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 on: 2024-07-08 | No of Pages : 240 | Industry : Construction
Publisher : MRA | Format : PDF&Excel
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
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
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.
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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 |
|
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Boom Trucks Market Analysis
Bucket trucks market was estimated to be over 50% in 2018 and the increasing utilization of these trucks in the telecommunication industry for applications such as installation & maintenance of data cables, TV cables, and telephone cables is contributing to the industry growth. These trucks are also used to trim branches away from highway signs, power lines, and roofs. When trimming branches near power lines, specially insulated bucket truck models are used to keep workers safe from potentially dangerous high-voltage wires. Furthermore, the demand for these products is also increasing in the farming industry to harvest fruits from the highest branches of the trees safely & efficiently.
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.
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The demand for class 4 and class 5 truck cranes is increasing due to their enhanced fuel efficiency and lower operating cost. The deployment of these machines featuring high torque & power capabilities with advanced control systems across the construction and telecommunication sites is supporting the industry growth. The enhanced load carrying capabilities and safety features of the class 4 and class 5 models offer enhanced operability and reliability. Light duty bucket trucks are majorly used in fire safety operations to evacuate people in cases of emergencies. Additionally, these trucks are also used to transport lightweight construction material and equipment at the construction sites.
Truck-mounted cranes are essential for the construction of large buildings & infrastructures to lift heavy material loads due to which construction companies prefer them for quick and hassle-free work completion. Equipment rental is gaining popularity due to its various advantages such as the elimination of initial purchase & depreciation cost and reduced maintenance & repair cost. A rented truck-mounted crane can save time and cost in several areas including getting insurance and pursing government equipment licensing. Additionally, global and local rental providers offer customer-specific solutions with required lifting capacities, working heights, and accessories. Leading rental companies provide trained personnel along with rental service, ensuring maximum operator safety and leading to reduced worksite fatalities. Moreover, the growing construction industry in North America and Asia Pacific will drive the demand for rental machines, further supporting the industry growth.
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The European boom tracks market will grow at over 5% CAGR from 2019 to 2025 owing to the growing real estate sector and the increasing government & private sector spending in the infrastructure industry. The growth is also attributed to the increased utilization of efficient & reliable lifting machinery in the utility, telecommunication, and construction applications. European countries have several worker & equipment safety-related regulations, which lead to the development of technically advanced machinery that offers a safe working environment. The North American industry is expected to grow at a high rate due to the expansion of the construction and utility sectors. The presence of several boom truck manufactures in the U.S. including Altec Inc., Manitowoc Cranes, Manitex International, Inc., and Versalift, serves as the major factor driving the regional industry growth.
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 truck cranes market is highly competitive owing to the presence of several industrial & construction equipment manufacturing companies across the globe. The industry is witnessing demand for machines with enhanced lifting capacities and maximum reaching heights. The demand for small and medium-duty truck cranes is increasing majorly in the telecommunication and forestry sectors due to their low operating cost and enhanced fuel efficiency. The heavy-duty trucks are used in the oil & gas and construction industry due to their maximum lifting capabilities. The companies are developing products with advanced control systems to ensure maximum operator safety to gain a competitive edge.
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