Global Boom Lifts Market 2017-2021

Overview of the global boom lifts market

Research analysis on the boom lifts market identifies that the increasing number of smart cities will be one of the major factors that will have a positive impact on the growth of the market. Many private investors in the emerging economies are collaborating with governments to build smart cities. Currently, EMEA has the highest number of smart cities and the number of smart cities is increasing in APAC at a significant rate. It has been estimated that by 2025, 67 new smart cities will be developed in APAC. This in turn, will drive the growth of the construction industry, consequently, fueling the the need for boom lift or aerial lifts. Technavio's market research analysts predict that this aerial work platform market will grow at a CAGR of more than 18% by 2021.

Hhybrid boom lifts are fuel-efficient and help users save operatonal costs. Moreover, they also have a minimal impact on the environment. This will encourage companies to adopt telematics and smart hydraulics technologies in to reduce energy consumption and enhance the operator's comfort. According to  our market research report, the introduction of hybrid boom lift is one of the key trends that will gain traction in the global boom lifts market during the predicted period.

Competitive landscape and key vendors

The boom lifts market is competitive and fragmented due to the presence of several local and international vendors. Many small and medium-sized enterprises in the aerial work platform market are trying to establish their presence. International vendors are adopting innovative technology and have superior after-sales service and maintenance. This makes it difficult for new and local vendors to compete with international vendors. The strong customer relationship and superior product quality of vendors will help them to survive in the market.

Key vendors in this market are -

• AICHI
• Altec Industries
• HAULOTTE GROUP
• Tadano
• Terex

Other prominent vendors in the market include ASPAC Group, Elliott Equipment Company, JLG Industries (Oshkosh), Manitex International, MEC, XCMG Group, Niftylift, Skyjack, Dinolift, TEUPEN, and Snorkel.

Segmentation by end-user and analysis of the boom lifts market

• Construction sector
• Telecommunication sector

Boom lifts provide safe access for working at a height during construction activities. The employment opportunities are increasing due to the stable global economic conditions, strong regional macroeconomic conditions, and high productivity. This in turn, will drive the demand for offices spaces around the globe. As a result, the adoption of boom lift or manlift will increase due to the rising demand from non-residential construction, particularly from office spaces, industrial sector, and aviation segments.

Segmentation by geography and analysis of the boom lifts market

• Americas
• APAC
• EMEA

The growth in construction of commercial and residential buildings in developing nations across APAC is driving the need for boom lifts in the region. The need for residential construction will further increase with the rising disposable income and rapid urbanization. Also, the relaxation of strict regulations will encourage investments in the manufacturing sector. For instance, India is relaxing its foreign direct investment (FDI) restrictions in many industrial sectors such as civil aviation and construction. This will boost growth in the manufacturing sector and fuel the adoption of articulating boom lift in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global boom lifts market?
• What are the key market trends impacting the growth of the global boom lifts market?
• What are the challenges to market growth?
• Who are the key vendors in the global boom lifts market?
• What are the market opportunities and threats faced by the vendors in the global boom lifts market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global boom lifts market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming market research report on the global boom lifts market offers insights into the major trends and forthcoming drivers influencing the growth of the heavy industry sector. Our reports for the heavy industry also follow a scrupulous data collection methodology and present an extensive analysis of fast growing market segments like construction.  

By considering the market forecast and size, surging demand for various segments of the construction sector, the market research professionals at Technavio present an all-inclusive picture of the global boom lifts market for 2017 to 2021. Furthermore, our research practices support clients develop impactful growth strategies and keep pace with the continually changing market dynamics. This market research report also presents an extensive analysis of various products and services based on the insights gathered from the information gathered from specific resources such as channel partners and market stakeholders.

This forthcoming market research report on the boom lifts market also covers vendors like Terex, Haulotte, and JLG Industries. According to our industry experts, the steadily rising construction equipment rental services across the globe is expected to impact the global market during the next few years. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the boom lifts market also covers geographies like the Americas, APAC, and EMEA.

The upcoming industry research report on the boom lifts market also categorizes the major drivers, key trends, along with the imminent restraints that the construction sector currently experiences. This upcoming report on the boom lifts market also presents insights into the rapidly changing competitive landscape to give clients a complete picture of the forthcoming events within the heavy industry. Technavio also offers in-depth market assessments into the sectors such as tools and components and unit operations.

Our market research methodology for the boom lifts market

Technavio also offers clients the possibility to customize every report to suit their specific requirements and offers attractive discounts on all forthcoming reports and future purchases.