Kings Research™ presents this information in its report titled, “Boom Truck Market Size, Share & Industry Analysis, By Capacity (0-20 Tons, 20-50 Tons, Above 50 Tons), By Application (Oil & Gas, Construction, Utility, Industrial, Others), By Type (Telescopic & Straight Boom Trucks, Knuckle Boom Trucks), and Regional Analysis, 2024-2031"

Boom Truck Market Size was valued at USD 3,461.7 million in 2023 and is projected to grow from USD 3,642.2 million in 2024 to USD 5,435.2 million by 2031, exhibiting a CAGR of 5.89% during the forecast period. The market is expanding due to rising construction activities and increased demand across various sectors such as telecommunications and utilities.

One of the key factors contributing to the growth of the boom truck market is the booming construction industry. Construction activities are surging across the globe, particularly in countries such as China, India, and Brazil, where urbanization and population growth are driving the need for new infrastructure. Whether it’s building skyscrapers or bridges, boom trucks are vital for the transportation and installation of heavy materials.

The ability to reach high altitudes and maneuver in tight spaces makes boom trucks highly desirable in construction projects. Moreover, the growing demand for sustainable and energy-efficient construction equipment is propelling manufacturers to invest in the development of advanced boom trucks that offer better fuel efficiency and reduced emissions.

Browse Full Report Details @ https://www.kingsresearch.com/boom-truck-market-966

In addition to construction, the utility sector is another major driver of the boom truck market. The increasing number of power grid installations, maintenance of electrical infrastructure, and the growing use of renewable energy sources are pushing the demand for specialized boom trucks. These vehicles are often used by utility companies to reach high-voltage power lines or for the installation and maintenance of street lighting. Their ability to perform complex tasks at considerable heights ensures their indispensable role in the utilities sector. The growing investments in energy infrastructure, particularly in renewable energy projects like wind and solar power, are further fueling the demand for boom tr

List of Key Companies in Boom Truck Market

  • Terex Corporation
  • AICHI CORPORATION 
  • Altec Industries. 
  • Elliott Equipment Company
  • Manitex Caribe
  • Manitowoc Company, Inc.
  • PALFINGER AG
  • Bronto Skylift 
  • RUTHMANN Holdings GmbH
  • Tadano Ltd. 

Geographically, North America holds a significant share of the boom truck market, primarily due to the well-established construction and utility sectors in the region. The United States, in particular, is a key market for boom trucks, with ongoing investments in infrastructure development and utility upgrades. The demand for high-capacity boom trucks capable of handling large-scale construction projects, as well as the replacement of aging utility infrastructure, is driving growth in this region. Moreover, the presence of major market players in North America, such as Manitowoc, Terex Corporation, and Altec Industries, ensures a steady supply of boom trucks equipped with the latest technological advancements.

The Asia-Pacific region is expected to witness the fastest growth in the boom truck market during the forecast period. Rapid industrialization, urbanization, and infrastructure development projects in countries such as China, India, and Japan are key factors contributing to this growth. In China, the government's focus on expanding infrastructure, coupled with the Belt and Road Initiative, is creating numerous opportunities for boom truck manufacturers. Similarly, India is experiencing a surge in construction projects, including the development of smart cities and transportation networks, which is boosting demand for boom trucks. Japan, known for its advanced manufacturing capabilities, is also seeing increased adoption of boom trucks in its construction and utility sectors.

Europe is another key market for boom trucks, with countries like Germany, the United Kingdom, and France leading the way. The region's commitment to renewable energy projects, particularly wind and solar power, is driving demand for boom trucks, as these vehicles are essential for the installation and maintenance of energy infrastructure. Moreover, stringent environmental regulations in Europe are encouraging the adoption of electric and hybrid boom trucks, as businesses seek to reduce their carbon footprint and comply with emission standards.

Boom Truck Market is Segments:

By Capacity:

  • 0-20 Tons
  • 20-50 Tons
  • Above 50 Tons

By Application:

  • Oil & Gas
  • Construction
  • Utility
  • Industrial
  • Others

Contact Us:

Kings Research

Website: https://www.kingsresearch.com 

E-mail: business@kingsresearch.com 

Phone: (+1) 888 328 2189