Press release
Boom Trucks Market to Reach USD 9.6 Billion by 2035, Driven by Global Construction Boom and Technological Advancements
The global boom trucks market, valued at USD 5.9 billion in 2025, is projected to grow to USD 9.6 billion by 2035, achieving a CAGR of 5.0%. This growth is driven by surging demand in construction, utility, and oil and gas sectors, coupled with advancements in hydraulic systems, IoT integration, and sustainable designs.
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Key Market Drivers
The boom trucks market is propelled by rapid global infrastructure development, particularly in emerging economies, where urbanization and large-scale projects demand versatile lifting equipment. Boom trucks' ability to combine mobility with heavy lifting makes them indispensable for construction, utility maintenance, and oil and gas operations. Stringent safety regulations are pushing adoption of reliable equipment, while technological innovations-such as advanced hydraulics, IoT for remote monitoring, and zero-emission models-enhance efficiency and reduce costs. The utility sector's need for maintaining power lines and streetlights, alongside oil and gas exploration, further fuels demand for specialized boom trucks.
Segmentation Insights: Product Type, Lifting Capacity, Boom Length, and Application
The market is segmented by product type (Behind the Cab Mount, Rear Mount, Swing Seat), lifting capacity (Less than 10 to More than 50 Metric Tons), boom length (Less than 20m to More than 40m), and application (Infrastructure, Commercial Construction, Power & Utility, Industrial/Petrochemical, Residential). Behind-the-cab mount dominates due to its space efficiency and maneuverability, ideal for urban settings. The 10-20 metric ton segment leads lifting capacity, driven by its versatility in medium-sized projects. Boom trucks under 20 meters dominate for their suitability in confined spaces, while infrastructure applications hold the largest share due to global construction demand. Commercial construction is a fast-growing segment, fueled by urban development and green building trends.
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Regional Market Dynamics
North America, led by the U.S., holds the largest market share, driven by infrastructure investments, urbanization, and advancements in boom truck technology. The U.S. benefits from semiconductor and biopharma expansion, with strong demand in construction and utilities. Asia-Pacific, particularly China, India, and Japan, is the fastest-growing region, with China contributing over one-third of regional revenue due to government-led infrastructure and smart city projects. Europe sees steady growth, with Germany, France, and the UK emphasizing eco-friendly and hybrid models. Latin America is emerging, with Brazil and Mexico seeing growth in rental markets and utility applications. Middle East & Africa shows potential in oil and gas and smart city projects like Saudi Arabia's NEOM.
Competitive Landscape and Key Players
Key players include The Manitowoc Company, Inc., Fassi Gru S.p.A., Elliott Equipment Company, Altec Industries, Manitex International, Inc., Palfinger AG, Tadano Ltd., Load King, and QMC Building Cranes. Recent developments include Utilities' launch of zero-emission bucket trucks with Mack Trucks in February 2025 and Tadano's acquisition of Manitex International in January 2025, expanding its global portfolio. Chinese manufacturers like Hyva are introducing cost-competitive, high-precision cranes, such as the HST8 E4, HST12 E4, and HST14 E4, enhancing market competition.
Industry Trends and Innovations
Technological advancements, including IoT-enabled remote monitoring, advanced hydraulic systems, and zero-emission models, are transforming the market. China's focus on sustainability and automation is evident in new launches like Hyva's cranes with high-speed winches and proportional control valves. Japan's emphasis on precision engineering and Tadano's acquisitions highlight innovation in high-performance models. The shift toward hybrid and electric boom trucks aligns with global environmental regulations, while rental markets in Latin America and Asia-Pacific are expanding to meet cost-conscious demand.
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Challenges and Future Outlook
Challenges include high initial and maintenance costs, a shortage of skilled operators, and compliance with complex transportation regulations, such as axle weight limits and permit requirements. Economic fluctuations and raw material price volatility can impact construction activity, while alternative lifting solutions like aerial platforms compete in certain applications. However, ongoing urbanization, infrastructure modernization, and technological advancements are expected to drive robust growth through 2035, with increasing adoption of sustainable and automated boom trucks.
Check Out More Related Studies Published by Fact.MR:
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https://www.factmr.com/report/2169/truck-crane-market
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https://www.factmr.com/report/700/lift-trucks-market
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