Bucket 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 bucket trucks industry growth in these regions. Add to it, regional governmental supports and funding with regards to safe equipment usage is further augmenting the industry trends.
China bucket trucks market is slated to grow at 5% CAGR over 2018-2024. Presence of renowned firms like Shanghai Hongxin Equipment Engineering Co. and HERC Rentals is expected to further proliferate the regional industry outlook.
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Boom Trucks Market, by Type:
Boom Trucks Market, by Application:
In the dynamically changing face of construction and telecom sectors, bucket 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. Incidentally, this 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, last year Terex, one of the globally acclaimed of bucket trucks industry giants grabbed most of the headlines with its launch of BT 4792 at CONEXPO 2017.
The above information is provided on a regional and country basis for the following (changes as per report):
- North America
- Asia Pacific
- Latin America
- South Africa
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Key players operating in the bucket trucks market include:
- Aichi Corporation
- Axion Lift
- Manitex International Inc.
- Terex Corporation
- Palfinger AG
- Socage S.R.L
- Altec Corporation
- CTE Group
Companies are trying to expand their regional presence by acquiring smaller companies and expanding their product portfolio. Stringent regulations pertaining to operator safety are compelling manufacturers in the bucket trucks market to enhance their product portfolio by incorporating advanced safety measures.
The competitive hierarchy of global bucket 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. Inherently stimulated by incessant product innovations along with increasing requirement of refurbishing the existing power grid infrastructure, boom trucks industry size is forecast to exceed a valuation of USD 1.5 billion by 2024.
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