Boom Trucks Market Size

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./p>

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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./p>

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.