Global Boom Angle Indicator Market to Exceed USD 386 Million By 2033 | CAGR of 6.28%
Category: Semiconductors & ElectronicsGlobal Boom Angle Indicator Market to Exceed USD 386 Million By 2033
According to a research report published by Spherical Insights & Consulting, the Global Boom Angle Indicator Market Size Expected to Grow from USD 210 Million in 2023 to USD 386 Million by 2033, at a CAGR of 6.28% during the forecast period 2023-2033.
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Browse 115 market data Tables and 45 Figures spread through 220 Pages and in-depth TOC on the "Global Boom Angle Indicator Market Size, Share, and COVID-19 Impact Analysis, By Type (Ball Type and Bubble Type), By Application (Aviation and Civil Engineering), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/boom-angle-indicator-market
Boom angle indicators are products designed to measure the angle between the boom and the platform of cranes, excavators, and other heavy equipment to ensure safe operation. This allows the driver to keep an eye on the location of his boom, reducing overloading and the associated danger of an accident. Furthermore, the boom angle indicator (BAI) market is expanding, owing to building and infrastructure expansion, particularly in emerging economies. The growing need for cranes in the construction and mining sectors, and also the rigorous safety standards necessary in those industries, and technical advancements like digital indicators and integration with fleet management, are all driving adoption. Furthermore, the boom angle indicator market offers numerous prospects for adoption, with growth expected in a variety of new industries such as renewable energy and heavy equipment services. Trends show how AI and IoT are used for predictive maintenance, better monitoring, and real-time data analytics to increase operational efficiency and safety in the construction and mining industries. However, high installation and maintenance costs may limit uptake in small-scale companies. Furthermore, a lack of awareness and training among operators, as well as compatibility difficulties with existing gear, may impede the full-scale application of such advanced systems.
The ball-type segment is expected to hold the largest share of the global boom angle indicator market during the projected timeframe.
Based on type, the global boom angle indicator market is categorized as ball type and bubble type. Among these, the ball-type segment is expected to hold the largest share of the global boom angle indicator market during the projected timeframe. This is because the ball-type indicator is extremely accurate and long-lasting, making it ideal for heavy machinery applications such as construction and mining. Many operators prefer it for its simple form, ease of use, and inexpensive cost.
The civil engineering segment is expected to grow at the fastest CAGR during the projected timeframe.
Based on the application, the global boom angle indicator market is categorized as aviation and civil engineering. Among these, the civil engineering segment is expected to grow at the fastest CAGR during the projected timeframe. This rise is driven by the increased need for cranes and heavy gear in building, infrastructure development, and mining. The use of boom angle indicators in applications requiring precise control over heavy equipment can ensure safety and efficiency, leading to widespread acceptance in the civil engineering industry.
North America is projected to hold the largest share of the global boom angle indicator market over the forecast period.
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North America is projected to hold the largest share of the global boom angle indicator market over the forecast period. This is due to the region's well-established building and infrastructure industries, increased usage of modern machinery, and stringent safety requirements. Furthermore, substantial investments in technical developments, including automation and fleet management systems, boost the demand for boom angle indicators, which is why North America is a leading market.
Asia Pacific is expected to grow at the fastest CAGR growth of the global boom angle indicator market during the forecast period. This expansion is driven mostly by rising urbanization, expanded infrastructure projects, and a surge in building activity, particularly in China and India. Furthermore, expanding regional demand for innovative construction machines, safety concerns, and increased regulatory standards drive the usage of boom angle indicators in construction, mining, and other industries.
Major vendors in the global boom angle indicator market are Caterpillar Inc., Liebherr Group, Komatsu Ltd., Terex Corporation, JLG Industries, Inc., Manitowoc Company, Inc., SANY Group, Volvo Construction Equipment, Hitachi Construction Machinery Co., Ltd., Doosan Infracore, Palfinger AG, Furukawa Rock Drill Co., Ltd., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global boom angle indicator market based on the below-mentioned segments:
Global Boom Angle Indicator Market, By Type
- Ball Type
- Bubble Type
Global Boom Angle Indicator Market, By Application
- Aviation
- Civil Engineering
Global Boom Angle Indicator Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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