Telescopic Booms Market Analysis & Forecast with 2020

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
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Manlift Group
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LAAS

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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

Construction
Agriculture
Mines and Quarries
Others

Global Telescopic Booms Market, by Region

North America

U.S.
Canada

Europe

Germany
France
U.K.
Italy
Spain
Rest of Europe

Asia Pacific

China
Japan
India
ASEAN
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC
South Africa
Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

Customer Experience Maps
Insights and Tools based on data-driven research
Actionable Results to meet all the business priorities
Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

North America
Asia Pacific
Europe
Latin America
The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?