Bucket Trucks Market To Reach US$ 1,872.4 Million By The End Of 2032

According to Fact.MR, a market research and competitive intelligence provider, the global bucket trucks market is estimated at US$ 1,333.6 million in 2022 and is expected to expand at an impressive CAGR of 3.5% during the forecast years of 2022-2032.

With the bourgeoning number of manufacturers come into the market, the level of competition is likely to grow. This will directly affect the performance of bucket truck considerably, which, in turn change the market share of different companies.

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The global upswing in economic activity is projected to rise substantially in the forthcoming years. Growth of manufacturing sector across the world reflecting increased global growth momentum and expects considerable impact on other bucket trucks market.

With rapid urbanization primarily taking place in developing countries, an economic development and the growth of nations are inextricably connected. Uncontrolled rapid urbanization presents growth opportunities as well as various challenges for the bucket trucks market.

Key Takeaways from Market Study

• The global bucket trucks market is projected to expand at an impressive CAGR of 3.5% and be valued at US$ 1,872.4 million by 2032.
• The market witnessed 2.8% CAGR for the period of 2017-2021.
• Under type, articulated bucket trucks dominate the market and are valued at US$ 868 million in 2021.
• North America and Europe dominated the market with combine 68.4% market share in 2021.
• Under lifting capacity, above 1000 Kg is likely to represent 42.4% market share in 2022.
• Based on insulation type, demand for non-insulated bucket trucks is expected to reach the market value of US$ 925.2 million in 2021.

"In the foreseeable future, hybrid bucket trucks are likely to become dominant with gain in 414 BPS by 2032" says a Fact.MR analyst.

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Competitive Landscape

The world's leading manufacturers of bucket trucks products are employing sustainable technologies and optimization systems for diverse end users. Key manufacturers are focusing on developing new product designs to address problems in terms of product placement in harsh operating environments.
Moreover, expertise and professionalism in planning, designing, and providing minimum maintenance cost are at the backbone of their marketing strategies.
• In Jan.2021, Bucket truck manufacturer Versalift Parent Time manufacturing company announced that it has agreed to acquire Ruthmann, a European manufacturer of aerial work platforms. The deal is expected to close in Q1 2021. Ruthmann is headquartered in Gescher-Hochmoor, Germany. The company has a long history of manufacturing high-quality, truck-mounted aerial work platforms
• In Jan.2019, Tando Limited acquired Demag GmbH Mobile Cranes Business, which is a Germany-based company. Through this acquisition, the company seeks to meet the needs of a wide range of customers with the addition of new crawler cranes to its product lineup.

Fact.MR has provided detailed information about the price points of key manufacturers of bucket trucks positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Key Companies Profiled

• Tadano Limited
• TIME Manufacturing Company, Inc.
• AICHI Corporation
• Manitex International, Inc.
• Palfinger AG
• The Manitowoc Company
• Altec Industries
• Socage S.R.L
• CTE Group

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Segmentation of Bucket Trucks Industry Research

• · By Lifting Capacity:
• < 500 Kg
• 500 - 1000 Kg
• > 1000 Kg
· By Type:
• Articulated
• Telescopic
· By Model:
• Standard
• Hybrid
· By Insulation Type:
• Insulated
• Non-insulated
· By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

Check out more related studies published by Fact.MR Research: https://www.globenewswire.com/en/news-release/2022/09/22/2521071/0/en/Aerospace-Filter-Industry-to-Surpass-US-2-964-49-Million-by-2032-Military-Aviation-to-Possess-48-Market-Share-Fact-MR-Report.html

Market Development

Prominent manufacturer, suppliers are poised to enhance product efficiency and focus on incorporation of new environmentally-conscious technologies. Along with this, the companies are fine-tuning their expansion strategy, product portfolio strategy, and mergers with regional rental companies and distributors to expand their business footprint.

In the developed countries, players are specifically are adopting long lasting and increased durability approach with strong focus on quality. The companies have been significantly growing their fleet over the last few years against the backdrop of growing demand. Hefty investments enable them to reach out to new countries thereby, enhancing geographic footprint.

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This release was published on openPR.