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Utility Trucks Market Share

Report ID: GMI4931
Published Date: Apr 2024
Report Format: PDF

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Utility Trucks Market Share

AB Volvo and Bucher Industries are the major players in the utility trucks industry holds over 10% of market share. Volvo Group produces utility trucks under the Mack Trucks and Volvo Trucks brands. The company offers a variety of commercial vehicles, chassis cabs, and vocational trucks for use in municipal, transportation, utility, and construction applications. On the other hand, Bucher Municipal produces a variety of street sweepers intended for use in urban and municipal cleaning settings. Many sizes of these street sweepers are available for use on roads and in cities, along with compact sweepers for small streets.

The industry is highly competitive as several key players are emerging and competing with major players, vying for market share.

Utility Trucks Market Companies

Major companies operating in the utility trucks industry are:

AB Volvo
Aichi Corporation
Altec Industries, Inc.
Aspen Equipment Company
Auto Crane (Dover Corporation)
Bucher Industries
BYD Motors, Inc
Daimler AG
Elliott Equipment Company
Hiab (Cargotec Corporation)
IMT (Iowa Mold Tooling Co., Inc.)
Manitex International, Inc.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of utility trucks reached USD 36.3 billion in 2023 and is set to witness 7.5% CAGR between 2024 and 2032, owing to the growing economic and infrastructure development across the globe.

The dump truck segment is expected to hold over 37% of the market share by 2032, as they are essential to move materials, such as sand, gravel, boulders, and building debris, to & from construction sites.

Asia Pacific market generated USD 23.93 billion in revenue in 2023, attributed to the expansion of e-commerce and online retailing.

AB Volvo, Aichi Corporation, Altec Industries, Inc., Aspen Equipment Company, Auto Crane (Dover Corporation), Bucher Industries., BYD Motors, Inc, Daimler AG, Elliott Equipment Company, Hiab (Cargotec Corporation), IMT (Iowa Mold Tooling Co., Inc.) and Manitex International, Inc.