Boom Truck Market Strategies, Top Players, Growth Opportunities, Analysis, and Forecast by 2031

The Boom Truck Market is expected to register a CAGR of 5.3% during 2023–2031. The rise in investment towards infrastructure development globally is likely to remain a key trend in the market.

Boom Truck Market Analysis

• Urbanization is the driver of boom trucks and autonomous boom truck is an Opportunity. The growth of the boom truck market is driven by an increase in government and private sector construction spending worldwide.
• Due to their ability to carry workers in an efficient and safe manner, the demand for such trucks is growing in sectors like industry, construction, and utilities.

Boom Truck Market Overview

• A boom truck is a commercial vehicle with hydraulic crane mounted on the frame. The driver may operate the boom truck out of his or her own seat.  In the world, market growth is going to be more rapid than ever. For each regional market, an assessment of demand for boom trucks was carried out on a country specific basis by obtaining quotes from numerous experts and suppliers in the field of boom truck production through assessments of its size as well as forecast price points,
• Analysis of major regional and national dynamics is influenced by price index and impact. One of the main growth regions is the Asia Pacific region, which has led to its largest market position. The growth of North America's boom trucks is expected to continue at an exponential rate over the next few years. Due to the booming real estate sector and rising government and private investment in infrastructure, European boom truck markets are expected to increase.

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Boom Truck Market: Strategic Insights

Boom Truck Market

• 
  CAGR (2024 - 2031)

  5.3%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

• Rise in Demand for Rented Boom Trucks

FUTURE TRENDS

• Increasing Urbanization and Industrialization

OPPORTUNITIES

• The rise in investment towards infrastructure development globally

Key Players

• Load King
• Manitex Inc
• Manitowoc Cranes
• Palfinger AG
• Tadano Ltd
• CTE Group SPA
• Bronto Skylift
• Axion Lift
• Altec Inc
• Aichi Corporation

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product

• Boom truck cranes
• Bucket trucks

Vehicle Class

• Class 4
• Class 5
• Class 6
• Class 7
• Class 8

Application

• Rental
• Construction
• Utility

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Boom Truck Market Drivers and Opportunities

Rise in Demand for Rented Boom Trucks to Favor the Market

• Truck-mounted cranes are available for rent and can be used for project services as needed. This should also reduce leasing costs when buying a new truck. The use of rental equipment is becoming increasingly popular because it offers many advantages.
• Renting boom truck cranes can save you money in many areas, including insurance and licensing of government equipment. In addition, global and local rental service providers offer customized solutions with key lifting features, working heights and accessories.

Increasing Urbanization and Industrialization in Developing Regions

• The market is expected to witness a rapid degree of urbanization, which will benefit the market activity to an excellent extent and thus increase the chances of the market to meet the increasing demands and continue to grow as per the predicted growth rate for the boom trucks market during the forecast period
• In addition, increasing industrialization across the developing regions such as Asia Pacific, South America, Middle East and Africa is expected to fuel the demand for boom trucks in the coming years.

Boom Truck Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Boom Truck Market analysis are product and vehicle class.

• Based on product, the Boom Truck Market is divided into boom truck cranes and bucket trucks.
• On the basis of vehicle class, the market is divided into class 4, class 5, class 6, class 7, class 8.
• Based on application, the Boom Truck Market is divided into rental, construction, and utility.

Boom Truck Market Share Analysis by Geography

• Boom Truck Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering Boom Truck Market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the Boom Truck Market in these regions.

Boom Truck Market Report Scope

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Boom Truck Market News and Recent Developments

The Boom Truck Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Boom Truck Market are listed below:

• THE NEW HEAVY-DUTY LOADING CRANES OF the TECRANGE, Limitless possibilities are what PALFINGER guarantees with its two new heavy-duty cranes: Outreaches of up to 38.7 meters are the result of the global market leader creating new premium heavy-duty cranes for special and high load capacity applications with the PK 1350 TEC and PK 1650 TEC. The new TEC range is made up of maximum outreach, the best lifting capacity as well as the most precise. (Source: PALFINGER, Company Website, April 2024)
• Barnhart acquired Baxter Crane and Rigging, of Tupelo, Mississippi, which includes Baxter’s crane rental service, equipment, and employees. It represents Barnhart’s fourth field office in the state, complementing services from locations in Columbus, Jackson and Pascagoula. (Source: Barnhart Crane, Company Website, January 2024)

Boom Truck Market Report Coverage and Deliverables

The “Boom Truck Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Boom Truck Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Boom Truck Market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Boom Truck Market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Boom Truck Market
• Detailed company profiles