Boom Trucks Market | Business Scope for the Forecast period 2025
Category: #business  By Rahul Varpe  Date: 2020-10-14
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Boom Trucks Market | Business Scope for the Forecast period 2025

Increasing investments towards infrastructure development across the globe may drive boom trucks market outlook. A boom truck offers hoisting capability of a small crane along with towing and travel capacity of a flatbed truck surface. When it is attached to a man-basket, it efficiently acts as a hoist to safely lift workers over hundred feet or more at worksite. Due to the equipment’s versatility, it is widely used at large construction sites to access remote locations and for carrying heavy materials to elevated heights.

Rapidly evolving telecom industry is in constant need of cranes for new project development and replacement of old plants. Increasing demand for truck-mounted cranes from the telecom and utility sectors is likely to bolster the need for these vehicles in the coming years. Global boom trucks market size is anticipated to reach US$3.5 billion in annual revenues by the end of 2025.

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Growing product demand has further prompted manufacturers to offer advanced options in diesel, hybrid and electric-powered boom trucks. The electric boom trucks offer various advantages such as automatic charging for continuous machine operation and optimum reach in congested sites. The equipment manufacturers are heavily investing in developing products with high weight carrying capacities and maximum reaching capabilities to offer efficient performance for application in several industries.

Hybrid bucket trucks are witnessing high demand from street lighting contractors for replacement of fleets and maintenance applications. The high adoption rate of hybrid bucket trucks can be attributed to low noise and reduced fuel consumption. Class 6 trucks are also gaining immense popularity due to beneficial product attributes like tight turning radius and high mileage.

These trucks are majorly used for lifting and carrying lightweight equipment and materials across utility and construction sectors. Class 6 trucks are also used in telecom sector for lifting technicians at elevated heights for wire replacement or other maintenance operations. In a bid to improve operational productivity and efficient transportation of heavy equipment and machinery at construction sites, construction companies, government as well as private contractors are deploying this equipment.

Rapid proliferation of the construction industry in many countries including the UAE and Saudi Arabia is resulting in increased deployment for boom trucks. Moreover, rise in number of high-rise construction projects in the U.K. and China will further boost the demand for technologically advanced bucket trucks with the maximum reaching capacities and highest safety.

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Latin America boom truck market is anticipated to gain major traction over next few years. The utility industry across the region is investing heavily in modernizing the grid along with upgrading existing aging infrastructure. Brazil is among the largest renewable energy and electricity markets across the region and the growing utility applications will boost the vehicle adoption.

According to the ETA (International Trade Association) the Brazilian electric power sector is estimated to receive investments of around US$95 billion by the end of 2026. A growth in government spending for the development of basic infrastructure facilities including railway stations, metro stations and airports across the region will create avenues for industry growth.

 

 

 

 

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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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