Boom Trucks Market Size, By Product (Boom Truck Crane [Below 10 Metric Tons, 10 to 20 Metric Tons, 20 to 30 Metric Tons, 30 to 40 Metric Tons, 40 to Metric Tons, Above 50 Metric Tons], Bucket Truck), By Vehicle Class (Class 4, Class 5, Class 6, Class 7, Class 8), By Application (Rental, Construction, Utility), Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecas
Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationBoom Trucks Market Size, By Product (Boom Truck Crane [Below 10 Metric Tons, 10 to 20 Metric Tons, 20 to 30 Metric Tons, 30 to 40 Metric Tons, 40 to Metric Tons, Above 50 Metric Tons], Bucket Truck), By Vehicle Class (Class 4, Class 5, Class 6, Class 7, Class 8), By Application (Rental, Construction, Utility), Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecas
Boom Trucks Market Size
Boom Trucks Market size was valued at over USD 2 billion in 2018 and is expected to grow at over 5.5% CAGR from 2019 to 2025.
To get key market trends
The increasing government & private sector construction spending across the globe is driving the boom trucks market growth. The demand for these trucks is increasing in the industrial, construction, and utility sectors due to their ability to lift workers efficiently and safely. The increasing global population coupled with rapid urbanization will create the demand for efficient infrastructure facilities, building, and residencies. The growing infrastructure & industrial refurbishment projects and the rapid expansion of smart cities across the globe are supporting the adoption of truck crane market.
The rapid growth of utility and telecom industries in several countries including the U.S., India, and China is creating a huge demand for these machines, supporting the industry expansion. The truck-mounted cranes market is hampered by the lack of availability of skilled & trained operators in several countries, limiting the utilization of these machines and increasing the procurement & training costs for contractors. The high initial cost of the boom trucks is leading toward the increasing demand for equipment rental services.
| Report Attribute | Details |
|---|---|
| Base Year | 2018 |
| Boom Trucks Market Size in 2018 | 2 Billion (USD) |
| Forecast Period | 2019 to 2025 |
| Forecast Period 2019 to 2025 CAGR | 5.5% |
| 2025 Value Projection | 3.5 Billion (USD) |
| Historical Data for | 2014 to 2018 |
| No. of Pages | 180 |
| Tables, Charts & Figures | 231 |
| Segments covered | Product, Application, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Boom Trucks Market Analysis
Back in 2018, the demand for bucket trucks was skyrocketing, with over half of the market being occupied by these handy machines. And guess what? They're still on the rise, especially in the bustling telecommunications industry. Why the love for bucket trucks in telecom? Simple. They're the go-to guys for installing and fixing your data, TV, and phone cables. Plus, they've become indispensable for slicing errant branches away from highway signs, power lines, and even your own roof. And get thiswhen it comes to trimming trees near power lines, these trucks don their special "insulated" capes to keep workers out of harm's way from those dangerous high-voltage wires. But that's not all. Bucket trucks are also making a splash in the farming world, where they're used to pluck ripe fruits from the highest branches, saving farmers time and effort.
Manufacturing companies are currently developing smaller utility vehicles with increased working heights & maximum lifting capacity to offer reliable performance to the customers. Companies in the industry are also developing products with lower carbon footprints to reduce harmful environmental impacts. For instance, in June 2018, Manitowoc Cranes announced the launch of its new TMS500-2 truck crane, with the maximum lifting capacity of 40 tons. The equipment can be integrated with an optional 26 to 45 ft telescoping swing jib for additional reach.
Learn more about the key segments shaping this market
Hey there! Construction and telecom companies are super excited about these class 4 and class 5 truck cranes. Why? Because they're not only fuel-friendly but also easy on the wallet to operate. These awesome machines pack a punch with their high power and control systems, making them perfect for tackling tough jobsites. And get thisthese cranes can handle heavy loads like champs, so they're the go-to choice for getting big stuff where it needs to go. Plus, they've got top-notch safety features that give operators peace of mind. Oh, and let's not forget light-duty bucket trucks. These heroes save the day in emergencies by rescuing people from tall buildings. They're also handy for moving construction materials and equipment around. So there you have it! These amazing truck cranes and bucket trucks are making life easier and safer in construction, telecommunications, and fire safety.
