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Boom Lifts Market Insights, Growth, Size, Future Analysis, Trends And Forecast To 2032
Boom Lifts Market
The Business Research Company's Boom Lifts Global Market Report 2023 identifies Increasing demand for construction activitiesas the major driver for the Boom Lifts market's growth in the forecast period. Construction refers to the altering, building, repairing, planning, acquiring, and designing of a structure of any private or public building. Boom lifts are widely used in construction as they provide increased versatility, and increased safety while performing construction activities.
The global boom lifts market size is expected to grow from $10.28 billion in 2022 to $11.08 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global boom lifts market size is expected to reach $14.42 billion in 2027 at a CAGR of 6.8%.
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Major competitors in the Boom Lifts market are Tadano Ltd., Galmon, Zoomlion Heavy Industry Science&Technology Co. Ltd., Sany Heavy Industry Co. Ltd., Altec Industries.
A key trend in the Boom Lifts market includes technological advancements. Major companies operating in the boom lift market are focused on developing innovative products with the latest technologies to strengthen their position in the market. For instance, in September 2021, JLG Industries, a US-based manufacturer of telehandlers and mobile elevating work platforms (MEWPs), launched the JLG 670SJ self-leveling boom lift with self-leveling technology. This boom lift is designed to automatically adapt to terrain on slopes up to 10 degrees in any orientation while driving with full functionality at a class-leading 67-foot platform height.
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The Boom Lifts market is segmented -
• By Type: Articulating Boom Lifts, Telescopic Boom Lifts, Straight Boom Lifts, Genie Boom lifts, Towable Boom Lifts
• By Movement Type: Mobile, Fixed
• By Engine Type: Electric, Engine Powered
• By End User: Rental, Construction And Building, Mining, Transportation And Logistics, Landscaping And Orchard Work, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Boom Lifts market.
The Business Research Company's "Global Boom Lifts Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Boom Lifts Market Include:
1. Executive Summary
2. Boom Lifts Market Characteristics
3. Boom Lifts Market Trends And Strategies
4. Boom Lifts Market - Macro Economic Scenario
5. Boom Lifts Market Size And Growth
…………………………………………………..
26. Africa Boom Lifts Market
27. Boom Lifts Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Boom Lifts Market
29. Boom Lifts Market Future Outlook and Potential Analysis
30. Appendix
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