Authored By: Sarah
11 Jul 2024

 Boom Truck Market Size to grow by USD 464.1 million between 2024-2028

According to a research report “ Boom Truck Market” by End-user (Construction, Telecom, Transportation and logistics, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 464.1 million, at a CAGR of  4.5% during the forecast period. The expansion of urban populations and the subsequent growth of industries such as manufacturing, transportation and logistics, and utilities, are driving a surge in demand for boom trucks in these sectors. According to The World Bank Group, approximately 56% of the global population resided in urban areas as of 2020. With the projected rise of megacities, which are defined as urban areas with over 10 million inhabitants, particularly in developing countries like China, India, and South Africa, this trend is expected to continue throughout the forecast period. This demographic shift will result in a substantial increase in the demand for boom trucks to support the infrastructure development and maintenance of these urban centers.

Browse market data tables, figures, and in-depth TOC on “Boom Truck Market” by End-user (Construction, Telecom, Transportation and logistics, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By End-user, the Construction segment is projected to dominate the market size in 2024

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By Geography, APAC  segment is expected to hold the largest market size for the year 2024

The global boom truck market within the construction sector is projected to experience robust growth during the forecast period. This expansion can be attributed to the increasing adoption of new boom trucks by construction contractors and the surge in investments in the construction industry. Furthermore, substantial infrastructure spending by governments worldwide is anticipated to fuel the demand for boom trucks in this segment. The trend of industrialization and urbanization is driving the need for client-focused construction activities and infrastructure development, particularly in emerging economies such as India, China, and the Middle East, where the majority of the demand for boom trucks in infrastructure projects originates.

APAC is forecasted to hold the largest market size by region in 2024

The Boom Truck market represents a significant segment within the construction industry, offering versatile solutions for various elevated work requirements. These vehicles, equipped with extendable arms and a platform, facilitate efficient and safe access to high places, enhancing productivity and reducing project timelines. Market growth is driven by increasing infrastructure development and a growing focus on workforce safety. Companies are investing in advanced boom trucks featuring improved reach, maneuverability, and safety features to meet evolving customer needs.

The Boom Truck Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Able Rigging Contractors Inc.
  • Altec Inc.
  • Aspen Equipment LLC
  • Dur A Lift Inc.
  • Elliott Equipment Inc.
  • Fassi Gru S.p.A.
  • Interlake Crane Inc.
  • Liebherr International AG
  • Link Belt Cranes
  • Load King Trailers
  • Manitex International Inc.
  • Morita Holdings Corp.
  • PALFINGER AG
  • Ruthmann Holdings GmbH
  • Tadano Ltd.
  • Terex Corp.
  • The Manitowoc Co. Inc.
  • Time Manufacturing Co.
  • Toyota Industries Corp.
  • Xuzhou Construction Machinery Group Co. Ltd.
.

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Research Analysis Overview

The Boom Truck Market has witnessed significant growth in various industries, including the telecom and utility sectors. These industries require the use of Boom Truck Cranes for installing and maintaining infrastructure facilities such as telecommunications towers and utility poles in urban spaces and difficult terrains. The construction sector also relies on Boom Trucks for loading materials and pumping concrete, especially in green construction projects. Dealers and rental units play a crucial role in the Boom Truck Market, providing transportation and logistics solutions for the telecommunications, utility, and construction industries. OEMs manufacture Boom Trucks with advanced features to cater to the unique needs of these sectors. Long-term partnerships between OEMs, dealers, and clients are essential for ensuring the efficient and effective use of Boom Trucks in smart cities and residencies. The utility sector's increasing focus on infrastructure development, the telecommunications industry's expansion, and the construction sector's growing demand for eco-friendly solutions are key drivers of the Boom Truck Market. Support pads and other infrastructure facilities are essential for the safe and efficient operation of Boom Trucks, making them an indispensable part of the urban landscape. Freight and logistics are also crucial aspects of the Boom Truck Market, ensuring the timely delivery of essential materials and equipment to various projects.

Market Research Overview

The Boom Truck Market encompasses a range of applications across various industries, including forestry, construction, real estate, telecommunication, and utility sectors. Advanced control systems enable these trucks to offer maximum lifting capacity and working heights, making them indispensable for construction sites, infrastructure facilities, and urban spaces. Boom trucks, also known as bucket trucks or telecom trucks, are essential in the telecommunication sector for installing and maintaining power lines, telephone cables, data cables, and highway signs. In the utility industry, they are used for electrical line repairs, street light maintenance, and personnel hoist. Manufacturing companies produce boom truck cranes with load carrying capabilities for the transportation industry, rental services, and equipment rental units. These vehicles are also utilized in the farming industry for loading materials and supporting equipment on difficult terrains. In the construction sector, they are used for lifting construction materials, pumping concrete, and hoisting personnel to rooftops for building repairs. Long-term partnerships with OEMs, logistics, and freight companies ensure the smooth delivery of rental units to various projects. The boom truck market is expanding with the growth of smart cities, residencies, and infrastructure facilities, offering opportunities for dealers and rental services in the construction, utility, and telecom industries.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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