Picture thisyou're a construction manager with a towering skyscraper or sprawling bridge in your sights. How on earth will you lift those massive steel beams or concrete pillars? That's where truck-mounted cranes come in, like mighty giants in the construction world. These cranes are the backbone of building these towering structures, hauling heavy loads with ease. They're a lifesaver for construction companies, saving time and headaches. But here's the catchbuying and maintaining cranes can put a big dent in your budget. Enter equipment rental, a game-changer in the construction industry. By renting a truck-mounted crane, you can skip the hefty downpayment and avoid the constant repairs that come with owning one. And let's not forget the time and money you'll save by not having to deal with insurance and government hoops. Rental companies listen to your needs and provide cranes with the right lifting power, reach, and accessories to get the job done. And to top it off, they'll often send experienced operators along with the crane, ensuring safety on your construction site. With the construction boom in North America and Asia Pacific, the demand for rental cranes is skyrocketing, fueling the growth of this industry. So, if you're a construction manager looking to build your next colossal masterpiece, don't hesitate to tap into the power of rental truck-mounted cranes. They'll make your life a whole lot easier and your projects soar to new heights.
Learn more about the key segments shaping this market
Hey there! So, there's this market for boom trucks in Europe, right? It's been doing really well, and it's projected to grow by over 5% every year from now until 2025. Why? Well, it's a combination of things. First off, the real estate market in Europe is booming, so there's a lot of construction going on. And when you have construction, you need boom trucks to lift heavy stuff. Plus, governments and businesses are spending more and more money on infrastructure projects like roads and bridges, which also requires boom trucks. Another reason for the growth is that boom trucks are getting better and more efficient all the time. They're more reliable, easier to use, and they can even do more things now. So, companies are upgrading their old boom trucks to these newfangled models. Europe has some strict rules about safety for workers and equipment, and that's led to the development of really advanced boom trucks that are designed to be safe and reliable. North America is also seeing some strong growth in the boom truck market. That's because construction and utility companies are expanding and using more and more boom trucks. And guess what? The U.S. has some of the biggest boom truck makers in the world, like Altec Inc., Manitowoc Cranes, Manitex International, Inc., and Versalift. So, that's definitely helping to drive growth in the region.
Boom Trucks Market Share
Prominent players operating in the boom trucks market include
- Manitowoc Cranes
- Palfinger AG
- Tadano Ltd.
- Aichi Corporation
- Manitex International Inc.
- Altec Inc.
- Elliott Equipment Company
Players are adopting new product development strategies to cater to changing customer demands. For instance, in October 2017, Tadano Ltd. announced the launch of its new GT-750EL truck cranes with a maximum lifting capacity of 75 tons and a boom length of 47 meters. Companies are incorporating advanced technical features into new machines to offer high productivity and efficiency. Additionally, players are offering enhanced customer support through company sales offices, distributors, and sales representatives. For instance, in December 2018, Manitex International Inc. announced the expansion of its distribution network in Arizona and California through partnerships with Southwest Products.
Boom Trucks Industry Background
The world of truck cranes is a bustling hub of competition, with construction and equipment giants battling for supremacy. These companies are constantly trying to outdo each other by building cranes that can lift more weight and reach higher heights. Smaller and medium-sized cranes are making waves in the telecom and logging industries. They're cheaper to run and use less fuel, making them ideal for these sectors. On the other hand, the heavy hitters are used in construction and oil and gas where they can really show off their lifting prowess. To stay ahead of the game, these companies are pouring their energy into developing advanced control systems that keep operators safe. By giving these professionals peace of mind, they're hoping to steal a march on the competition.
