Global Boom lift market: Overview
There different types of boom lifts available for construction and other industrial uses like Articulating Boom Lifts, Telescopic Boom Lifts, Straight Boom Lifts, Genie Boom lifts, Towable Boom Lifts. Boom lifts offers features like 360 degree rotatable and turntable, chassis width that provides access to congested work areas and narrow industrial aisle ways. Boom lifts allows smooth forward and backward steering and maneuvering of the machines from the work stage.
The electric boom lifts are powered by batteries which can be recharged when needed. The towable boom lifts are mostly preferred as they allow to be towed behind vehicles with class3 and class2 hitch which are ideal for rentals. The telescopic boom lifts are called as straight or stick booms lifts which are mainly used for high reach capability. The boom lifts provides greater horizontal reach they are designed for productivity, the drive speed needed to get around the work area. Articulating boom lifts provides versatility with up and out and over positing capabilities which allows to work at height, safely and quickly. Hence the demand for boom lift is expected to grow in the forecasted period.
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Global Boom lift Market: Market Dynamics
The global boom lift market is driven by growing demand for constructions across the geographies and various mega construction particularly in regions like Asia pacific. The government are making investments in development of infrastructure as well as the private sector are investing in mega constructions is driving the demand for global boom lifts.
The boom lifts are widely used in road construction, mining operations, irrigation, urban infrastructures, airports, railways, ports construction etc. The market for boom lifts is restrained due to the increase in focus of end users towards procurement of used boom lifts due to high cost of new equipment’s, end users tend to maintain the existing boom lifts and do not invest in new lifts.
Global Boom lift Market: Market segmentation
On the basis of product type, the global boom lift market is segmented into:
- Articulating Boom Lifts
- Telescopic Boom Lifts
- Straight Boom Lifts
- Genie Boom lifts
- Towable Boom Lifts
On the basis of movement type, the global boom lift market is segmented into:
- Mobile Boom Lifts
- Fixed Boom Lifts
- Marine Boom Lifts
On the basis of end use industry, the global boom lift market is segmented into:
- Construction Industry
- Mining Industry
- Oil & Gas Industry
- Shipping & Port Building
- Automotive Industry
- Aerospace
Global Boom lift Market: segmentation overview
The construction industry has higher rate of boom lift usage followed by mining industry. Mobile boom lifts are mostly preferred by end users as they can be moved from one place to another.
Global Boom lift Market: Regional overview
Based on the geographies, the global boom lift market is fragmented into seven key regions- Latin America, North America, Eastern Europe, and Western Europe, Middle East & Africa, Asia-Pacific except Japan and Japan.
Among the regions mentioned above Asia pacific is expected to have a higher growth rate owing to the increase in the construction activity where India and China are major contributor to the revenue in the region, followed by Western Europe and Japan. Eastern Europe has a sluggish growth rate for the global boom lifts market, other than Asia pacific the global boom lifts market is expected to witness a steady growth rate. Overall the global boom lifts market is expected to grow at a positive growth rate for the forecasted period.
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Global Boom lift market players
Some of the market players identified in the global boom lift market includes:
- Terex Corporation
- Tadano Ltd.
- Galmon (Singapore)
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
- Sany Heavy Industry Co., Ltd
- Altech Industries
- XCMG Construction Machinery Co., Ltd.
- KATO WORKS CO., LTD.
- Kobelco Construction Machinery Co., Ltd.
- FURUKAWA UNIC CORPORATION
- Columbus McKinnon Corporation