Bucket Trucks Market Size

Bucket Trucks Market Size

Bucket Trucks Market was valued at USD 1.5 billion in 2023 and is estimated to register a CAGR of over 7.5% between 2024 and 2032. The increasing government investments in infrastructure development including new roads, bridges, electricity grids, and telecom networks boost market growth.

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Bucket trucks become essential equipment for many construction operations including new and existing infrastructure, enabling workers to securely access high locations. They are used for installing & repairing equipment at high elevations in renewable energy projects such as wind farms and solar installations. Bucket trucks outperform traditional methods such as scaffolding and ladders in terms of efficiency and worker safety. This is especially critical for large-scale infrastructure projects with short timeframes. Bucket trucks enable workers to reach required heights swiftly and safely, optimizing project schedules and preventing potential mishaps.
 

For instance, in December 2023, the World Bank published findings on "private investment in infrastructure development," revealing that USD 36.4 billion was invested across 44 countries in various infrastructure endeavors by mid-2023. The number of projects increased from 121 to 161 during this period, indicating a wider spectrum of infrastructure initiatives worldwide and illustrating sector diversification. This underscores the expansion within this domain, consequently propelling the market growth.
 

The increasing installation of displays and banners across the globe is fueling the adoption of bucket trucks. Large billboards, building advertising, and street banners are frequently erected high to maximize exposure. Bucket trucks are a safe & effective means to transfer people and supplies to high heights for installation, maintenance, or repair. Scaffolding or ladders may not be suitable or safe for these enormous displays. Space is in short supply as cities become more densely populated. Building-mounted screens and rooftop advertising become increasingly common. Bucket trucks provide the required reach and flexibility to handle tight locations and reach rooftops for installation work. Sign placement, particularly at high heights, is subject to safety requirements. Bucket trucks meet these criteria by providing a safe platform with guardrails and fall protection for workers.
 

The high initial cost of bucket trucks poses a major challenge to the market, potentially slowing down its growth. Small businesses and startups may not have the funds to invest in a new bucket truck, especially given the additional costs associated with starting or maintaining a firm, thereby hindering market expansion. Even established enterprises may be cautious about replacing their old bucket trucks on a regular basis due to the exorbitant expense. They may choose to extend the life of their present vehicles, even if it means sacrificing economy, safety features, or conformity with the latest rules. Bucket trucks might be prohibitively expensive in developing countries. Companies or contractors may be more likely to choose cheaper options.