Boom Trucks Market - Growth Analysis by Regional Manufacturers to 2025
Category: #business  By Rahul Varpe  Date: 2020-01-14
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Boom Trucks Market - Growth Analysis by Regional Manufacturers to 2025

The report on Boom Trucks Market provides thorough knowledge along with complete information pertaining to the boom trucks propose classifications, definitions, applications, industry chain summary, industry policies in addition to plans, product specifications, manufacturing processes, cost structures, etc.

As boom trucks market share is predominantly augmented by construction domain, Asia Pacific belt witnesses a percentage of supremacy in the entire business space. It has been observed that countries like India and China have been increasingly preferring advanced lifting equipment over conventional techniques, which by extension is favoring boom trucks industry growth in these regions.

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Inherently stimulated by incessant product innovations along with increasing requirement of refurbishing the existing power grid infrastructure, boom trucks market size is forecast to exceed a valuation of USD 3.5 billion by 2025.

In the dynamically changing face of construction and telecom sectors, boom trucks market has indeed turned out to be one of the most remunerative business spheres of recent times. The growing requirement of specialized equipment across myriad work sites has stimulated the demand for these customized trucks by leaps and bounds.

The expanding demand for boom trucks has pushed various companies to bring technological modernization in the vehicle design in a bid to widen the application terrain of this marketplace. In this regard, in 2016, Terex, one of the globally acclaimed of boom trucks market giants grabbed most of the headlines with its launch of BT 4792 at CONEXPO 2017.

This innovative stinger class boom truck crane claims to weigh nearly 27.2 tons, with a lifting capacity of almost 21.3 tons. Not just that, this particular group of crane also features a working platform and a cage arrangement structure that has the capacity to support 2 people at a height of 43.8 meter. Terex’s significant initiative aptly validates the exceptional developments that boom trucks market is presently characterized by.

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Regional governmental supports and funding with regards to safe equipment usage is further augmenting the industry trends. Reportedly, Asia Pacific boom trucks market size will register a CAGR of 4% over 2019-2025. Presence of renowned firms like Shanghai Hongxin Equipment Engineering Co. and HERC Rentals is expected to further proliferate the regional industry outlook.

The competitive hierarchy of global boom trucks market is well defined by the participation of regional as well as international players. Amidst the intensely dynamic share battle, advancements in product design is one of the vital parameters underlining the sustainability criteria. The industry players are scrupulously focusing on developing hi-tech equipment that are engineered for ensuring enhanced stability, throughput, and uptime.

Major players operating in the boom truck market include Manitowoc Cranes, Tadano Lift, Palfinger AG, Manitex Inc., Link-Belt Cranes, Elliott Equipment Co., and Altec Inc.. These companies are involved in the development of new machines & accessories for specific capacity and application requirements. For instance, in January 2019, Elliott Equipment Co. announced the launch of its new V60 bucket truck. Companies are also offering machinery on a rental basis due to the increasing demand for rental boom trucks across the globe.

Partial Table of Content of Boom Trucks Market:

Chapter 1. Methodology and Scope

1.1. Definitions & forecast parameters

1.1.1. Definitions

1.1.2. Methodology and forecast parameters

1.2. Data Sources

1.2.1. Secondary

1.2.2. Primary

Chapter 2. Executive Summary

2.1. Boom trucks market 360° synopsis, 2015 – 2025

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Vehicle class trends

2.1.4. Application trends

2.1.5. Regional trends

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Chapter 3. Boom Trucks Market Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 – 2025

3.2.1. Construction equipment market landscape

3.2.1.1. North America

3.2.1.2. Europe

3.2.1.3. Asia Pacific

3.2.1.4. Latin America

3.2.1.5. MEA

3.3. Industry ecosystem analysis

3.3.1. Component suppliers

3.3.2. Manufacturers

3.3.3. Distribution channel analysis

3.3.4. End-use landscape

3.3.5. Vendor matrix

3.4. Technology & innovation landscape

3.4.1. Plug-in hybrid electric vehicles

3.4.2. Battery electric vehicles

3.4.3. Telematics & software systems

3.5. Regulatory landscape

3.5.1.1. International

3.5.1.1.1. ISO 4310

3.5.1.1.2. ISO 10245-1:2008

3.5.1.1.3. ISO 12480-1

3.5.1.1.4. ISO 23815-1

3.5.1.2. North America

3.5.1.2.1. OSHA 29 CFR 1926.21

3.5.1.2.2. The Scaffold & Access Industry Association

3.5.1.2.3. ANSI/SAIA A92.2-2015

3.5.1.2.4. ANSI/SAIA A92.5-2006 (R2014)

3.5.1.2.5. Canadian Standards Association, CSA C225-00

3.5.1.2.6. Canadian Standards Association, CSA C225-00

3.5.1.3. Europe

3.5.1.3.1. European emission regulations

3.5.1.3.2. EN280:2013

3.5.1.3.3. Provision and Use of Work Equipment Regulations (PUWER)

3.5.1.3.4. European Community Whole Vehicle Type Approval (EC WVTA)

3.5.1.3.5. Air Quality Certificate

3.5.1.3.6. EurAsian Conformity Mark (EAC)

3.5.1.3.7. European Union Standards

3.5.1.3.8. Emission Controls Standards

3.5.1.4. Asia Pacific

3.5.1.4.1. NTPC

3.5.1.4.2. The International Council on Clean Transportation

3.5.1.4.3. Indian Emission Standards

3.5.1.4.4. Japanese Air Quality Standards

3.5.1.5. Latin America

3.5.1.5.1. NR12

3.5.1.6. MEA

3.5.1.6.1. Occupational Health & Safety Act, 1993

3.5.1.6.2. Driven machinery regulations, 2011

3.5.1.6.3. The South African Bureau of Standards (SABS)

3.5.1.6.4. ZABS (ZS 385)

3.5.1.6.5. OSH Regulations

3.5.1.6.6. GCC Standardization Organization - GSO 42:2015

3.6. Industry impact forces

3.6.1. Growth drivers

3.6.1.1. Increasing infrastructure investments globally

3.6.1.2. Rising installation of displays and banners globally

3.6.1.3. Increasing rate of urbanization in the U.S.

3.6.1.4. Utility infrastructure transformation in Europe

3.6.1.5. Upgradation of power grids in India

3.6.1.6. Increasing infrastructure and industrial projects in Russia

3.6.1.7. Rising demand for lifting equipment from BRIC countries

3.6.1.8. Growing demand for bucket trucks in China and Japan

3.6.1.9. Rapid urbanization in Southern African countries

3.6.1.10. Proliferation of the construction industry in Middle East

3.6.2. Industry pitfalls & challenges

3.6.2.1. High initial cost

3.6.2.2. Costs associated with maintenance

3.6.2.3. Lack of trained operators

3.7. Growth potential analysis

3.8. Porter's analysis

3.8.1. Supplier power

3.8.2. Buyer power

3.8.3. Threat of new entrants

3.8.4. Threat of substitutes

3.8.5. Internal rivalry

3.9. Competitive landscape, 2018

3.9.1. Company market share analysis

3.9.2. Strategy dashboard (New product development, M&A, R&D, Investment landscape)

3.10. PESTEL analysis

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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