Boom Trucks Market – Global Industry Analysis, by Product, Vehicle Class, Application, Region and Forecast (2023-2029)

Boom Trucks Market is anticipated to reach US$ 3.23 Bn by 2029 from US$ 2.22 Bn in 2022 at a CAGR of 5.5 % during a forecast period.

In logistics, maintenance, and construction, a boom truck is a vehicle fitted with telescopic boom crane equipment used to hoist freight or personnel. Boom trucks may be used to transport and manage freight or loads as needed. Different OEMs often build the truck body and crane equipment, resulting in long-term collaborations and memorandums of understanding. Lifting capabilities, lifting reach, payload & hauling capacity, and application are all features of these boom trucks. They've found a use for them in many circumstances, including lifting people for high-rise structural and building inspections, pumping concrete, and loading and unloading freight from warehouses and other trucks.To know about the Research Methodology :- Request Free Sample Report
Boom Trucks Market Dynamics
Boom trucks are growing in popularity because of rising government and private sector building investment worldwide. Because of its capacity to elevate personnel efficiently and safely, demand for these vehicles is growing in the industrial, construction, and utility sectors. The need for efficient infrastructure, buildings, and residences will increase as the world population grows and urbanization accelerates. The adoption of the truck crane market is being aided by rising infrastructure and industrial renovation projects and the rapid growth of smart cities throughout the world.

The fast expansion of the utility and telecom sectors in various countries, including the United States, India, and China, has created a tremendous demand for this equipment, helping the market expand. The shortage of competent and trained operators in numerous countries has impeded the market for truck-mounted cranes, limiting their use and raising the price of procurement and training for contractors. Due to the high initial cost of boom trucks, there is a growing need for equipment leasing services.

Boom Trucks are in high demand because of the growing popularity of rental equipment. Boom trucks are available for hire and may be utilized to deliver project deliverables as needed. This is intended to reduce the cost of leasing a new truck. Rental equipment is becoming increasingly common since it offers several benefits. Boom trucks that are rented can save money in various ways, including insurance and government equipment licensing. Additionally, worldwide and local rental service providers offer customer-specific solutions that include critical lifting capabilities, working heights, and accessories.
Boom Trucks Market Segmentation Analysis
By Product, The market for bucket trucks was estimated to be over 50% in 2022, and the increasing use of these trucks in the telecommunication industry for applications such as data cable installation and maintenance, TV cable installation and maintenance, and telephone cable installation and maintenance is contributing to the market's growth. Branches are also trimmed away from highway signs, power wires, and rooftops using these vehicles. When pruning branches near power lines, workers are protected from potentially harmful high-voltage wires by using specially insulated bucket truck models. Also, the farming industry is seeing an increase in demand for these items to securely and effectively pick fruits from the tallest branches of trees.

By Vehicle Class, Because of their improved fuel efficiency and lower operating costs, demand for class 4 and 5 truck cranes is growing. The deployment of this equipment, which has high torque and power capabilities and innovative control systems throughout construction and communications sites, is helping to propel the segment forward. The class 4 and 5 versions offer improved operability and dependability due to their increased weight-bearing capacities and safety measures. Light-duty bucket trucks are frequently employed in firefighting operations to evacuate people in the event of a fire. These trucks are also utilized on building sites to deliver lightweight construction materials and equipment.
Boom Trucks Market Regional Insight

Thanks to a rising real estate sector and increased government and private sector infrastructure spending, the European boom tracks market will grow at a CAGR of over 5% from 2022 to 2029. The increasing usage of efficient and dependable lifting equipment in utility, telecommunications, and construction applications is also helping drive the market forward. In European countries, several worker and equipment safety standards exist, leading to technologically advanced machinery that ensures a safe working environment. The North American market is predicted to increase substantially because of the expansion of the construction and utility industries. Multiple boom truck manufacturers, such as Altec Inc., Manitowoc Cranes, Manitex International, Inc., and Versalift, operate in the United States, which is a crucial contributor.

Report Objectives:

• Landscape analysis of the Boom Trucks Market
• competitive benchmarking
• Past and current status of the industry with the forecasted market size and trends
• Evaluation of potential key players that include market leaders, followers, and new entrants
• Technology trends
• The potential impact of micro-economic factors on the market
• External and Internal factors affecting the market have been analyzed

The report also helps in understanding the Boom Trucks Market dynamics, structure by analysing the market segments project the Boom Trucks Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Boom Trucks Market make the report investor’s guide.
Boom Trucks Market Scope: Inquiry Before Buying



Global Boom Trucks Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 2.22 Bn.


Forecast Period 2023 to 2029 CAGR:
5.5%
Market Size in 2029:
US $ 3.23 Bn.


 Segments Covered:
by Product
•  Boom trucks
o Below 10 Metric Tons
o 10 to 20 Metric Tons
o 20 to 30 Metric Tons
o 30 to 40 Metric Tons
o 40 to Metric Tons
o Above 50 Metric Tons
• Bucket truck


by Vehicle Class
• Class 4
• Class 5
• Class 6
• Class 7
• Class 8


by Application
• Rental
• Construction
• Utility
• Telecommunication



Boom Trucks Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Boom Trucks Market Key Players
• 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
• Versalift
• Aspen Equipment
• Interlake Crane Inc.
• Manitowoc
• Toyota Industries Corporation

Frequently Asked Questions

1. What is the projected market size & growth rate of the Boom Trucks Market?
Ans- Boom Trucks Market was valued at USD 2.22 billion in 2022 and is projected to reach USD 3.23 billion by 2029, growing at a CAGR of 5.5 % during the forecast period.

2. What are the key driving factors for the growth of the Boom Trucks Market?
Ans- Boom trucks are growing in popularity because of rising government and private sector building investment across the world.

3. Which Region accounted for the largest Boom Trucks Market share?
Ans- the European boom tracks market will grow at a CAGR of over 5% from 2023 to 2029, thanks to a rising real estate sector and increased government and private sector infrastructure spending.

4. What makes the Europe a Lucrative Market for Boom Trucks Market?
Ans- The increasing usage of efficient and dependable lifting equipment in utility, telecommunications, and construction applications is also helping to drive the market forward.

5. What are the top players operating in Boom Trucks Market?
Ans- Load King, Manitex Inc., Manitowoc Cranes, Palfinger AG, Bronto Skylift, and CTE Group SPA