Growing Demand For Construction Driving Lattice And Telescopic Boom Market Expansion: Strategic Insights Driving Lattice And Telescopic Boom Market Momentum in 2025

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How Large Will the Lattice And Telescopic Boom Market Size By 2025?
In the past few years, there has been a consistent increase in the scale of the lattice and telescopic boom market. This growth is expected to continue, with market projections expecting an increase from $1.89 billion in 2024 to $1.94 billion in 2025, a compound annual growth rate (CAGR) of 2.6%. The historical growth pattern can be traced back to factors such as urbanization, an increase in infrastructure developmental initiatives, growth in renewable energy projects, amplified investments in the mining and extraction sector, and an expanding oil and gas industry.

How Big Is the Lattice And Telescopic Boom Market Size Expected to Grow by 2029?
In the coming years, the market size for lattice and telescopic boom is expected to witness consistent growth, reaching a value of $2.21 billion in 2029, growing at a compound annual growth rate (CAGR) of 3.3%. The predicted growth in this period can be credited to factors such as an expansion in the shipbuilding and marine industries, an increasing focus on safety and efficiency in the workplace, sector growth in logistics and warehousing, an increase in rental rates for heavy machinery, and governmental investments in public infrastructure. Some of the significant trends that will be seen in this forecast period include the use of lightweight materials, improvement in sensor technology for real-time monitoring, development of autonomous functionalities, the introduction of remote operation features, and the adoption of electric and hybrid power systems.

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Which Key Market Drivers Powering Lattice And Telescopic Boom Market Expansion and Growth?
The ongoing upsurge in construction requirements is likely to stimulate the growth trend of the lattice and telescopic boom market in the future. Around the facets of infrastructure development, building, and upkeep lies the vast array of operations carried out in the construction industry. These operations span new construction to the remodeling, repairing, and razing of existing structures. The performance of lattice and telescopic boom is essential to the construction industry due to their extended reach, operational adaptability and, effectiveness in demanding construction site conditions. For example, the Office for National Statistics (ONS), a department in the UK not bound to a minister, reported in November 2023 that there was a year-on-year growth of 11.4% in new construction orders in 2022 compared to 2021, reaching a record high of £80.837 billion ($102.16 billion). This spike was instigated by the signing of private infrastructure, private commercial projects, and other public non-residential sectors, which observed expansion rates of 85.1%, 10.2%, and 17.5% respectively. Consequently, the accelerating need for construction is set to fuel the lattice and telescopic boom market.

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What Are the Key Trends Driving Lattice And Telescopic Boom Market Growth?
Key players within the lattice and telescopic boom industry are leveraging self-leveling boom lift technology to boost adaptability, broaden reach, and heighten productivity across diverse construction and industrial applications. Self-leveling boom lift technology is an advanced component found in boom lifts (also referred to as aerial work platforms or cherry pickers) that autonomously maintains the levelness of the work platform, despite the positioning of the boom or the ruggedness of the terrain the machine works on. For example, JLG Industries Inc., a manufacturer based in the US, introduced the JLG 670SJ self-leveling boom lift technology for telescopic boom forklifts in November 2022. The JLG 670SJ self-leveling boom lift is a diesel-powered telescopic boom lift tailored for construction, maintenance, and industrial operations. This unique system autonomously modifies the platform's position to retain a level working surface, even while working on irregular terrain, thus providing enhanced safety and productivity features that assist operators to work more effectively. The system utilizes sensors to register variations in the boom's angle and reposition the platform accordingly. These sensors are stationed at the base of the boom from where they transmit signals to the lift's hydraulic system.

What Are the Emerging Segments in the Lattice And Telescopic Boom Market?
The lattice and telescopic boommarket 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

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Who Are the Global Leaders in the Lattice And Telescopic Boom Market?
Major companies operating in the lattice and telescopic boom market are Kobleco Kobe Steel, The Liebherr Group, Sumitomo Heavy Industries Ltd., Ingersoll Rand Inc., T 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 are the Top Profitable Regional Markets for the Lattice And Telescopic Boom Industry?
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.

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