars. Currently, approximately 4,500 projects worth USD 20 billion are in progress.
  • Rise In The Number Of Bridges That Need To Be Replaced Or Repaired - It was observed that in the US, there are more than 590,000 bridges. A total of 590,000 bridges across the nation need to be replaced, repaired, or rehabilitated. There is a need for urgent repairs on about 7.5% of these bridges due to their poor structural integrity.
  • Increasing Residential Construction Activities- For instance, there was an estimate 7% growth in residential construction in 2021. Residential construction represents 43% of total global construction in 2020, making it the biggest sub-sector and a major contributor to market growth.
  • Rapidly Growing Urbanization Worldwide- Urbanization is on the rise around the world. In 2030, approximately 5 billion people will live in towns and cities, an increase of over 50% over today.


  • High Cost Associated With Boom Lifts
  • Increased Interest Among End Users In Maintaining Used Machines
  • Time Consuming Manufacturing Process of Machines

The global boom lifts market is segmented and analyzed for demand and supply by end user into construction industry, oil & gas industry, mining industry, aerospace and others. Among these segments, the oil & gas industry segment is anticipated to capture the largest market size in the global boom lifts market owing to the rising production of oil and gas in emerging countries along with the increasing investment in the oil and gas industry. It was observed that India's oil and gas sector is one of its eight core industries and by 2022, USD 24 billion is expected to be invested in exploration and production within the industry. Moreover, oil and gas projects require the construction of drilling rigs, the transportation and placement of heavy pipes, and the safe operation of pipelines and drilling rigs, which is anticipated to drive segment growth over the forecast period.

Market Segmentation

Our in-depth analysis of the global boom lifts market includes the following segments:

By Product Type

  • Telescopic Boom Lifts
  • Articulating Boom Lifts
  • Trailer Mounted Boom Lifts
  • Bucket Trucks
  • Towable Boom Lifts

By Power Source

  • Engine Powered Boom Lifts
  • Hybrid Boom Lifts
  • Electric Boom Lifts

By End User

  • Construction Industry
  • Oil & Gas Industry
  • Mining Industry
  • Aerospace
  • Others

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Top Featured Companies Dominating the Global Boom Lifts Market

    • Terex Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Genie
    • JLG Industries, Inc
    • Prangl
    • Sinoboom
    • MEC Co., Ltd.
    • Nifty Lift
    • Snorkel Lift
    • Skyjack
    • Haulotte Group


In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the boom lifts market?

Ans: Increasing construction activities, rising utilization of boom lifts in various end use industries along with growing investments in infrastructure development are the major factors driving the growth of the boom lifts market.

2) What would be the CAGR of boom lifts market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the boom lifts market growth?

Ans: Increased interest among end users in maintaining used machines is anticipated to hinder market growth.

4) Which region will provide more business opportunities for growth of boom lifts market in future?

Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the boom lifts market?

Ans: The major players in the market are Terex Corporation, Genie, JLG Industries, Inc, Prangl, Sinoboom, MEC Co., Ltd., Nifty Lift, Snorkel Lif, Skyjack and Haulotte Group.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the boom lifts market?

Ans: The market is segmented by product type, power source, end user and, by region.

8) Which segment captures the largest market size in end user segment in the boom lifts market?

Ans: The oil and gas industry is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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