Bucket Trucks Market To See Major Growth By 2026

Growing adoption of modern aerial lifting equipment in the utility and construction sectors is anticipated to drive bucket trucks market size over the forecast period. Factors like high capability, powerful engines and operability with green fuel are driving vehicle demand worldwide. Moreover, the need for safe and efficient lifting machines that lower changes of potential fatalities at work sites are furthering the preference of bucket trucks, driving overall market growth.

However, the ongoing coronavirus pandemic has negatively impacted sales and manufacturing of the bucket trucks. Reduced sales figures and temporary shutdown of production sites has led to huge business losses. Stagnant repair and maintenance activities across infrastructural projects has majorly impacted industry growth, with conditions likely to remain the same in 2021.

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Nevertheless, recovery of the telecommunication and construction sectors following gradual removal of lockdown restrictions may improvement the growth dynamics of bucket trucks market during the forecast timeframe. Tthe bucket trucks market size is anticipated to exceed USD 1.5 billion by 2026. 

Technical improvements and the adoption of more sustainable, low polluting fuel options across all the product types is expected to boost market size. Truck manufacturers are focusing on making advanced vehicle segments in order to support research and development activities across various operating regions.

Based on application, the bucket trucks market is divided into telecommunication, utility (water and electric), forestry and construction. Of these, the popularity of bucket trucks in the utility sector is growing exponentially owing to the increasing vehicle use in maintenance and installation activities. Availability of electric and standard compliant engine-based trucks may propel their use in the government sector. Bucket trucks are also used by electricity companies in order to reduce fatalities and ensure maximum safety for workers.

Geographically speaking, the adoption of bucket trucks in North America and Europe is rapidly growing due to the increasing demand for repair and maintenance operations from public and private industries. In North America, bucket trucks are widely used across the telecommunications, construction and utility sectors owing to a high usage of machines and availability of low labor.

Furthermore, the bucket trucks market is anticipated to grow over the coming years in the U.S. owing to the presence of many major manufacturers in the region which has increased consumer awareness and the easy availability of bucket trucks. In 2018, Manitex International, Inc., announced the expansion of its existing boom truck and articulating crane supply network to encompass Southwest Products along with its manufacturing facilities in Arizona.

On a global scale, the competitive landscape of the bucket trucks market consists of companies such as Manitex International, Aichi Corporation, Tadano Ltd., and Palfinger AG. These companies are focusing on technical advancements and new product development to enhance their position in the market.

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Manufacturers are investing in research and development activities focused on highly efficient equipment and are adding new software for handling equipment. In 2019, Manitowoc launched its new NBT60L bucket truck designed specifically for the utility and oil & gas sectors.

ToC:

Chapter 3    Bucket Truck Industry Insights

3.1    Industry segmentation

3.2    Impact analysis of COVID-19 pandemic

3.2.1    Global outlook

3.2.2    Impact by region

3.2.2.1    North America

3.2.2.2    Europe

3.2.2.3    Asia Pacific

3.2.2.4    Latin America

3.2.2.5    MEA

3.2.3    Industry value chain

3.2.4    Competitive landscape

3.3    Industry ecosystem analysis

3.3.1    Distribution channel analysis

3.3.2    Vendor matrix

3.4    Technological and innovation landscape

3.4.1    Plug-in hybrid electric vehicle

3.4.2    Battery electric vehicle

3.5    Regulatory landscape

3.5.1    North America

3.5.1.1    U.S.

3.5.1.1.1    OSHA 29 CFR 1926.21

3.5.1.1.2    The Scaffold & Access Industry Association

3.5.1.1.3    ANSI/SAIA A92.2-2015

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

3.5.1.2    Canada

3.5.1.2.1    Canadian Standards Association, CSA C225-00

3.5.1.2.2    Canadian Standards Association, CSA C225-00

3.5.2    Europe

3.5.2.1    European emission regulations

3.5.2.2    EN280:2013

3.5.2.3    Provision and Use of Work Equipment Regulations (PUWER)

3.5.2.4    UK

3.5.2.4.1    European Community Whole Vehicle Type Approval (EC WVTA)

3.5.2.5    France

3.5.2.5.1    Air Quality Certificate

3.5.2.6    Russia

3.5.2.6.1    EurAsian Conformity Mark (EAC)

3.5.2.6.2    European Union Standards

3.5.2.6.3    Emission Controls Standards

3.5.3    Asia Pacific

3.5.3.1    NTPC

3.5.3.2    China

3.5.3.2.1    The International Council on Clean Transportation

3.5.3.3    India

3.5.3.3.1    Emission Standards

3.5.3.4    Japan

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