Report ID: SQMIG20G2047
Boom Truck Market Size, Share, Growth Analysis, By Product(Boom Trucks, Bucket Trucks), By Vehicle Class(Class 4, Class 5, Class 6, Class 7), By Application(Rental, Construction, Utility, Telecommunication), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20G2047 |
Region:
Global |
Published Date: March, 2024
Pages:
158
|
Tables:
93 |
Figures:
72
Boom Truck Market Insights
Global Boom Truck Market size was valued at USD 2.2 billion in 2022 and is poised to grow from USD 2.32 billion in 2023 to USD 3.56 billion by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).
Boom trucks are basically trucks with mounted cranes on them and they function as mobile cranes for different types of industry verticals. Rapid surge in investments in infrastructure development around the world is the key factor driving sales of boom trucks over the coming years. Increasing use of boom trucks by utility companies to improve the safety of workers is also slated to benefit market growth in the future. Growing rate of urbanization and industrialization in different parts of the world will also influence the sales of boom trucks across the forecast period and beyond. Moreover, the rapidly expanding heavy equipment rental and leasing industry is also estimated to create new opportunities for boom truck suppliers going forward. On the contrary, the high costs of boom trucks are estimated to impede boom truck market development through 2031.
Boom Truck Market Report Snapshots
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