Global Boom Truck Market

Global Boom Truck Market Research Report: Information, by Capacity (Up to 15 Tons, 15 Tons–25 Tons, 25 Tons–35 Tons and Above 35 Tons), Application (Construction, Utilities, Industries and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2024

Global boom truck market was valued at USD 1,378.3 million, which is expected to witness 5.4% CAGR during the forecast period. The base year considered for the study of the market is 2018 and the forecast period for the global boom truck market is 2019 to 2024.

Market Highlights

The global boom truck market is anticipated to witness exponential growth owing to the growing oil & gas industry and the increasing government support for construction activities. Manufacturers associated with the construction machinery industry are tapping into lucrative opportunities by upgrading the power grids in their respective models of boom trucks. The upgrade of power grids will lead to an increased demand for boom truck cranes to strengthen the infrastructure for power grids. Additionally, the transmission & distribution network is expected to grow to connect to remote renewable energy generation sites, increasing the demand for boom truck cranes, globally. Thus, the upgrade of existing power grids is one of the major opportunities for key players in the global boom truck crane market.

Key Players

Manitex International Inc. (US)
Manitowoc (US)
Elliott Equipment Company (US)
Fassi Gru S.p.A. (Italy)
Liebherr-International AG (Switzerland)
XCMG Group (China)
Load King (US)
Tadano Ltd (Japan)
Altec Industries (US)

The construction segment accounted for the largest market share in the global boom truck market

On the basis of application, the construction segment accounted for the largest market share in 2018, which is expected to retain its position by 2024. This can be attributed to the growing population in emerging economies, such as China, India, and Brazil, which drives the demand for residential and commercial buildings. Hence, the construction segment is anticipated to experience significant growth during the forecast period.

Scope of the Report

This study provides an overview of the global boom truck industry, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific, and the rest of the world. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global boom truck market by type, application, and region.

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