Table of Content
Report Content
Chapter 1. Methodology and Scope
1.1. Definitions & forecast parameters
1.1.1. Definitions
1.1.2. Methodology and forecast parameters
1.2. Data Sources
1.2.1. Secondary
1.2.2. Primary
Chapter 2. Executive Summary
2.1. Boom trucks industry 360° synopsis, 2015 – 2025
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Vehicle class trends
2.1.4. Application trends
2.1.5. Regional trends
Chapter 3. Boom Trucks Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2025
3.2.1. Construction equipment market landscape
3.2.1.1. North America
3.2.1.2. Europe
3.2.1.3. Asia Pacific
3.2.1.4. Latin America
3.2.1.5. MEA
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Manufacturers
3.3.3. Distribution channel analysis
3.3.4. End-use landscape
3.3.5. Vendor matrix
3.4. Technology & innovation landscape
3.4.1. Plug-in hybrid electric vehicles
3.4.2. Battery electric vehicles
3.4.3. Telematics & software systems
3.5. Regulatory landscape
3.5.1.1. International
3.5.1.1.1. ISO 4310
3.5.1.1.2. ISO 10245-12008
3.5.1.1.3. ISO 12480-1
3.5.1.1.4. ISO 23815-1
3.5.1.2. North America
3.5.1.2.1. OSHA 29 CFR 1926.21
3.5.1.2.2. The Scaffold & Access Industry Association
3.5.1.2.3. ANSI/SAIA A92.2-2015
3.5.1.2.4. ANSI/SAIA A92.5-2006 (R2014)
3.5.1.2.5. Canadian Standards Association, CSA C225-00
3.5.1.2.6. Canadian Standards Association, CSA C225-00
3.5.1.3. Europe
3.5.1.3.1. European emission regulations
3.5.1.3.2. EN2802013
3.5.1.3.3. Provision and Use of Work Equipment Regulations (PUWER)
3.5.1.3.4. European Community Whole Vehicle Type Approval (EC WVTA)
3.5.1.3.5. Air Quality Certificate
3.5.1.3.6. EurAsian Conformity Mark (EAC)
3.5.1.3.7. European Union Standards
3.5.1.3.8. Emission Controls Standards
3.5.1.4. Asia Pacific
3.5.1.4.1. NTPC
3.5.1.4.2. The International Council on Clean Transportation
3.5.1.4.3. Indian Emission Standards
3.5.1.4.4. Japanese Air Quality Standards
3.5.1.5. Latin America
3.5.1.5.1. NR12
3.5.1.6. MEA
3.5.1.6.1. Occupational Health & Safety Act, 1993
3.5.1.6.2. Driven machinery regulations, 2011
3.5.1.6.3. The South African Bureau of Standards (SABS)
3.5.1.6.4. ZABS (ZS 385)
3.5.1.6.5. OSH Regulations
3.5.1.6.6. GCC Standardization Organization - GSO 422015
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. Increasing infrastructure investments globally
3.6.1.2. Rising installation of displays and banners globally
3.6.1.3. Increasing rate of urbanization in the U.S.
3.6.1.4. Utility infrastructure transformation in Europe
3.6.1.5. Upgradation of power grids in India
3.6.1.6. Increasing infrastructure and industrial projects in Russia
3.6.1.7. Rising demand for lifting equipment from BRIC countries
3.6.1.8. Growing demand for bucket trucks in China and Japan
3.6.1.9. Rapid urbanization in Southern African countries
3.6.1.10. Proliferation of the construction industry in Middle East
3.6.2. Industry pitfalls & challenges
3.6.2.1. High initial cost
3.6.2.2. Costs associated with maintenance
3.6.2.3. Lack of trained operators
3.7. Growth potential analysis
3.8. Porter's analysis
3.8.1. Supplier power
3.8.2. Buyer power
3.8.3. Threat of new entrants
3.8.4. Threat of substitutes
3.8.5. Internal rivalry
3.9. Competitive landscape, 2018
3.9.1. Company market share analysis
3.9.2. Strategy dashboard (New product development, M&A, R&D, Investment landscape)
3.10. PESTEL analysis
Chapter 4. Boom Trucks Market, By Product
4.1. Key trends by product
4.2. Boom trucks
4.2.1. Market estimates and forecast, 2015 – 2025
4.2.2. Market estimates and forecast, by lifting capacity, 2015 – 2025
4.2.2.1. Below 10 metric tons
4.2.2.1.1. Market estimates and forecast, 2015 – 2025
4.2.2.2. 10 to 20 metric tons
4.2.2.2.1. Market estimates and forecast, 2015 – 2025
4.2.2.3. 20 to 30 metric tons
4.2.2.3.1. Market estimates and forecast, 2015 – 2025
4.2.2.4. 30 to 40 metric tons
4.2.2.4.1. Market estimates and forecast, 2015 – 2025
4.2.2.5. 40 to 50 metric tons
4.2.2.5.1. Market estimates and forecast, 2015 – 2025
4.2.2.6. Above 50 metric tons
4.2.2.6.1. Market estimates and forecast, 2015 – 2025
4.3. Bucket truck
4.3.1. Market estimates and forecast, 2015 – 2025
Chapter 5. Boom Trucks Market, By Vehicle Class
5.1. Key trends by vehicle class
5.2. Class 4
5.2.1. Market estimates and forecast, 2015 – 2025
5.3. Class 5
5.3.1. Market estimates and forecast, 2015 – 2025
5.4. Class 6
5.4.1. Market estimates and forecast, 2015 – 2025
5.5. Class 7
5.5.1. Market estimates and forecast, 2015 – 2025
5.6. Class 8
5.6.1. Market estimates and forecast, 2015 – 2025
Chapter 6. Boom Trucks Market, By Application
6.1. Key trends by application
6.2. Rental
6.2.1. Market estimates and forecast, 2015 – 2025
6.3. Construction
6.3.1. Market estimates and forecast, 2015 – 2025
6.4. Utility
6.4.1. Market estimates and forecast, 2015 – 2025
6.5. Others
6.5.1. Market estimates and forecast, 2015 – 2025
Chapter 7. Boom Trucks Market, By Region
7.1. Key trends by region
7.2. North America
7.2.1. Market estimates and forecast, by product, 2015 – 2025
7.2.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.2.3. Market estimates and forecast, by application, 2015 – 2025
