Market Overview:
The boom lifts market is experiencing rapid growth, driven by Surging Construction and Infrastructure Projects, focus on workplace safety, and growth of the rental market. According to IMARC Group's latest research publication, "Boom Lifts Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", The global boom lifts market size was valued at USD 12.4 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 19.6 Billion by 2033, exhibiting a CAGR of 5.18% from 2025-2033.
This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.
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Our report includes:
- Market Dynamics
- Market Trends And Market Outlook
- Competitive Analysis
- Industry Segmentation
- Strategic Recommendations
Growth Factors in the Boom Lifts Market
- Surging Construction and Infrastructure Projects:
The boom lifts industry is thriving due to a global surge in construction and infrastructure development. Governments and private sectors are pouring funds into massive projects like airports, highways, and high-rise buildings. For instance, India’s National Infrastructure Pipeline plans to invest USD 1.3 trillion in infrastructure over the next few years, boosting demand for boom lifts to handle tasks at elevated heights. Urbanization is also a key driver, with 43% of global construction in 2020 tied to residential projects. These machines are essential for safely lifting workers and materials, making them indispensable on modern construction sites. The oil and gas sector further fuels growth, as boom lifts are critical for rig construction and pipeline maintenance, especially in emerging markets with rising production.
- Focus on Workplace Safety:
Heightened emphasis on worker safety is pushing boom lifts’ popularity. Stringent regulations worldwide mandate safer equipment for tasks at height, reducing reliance on risky scaffolding. Boom lifts provide stable, secure platforms for construction, maintenance, and logistics. For example, the U.S. logistics industry, valued at USD 1.6 trillion, relies on boom lifts for safe warehouse operations. Companies like JLG Industries have introduced models with enhanced safety features, such as self-leveling technology, to meet these standards. Government initiatives, like safety training and operator certification programs, further drive adoption. By minimizing accidents and ensuring compliance, boom lifts are becoming the go-to solution for industries like construction and telecommunications, where working at height is routine, fueling steady market growth.
- Growth of the Rental Market:
The rental market is a major growth engine for boom lifts, offering affordability and flexibility for small and medium enterprises. Rental firms dominate, accounting for 93.5% of global boom lift revenue. Industries like construction, mining, and logistics are increasingly renting to meet short-term needs without hefty upfront costs. For instance, Terex Corporation recently expanded its rental offerings through partnerships, catering to booming construction in Asia Pacific. This trend is amplified by rapid urbanization, with 5 billion people expected to live in urban areas by 2030, driving demand for rental equipment in infrastructure projects. Rental companies are also investing in larger fleets to meet diverse industry needs, making boom lifts more accessible and accelerating market expansion globally.
Key Trends in the Boom Lifts Market
- Rise of Electric and Hybrid Boom Lifts:
Electric and hybrid boom lifts are gaining traction as industries prioritize sustainability. These models cut emissions and noise, making them ideal for urban and indoor use. The electric segment already accounts for 35% of market revenue, driven by low operating costs and eco-friendly appeal. For example, LGMG’s AR65JE-H hybrid lift, launched recently, offers seamless electric-to-hybrid transitions, boosting efficiency. Government incentives for green equipment further accelerate adoption, especially in regions like Europe and North America. Companies like Genie are expanding their electric and hybrid lines, responding to demand for sustainable solutions in construction and logistics. This trend aligns with global environmental goals, positioning these lifts as a smart choice for future-focused businesses.
- Integration of Advanced Technologies:
Boom lifts are getting smarter with technologies like telematics, IoT, and augmented reality (AR). These innovations enhance safety and efficiency, appealing to tech-savvy industries. For instance, JLG Industries partnered with an IoT provider to integrate real-time monitoring, reducing downtime through predictive maintenance. AR allows operators to visualize lift placement in tight spaces, improving precision. The construction sector, which accounts for 37% of market share, increasingly adopts these tech-enhanced lifts for complex projects like skyscraper builds. Data-driven insights from sensors also optimize fleet management for rental companies. As industries like telecommunications and warehousing demand precision and uptime, tech-integrated boom lifts are becoming a game-changer, driving innovation and market competitiveness.
- Demand for Compact and Lightweight Models:
Compact and lightweight boom lifts are trending as urban projects require maneuverability in tight spaces. These models are perfect for high-rise maintenance in cities like Singapore or warehouse tasks in logistics hubs. For example, MEC’s NANO10-XD electric scissor lift, recently launched, navigates 2x2-foot ceiling grids with ease. With 68% of the world’s population projected to live in urban areas by 2050, demand for these versatile lifts is soaring. Rental firms, holding 93.5% of market revenue, are stocking more compact models to serve diverse applications, from telecom tower maintenance to film production. This trend reflects the industry’s shift toward flexible, efficient equipment tailored to urban and industrial challenges, ensuring broader adoption.
Leading Companies Operating in the Global Boom Lifts Industry:
- 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 Segmentation:
Breakup By Engine Type:
- Electric
- Engine-powered
On the basis of the engine type, the market has been bifurcated into electric and engine-powered.
Breakup By Product Type:
- Trailer Mounted Booms
- Vehicle Mounted Booms
- Crawler/Spider Booms
Vehicle mounted booms accounted for the largest market share because they offer enhanced mobility and versatility, making them ideal for various applications in construction, maintenance, and landscaping.
Breakup By End Use:
- Rental
- Construction and Building
- Mining
- Transportation and Logistics
- Landscaping and Orchard Work
- Others
Rental represents the leading segment due to the flexibility it provides contractors and businesses, allowing them to access boom lifts without the financial burden of ownership, particularly for short-term projects.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America's dominance in the boom lifts market is attributed to its strong construction and infrastructure development activities, combined with a high adoption rate of advanced aerial work platforms across various industries.
Research Methodology:
The report employs a comprehensive research methodology, combining primary and secondary data sources to validate findings. It includes market assessments, surveys, expert opinions, and data triangulation techniques to ensure accuracy and reliability.
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