Global Boom Trucks Market Growth Analysis - Market Size, Share, Forecast Trends and Outlook Report (2024-2032)

Global Boom Trucks Market Outlook

The global boom trucks market is anticipated to grow in the forecast period of 2024-2032 at a CAGR of 5%.

Thriving Crane Market to Augment the Boom Trucks Industry Growth

On the basis of product type, cranes account for a significant share in the global boom trucks industry owing to their rising demand in heavy modernisation and upgradation of infrastructure across the continents. Meanwhile, the demand for boom trucks in the construction sector is significant and the rising infrastructural investments are anticipated to propel the market growth in the forecast period. Also, the construction sector accounts for the largest revenue share in the industry and is expected to witness a steady growth in the forecast period.

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The Asia Pacific to Boost the Growth of the Boom Trucks Industry

Geographically, the Asia Pacific accounts for the largest share in the market and is expected to retain its dominance in the forecast period. This can be attributed to the on-going construction activities in emerging economies like India, China, and Philippines. Meanwhile, the resurgence of infrastructure projects in Europe is anticipated to provide ample growth opportunities to the global boom trucks industry in the forecast period.

Boom Truck: Market Segmentation

A boom truck can be defined as a carrier truck having a telescopic boom over its frame. The truck usually moves where its telescopic unit, that is, a man lift will be used. The product is used for municipal duties, construction, developing roads, and others.

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By product type, the market is divided into:

• Crane
• Bucket

Based on vehicle class, the industry can be segmented into:

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

Based on application, the industry can be segmented into:

• Construction
• Logistics
• Utilities
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand from Construction Sector to Bolster the Global Boom Trucks Industry Growth

The demand for boom trucks in the construction industry is significant. This factor is further buttressed by the latest technological advancements, which allow these trucks to be well-equipped with features such as GPS tracking, fleet management, and telematics solutions. The market is further aided by the provision of equipment renting services by the key market players. Over the forecast period, rising investments in both new and old infrastructure projects is expected to propel the market growth.

Key Industry Players in the Global Boom Trucks Market

The report gives a detailed analysis of the following key players in the global boom trucks market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Manitex, Inc
• Altec, Inc
• Bronto Skylift Oy Ab
• Dur-A-Lift, Inc
• Elliott Equipment Company
• Toyota Industries Corporation 
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report