7.2.4. U.S.
7.2.4.1. Market estimates and forecast, by product, 2015 – 2025
7.2.4.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.2.4.3. Market estimates and forecast, by application, 2015 – 2025
7.2.5. Canada
7.2.5.1. Market estimates and forecast, by product, 2015 – 2025
7.2.5.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.2.5.3. Market estimates and forecast, by application, 2015 – 2025
7.3. Europe
7.3.1. Market estimates and forecast, by product, 2015 – 2025
7.3.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.3.3. Market estimates and forecast, by application, 2015 – 2025
7.3.4. UK
7.3.4.1. Market estimates and forecast, by product, 2015 – 2025
7.3.4.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.3.4.3. Market estimates and forecast, by application, 2015 – 2025
7.3.5. Germany
7.3.5.1. Market estimates and forecast, by product, 2015 – 2025
7.3.5.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.3.5.3. Market estimates and forecast, by application, 2015 – 2025
7.3.6. France
7.3.6.1. Market estimates and forecast, by product, 2015 – 2025
7.3.6.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.3.6.3. Market estimates and forecast, by application, 2015 – 2025
7.3.7. Italy
7.3.7.1. Market estimates and forecast, by product, 2015 – 2025
7.3.7.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.3.7.3. Market estimates and forecast, by application, 2015 – 2025
7.3.8. Russia
7.3.8.1. Market estimates and forecast, by product, 2015 – 2025
7.3.8.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.3.8.3. Market estimates and forecast, by application, 2015 – 2025
7.4. Asia Pacific
7.4.1. Market estimates and forecast, by product, 2015 – 2025
7.4.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.4.3. Market estimates and forecast, by application, 2015 – 2025
7.4.4. China
7.4.4.1. Market estimates and forecast, by product, 2015 – 2025
7.4.4.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.4.4.3. Market estimates and forecast, by application, 2015 – 2025
7.4.5. India
7.4.5.1. Market estimates and forecast, by product, 2015 – 2025
7.4.5.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.4.5.3. Market estimates and forecast, by application, 2015 – 2025
7.4.6. Japan
7.4.6.1. Market estimates and forecast, by product, 2015 – 2025
7.4.6.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.4.6.3. Market estimates and forecast, by application, 2015 – 2025
7.4.7. South Korea
7.4.7.1. Market estimates and forecast, by product, 2015 – 2025
7.4.7.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.4.7.3. Market estimates and forecast, by application, 2015 – 2025
7.5. Latin America
7.5.1. Market estimates and forecast, by product, 2015 – 2025
7.5.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.5.3. Market estimates and forecast, by application, 2015 – 2025
7.5.4. Brazil
7.5.4.1. Market estimates and forecast, by product, 2015 – 2025
7.5.4.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.5.4.3. Market estimates and forecast, by application, 2015 – 2025
7.5.5. Mexico
7.5.5.1. Market estimates and forecast, by product, 2015 – 2025
7.5.5.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.5.5.3. Market estimates and forecast, by application, 2015 – 2025
7.6. MEA
7.6.1. Market estimates and forecast, by product, 2015 – 2025
7.6.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.6.3. Market estimates and forecast, by application, 2015 – 2025
7.6.4. UAE
7.6.4.1. Market estimates and forecast, by product, 2015 – 2025
7.6.4.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.6.4.3. Market estimates and forecast, by application, 2015 – 2025
7.6.5. Saudi Arabia
7.6.5.1. Market estimates and forecast, by product, 2015 – 2025
7.6.5.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.6.5.3. Market estimates and forecast, by application, 2015 – 2025
