Telescopic Booms Market: Introduction
- Telescopic booms offer aerial work platforms wherein the boom sections extend telescopically. Telescopic booms are also known as ‘stick’ booms, attributed to their straight, stick-like appearance.
- Telescopic booms provide greater horizontal outreach, as compared to that offered by any other type of aerial platform. This, in turn is anticipated to fuel the demand for telescopic booms and consequently, drive the market.
Key drivers of Telescopic Booms Market
- Rapid economic developments across the globe in terms of road and infrastructure development are anticipated to drive the global telescopic booms market. For instance, smart city projects initiated by the Government of India to improve connectivity between rural and urban areas are propelling road infrastructure development consistently. Telescopic booms offer aerial platform for areas with limited access in construction, road building, and bridge work. This, in turn, is anticipated to boost the global telescopic booms market.
- Rapid expansion of the logistics industry is likely to increase preference toward warehouses. Telescopic booms are required for in house maintenance jobs such as painting and inspection applications in warehouses, which in turn is driving the global telescopic booms market.
- Increase in demand for equipment that provide aerial work platform in rugged and remote worksite is expected to drive the global telescopic booms market. For instance, Terex Corporation has launched a telescopic boom under the brand ‘Genei’. It is enabled with four-wheel drive (4WD) and active oscillating axles to enhance productivity by offering a combination of maximum height and outreach at rugged and unimproved worksite with maximum terrainability and traction.
- Most developed and developing countries are enacting stringent regulations regarding vehicle emissions, which are likely to prompt players in the telescopic booms market to adopt alternate fuel technology such as electric propulsion systems. For instance, CAFÉ regulations, heavy-duty vehicles regulations enacted in Europe and the U.S. are mandating telescopic boom players to enhance fuel-efficiency of their vehicles. This, in turn, is anticipated to offer significant opportunity to players engaged in the development and production of electric telescopic booms, thereby driving the global telescopic booms market.
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Asia Pacific to hold prominent share of global telescopic booms market
- In terms of region, the global telescopic booms market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific has presence of robust expanding economies including China, Japan, India, and South Korea. Expansion of the e-commerce industry coupled with the presence of well-established supply chain network catering to the shipbuilding industry, automobile production, and heavy machinery manufacturing is boosting the demand for heavy-duty vehicles for material handling and cargo transportation. This has led Asia Pacific to account for a prominent share of the global telescopic booms market.
- However, the imposition of lockdown across the globe owing to the coronavirus pandemic is estimated to hamper the global telescopic booms market in 2020
Key Players Operating in Telescopic Booms Market
The global telescopic booms market is highly concentrated due to the owing of top manufacturers. A few key players operating in the global telescopic booms market are:
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- JLG Industries
- Manlift Group
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Global Telescopic Booms Market: Research Scope
Global Telescopic Booms Market, by Product Type
- High Reach Telescopic Booms
- Heavy Lift Telescopic Booms
Global Telescopic Booms Market, by End-use Industry
- Mines and Quarries
Global Telescopic Booms Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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The following regional segments are covered comprehensively:
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4. Which regions might see the demand maturing in certain segments in near future?
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