Boom Lifts Market Research Report By Type (Scissor Lifts, Articulating Boom Lifts, Telescopic Boom Lifts, Vertical Mast Lifts), By Application (Construction, Industrial, Utilities, Transportation), By End-User (Rental Companies, Contractors, Manufacturing Facilities), By Power Source (Electric, Diesel, Hybrid), By Payload Capacity (Below 500 lbs, 500-1,000 lbs, 1,000-2,000 lbs, Over 2,000 lbs) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Global Boom Lifts Market Overview

The Boom Lifts Market Size was estimated at 6.94 (USD Billion) in 2022. The Boom Lifts Industry is expected to grow from 7.36 (USD Billion) in 2023 to 12.6 (USD Billion) by 2032. The Boom Lifts Market CAGR (growth rate) is expected to be around 6.15% during the forecast period (2024 - 2032).

Key Boom Lifts Market Trends Highlighted

The Global Boom Lift Market is poised for steady growth owing to the increasing demand from various end-use industries, such as construction, telecommunications, and manufacturing. The rise in infrastructure development, commercial construction, and maintenance activities is propelling the market's growth. Furthermore, the adoption of advanced technologies like telematics and automation is enhancing operational efficiency and safety, boosting market demand.Key drivers of the Boom Lifts Market include the increasing need for efficient and safe equipment for working at heights, the growing emphasis on worker safety, and the adoption of stringent regulations governing workplace safety.

The market is also driven by the rising demand for booms with greater working heights and load capacities, as well as the growing popularity of electric and hybrid models due to their environmental friendliness and reduced noise levels.Opportunities for growth in the Boom Lifts Market lie in the expansion of emerging economies, the increasing adoption of rental models, and the growing demand for specialized booms for specific applications such as offshore wind farm construction and mining. The integration of IoT and advanced sensors is also creating new opportunities for data-driven insights and predictive maintenance, further driving the market's growth.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Boom Lifts Market Drivers

Increased Construction Activities Driving Boom Lift Market Growth

The construction industry is one of the main factors fueling the global boom lift market. The number of construction projects around the world, especially in developing countries, is constantly growing, creating the demand for additional equipment. Boom lifts are indispensable in many construction works: they are used for transporting workers and materials to great heights, installing and maintaining equipment, and many other purposes. Moreover, the construction industry is expected to grow further in the coming years: the global shift toward urbanization, infrastructure development, and growth of commercial buildings will increase demand for boom lifts.Another reason for the growing demand for boom lifts is the increasing adoption of new technologies and green practices in the construction industry.

This shift is creating new opportunities for boom lift manufacturers to develop new products. The advancements in boom lift manufacturing are driven by the changing needs of the construction industry. For example, safety concerns play a critically important role in the industry, which is reflected in the increasing demand for safety features in boom lifts.The variety of boom lifts on the market is constantly expanding, and the most advanced models offer a range of cutting-edge safety features, such as anti-collision systems and remote control. Environmental concerns are another major driver of the innovations in this sector.

Green practices are becoming highly popular, which means that the demand for new boom lifts with low-emission engines and alternative fuels is growing. Meanwhile, offsite construction and modular building methods are increasingly popular in the construction industry.In this case, boom lifts are also required, as they are used for lifting and assembling prefabricated construction components. The increased popularity of equipment rental services also contributes to the growth of the boom lift market. Thus, the growing construction industry and the new technologies are some of the main factors fueling the global boom lift market.

Advancements in Technology Enhancing Boom Lift Capabilities

Technological advancements are one of the major factors driving the development of the global boom lift market. Manufacturers keep investing in research and development to improve the capabilities of boom lifts or make them even safer. In particular, it is important to note the influence of new technologies that change the way different machines are used and maintained. Telematics systems that provide real-time data on the performance of boom lifts, as well as their location or usage, are quite popular at the moment.Telematics systems can help construction companies improve their fleet management and enhance boom lift safety and performance. Remote diagnostics systems can help manufacturers to identify the problems of their boom lift and resolve them remotely to ensure that the equipment can be used effectively.

Virtual reality is also used in the training to improve the proficiency of boom lift operators. In addition, the safety of boom lifts is improved with the help of advanced sensors and control systems.For instance, boom lifts may be equipped with an anti-collision system that shares information about existing obstacles and automatically stops the machine. Load-sensing system can be quoted as another example as it prevents the boom lifts from carrying more than they are allowed. Finally, it is important to mention that electric and hybrid boom lifts also increase the safety of the equipment while improving other features of the boom lifts. They are considered to be environmentally friendly and are becoming the equipment of choice.Thus, it is possible to conclude that the development of the boom lifts with new and improved capabilities promotes the growth of the global boom lift market.

