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Boom Truck Market by Application (Rental, Construction, Utility and Telecommunication) and Product (Boom Truck Cranes, Below 10 Metric Tons and Above 50 Metric Tons): Global Opportunity Analysis and Industry Forecast, 2021–2027

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Sep 2020 | 145 Views
 
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Boom Truck Market Outlook - 2027

Boom trucks are mounted with telescopic boom crane equipment to lift cargo or workers in applications such as logistics, maintenance, and construction. These boom trucks possess a variety of specifications such as lifting capacity, lifting reach, payload, hauling capacity, trim branches away from highway signs, power lines, and roofs. They are majorly used to lift workers for maintenance & inspection of high-rise structures & buildings, pumping concrete, and loading & unloading cargo from warehouses & other trucks. Increase in urbanization in many developing countries is expected to fuel the boom truck market growth over the forecast period.

 

Market scope and structure analysis:

                  Report Metric

                                                   Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast unit

  Value (USD)

  Segments covered

  Application and Product

  Regions covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa

  Companies covered

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

 

COVID-19 scenario analysis:

  • The transportation industry has completely been shut due to the pandemic, which has created new challenges for cargo and production houses to shift their goods from one place to another.
  • The fear of spreading COVID-19 among workers has allegedly forced workers not to operate in infected places or cities.
  • The Original Equipment Manufacturers (OEMs) have been severely affected in this pandemic. 
  • The spread of the virus has created huge issues for the transportation department and companies have to ensure new methods to protect their employees from getting infected.
  • After the lockdown eases, transporting companies have to come up with new rules & regulations to face these difficult situations. 

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis 

Rise in demand from end-user industries and increase in infrastructure investments globally are the key factors that drive the boom truck market globally. However, high initial cost and maintenance cost are expected to restrain the growth of the market. Furthermore, increase in the number of trained operators is projected to provide lucrative opportunities for the boom truck market.

The boom truck market trends are as follows:

Rise in demand from end-user industries 

The demand for automation and upgraded machinery has significantly grown in the last few decades by many developed industries to improve productivity. Many companies implement automated machinery to enhance their services and to maintain a good level of sustainability in the market. Therefore, this is further expected to boost the boom truck market over the forecast period.

Increase in infrastructure investments globally 

Governments globally are getting more concerned about their infrastructure and trying to enhance it to attract international tourism, promote economic recoveries, etc. Increase in investments in many developing countries, such as Brazil, China, and India, created significant market opportunities for the boom truck market. Therefore, this is expected to further boost the growth of the market over the forecast period.

Key segments covered:

            Segments

                        Sub-segments

  Application

  • Rental
  • Construction
  • Utility
  • Telecommunication

  Product

  • Boom Truck Cranes
  • Below 10 Metric Tons
  • Above 50 Metric Tons

 

Key benefits of the report:

  • This study presents the analytical depiction of the boom truck market along with current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the boom truck market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the boom truck market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed analysis based on competitive intensity and how the competition will take shape in the coming years. 

Questions answered in the boom truck market research report:

  • Which are the leading market players active in the boom truck market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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