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Report ID: AM0032
Pages: 196
Base Year: 2025
Format: PDF
Historical Date: 2020-2024
MARKET SCOPE:
The global boom trucks market is projected to grow significantly, registering a CAGR of 5.8% during the forecast period (2025 – 2034).
The boom trucks market is growing steadily due to increased demand for construction, utility, and infrastructure development projects worldwide. Rapid urbanization, smart city initiatives, and the continuous inflow of money into public and private infrastructure are the main reasons for the need for efficient lifting and material handling equipment. These trucks are preferred due to their numerous advantages, such as being versatile and movable, while also capable of performing various tasks like lifting, hoisting, and transporting heavy loads, which saves project time and labour costs. Apart from this, advancements in hydraulic systems, safety features, and automation technologies have contributed to the high quality of modern boom trucks.
Moreover, the reason this market continues to grow is the increasing use of boom trucks in various industries such as telecommunications, energy, and logistics. Power distribution networks expansion, renewable energy projects and 5G infrastructure deployment are the main causes for the need of lifting equipment for high-reach. Besides, the adoption of worker safety and efficiency has compelled enterprises to invest in boom trucks rather than traditional manual methods. The rental services make the market more accessible to a wider range of people, allowing smaller contractors and businesses to access the services of these trucks without a significant investment. This combination of technological innovation, industry expansion, and cost-effectiveness is driving the growth of the boom trucks market worldwide.
MARKET OVERVIEW:
Driver: Rising Infrastructure Development Projects Fueling Demand for Boom Trucks
The escalating demand for infrastructure development across the globe is one of the major reasons that contribute to the growth of the boom trucks market. Governments and private sectors are investing in smart cities, highways, bridges, renewable energy projects, and urban constructions, all of which have material handling and lifting as their requirements. Boom trucks have notable traits such as high mobility, flexibility, and efficiency, which allow the contractors to perform tasks with less labour and time, like lifting heavy construction materials, placing utility poles, or installing telecommunication equipment. Besides, through their versatility concerning traditional cranes, they are no less than a source of attraction for the developers of infrastructure, who by this, are directly triggering the demand and consequently, market growth.
Restraint: High Initial Investment and Maintenance Costs Hindering Market Expansion
One of the greatest obstacles to the development of the boom trucks market is the high selling and maintenance cost. Modern boom trucks with top-notch hydraulics, automation, and safety features are often accompanied by a significantly expensive upfront investment, which can prove to be a big problem for small and medium-sized contractors. Furthermore, the organization of maintenance costs, including fuel expenses and the required training of operators, constitutes a significant share of the total cost of ownership. Such financial obstacles limit adoption in particular in the developing regions where rental markets may not be so established, and thus, the trend of overall market expansion would be slower.
Opportunity: Expansion of Renewable Energy and Utility Projects Creating Growth Avenues
Industry shift to renewables, notably solar and wind, will open major opportunities for the boom trucks market. These projects call for the elevation and installation of very large equipment such as solar panels, wind turbines, and transmission infrastructure, where the boom trucks, with their long reach and easy manoeuvrability, become the perfect solution. The rising demand for power and telecommunication upgrades anywhere in the world makes utility companies follow by installing boom trucks for pole installation, routine servicing, and repairs. Together with government initiatives promoting the shift to clean energy, this trend is widening the road to the company’s growth into new markets and the long-term commitment of boom trucks.
SEGMENTATION ANALYSIS:
The infrastructure segment is anticipated to grow significantly during the forecast period
The infrastructure segment of the boom trucks market is the main focus during the forecast period due to its expected significant growth. It is due to the global emphasis on large-scale construction and development projects Geographically, the major contributors to the urban projects have been developed countries such as the United States, the United Kingdom, and Germany. All these countries are implementing smart infrastructure projects that require material handling and lifting solutions. In particular, the boom trucks have mobility, versatility, and capacity to lift heavy loads to exact heights that make them a perfect fit for such kind of projects. This also helps the project timeline and labor requirements are reduced. Besides safety and hydraulic technology upgrading, which also facilitate the operational efficiency, boom trucks have been a preferred choice for the infrastructure sector. Consequently, the need for rapid and reliable construction solutions that continue to grow at a rapid pace is going to fuel the boom trucks market growth in this segment significantly.
REGIONAL ANALYSIS:
The North America region is set to witness significant growth during the forecast period
The North America boom trucks market holds a leading position, due to the well-established construction, utility, and energy sectors that have fueled the market for boom trucks. This includes several activities such as the expansion of highways, urban development, and renewable energy projects, all of which call for the use of versatile lifting equipment such as boom trucks. Besides, stringent safety regulations and the focus on efficiency at the operational level have led to the preference of technologically advanced boom trucks with improved hydraulic systems and automation features. Moreover, the geographical presence of the world’s leading manufacturers together with rental service providers who are always readily at hand to give their support is a factor that also contributes to market growth in the region, thereby making North America leading in terms of revenue worldwide.
The Asia-Pacific region is becoming the fastest-growing area for the boom trucks market, this is because of rapid urbanization, industrialization, and large-scale infrastructure projects going on in China, India, and Southeast Asian countries. The need for efficient lifting and material handling solutions is continuously increasing due to government projects for smart cities, road networks, and energy infrastructure. Besides this, the growing construction and utility sectors, together with the increasing adoption of modern equipment to improve project timelines and safety, are driving the market penetration. Furthermore, the increasing availability of rental services has made boom trucks more accessible to smaller contractors, which has therefore made the region grow to be faster.
COMPETITIVE ANALYSIS:
The global boom trucks market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.
Recent Development:
SCOPE OF THE REPORT:
KEY REASONS TO PURCHASE THIS REPORT:
** In – depth qualitative analysis will be provided in the final report subject to market
Primary and Secondary Research
In order to understand the market in detail we conduct primary and secondary research. We collect as much information as we can from the market experts through primary research. We contact the experts from both demand and supply side and conduct interviews to understand the actual market scenario. In secondary research, we study and gather the data from various secondary sources such as company annual reports, press releases, whitepapers, paid databases, journals, and many other online sources. With the help of the primary interviews, we validate the data collected from secondary sources and get a deep understanding on the subject matter. Post this our team uses statistical tools to analyses the data to arrive at a conclusion and draft it in presentable manner.
Market Size Estimations
Understanding and presenting the data collected is a crucial task. Market sizing is a critical part of the data analysis and this task is performed by using Top-down and bottom-up approaches. In this process, we place different data points, market information and industry trends at a suitable space. This placement helps us presume the estimated & forecast values for coming few years. We use several mathematical and statistical models to estimate the market sizes of different countries and segments. Each of this is further added up to outline the total market. These approaches are individually done on regional/country and segment level.
Data Triangulation
As we arrive at the total market sizes, the market is again broken down into segments and subsegments. This process is called as data triangulation and is implementable wherever applicable. This step not only helps us conclude the overall market engineering process, but also gives an assurance on accuracy of the data generated. The data is triangulated based on studying the market trends, various growth factors, and aspects of both demand and supply side.