Growing Demand for Rental Services Expanding Boom Lift Market Reach

The rental market plays a crucial role in the growth of the global boom lift market. Rental companies provide construction firms an opportunity to access a number of boom lifts ranging from small electric lifts to large diesel-powered machines in Karnad. Many construction firms in both developed and emerging markets prefer renting boom lifts to buying them. Some of the main reasons construction firms prefer renting such machines include flexibility, cost, and access to some of the latest pieces of equipment.Renting services are increasingly becoming popular in emerging markets because most construction firms do not have the capital to buy and maintain a large fleet. The availability of rental services gives construction firms an opportunity to rent boom lifts as and when they are needed for as long as they are required.

This rental arrangement allows the renting firms to optimize the cost of equipment depending on the specific needs of a given project.It also spares the construction firms the number of expenses and behaviors associated with ownership, such as maintenance and storage. The growth of the rental market is further driven by the growing demand for special types of boom lifts needed in construction projects. However, some of these specialized kinds of equipment may be too expensive for some construction firms to buy Karnad. Renting companies offer a wide range of boom lifts making it possible for construction firms to rent such machines for specific tasks requiring specific types of boom lifts.Overall, construction firms benefit from renting boom lifts, and increasingly, more construction firms are renting the same. Rental companies react to the increasing demand for such services by providing a wide range of specialized equipment that firms need for their projects.

Boom Lifts Market Segment Insights:

Boom Lifts Market Type Insights

The Boom Lifts Market is segmented by Type into Scissor Lifts, Articulating Boom Lifts, Telescopic Boom Lifts, and Vertical Mast Lifts. Scissor lifts are expected to hold the largest market share in 2023, owing to their wide range of applications in construction, maintenance, and other industries. Articulating boom lifts are projected to witness the highest CAGR during the forecast period due to their increasing adoption in construction and industrial applications. Telescopic boom lifts are anticipated to account for a significant market share, as they offer greater reach and flexibility compared to other types of boom lifts.Vertical mast lifts are expected to hold a steady market share, primarily driven by their use in indoor and outdoor maintenance applications. Overall, the Boom Lifts Market is expected to witness significant growth over the forecast period, driven by increasing construction activities and rising demand for efficient and safe access equipment.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Boom Lifts Market Application Insights

The most significant part of the Boom Lifts Market revenue, segmentation, data, statistics, and industry is the application segment. As of 2023, the construction sector is the dominant application, representing nearly 55%. The demand for these devices is increasing because construction works are mostly carried out in developing countries where most infrastructure development is done. Another significant part is the industrial application, which is about 25%. Here, the boom lifts are widely used in various manufacturing operations as well as warehousing and mining facilities.They assist businesses in carrying out tasks that fall under maintenance, inspection, or repair works. Utilities is another applicable segment, and about 12% of the devices are used in this field. Electric companies utilize them to make sure that power lines are properly maintained and that when trees or branches are trimmed, those who do it are safe. For the methods of removing the panel and loading and unloading aircraft, transportation companies use them. The implementation of these devices in their specific applications increases their growth.

Boom Lifts Market End-User Insights

The Boom Lifts Market segmentation by End-User comprises Rental Companies, Contractors, and Manufacturing Facilities. Among these, Rental Companies dominate the market, capturing over 55% of the Boom Lifts Market revenue in 2023. This dominance is attributed to the increasing demand for flexible and cost-effective equipment rental solutions, allowing end-users to access the latest boom lifts without the burden of ownership costs. Contractors are another significant segment, accounting for approximately 30% of the market share, driven by the rising construction activities worldwide.Manufacturing Facilities hold the remaining market share, utilizing boom lifts for various maintenance and production tasks. The Boom Lifts Market is projected to maintain this segmentation trend, with Rental Companies continuing to lead the market growth due to ongoing infrastructure development and urbanization.

Boom Lifts Market Power Source Insights

The Boom Lifts Market is segmented based on power source into electric, diesel, and hybrid. Among these, the electric segment is expected to witness significant growth during the forecast period. Electric boom lifts are gaining popularity due to their low operating costs, reduced emissions, and increased efficiency. The growing demand for environmentally friendly equipment in various industries is driving the growth of the electric boom lifts market. Moreover, government regulations promoting the adoption of electric vehicles and equipment are further fueling the growth of this segment.In 2023, the electric boom lifts segment accounted for approximately 35% of the Boom Lifts Market revenue and is projected to reach $4.2 billion by 2024.

