Demand for Boom Trucks Soaring with Rising Popularity of Rental Equipment – Fact.MR Study

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Boom Trucks market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Boom Trucks

The report offers actionable and valuable market insights of Boom Trucks. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Boom Trucks Market across various industries and regions.

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This newly published and insightful report sheds light on Market Insights of Boom Trucks, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Boom Trucks Market.

The global boom trucks market is estimated to witness a moderate CAGR of 5% during the forecast period (2019-2027) and poised to reach a valuation of US$ 1.8 Billion in 2027. The growing demand of boom trucks in numerous end use industries is projected to create plentiful opportunities for the global boom trucks market. Increasing infrastructure spending in developing countries such as Brazil, China and India are creating significant market opportunities.

The increased demand for boom trucks in the telecommunication and service sectors encourages the growth of the market. In the power and utility sector, these forms of equipment are primarily being used to develop new projects and replace old plants.

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Global Boom Trucks Market: In-Depth Assessment on Key Segments

The global boom trucks market is segmented on the basis of product type, lifting capacity, boom length and region.

Product Type	Behind the Cab Mount Rear Mount Swing Seat
Lifting Capacity	Less than 10 Metric Tons 10 – 20 Metric Tons 21 – 30 Metric Tons 31 – 40 Metric Tons 41 – 50 Metric Tons More than 50 Metric Tons
Boom length	Less than 20 m 20-30 m 31-40 m More than 40 m
Application	Infrastructure Commercial Construction Power & Utility Industrial / Petrochemical Residential
Region	North America Latin America Europe APAC MEA

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Leading Boom Trucks Market Players Look Overseas For Business Opportunities

The global boom trucks market is consolidated in nature with primary competitors such as Altec, Manitex and Terex acquiring the top shares. The market for boom trucks is characterized by intense competition between key market players.

Aichi Corporation has highlighted the sales of high-lift aerial work platforms and are setting up manufacturing facilities in Japan and other East Asian countries to benefit from economies of scale and grow their global market shares.

Leading players have channelized efforts in launching products with special features in order to maintain heightened demand for boom trucks. Some of the key developments in the market are:

• In 2019, Manitex International announced the addition of Wyoming Machinery Company and MADISA group to its boom truck crane distribution network
• In 2019, Altec Introduced its 53-Feet Boom Truck Crane with a 60,000-pound maximum lift capacity

Competitors involved in the boom trucks market are also increasingly focusing on providing complete lifecycle support for each equipment in order to optimize output and gain returns on investment.

Key Takeaways from the Boom Trucks Market

• The global boom trucks market is now showing steady growth after the market witnessed depressing sales figures from the traditional oil and energy sectors
• North America leads the global boom trucks market with a revenue share of over 30%. With mushrooming crane rental companies in the region, the sales of boom trucks have been quite high
• The boom trucks market in APAC will witness a growth rate of over 6.5% attributed to the burgeoning capital investments for infrastructure. With a fast-track record of urbanization in countries such as China and India, the demand for boom trucks for construction is increasing
• Equipment manufacturing companies are developing products offering their customers boom trucks with reliable efficiency, and high weight carrying capacity

“The global boom trucks market finds optimism mainly due to infrastructure projects and large rental fleets that were once stagnant. Growing expenditure on infrastructure with increasing demand from end use industries including construction, utility, and telecom remains the prominent factors backing the market” says the Fact.MR analyst.

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More Valuable Insights on Boom Trucks Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Boom Trucks, Sales and Demand of Boom Trucks, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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