7.6.6. South Africa
7.6.6.1. Market estimates and forecast, by product, 2015 – 2025
7.6.6.2. Market estimates and forecast, by vehicle class, 2015 – 2025
7.6.6.3. Market estimates and forecast, by application, 2015 – 2025
Chapter 8. Company Profiles
8.1. Aichi Corporation
8.1.1. Business Overview
8.1.2. Financial Data
8.1.3. Product Landscape
8.1.4. Strategic Outlook
8.1.5. SWOT Analysis
8.2. Altec Inc.
8.2.1. Business Overview
8.2.2. Financial Data
8.2.3. Product Landscape
8.2.4. Strategic Outlook
8.2.5. SWOT Analysis
8.3. Axion Lift
8.3.1. Business Overview
8.3.2. Financial Data
8.3.3. Product Landscape
8.3.4. Strategic Outlook
8.3.5. SWOT Analysis
8.4. Bronto Skylift
8.4.1. Business Overview
8.4.2. Financial Data
8.4.3. Product Landscape
8.4.4. Strategic Outlook
8.4.5. SWOT Analysis
8.5. CTE Group SPA
8.5.1. Business Overview
8.5.2. Financial Data
8.5.3. Product Landscape
8.5.4. Strategic Outlook
8.5.5. SWOT Analysis
8.6. Dur-A-Lift, Inc.
8.6.1. Business Overview
8.6.2. Financial Data
8.6.3. Product Landscape
8.6.4. Strategic Outlook
8.6.5. SWOT Analysis
8.7. Elliott Equipment Co.
8.7.1. Business Overview
8.7.2. Financial Data
8.7.3. Product Landscape
8.7.4. Strategic Outlook
8.7.5. SWOT Analysis
8.8. Henan Symmen Machinery Co., LTD.
8.8.1. Business Overview
8.8.2. Financial Data
8.8.3. Product Landscape
8.8.4. Strategic Outlook
8.8.5. SWOT Analysis
8.9. Link Belt Cranes
8.9.1. Business Overview
8.9.2. Financial Data
8.9.3. Product Landscape
8.9.4. Strategic Outlook
8.9.5. SWOT Analysis
8.10. Load King
8.10.1. Business Overview
8.10.2. Financial Data
8.10.3. Product Landscape
8.10.4. Strategic Outlook
8.10.5. SWOT Analysis
8.11. Manitex Inc.
8.11.1. Business Overview
8.11.2. Financial Data
8.11.3. Product Landscape
8.11.4. Strategic Outlook
8.11.5. SWOT Analysis
8.12. Manitowoc Cranes
8.12.1. Business Overview
8.12.2. Financial Data
8.12.3. Product Landscape
8.12.4. Strategic Outlook
8.12.5. SWOT Analysis
8.13. Palfinger AG
8.13.1. Business Overview
8.13.2. Financial Data
8.13.3. Product Landscape
8.13.4. Strategic Outlook
8.13.5. SWOT Analysis
8.14. Ruthmann GmbH
8.14.1. Business Overview
8.14.2. Financial Data
8.14.3. Product Landscape
8.14.4. Strategic Outlook
8.14.5. SWOT Analysis
8.15. Tadano Ltd.
8.15.1. Business Overview
8.15.2. Financial Data
8.15.3. Product Landscape
8.15.4. Strategic Outlook
8.15.5. SWOT Analysis
8.16. Terex Corporation
8.16.1. Business Overview
8.16.2. Financial Data
8.16.3. Product Landscape
8.16.4. Strategic Outlook
8.16.5. SWOT Analysis
8.17. Versalift
8.17.1. Business Overview
8.17.2. Financial Data
8.17.3. Product Landscape
8.17.4. Strategic Outlook
8.17.5. SWOT Analysis
- Manitowoc Cranes
- Palfinger AG
- Tadano Ltd.
- Aichi Corporation
- Manitex International Inc.
- Altec Inc.
- Elliott Equipment Company
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