The Global Boom Trucks Market report for by product (boom truck cranes and bucket trucks), by vehicle class (Class 4, Class 5, Class 6, Class 7 and Class 8), by application (rental, construction and utility), by geography (North America, Europe, Asia Pacific, Middle East & Africa and South America)) is expected to reach US $ 3.10 Bn by 2026, at a CAGR of 5.72 %.
An increase in the demand from end-user industries like construction, utility, and telecom is the key factor driving the global boom truck market. The rising expenditure on infrastructure in developing countries includes India, China, and Brazil is creating substantial opportunities for the market. Technical advancements and increase the production of customized boom trucks suited for specific tasks are expected to boost the productivity & efficiency of all end-user industries.
The Telecommunication sector is expected to grow at a XX % rate of CAGR during the forecast period.
The rapid expansion of the telecommunication sector across the globe is expected to ample growth opportunities for the Boom Trucks Market. The robust structure of Boom Trucks and the extensive variety of designs available make the truck a convenient option for applications in the telecommunication sector. An increase in the number of smartphones and the requirement for improved telecom infrastructure for boosted connectivity are further propelling the Boom Trucks market growth.
The Europe region is expected to hold the dominant position in the global boom trucks market.
Based on the region, the boom trucks market is segmented into the Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Among these, the Europe region is expected to grow at a XX% rate of CAGR during the forecast period. The market is experiencing significant growth. Prominent key players are focusing on safety standards, which is operating in the industry coupled with the expansion of the utility and construction industries. Energy-efficient products like electric trucks are expected to witness high adoption in Germany. The presence of major rental companies like Haulotte Group, Kiloutou, and Riwal in France is expected to drive the regional industry demand.
Key players operating in the Global Boom Trucks Market includes Load King, Manitex Inc., Manitowoc Cranes, Palfinger AG, Bronto Skylift, CTE Group SPA, Aichi Corporation, Altec Inc., Axion Lift, Tadano Ltd., Link Belt Cranes, Dur-A-Lift, Inc., Elliott Equipment Co, Henan Symmen Machinery Co., LTD., Ruthmann GmbH, Terex Corporation and Versalift.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Boom Trucks Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Boom Trucks Market positioning of competitors.
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