The boom lift market will multiply at an impressive CAGR of 18.2% by 2024 & Top Key Players Genie, JLG, Prangl, Sinoboom, MEC, Nifty Lift, Snorkel Lift, Skyjack and Haulotte Group.

The boom lifts market has wide range of applications in construction industry, oil & gas industry, mining industry, aerospace, shipping and port building among others. Among these segments, the construction industry is expected to behold positive growth over the forecast period owing to rising population and growing rate of construction activities around the globe. The rough-terrain capabilities combined with on-going technical developments to enhance its quality and functions is attracting consumers around the globe, which is further expected to benefit the expansion of the Boom Lifts Market.
The global market of boom lifts is anticipated to reach notable market valuation by the end of 2024 by expanding at a compound annual growth rate of 18.2% over the period 2017-2024. The growth of the boom lifts market is expected to be augmented by rising industrial & construction sites across the globe.

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In the regional segment, Asia Pacific boom lifts market has been the fastest growing market in terms of revenue owing to enhancement of existing infrastructure in emerging economies such as India and China. The Asia Pacific market is anticipated to behold this positive growth over the forecast period with India and China to be the major contributors behind the expansion of the boom lifts market. Further, North America and Europe are anticipated to boost the boom lifts market with significant market share by the end of 2024. Moreover, Middle East & Africa are expected to witness satisfactory compound annual growth rate during the forecast period.

Wide Range Applications Reflect Significant Opportunities

The growth of the boom lifts market is riding on the back of the popularity of boom lifts due to its flexibility and controls combined with development of new telecommunication towers and skyscrapers. This has driven major key players to come up with advanced solutions which are amplifying the demand for boom lifts around the globe. Further, the wide range of applications of boom lifts in numerous industrial and commercial activities and ability to work in difficult conditions is believed to supplement the growth of the market.

However, high cost of boom lifts is likely to dampen the growth of the boom lifts market in the near future.

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The report titled “Boom Lifts Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the boom lifts market in terms of market segmentation by product type, by power source, by end-user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the boom lifts market which includes company profiling of Genie, JLG, Prangl, Sinoboom, MEC, Nifty Lift, Snorkel Lift, Skyjack and Haulotte Group.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the boom lifts market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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