Boom Trucks Market – Global Industry Analysis, by Product, Vehicle Class, Application, Region and Forecast (2024-2030)

Boom Trucks Market is anticipated to reach US$ 3.40 Bn by 2030 from US$ 2.34 Bn in 2023 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.Boom Trucks MarketTo 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 2023, 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 2024 to 2030. 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: 2023 Forecast Period: 2024-2030
Historical Data: 2018 to 2023 Market Size in 2023: US $ 2.34 Bn.
Forecast Period 2024 to 2030 CAGR: 5.5% Market Size in 2030: US $ 3.40 Bn.
Segments Covered: by Product Boom trucks 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, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)

Boom Trucks Market, Key Players

1. Load King 2. Manitex Inc. 3. Manitowoc Cranes 4. Palfinger AG 5. Bronto Skylift 6. CTE Group SPA 7. Aichi Corporation 8. Altec Inc. 9. Axion Lift 10. Tadano Ltd. 11. Link Belt Cranes 12. Dur-A-Lift, Inc. 13. Elliott Equipment Co 14. Henan Symmen Machinery Co., LTD. 15. Ruthmann GmbH 16. Terex Corporation 17. Versalift 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 2.34 billion in 2023 and is projected to reach USD 3.40 billion by 2030, 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 2024 to 2030, 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.
1. Global Boom Trucks Market: Research Methodology 2. Global Boom Trucks Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Boom Trucks Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Boom Trucks Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Boom Trucks Market Segmentation 4.1 Global Boom Trucks Market, By Product (2023-2030) • Boom truck cranes 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 trucks 4.2 Global Boom Trucks Market, By Vehicle Class (2023-2030) • Class 4 • Class 5 • Class 6 • Class 7 • Class 8 4.3 Global Boom Trucks Market, By Application (2023-2030) • Rental • Construction • Utility • Telecommunication 5. North America Boom Trucks Market (2023-2030) 5.1 North American Boom Trucks Market, By Product (2023-2030) • Boom truck cranes 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 trucks 5.2 North America Boom Trucks Market, By Vehicle Class (2023-2030) • Class 4 • Class 5 • Class 6 • Class 7 • Class 8 5.3 North America Boom Trucks Market, By Application (2023-2030) • Rental • Construction • Utility • Telecommunication 5.4. North America Boom Trucks Market, by Country (2023-2030) • United States • Canada • Mexico 6. Asia Pacific Boom Trucks Market (2023-2030) 6.1. Asia Pacific Boom Trucks Market, By Product (2023-2030) 6.2. Asia Pacific Boom Trucks Market, By Vehicle Class (2023-2030) 6.3 Asia Pacific Boom Trucks Market, By Application (2023-2030) 6.4. Asia Pacific Boom Trucks Market, by Country (2023-2030) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. The Middle East and Africa Boom Trucks Market (2023-2030) 7.1. Middle East and Africa Boom Trucks Market, By Product (2023-2030) 7.2. Middle East and Africa Boom Trucks Market, By Vehicle Class (2023-2030) 7.3 Middle East and Africa Boom Trucks Market, By Application (2023-2030) 7.4. Middle East and Africa Boom Trucks Market, By Country (2023-2030) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Boom Trucks Market (2023-2030) 8.1. Latin America Boom Trucks Market, By Product (2023-2030) 8.2. Latin America Boom Trucks Market, By Vehicle Class (2023-2030) 8.3 Latin America Boom Trucks Market, By Application (2023-2030) 8.4. Latin America Boom Trucks Market, By Country (2023-2030) • Brazil • Argentina • Rest Of Latin America 9. European Boom Trucks Market (2023-2030) 9.1. European Boom Trucks Market, By Product (2023-2030) 9.2. European Boom Trucks Market, By Vehicle Class (2023-2030) 9.3 European Boom Trucks Market, By Application (2023-2030) 9.4. European Boom Trucks Market, By Country (2023-2030) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Load King 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Load King 10.3. Manitex Inc. 10.4. Manitowoc Cranes 10.5. Palfinger AG 10.6. Bronto Skylift 10.7. CTE Group SPA 10.8. Aichi Corporation 10.9. Altec Inc. 10.10. Axion Lift 10.11. Tadano Ltd. 10.12. Link Belt Cranes 10.13. Dur-A-Lift, Inc. 10.14. Elliott Equipment Co 10.15. Henan Symmen Machinery Co., LTD. 10.16. Ruthmann GmbH 10.17. Terex Corporation 10.18. Versalift 10.19. Aspen Equipment 10.20. Interlake Crane Inc. 10.21. Manitowoc 10.22. Toyota Industries Corporation
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