Boom Lifts Market Payload Capacity Insights

The Boom Lifts Market segmentation by Payload Capacity offers valuable insights into the industry's dynamics. In 2023, the 'Below 500 lbs' segment held the largest market share, accounting for nearly 35% of the revenue. This segment is expected to continue its dominance over the forecast period, driven by the increasing demand for compact and lightweight boom lifts for indoor applications and maintenance tasks. The '500-1,000 lbs' segment is projected to witness steady growth, owing to its versatility and suitability for a wide range of applications in the construction, industrial, and maintenance sectors.The '1,000-2,000 lbs' segment is anticipated to grow at a moderate pace, primarily due to its use in heavy-duty applications, such as infrastructure projects and large-scale construction sites. The 'Over 2,000 lbs' segment is expected to gain traction in the coming years, driven by the growing demand for high-capacity boom lifts for specialized applications in industries such as mining, oil and gas, and wind energy.

Boom Lifts Market Regional Insights

The Boom Lifts Market segmentation by region reveals distinct market dynamics across various regions. North America holds a significant market share, driven by the presence of major players and favorable construction activities. Europe follows closely, with a strong demand for boom lifts in infrastructure development and industrial applications. APAC region is anticipated to witness substantial growth in the market due to rapid urbanization and increasing investments in construction projects. South America and MEA regions are also expected to contribute to the overall market growth, driven by growing infrastructure and industrialization efforts.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Boom Lifts Market Key Players And Competitive Insights:

In the face of the Boom Lifts Market’s rapid growth and innovation, major market players are always looking for ways to become more competitive. They do it either by expanding their products’ capabilities and design or by expanding their market reach. As a result, the players invest substantial money in the research and development of new boom lifts. The differentiation of their products in this rapidly growing industry underpins the competitive nature of the Boom Lifts Market. Therefore, the market’s leading players try to use an array of strategies, such as partnerships, acquisitions, and mergers.
On the one hand, these strategies enable market leaders to retain their positions and add new types of boom lifts to their product lines. On the other hand, the leading players can leverage their investment in research and development to promote the development of customized boom lifts that meet specific industry requirements. In addition, the players identify and incorporate technological advances, such as telematics and remote monitoring.

The use of these technologies leads to real-time tracking of boom lifts, timely maintenance, and lift efficiency. Furthermore, for the sake of a growing market focus on sustainability, several companies have developed electric and hybrid boom lifts.One of the leading players in the Boom Lifts Market is JLG Industries, Inc. The company is a major manufacturer of aerial work platforms. JLG’s product range of boom lifts includes scissor lifts, telehandlers, and vertical mast lifts. One of the most significant features that allow JLG to become and remain one of the leading market players is its product innovation. The company continuously introduces new boom lifts to the market and reinforces its existing product line.

For the sake of superior quality, the company implements strict safety controls, making JLG one of the most recognizable names in the Boom Lifts Market.The Boom Lifts Market also includes such an important player as Genie Industries. The company is a “subsidiary of the Terex Corporation” and one of the world’s largest producers of access equipment. Genie offers boom lifts, such as articulating booms, telescopic booms, and scissor lifts, and provides a complex solution to meet the customers’ needs.

The company is headquartered in Washington State and has manufacturing facilities in the United States, Europe, Australia, and China. The company highlights its robust support and customer-focused product development as one of the key competitive gains. This approach resulted in the industry recognizing Genie’s product as reliable and environmentally sustainable. In addition to the development of electric and hybrid boom lifts, the company continues to expand its product line and global market presence.

Key Companies in the Boom Lifts Market Include:

• Ruthmann


• PB Lifts


• Skyjack


• Haulotte


• Snorkel


• UpRight


• Terex Corporation


• Manitou Group


• Aichi Corporation


• CTE


• JLG Industries


• Hinowa


• Niftylift


• Zoomlion


• Genie Industries

Boom Lifts Market Industry Developments

The Boom Lifts Market is projected to reach USD 12.6 billion by 2032, exhibiting a CAGR of 6.15% during the forecast period (2024-2032). Growth in the construction industry, particularly in emerging economies, is driving demand for boom lifts. The increasing adoption of aerial work platforms in various industries, including manufacturing, warehousing, and mining, is also contributing to market expansion. Technological advancements, such as the integration of telematics and IoT devices, are enhancing the efficiency and safety of boom lifts, further fueling market growth. Recent news developments include JLG Industries' launch of a new line of electric boom lifts and Genie's introduction of a hybrid boom lift with extended runtime. These innovations are expected to shape the future of the boom lifts market.

Boom Lifts Market Segmentation Insights

Boom Lifts Market Type Outlook

• Scissor Lifts


• Articulating Boom Lifts


• Telescopic Boom Lifts


• Vertical Mast Lifts

Boom Lifts Market Application Outlook

• Construction


• Industrial


• Utilities


• Transportation

Boom Lifts Market End-User Outlook

• Rental Companies


• Contractors


• Manufacturing Facilities

Boom Lifts Market Power Source Outlook

• Electric


• Diesel


• Hybrid

Boom Lifts Market Payload Capacity Outlook

• Below 500 lbs


• 500-1,000 lbs


• 1,000-2,000 lbs


• Over 2,000 lbs

Boom Lifts Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa