Boom Lifts Market Trends That Will Shape the Next Decade: Insights from JLG Industries Introduces Self-Leveling Technology In The Boom Lift Market With The Launch Of JLG 670SJ

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How Large Will the Boom Lifts Market Size By 2025?
The market size for boom lifts has been on a steady increase over the years. The figure is projected to rise from $11.8 billion in 2024 to $12.48 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%. The historical growth of this market is linked to factors such as construction and infrastructure development, maintenance and repair operations, the film and entertainment sector's demand, trends in urbanization, and activities in warehouses and distribution centers.

How Big Is the Boom Lifts Market Size Expected to Grow by 2029?
The market size for boom lifts is primed to undergo robust expansion in the forthcoming years. It is projected to escalate to $16.39 billion by 2029, experiencing a compound annual growth rate (CAGR) of 7.0%. This anticipated growth during the forecast period can be credited to the proliferation of renewable energy projects, upgrades to the telecommunication network, emphasis on workplace safety, the surge in e-commerce and logistics, and smart city endeavors. Notable trends envisaged during this period comprise the creation of all-terrain boom lifts, the incorporation of hybrid power systems, enhanced outreach and operating heights, the application of lithium-ion battery technology, and a focus on improving operator comfort and ergonomics.

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Which Key Market Drivers Powering Boom Lifts Market Expansion and Growth?
The surge in construction activities is predicted to fuel the expansion of the boom lifts market. The term construction encompasses all aspects of the alteration, construction, repair, planning, procurement, and design of any private or public building. Due to their improved safety and versatility, boom lifts are commonly used in the construction industry. Consequently, as construction activity rises, so does the demand for boom lifts. For example, Atradius, a Netherlands-based insurance company that offers trade credit insurance, surety, and collections services, forecasted in March 2024 that global construction output would grow by 2.0% in 2024, up from 3.7% the previous year. It's predicted that there will be a growth of 1.8% in advanced economies, while emerging markets may see a 2.2% increase in construction activities. For this year, non-residential output and civil engineering are both predicted to grow, with increases of 2.8% and 4.4% respectively. By 2025, global construction is expected to increase by 1.8%, with residential construction output expected to recover by 2.4% thanks to strengthening economic conditions and relaxed monetary policies. As a result, the rising demand for construction activities is driving the boom lifts market's growth.

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What Long-Term Trends Will Define the Future of the Boom Lifts Market?
One of the prevailing trends in the boom lifts market is the development and application of cutting-edge technology. Leading companies in this sector are investing heavily in creating innovative products using advanced technologies to solidify their market standing. For example, in August 2024, JCB, a UK-based manufacturer, introduced its first diesel-fueled telescopic boom platform in India named T 65D. This device was crafted to increase both productivity and safety across a range of industries. With a maximum height of 65 feet 4 inches and an outstretching ability of 56 feet 6 inches, the T 65D is particularly fit for high-rise operations. Its load-bearing capacity of approximately 450 kilograms makes it ideal for hauling considerable amounts of equipment and supplies. The 670SJ's unique self-leveling technology is invented to modify the boom lift's body based on the surface it's on, proficiently managing irregular ground while switching between jobs at various heights. This results in substantial progress in productivity during the daily operations.

What Are the Emerging Segments in the Boom Lifts Market?
The boom liftsmarket covered in this report is segmented -

1) By Type: Articulating Boom Lifts, Telescopic Boom Lifts, Straight Boom Lifts, Genie Boom lifts, Towable Boom Lifts
2) By Movement Type: Mobile, Fixed
3) By Engine Type: Electric, Engine Powered
4) By End User: Rental, Construction And Building, Mining, Transportation And Logistics, Landscaping And Orchard Work, Other End Users

Subsegments:
1) By Articulating Boom Lifts: Electric Articulating Boom Lifts, Diesel Articulating Boom Lifts
2) By Telescopic Boom Lifts: Electric Telescopic Boom Lifts, Diesel Telescopic Boom Lifts
3) By Straight Boom Lifts: Fixed Boom Lifts, Variable Reach Boom Lifts
4) By Genie Boom Lifts: Genie Articulating Boom Lifts, Genie Telescopic Boom Lifts
5) By Towable Boom Lifts: Manual Towable Boom Lifts, Self-Propelled Towable Boom Lifts

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Who Are the Global Leaders in the Boom Lifts Market?
Major companies operating in the boom lifts market include Kobelco Construction Machinery Co. Ltd., XCMG Group (Xuzhou Construction Machinery Group Co. Ltd., Sany Group, JLG Industries Inc., Linamar Corporation, Changsha Zoomlion Heavy Industry Science & Technology Development Co. Ltd., Corporation, Altec Industries Inc., Manitou Group, Tadano Ltd., Haulotte Group, Zhejiang Dingli Machinery Co. Ltd., Aichi Corporation, Manitex International Inc., Niftylift Limited, Palazzani Industrie S.p.A., Teupen Maschinenbau GmbH, Dinolift Oy, Socage S.r.l., Holland Lift International BV, Leguan Lifts Oy, Platform Basket s.r.l., Falcon Lifts ApS, Galmon Equipment & Construction Company Limited, Furukawa UNIC Corporation, ASPAC Group, MEC Aerial Work Platforms, CTE S.p.A., Oil & Steel S.p.A., Denka Lift Ltd.

Which are the Top Profitable Regional Markets for the Boom Lifts Industry?
North America was the largest region in the boom lifts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global boom lifts market report during the forecast period. The regions covered in the boom lifts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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