Boom Truck Market to Grow with a CAGR of 6.02% through 2030
Rising demand for utility infrastructure development,
increased construction activities, and growing adoption in maintenance
operations are the factors driving the market in the forecast period 2026–2030.
According to TechSci Research report, “Boom Truck
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F”,
The Global Boom Truck Market was valued at USD 3.50 Billion in 2024 and is
expected to reach USD 4.97 Billion by 2030 with a CAGR of 6.02% during the
forecast period.
The global boom truck market is witnessing robust growth,
driven by the increasing need for versatile and mobile lifting solutions in
various industries, including construction, utilities, and municipal services.
As projects become more complex and demand for efficient, adaptable equipment
rises, boom trucks offer an ideal solution by providing high lifting
capacities, mobility, and reach, all in a compact and easy-to-operate form. The
growing trend of vertical construction, along with the expansion of utility
networks globally, is boosting the demand for boom trucks, which are
particularly valued for their ability to navigate tight spaces and reach
elevated work sites without the need for additional equipment.
One of the key factors propelling the market is the adoption
of environmentally sustainable solutions. Manufacturers are increasingly
focusing on developing boom trucks that reduce fuel consumption and meet
stricter emission standards. Innovations in hybrid and electric-powered boom
trucks are gaining traction, providing an eco-friendlier alternative to
traditional fuel-powered models. These advancements align with broader industry
trends toward sustainability and regulatory compliance, appealing to environmentally
conscious companies seeking to reduce their carbon footprint.
Another important driver is the shift towards equipment
rental services. Many small and medium-sized enterprises, which may not have
the capital to purchase boom trucks outright, are turning to rental services to
meet their operational needs. This trend not only allows businesses to access
high-quality, modern equipment but also provides flexibility and cost savings
in terms of maintenance and storage. The rising preference for renting, coupled
with the benefits of fleet-sharing and access to state-of-the-art machinery, is
accelerating the adoption of boom trucks across various sectors.
Despite the favorable market conditions, the boom truck
industry faces several challenges. High acquisition costs, coupled with
maintenance and repair expenses, remain significant hurdles for many
businesses. In addition, a shortage of skilled operators with the necessary
certifications to safely operate these advanced machines presents a challenge,
especially in regions where training infrastructure is limited. Moreover, the
global supply chain disruptions, fluctuations in material prices, and delays in
component sourcing can impact the availability and delivery of boom trucks,
affecting project timelines. However, the ongoing push for technological
advancements, such as the integration of IoT, predictive maintenance systems,
and enhanced safety features, offers substantial opportunities for market
players to address these issues and enhance operational efficiency.
Browse over XX market data Figures spread through XX Pages
and an in-depth TOC on "Boom Truck Market"
Boom Truck Market Is Segmented by Mount, Lifting
Capacity, Boom Length, Application, and By Region.
In 2024, the Rear Mount boom truck segment experienced the
fastest growth globally. This configuration positions the boom at the rear of
the chassis, offering enhanced stability and improved weight distribution,
which is particularly beneficial for lifting heavy loads and operating in
confined spaces. The rear mount design allows for a more compact vehicle
profile, facilitating easier maneuverability in urban environments and reducing
the overall vehicle length. This design is increasingly favored in applications
requiring high lifting capacities and precision, such as high-rise
construction, maintenance of overhead utilities, and installation of large
signage. The growing demand for versatile and efficient lifting solutions in
various industries has driven the adoption of rear mount boom trucks,
contributing to their rapid market expansion.
The Asia Pacific region has emerged as the fastest-growing
market for boom trucks in 2024, driven by rapid urbanization,
industrialization, and significant infrastructure development across countries
like China, India, and Japan. The Asian Development Bank projects that Asian
countries will need to invest around USD 26 trillion in infrastructure by 2030
to maintain growth momentum. This massive investment is fueling demand for
efficient lifting equipment, with boom trucks playing a crucial role in construction,
utility maintenance, and telecommunications sectors. The region's expanding
smart city initiatives and renewable energy projects further contribute to the
increasing adoption of boom trucks, positioning Asia Pacific as a key driver of
global market growth.
Major Market Players Operating in Global Boom Truck
Market Are:
- The
Manitowoc Company, Inc.
- Fassi
Gru S.p.A.
- Elliott
Equipment Company
- Altec
Industries
- Manitex
International, Inc.
- Terex
Corporation
- Palfinger
AG
- Tadano
Ltd.
- Load
King
- QMC
Building Cranes
Download Free Sample Report
Customers can also request for 10% free customization
on this report.
Boom trucks are becoming a key part of many industries
today, especially with the growing demand for efficient, high-reach solutions.
Whether it's construction, utilities, or maintenance work, these trucks are a
game-changer. As more businesses look for cost-effective, versatile equipment,
the boom truck market is really starting to take off. It's exciting to see how
innovation, like electric models and smart features, is shaping the future of
this market and making operations safer and more efficient”, according to Mr.
Karan Chechi, Research Director of TechSci Research, a global research-based
management consulting firm.
Boom Truck Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Mount (Behind the Cab, Rear Mount, Swing Seat), By Lifting Capacity (below 10 MT, 10-30 MT, 30-50 MT, above 50 MT), By Boom Length (below 20m, 20-30m, 31-40m, above 40m), By Application (Construction, Power & Utility, Industrial/ Petrochemical, Others), By Region & Competition, 2020-2030F”, assesses the market's future growth
potential and provides data on market size, trends, and forecasts. It aims to offer
comprehensive market insights, helping decision-makers make informed investment
choices. The report also highlights emerging trends, key drivers, challenges,
and opportunities in the Global Boom Truck Market.
Contact Us-
TechSci Research
LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
M: +13322586602
Email: [email protected]
Website: www.techsciresearch.com