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.
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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.
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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.
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Boom Truck Market Report Highlights
| Aspects | Details |
|---|---|
| By Application | RentalConstructionUtilityTelecommunication |
| By Product | Boom Truck CranesBelow 10 Metric TonsAbove 50 Metric Tons |
| By Region | North America (U.S., Canada, Mexico)Europe (France, Germany, UK, Russia, Rest of Europe)Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)LAMEA (Latin America, MIddle East, Africa) |
| Key Market Players | Load King, Manitex Inc., Manitowoc Cranes, Palfinger AG, Bronto Skylift, CTE Group SPA, Aichi Corporation, Altec Inc., Axion Lift, Tadano Ltd. |
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