Bucket Trucks Market Top Key Players - Manitowoc Cranes, Manitex International Inc., Altec Inc., Elliott Equipment Company, Tadano Ltd., Palfinger AG, Aichi Corporation, Link Belt, Versalift, CTE group SPA, Tadano Ltd.
They are extensively employed in many different industries, including the management of vegetation, lighting, signage, and telecommunications. For a variety of tasks, including lifting personnel to pump concrete, inspecting and maintaining high-rise structures and buildings, and loading and unloading freight from warehouses or other trucks, bucket trucks are in high demand.
During the projected period, the market for bucket trucks is anticipated to grow at a CAGR of 4.2%. The market is expanding primarily as a result of the growing demand for bucket trucks in the utility, telecommunications, and power transmission industries.
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Global urbanisation and rapid industrialisation have increased the need for new infrastructure construction. This has prompted a rise in the use of bucket trucks. Additionally, massive amounts of money are being spent by governments and the private sector globally on building infrastructure, which is further boosting the market's expansion. The amount that regional governments are investing to improve the current infrastructure is increasing as part of their smart city plans. Singapore, for instance, declared plans to invest $1 billion in a smart city effort in 2021.
Additionally, the flexibility and height-adjustability of the platform provided by bucket trucks enables workers in the utilities and construction sectors to carry out their duties more safely and effectively. It is a dependable and secure substitute for ladders and scaffoldings that are used for building or maintenance tasks at high elevations. This element has a considerable impact on bucket truck demand.
However, the high price required to buy these trucks may restrain market expansion to some extent throughout the projection year. The utilisation of premium parts and pneumatic components contributes to the high price of these trucks. Due to the high cost of buying new bucket trucks, a growing number of participants in the construction industry prefer to use rented or used equipment, which poses a challenge to the market's expansion. On the other side, rising infrastructure spending in developing nations like China, Brazil, and India opens up attractive market expansion prospects.
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BUCKET TRUCKS MARKET SEGMENTATION:
By Lifting Capacity:
• < 500 Kg
• 500 - 1000 Kg
• > 1000 Kg
By Insulation Type:
• Utility [Electric, Water]
• North America
• Latin America
• Asia Pacific
• Middle East & Africa
FEW KEY PLAYERS IN BUCKET TRUCKS MARKET:
• Manitowoc Cranes
• Manitex International Inc.
• Altec Inc.
• Elliott Equipment Company
• Tadano Ltd.
• Palfinger AG
• Aichi Corporation
• Link Belt
• CTE group SPA
• Tadano Ltd.
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