Telescopic Boom Lift Market, by Product Type (Electric drive and Fuel-driven), by End User (Construction Industry, Telecommunication, Aerospace, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Telescopic boom lift are known as an aerial work platform. Telescopic boom lift is primarily used for jobs that require extended reach with maximum range and can move its axel 360 degrees. Telescopic boom lift can travel automatically during aerial operation with maximum work height between 40 and 80 feet. Features of telescopic boom such as active oscillating axel system, dual fuel or diesel engine options, 360-degree continuous turntable rotation, platform rotators, out-and-up articulating jib options, powerful in driving force and large in load capacity and others are increasing its adoption among end users.

Rising Construction of skyscrapers driving growth of the telescopic boom lift market

The gradual increase in number of people living in urban areas has resulted in the building of skyscrapers, which led to rise in demand for telescopic boom lift. These lifts have gained popularity in the construction of skyscrapers due to their compact nature and ease of handling and accessibility. Telescopic boom lift is ideal choice for constructing skyscrapers where telescopic boom lift is used to lift workers, tools and materials to reach extended heights to complete work requirement. For instance, according to Coherent Market Insights, in 2017, the total number of 200-meter-plus buildings around the world reached to 1,319, which increased by 12.3% from 2016.

High Price of telescopic boom lift is hindering the market growth

End users of telescopic boom lift prefer to maintain the exiting boom lifts and do not invest in new machines due to their high cost. Furthermore, due to the high cost of telescopic boom lift, end users prefer renting telescopic boom lift instead of purchasing one. Renting telescopic boom lift is more economical choice, as renting offers lower maintenance and also flexibility for users to access a full fleet of machinery, rather than limiting to one model.  Hence, high price of telescopic boom lift is hindering the market growth.

Global Telescopic Boom Lift: Regional Insights  

The global telescopic boom lift market is driven by growing demand for construction across the region especially in Asia Pacific. The government is investing in the development of infrastructure as well as private sector for investing in mega constructions is driving the global telescopic boom lifts market growth. The telescopic boom lifts are widely used in road construction, mining operations, airports, ports construction, and others. According to India Brand Equity Foundation (IBEF), in 2016, construction equipment industry revenue in India was US$ 3billion. Whereas, volume sale of construction equipment is growing by 96,730 units in 2018 from 76,000 units in 2016.

Global Telescopic Boom Lift: Competitive Landscape

Some of the key players operating in the global telescopic boom lift include Terex Corporation, JLG, Prangl, Hunan Sinoboom Heavy Industry Co., Ltd., MEC, Niftylift (UK) Limited, Tadano Ltd., Kato Works Co., Ltd., Aichi Corporation, and Haulotte Group.

Global Telescopic Boom Lift Market: Taxonomy

  • On the Basis of Product Type
    • Electric drive
    • Fuel-driven
  • On Basis of End User
    • Construction Industry
    • Telecommunication
    • Aerospace
    • Others
  • On the Basis of Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East
    • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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