Boom Trucks Market Analysis

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./p>

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.

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.
 

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.