Press release
Current Growth Analysis of Bucket Trucks Market by Terex Corporation, Altec, PALFINGER Group, Elliott Equipment Company
Bucket Trucks Market
Increasing demand for insulated trucks from the utility sector is anticipated to contribute to the bucket trucks market growth. These trucks are used in the utility sector for safely placing the linemen to great heights to manage, maintain, and enhance the overall electrical power distribution network. The flow of electricity into the boom can electrocute the truck operator and can even damage the equipment. The lower and upper sections of the bucket trucks are insulated using a fiberglass coating that prevents electricity from flowing into the platform.
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Bucket Trucks market is projected to exceed USD 1 billion by 2024. The booming telecommunication sector globally will provide ample growth opportunities for the market. Several countries are trying to expand their existing telecommunication sector. The sturdy structure of bucket trucks and the wide variety of designs available make this equipment a convenient option for applications in the telecommunication sector.
Increasing number of smartphones and the need for improved telecom infrastructure for enhanced connectivity are further propelling the bucket trucks market growth. Furthermore, there is a rising utilization of bucket trucks by tree-care workers to travel to the project site easily and for trimming away branches & limbs from power lines. The insulated lift in the bucket trucks provides protection and protection to workers from electrical hazards.
Key players in the bucket trucks market include:
• Versalift
• Socage S.R.L.
• Palfinger AG
• Terex Corporation
• CTE Group
• Dur-A-Lift Inc.
• Tadano Corporation
• Altec Corporation
Major players are trying to incorporate advanced technologies in these trucks to enhance the operator safety and are stressing about providing online & onsite training courses. These players are also trying to expand their distributor network to strengthen the bucket trucks market presence.
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The construction sector is witnessing growth owing to the rapid urbanization in several regions in Asia Pacific, Europe, and the Middle East & Africa, thereby propelling the demand for these trucks. Stringent government regulations focusing on fostering a healthy working environment at workplaces are compelling construction companies to incorporate technologically-advanced machines for construction activities contributing to the bucket trucks market growth.
Bucket Trucks market is expected to witness growth with the growing demand from the energy, power, and the telecom sectors. Several government organizations are refurbishing the existing infrastructure for the overall economic development. Insulated trucks are gaining importance as they offer enhanced safety & security in jobs related to power grids.
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