Boom Trucks Market Size
Market Study Report adds global Boom Trucks market report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming years.
Bucket Trucks market is projected to exceed USD 1 billion by 2024. The construction sector is witnessing growth owing to the rapid urbanization in several regions in Asia Pacific, Europe, and the Middle East & Africa, thereby propelling the demand for these trucks. Stringent government regulations focusing on fostering a healthy working environment at workplaces are compelling construction companies to incorporate technologically-advanced machines for construction activities contributing to the bucket trucks market growth. The industry is expected to witness growth with the growing demand from the energy, power, and the telecom sectors. Several government organizations are refurbishing the existing infrastructure for the overall economic development. Insulated trucks are gaining importance as they offer enhanced safety & security in jobs related to power grids.
High initial costs coupled with huge maintenance expenses are expected to hamper the bucket trucks market growth. Manufacturers use high-quality materials for the construction of bucket trucks to comply with the standards and regulations. This further increases the overall cost of trucks thereby restricting its demand from businesses that have budgetary constraints. In addition, the high maintenance cost of insulated buckets is also limiting their adoption thereby hindering the industry demand.
This report focuses on the top Manufacturers and players in global market are given bellow:-
Versalift, Socage S.R.L., Palfinger AG, Terex Corporation, CTE Group, Dur-A-Lift, Inc., Tadano Corporation and Altec Corporation
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Boom Trucks (Bucket Trucks) Market Size By Product (Class 4, Class 5, Class 6, Class 7, Class 8)
By Type (Insulated, Non-insulated)
By Application (Construction, Utility [Electric, Water], Telecommunication, Forestry)
Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa)
Growth Potential, Price Trends, Competitive Landscape & Forecast, 2018 – 2024
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Increasing demand for insulated trucks from the utility sector is anticipated to contribute to the bucket trucks market growth. These trucks are used in the utility sector for safely placing the linemen to great heights to manage, maintain, and enhance the overall electrical power distribution network. The flow of electricity into the boom can electrocute the truck operator and can even damage the equipment. The lower and upper sections of the bucket trucks are insulated using a fiberglass coating that prevents electricity from flowing into the platform.
The booming telecommunication sector globally will provide ample growth opportunities for the bucket trucks market. Several countries are trying to expand their existing telecommunication sector. The sturdy structure of bucket trucks and the wide variety of designs available make this equipment a convenient option for applications in the telecommunication sector. Increasing number of smartphones and the need for improved telecom infrastructure for enhanced connectivity are further propelling the bucket trucks market growth. Furthermore, there is a rising utilization of bucket trucks by tree-care workers to travel to the project site easily and for trimming away branches & limbs from power lines. The insulated lift in the bucket trucks provides protection and protection to workers from electrical hazards.
Europe bucket trucks market is experiencing growth with manufacturers focusing on safety standards operating in the industry coupled with the growing demand from the utility and construction industries. Energy-efficient products, such as electric trucks, will witness high adoption in Germany as end users are seeking to reduce costs. The presence of major rental companies, such as Haulotte Group, Kiloutou, and Riwal in France is anticipated to drive the regional industry demand.
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