Market Forecast By Types (Telescopic Boom Lifts, Articulating Boom Lifts, Trailer Mounted Boom Lifts, Bucket Trucks, Towable Boom Lifts), By Power Source (Engine Powered Boom Lifts, Hybrid Boom Lifts, Electric Boom Lifts), By End User (Construction Industry, Oil & Gas Industry, Mining Industry, Aerospace, Shipping and Port Building & Others), By Countries (India, China, Myanmar, South Korea, Philippines, Cambodia, Malaysia, Japan, Australia, Indonesia & Rest of the Asia Pacific) and competitive landscape
Product Code: ETC002367 | Publication Date: Apr 2020 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Report Name | Asia Pacific (APAC) Boom Lift MarketΒ |
Forecast period | 2024-2030 |
CAGR | 6% |
Growing Sector | Construction Industry |
The Asia Pacific (APAC) Boom Lift Market report diversely covers the market by types, power source, end user, and countries. The report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers that would help stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Asia Pacific (APAC) Boom Lift Market is projected to witness significant growth in the forecast period. The increasing construction and infrastructure development activities, rising demand for aerial work platforms in the industrial sector and rapid urbanisation are driving growth in the market.
According to 6Wresearch, the Asia Pacific (APAC) Boom Lift Market is expected to grow at a CAGR of 6% during the forecast period. The growth in the market is fueled by the increasing investment in infrastructure development, rising urbanization and industrialization and government initiatives for economic growth. Boom lifts offer an efficient and safe way to reach high heights, making them an essential equipment in the construction industry. The APAC region is witnessing rapid growth in construction and infrastructure development activities, particularly in countries like China, India, and Southeast Asian nations. This has led to an increased demand for boom lifts as they are essential equipment for tasks such as exterior building maintenance, bridge construction, and other elevated work.
Despite the growth opportunities in the Asia Pacific (APAC) boom lift market, there are certain challenges that could hinder its growth. The main challenge is the high initial investment required for purchasing and maintaining these equipment. Additionally, there is a lack of awareness about the benefits and usage of boom lifts among workers in the Asia Pacific region. In some countries, there is a preference for low-cost alternatives such as scaffolding over more advanced aerial work platforms like boom lifts. This can limit the market potential for boom lifts in these regions.
The leading players in the market include JLG Industries, Genie Industries, Aichi Corporation, Haulotte Group and Tadano Ltd.These companies are consistently investing in Research and Development activities to develop innovative products and expand their market reach. Currently, JLG Industries, Inc. holds the largest share in the market.
Government regulations play a significant role in shaping the boom lift market in the APAC region. Countries like China and India have stringent safety regulations that require companies to use certified equipment, including aerial work platforms, for tasks involving height access. These regulations are expected to further drive the demand for boom lifts in these countries. Moreover, governments across the APAC region are increasingly investing in infrastructure development projects, providing a favorable environment for market growth.
The Asia Pacific (APAC) Boom Lift Market has been experiencing significant growth in recent years and is expected to continue its growth trajectory in the coming years. The Asia Pacific (APAC) Boom Lift Market is expected to witness growth in the coming years due to an increasing demand for rental equipment and advancements in technology. The increasing focus on safety standards and growing adoption of advanced construction methods will continue to drive demand for boom lifts in the region. Additionally, the rise in urbanization and infrastructure development projects will also contribute to market growth. Additionally, the rise of smart construction techniques and the use of telematics for remote monitoring and maintenance are also expected to drive market growth.
According to Dhaval, Research Manager, 6Wresearch, Telescopic Boom Lifts are expected to hold the dominant share in the market in the coming years owing to their versatility and high lifting capabilities.
The Electric Boom Lift segment is expected to hold the dominant share in the market due to technological advancements in Boom Lifts.
The construction industry is expected to hold the dominant share in the market due to the ongoing infrastructure development in the region.
China is expected to register the dominant share in the market owing to extensive construction activities and high industrial growth.
