Global Boom Trucks Market Overview (2024–2030)
The Global Boom Trucks Market was valued at USD 2.34 billion in 2023 and is anticipated to reach USD 3.40 billion by 2030, growing at a CAGR of 5.5% during the forecast period. Boom trucks, equipped with telescopic boom cranes, are versatile vehicles used to lift personnel, freight, and equipment in sectors such as construction, logistics, utility, and telecommunications. Their ability to perform safe and efficient lifting tasks has made them indispensable for modern infrastructure and industrial projects.
Market Dynamics
The boom trucks market is being driven by growing investments from both government and private sectors in construction and infrastructure development. Urbanization and the rising demand for residential and commercial buildings, industrial facilities, and smart cities contribute significantly to market growth. Boom trucks provide a reliable solution for high-rise inspections, concrete pumping, loading and unloading materials, and specialized tasks such as tree pruning near power lines.
Equipment rental services are becoming increasingly popular, as they reduce the high upfront costs associated with purchasing boom trucks. Renting also offers benefits like insurance coverage, licensing compliance, and access to specialized features tailored to project needs.
However, the shortage of trained operators and the high initial procurement costs in some regions pose challenges to market expansion, prompting demand for leasing and operator training programs.
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Segmentation Analysis
By Product: Boom trucks and bucket trucks, with bucket trucks accounting for over 50% of the market in 2023 due to applications in telecommunication, utility maintenance, and agriculture.
By Vehicle Class: Class 4 and 5 truck cranes are gaining traction for their fuel efficiency, high torque, and advanced control systems. Light-duty bucket trucks are frequently used in firefighting and small-scale construction.
By Application: Construction, utility, telecommunications, and rental segments. Rising adoption in rental fleets allows companies to optimize project costs while accessing modern features.
Regional Insights
Europe: Expected to grow at a CAGR of over 5%, driven by a robust real estate sector, government infrastructure spending, and stringent safety standards.
North America: Growth fueled by the expansion of construction and utility industries, with major players like Altec Inc., Manitowoc Cranes, Manitex Inc., and Versalift operating in the region.
Asia Pacific: Rising industrial and infrastructure investments, particularly in China and India, are boosting demand.
Middle East & Africa and South America: Moderate growth driven by urbanization and infrastructure development.
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Competitive Landscape
1. Load King
2. Manitex Inc.
3. Manitowoc Cranes
4. Palfinger AG
5. Bronto Skylift
6. CTE Group SPA
7. Aichi Corporation
8. Altec Inc.
9. Axion Lift
10. Tadano Ltd.
11. Link Belt Cranes
12. Dur-A-Lift, Inc.
13. Elliott Equipment Co
14. Henan Symmen Machinery Co., LTD.
15. Ruthmann GmbH
16. Terex Corporation
17. Versalift
Market Outlook
The boom trucks market is poised for steady growth due to:
Rising construction, utility, and telecommunication projects.
Increasing adoption of rental services and leasing models.
Technological innovations in safety, lifting capacity, and fuel efficiency.
Growing demand for versatile, reliable, and cost-effective lifting equipment globally.
With continued investments in urbanization and infrastructure development, the market offers significant opportunities for both established manufacturers and new entrants.
