Lattice And Telescopic Boom Market Outlook Report 2024-2033: Trends, Analysis, Insights, Overview

"The new report published by The Business Research Company, titled ""Lattice And Telescopic Boom Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the lattice and telescopic boom market size has grown steadily in recent years. It will grow from $1.82 billion in 2023 to $1.89 billion in 2024 at a compound annual growth rate (CAGR) of 4%. The lattice and telescopic boom market size is expected to see steady growth in the next few years. It will grow to $2.22 billion in 2028 at a compound annual growth rate (CAGR) of 4.1%.

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Growing Demand For Construction Driving Lattice And Telescopic Boom Market Expansion
The growing demand for construction is expected to propel the growth of the lattice and telescopic boom market going forward. The construction industry encompasses a wide range of activities related to infrastructure design, building, and maintenance. It includes both the creation of new structures and the renovation, repair, and demolition of existing ones. Lattice and telescopic boom support the construction industry by providing extended reach, operational versatility, and effective maneuverability in challenging job site environments. For instance, in November 2023, according to the Office for National Statistics (ONS), a UK-based non-ministerial department, annual new construction orders surged by 11.4% in 2022 compared to 2021, marking a historic peak of £80.837 billion ($102.16 billion). Moreover, there was a rise driven by signing in private infrastructure, private commercial projects, and other public non-housing sectors, which experienced growth rates of 85.1%, 10.2%, and 17.5%, respectively. Therefore, the growing demand for construction will drive the lattice and telescopic boom market.

Innovative Advancements In Telescopic Crane Technology
Major companies operating in the lattice and telescopic boom market are developing self-leveling boom lift technology to enhance flexibility, extend reach, and improve efficiency across various construction and industrial uses. Self-leveling boom lift technology refers to an advanced feature in boom lifts (also known as aerial work platforms or cherry pickers) that automatically keeps the work platform level regardless of the boom's position or the terrain on which the machine operates. For instance, in November 2022, JLG Industries Inc., a US-based manufacturing company, launched the JLG 670SJ self-leveling boom lift technology for telescopic boom forklifts. The JLG 670SJ Self-Levelling Boom Lift is a diesel-powered telescopic boom lift designed for construction, maintenance, and industrial applications. This system automatically adjusts the position of the platform to maintain a level working surface, even when operating on uneven terrain. This offers advanced safety and productivity features to help operators work more efficiently. The system uses sensors to detect changes in the boom's angle and adjust the platform's position accordingly. These sensors are located at the boom's base and send a signal to the lift's hydraulic system.

The lattice and telescopic boom market covered in this report is segmented -

1) By Mobile Cranes: Lattice And Telescopic Boom, Crawler, Rough Terrain, All Terrain, Truck Loader
2) By Fixed Cranes: Industrial, Tower, Ship To Shore
3) By Operation: Hydraulic, Electric

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Major companies operating in the lattice and telescopic boom market are Kobleco Kobe Steel, The Liebherr Group, Sumitomo Heavy Industries Ltd., Ingersoll Rand Inc., Tere*x Corporation, Mammoet, The Manitowoc Company Inc., Palfinger AG, Tadano Ltd., Sarens n.v./s.a, Kato Works Co. Ltd., Link-Belt Cranes, Manitex International Inc., Favelle Favco Berhad, SANY Group, Lampson International LLC, Jekko s.r.l., XCMG Group, Sennebogen Maschinenfabrik GmbH, Cormach Srl

Contents of the report:
1. Executive Summary
2. Lattice And Telescopic Boom Market Report Structure
3. Lattice And Telescopic Boom Market Trends And Strategies
4. Lattice And Telescopic Boom Market - Macro Economic Scenario
5. Lattice And Telescopic Boom Market Size And Growth
…..
27. Lattice And Telescopic Boom Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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