Boom Lifts Market Growth Drivers and Challenges:
Growth Drivers
- Development Of New Telecommunication Towers Worldwide- Telecom towers have played a pivotal role in advancing connectivity. The number of towers has increased by more than twofold between 2007 and 2020 with a compound annual growth rate of 7%, reaching 600,200 by 2020.
- A boom lift is the most reliable way to maintain and repair towers. Operation at height is made easier with this. Large boom arms and extendable baskets of boom lifts are the only equipment that can reach the tower's top and sides. Basic precautions and proper use of the equipment make this type of equipment absolutely safe. In addition, the construction of new telecommunication towers, skyscrapers, and their ongoing maintenance of them are some of the major factors predicted to foster the demand for boom lifts in construction.
- Surge In Number Of Projects For Smart Cities- For instance, Under India's smart city initiative, more than 2000 projects have been completed worth more than 5 billion dollars. Currently, approximately 4,500 projects worth USD 20 billion are in progress.
- Rise In The Number Of Bridges That Need To Be Replaced Or Repaired - It was observed that in the US, there are more than 590,000 bridges. A total of 590,000 bridges across the nation need to be replaced, repaired, or rehabilitated. There is a need for urgent repairs on about 7.5% of these bridges due to their poor structural integrity.
- Increasing Residential Construction Activities- For instance, there was an estimate 7% growth in residential construction in 2021. Residential construction represents 43% of total global construction in 2020, making it the biggest sub-sector and a major contributor to market growth.
- Rapidly Growing Urbanization Worldwide- Urbanization is on the rise around the world. In 2030, approximately 5 billion people will live in towns and cities, an increase of over 50% over today.
Challenges
- High Cost Associated With Boom Lifts
- Increased Interest Among End Users In Maintaining Used Machines
- Time Consuming Manufacturing Process of Machines
Boom Lifts Market Size and Forecast:
|
Base Year |
2025 |
|
Forecast Period |
2026-2035 |
|
CAGR |
5.8% |
|
Base Year Market Size (2025) |
USD 13.03 billion |
|
Forecast Year Market Size (2035) |
USD 22.9 billion |
|
Regional Scope |
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Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2026, the industry size of boom lifts is estimated at USD 13.71 billion.
The global boom lifts market size exceeded USD 13.03 billion in 2025 and is set to expand at a CAGR of over 5.8%, surpassing USD 22.9 billion revenue by 2035.
The Asia Pacific boom lifts market is expected to hold the largest share by 2035, driven by increased infrastructure investments in China and India.
Key players in the market include Terex Corporation, Genie, JLG Industries, Inc, Prangl, Sinoboom, MEC Co., Ltd., Nifty Lift, Snorkel Lif, Skyjack and Haulotte Group.
