Boom Lifts Market Share

Regionally, the global boom lifts market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2036 owing to increasing constructional activities and investments in existing infrastructure in emerging economies such as China and India. For instance, the Indian government intends to invest USD 1.3 trillion in infrastructure in the next five years through its 'National Infrastructure Pipeline'. The Infrastructure sector accounted for 12% of the total FDI inflows in 2021, which totaled USD 80 billion. Further, major companies in the region have been producing advanced boom lifts with higher capabilities, and demand for boom lifts in Asia Pacific region is anticipated to increase in near future, where India and China are expected to be major contributors to the growth of the global boom lifts market.