The market study offers an exhaustive analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Asia Pacific Boom Lift Market Overview |
3.1 Asia Pacific Boom Lift Market Revenues and Volume, 2020-2030F |
3.2 Asia Pacific Boom Lift Market Revenue Share, By Regions, 2020 & 2030F |
3.3 Asia Pacific Boom Lift Market - Industry Life Cycle |
3.4 Asia Pacific Boom Lift Market - Porterβs Five Forces |
4. Asia Pacific Boom Lift Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. Asia Pacific Boom Lift Market Trends |
6. India Boom Lift Market Overview |
6.1 India Boom Lift Market Revenues and Volume, 2020-2030F |
6.2 India Boom Lift Market Revenues and Volume, By Types 2020-2030F |
6.3 India Boom Lift Market Revenues and Volume, By Power Source 2020-2030F |
6.4 India Boom Lift Market Revenues and Volume, By End User 2020-2030F |
7. China Boom Lift Market Overview |
7.1 China Boom Lift Market Revenues and Volume, 2020-2030F |
7.2 China Boom Lift Market Revenues and Volume, By Types 2020-2030F |
7.3 China Boom Lift Market Revenues and Volume, By Power Source 2020-2030F |
7.4 China Boom Lift Market Revenues and Volume, By End User 2020-2030F |
8. Japan Boom Lift Market Overview |
8.1 Japan Boom Lift Market Revenues and Volume, 2020-2030F |
8.2 Japan Boom Lift Market Revenues and Volume, By Types 2020-2030F |
8.3 Japan Boom Lift Market Revenues and Volume, By Power Source 2020-2030F |
8.4 Japan Boom Lift Market Revenues and Volume, By End User 2020-2030F |
9. Australia Boom Lift Market Overview |
9.1 Australia Boom Lift Market Revenues and Volume, 2020-2030F |
9.2 Australia Boom Lift Market Revenues and Volume, By Types 2020-2030F |
9.3 Australia Boom Lift Market Revenues and Volume, By Power Source 2020-2030F |
9.4 Australia Boom Lift Market Revenues and Volume, By End User 2020-2030F |
10. Malaysia Boom Lift Market Overview |
10.1 Malaysia Boom Lift Market Revenues and Volume, 2020-2030F |
10.2 Malaysia Boom Lift Market Revenues and Volume, By Types 2020-2030F |
10.3 Malaysia Boom Lift Market Revenues and Volume, By Power Source 2020-2030F |
10.4 Malaysia Boom Lift Market Revenues and Volume, By End User 2020-2030F |
11. Philippines Boom Lift Market Overview |
11.1 Philippines Boom Lift Market Revenues and Volume, 2020-2030F |
11.2 Philippines Boom Lift Market Revenues and Volume, By Types 2020-2030F |
11.3 Philippines Boom Lift Market Revenues and Volume, By power Source 2020-2030F |
11.4 Philippines Boom Lift Market Revenues and Volume, By End User 2020-2030F |
12. Indonesia Boom Lift Market Overview |
12.1 Indonesia Boom Lift Market Revenues and Volume, 2020-2030F |
12.2 Indonesia Boom Lift Market Revenues and Volume, By Types 2020-2030F |
12.3 Indonesia Boom Lift Market Revenues and Volume, By Power Source 2020-2030F |
12.4 Indonesia Boom Lift Market Revenues and Volume, By End User 2020-2030F |
13. South Korea Boom Lift Market Overview |
13.1 South Korea Boom Lift Market Revenues and Volume, 2020-2030F |
13.2 South Korea Boom Lift Market Revenues and Volume, By Types 2020-2030F |
13.3 South Korea Boom Lift Market Revenues and Volume, By Power Source 2020-2030F |
13.4 South Korea Boom Lift Market Revenues and Volume, By End User 2020-2030F |
14. Cambodia Boom Lift Market Overview |
14.1 Cambodia Boom Lift Market Revenues and Volume, 2020-2030F |
14.2 Cambodia Boom Lift Market Revenues and Volume, By Types 2020-2030F |
14.3 Cambodia Boom Lift Market Revenues and Volume, By Power Source 2020-2030F |
14.4 Cambodia Boom Lift Market Revenues and Volume, By End User 2020-2030F |
15. Myanmar Boom Lift Market Overview |
15.1 Myanmar Boom Lift Market Revenues and Volume, 2020-2030F |
15.2 Myanmar Boom Lift Market Revenues and Volume, By Types 2020-2030F |
15.3 Myanmar Boom Lift Market Revenues and Volume, By Power Source 2020-2030F |
15.4 Myanmar Boom Lift Market Revenues and Volume, By End User 2020-2030F |
16. Rest of Asia Pacific Boom Lift Market Overview |
16.1 Rest of Asia Pacific Boom Lift Market Revenues and Volume, 2020-2030F |
17. Asia Pacific Boom Lift Market Competitive Landscape |
17.1 Asia Pacific Boom Lift Market Revenue Share, By Companies, 2023 |
17.1.1 India Boom Lift Market Revenue Share, By Companies, 2023 |
17.1.2 China Boom Lift Market Revenue Share, By Companies, 2023 |
17.1.3 Japan Boom Lift Market Revenue Share, By Companies, 2023 |
17.1.4 Australia Boom Lift Market Revenue Share, By Companies, 2023 |
17.1.5 Malaysia Boom Lift Market Revenue Share, By Companies, 2023 |
17.1.6 Philippines Boom Lift Market Revenue Share, By Companies, 2023 |
17.1.7 Indonesia Boom Lift Market Revenue Share, By Companies, 2023 |
17.1.8 South Korea Boom Lift Market Revenue Share, By Companies, 2023 |
17.1.9 Cambodia Boom Lift Market Revenue Share, By Companies, 2023 |
17.1.10 Myanmar Boom Lift Market Revenue Share, By Companies, 2023 |
17.2 Asia Pacific Boom Lift Market Competitive Benchmarking, By Operating Parameters |
18. Company Profiles |
19. Key Strategic Recommendations |
20. Disclaimer |