Global Lattice And Telescopic Boom Market Projected to Grow at 4% CAGR, Reaching $2.31 Billion by 2029

"Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

What Will the Lattice And Telescopic Boom Industry Market Size Be by 2025?
In recent times, the market size for lattice and telescopic boom has seen consistent growth. It is projected to escalate from a value of $1.89 billion in 2024 to $1.97 billion in 2025, with a compound annual growth rate (CAGR) of 4.4%. Factors that contributed to the growth during the historic period include accelerating urbanization, a surge in infrastructure development projects, expansion of renewable energy projects, a boost in investments in mining and extraction industries, as well as growth in the oil and gas sector.

What's the Long-Term Growth Forecast for the Lattice And Telescopic Boom Market Size Through 2029?
Expectations are high for the lattice and telescopic boom market as it is predicted to witness consistent growth in the coming years. The growth is estimated to reach $2.31 billion in 2029, with a compound annual growth rate (CAGR) of 4.0%. This growth projection for the forecast period can be linked to expansion in the shipbuilding and marine industries, the escalating focus on workplace safety and efficiency, and growth in logistics and warehousing sectors. Varying factors such as elevated heavy equipment rental rates and government expenditure on public infrastructure are also contributors. The evolving trends expected during this forecast period encompass the use of lightweight materials, cutting-edge advancements in sensor technology for immediate monitoring, the emergence of autonomous functionalities, the incorporation of remote operation capabilities, and the shift towards electric and hybrid power systems.

View the full report here:
https://www.thebusinessresearchcompany.com/report/lattice-and-telescopic-boom-global-market-report

What Are the Key Growth Drivers Fueling the Lattice And Telescopic Boom Market Expansion?
The lattice and telescopic boom market is projected to experience growth, driven by the expanding need for construction activities. The construction industry covers diverse operations such as design, building, maintenance, and even renovation, repair, or demolition of pre-existing structures. These booms aid construction activities through their extended reach, versatility of operations, and effective flexibility in difficult work-site situations. For example, in November 2023, the Office for National Statistics (ONS), a non-ministerial department in the UK, reported a significant increase in new construction orders. The annual increase in 2022 was 11.4% compared to 2021, reaching a record high of £80.837 billion ($102.16 billion). This increase was powered by activities in private infrastructure, private commercial projects, and other public non-housing sectors, witnessing growth rates of 85.1%, 10.2%, and 17.5% respectively. Thus, as the construction industry continues to demand more, it will further fuel the growth of the lattice and telescopic boom market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16717&type=smp

What Are the Key Trends Driving Lattice And Telescopic Boom Market Growth?
Significant companies in the lattice and telescopic boom industry are advancing self-leveling boom lift innovations to augment flexibility, prolong reach, and boost efficiency in an array of construction and industrial applications. The term ""self-leveling boom lift technology"" implies an innovative characteristic in boom lifts (also known as aerial work platforms or cherry pickers) that maintains the work platform's level spontaneously, irrespective of the boom's location or the surface on which the machine operates. For example, in November 2022, JLG Industries Inc., a US-based manufacturer, came out with the JLG 670SJ self-leveling boom lift technology for telescopic boom forklifts. The JLG 670SJ Self-Leveling Boom Lift, a diesel-driven telescopic boom lift, is tailored for construction, maintenance, and industrial uses. This system modifies the platform's position autonomously to sustain a level working area, even when functioning on rough terrain. This delivers enhanced safety and productivity attributes to aid operators in increasing their efficiency. The system employs sensors to discern variations in the boom's angle and adapt the platform's position consequently. These sensors are placed at the boom's foundation and relay a signal to the lift's hydraulic system.

How Is the Lattice And Telescopic Boom Market Segmented?
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

Subsegments:
1) By Lattice and Telescopic Boom: Lattice Boom Cranes, Telescopic Boom Cranes, Hybrid Boom Cranes
2) By Crawler: Crawler Crane with Lattice Boom, Crawler Crane with Telescopic Boom, All-Terrain Crawler Cranes
3) By Rough Terrain: Rough Terrain Cranes with Telescopic Boom, Rough Terrain Cranes with Lattice Boom
4) By All-Terrain: All-Terrain Cranes with Telescopic Boom, All-Terrain Cranes with Lattice Boom, Multi-Purpose All-Terrain Cranes
5) By Truck Loader: Truck-Mounted Cranes with Telescopic Boom, Truck-Mounted Cranes with Lattice Boom, Articulating Truck Loader Cranes

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=16717&type=smp

Which Companies Are Leading the Charge in Lattice And Telescopic Boom Market Innovation?
Major companies operating in the lattice and telescopic boom market are Kobleco Kobe Steel, The Liebherr Group, Sumitomo Heavy Industries Ltd., Ingersoll Rand Inc., Ter*ex 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

Which Regions Are Leading the Global Lattice And Telescopic Boom Market in Revenue?
Asia-Pacific was the largest region in the lattice and telescopic boom market in 2024, and is expected to be the fastest-growing region in the forecast period. The regions covered in the lattice and telescopic boom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16717

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work."

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ"

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.