Key Players and Competitive Dynamics in the Lattice and Telescopic Boom Market

The lattice and telescopic boom market is on a steady growth path, driven by several important factors shaping the construction and industrial sectors. As infrastructure needs expand and new technologies emerge, this market is set to evolve significantly over the coming years. Below, we explore the market's size, key players, emerging trends, and dominant segments to provide a well-rounded view of its future.

Steady Growth Expected for Lattice and Telescopic Boom Market Size by 2030
The lattice and telescopic boom market is projected to reach a valuation of $2.27 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.1%. This upward movement is fueled by massive infrastructure projects, the rise in renewable energy developments, increased adoption of smart construction machinery, ongoing demand for more efficient lifting solutions, and growth within the modular construction space. Important trends marking this period include the expansion of high-capacity lifting equipment, a growing need for long-reach cranes, integration of telematics technology in cranes, enhanced focus on jobsite safety, and the adoption of hybrid crane systems.

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Prominent Companies Steering the Lattice and Telescopic Boom Market
The market features numerous influential players, including Kobelco 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, and Cormach Srl.
A noteworthy development took place in January 2025 when Tadano Ltd., a Japan-based crane and aerial work platform provider, completed an all-cash acquisition of Manitex International for US$ 223 million. This strategic move is aimed at broadening Tadano's lifting equipment range and accelerating its growth in global truck-crane and aerial work platform markets. Manitex International, based in the United States, is known for mobile truck cranes, specialized industrial lifting solutions, and rental offerings across infrastructure, maintenance, utility, manufacturing, and construction sectors.

Technological Advances Highlighted in Lattice and Telescopic Boom Market Trends
Industry leaders are focusing on self-leveling boom lift technology to boost operational flexibility, increase reach, and enhance efficiency across various applications in construction and industry. This technology automatically maintains the platform's level regardless of boom angle or terrain conditions, ensuring safer and more productive operation.
For example, Genie, a US aerial work platform manufacturer, launched in January 2025 the Genie S 85 XC FE hybrid and S 85 XC E electric telescopic boom lifts. These models are designed for rough terrain use in construction, industrial, and maintenance settings, offering extended reach and hybrid or electric power options. They feature an "Xtra Capacity" system allowing simultaneous lifting of personnel, tools, and materials, as well as on-platform AC power for tool operation. Advanced 4-wheel drive and oscillating axles support stable movement on uneven ground, demonstrating ongoing innovations aimed at meeting modern job site demands.

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Market Segmentation Reveals the Largest Share Belongs to Specific Crane Types
The lattice and telescopic boom market is divided into several segments across types and operations:
1) Mobile Cranes including Lattice and Telescopic Boom, Crawler, Rough Terrain, All Terrain, and Truck Loader cranes
2) Fixed Cranes comprising Industrial, Tower, and Ship to Shore cranes
3) Operation modes split into Hydraulic and Electric systems
Within these categories, subsegments detail different crane styles such as lattice boom cranes, telescopic boom cranes, and hybrid boom cranes. Other subcategories include crawler cranes with lattice or telescopic booms, various rough terrain cranes, multi-purpose all-terrain cranes, and truck-mounted cranes featuring either telescopic or lattice booms, including articulating truck loader cranes. These classifications help outline the market's diverse product offerings and applications.

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This release was published on openPR.