Boom Trucks Market to exceed $500mn by 2024“Boom Trucks Market Size By Application (Utility, Telecommunication, Construction & Logistics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, China, India, Japan, Australia, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”
Boom Trucks Market size is set to exceed USD 500 million by 2024; as per a new research report by Global Market Insights, Inc.
Steady demand generated by applications including heavy and light industrial work such as utility and electrical contracting work, signage and lighting applications coupled with the rapid pace of warehousing and industrialization is driving the boom trucks market. Developments in the utility and telecom sector in the regions including U.S., India, China, UK and France offer ample opportunities to the boom trucks market growth. These regions are witnessing high demand to meet the requirement of utility and construction industry. Increasing investment to improve the infrastructure and rising consumption of electricity across China, and India have also escalated demand.
Rising penetration of anti-idling technology is anticipated to propel the boom trucks market size over the next eight years. The technology is used to reduce the amount of carbon emissions from trucks, which leads to a high percentage of environmental pollution. It shuts off the engine automatically when the equipment is being used but not being driven, and is assessed to deliver emission reduction and limit the environmental pollution and fuel cost significantly. The increasing hybrid boom trucks market size is predicted to offer tremendous growth prospects to the industry.
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Stringent government regulations across the globe associated with the usage of vehicles used for loading and lifting purposes is expected to drive consumption. For instance, U.S. Department of Labor issued a regulation according to which employers are responsible to provide a safe workplace. The regulation is also applied to the power-operated equipment that can lower, hoist and horizontally move a suspended load. Such equipment includes articulating cranes, crawler cranes; cranes on barges; floating cranes; locomotive cranes; and boom trucks.
Browse key industry insights spread across 130 pages with 66 market data tables & 28 figures & charts from the report, “Boom Trucks Market”:-
Key insights from the report include:
•The telecom sector is continuing to be a critical force for innovation, growth and disruption. The segment is witnessing booming growth across the globe, creating demand for heavy equipment such as boom trucks for efficient operations that aids in performing more work in less time in the infrastructure development activities.
•UK boom trucks market will be driven by the increase in demand from companies currently using 20 to 22 meter 3.5-ton truck mounts that do not require much working height. The regional industry is highly price sensitive and the manufacturers are continuously working on offering products with lower price and quality services such as aftersales support for the competitive environment.
•France is among the significant countries in the Europe boom trucks market witnessing steady growth. Increasing demand for vehicle-mounted bucket trucks across telecommunications and utility sector is expected to propel regional growth.
•Industry players operating across the boom trucks market include Manitex International, Elliott Equipment Company, Palfinger, Manitowoc, etc. Manufacturers are focusing on upgrading the equipment to better meet the changing demand across the industry verticals such as utility and telecom. Moreover, frequent mergers and acquisitions have become the prominent expansion strategy. For example, in 2015 Manitex acquired PM Group to expand its product portfolio with the addition of knuckle boom trucks. Furthermore, in November 2016, the company revealed its new 28-meter telescopic truck mounted platform, the P-280B on a 3.5-ton Euro 6 framework.
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Table of contents for Boom Trucks Market is as given below: -
Chapter 1 Methodology & Scope
1.1 Research Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Scope and assumptions
1.2 Data Sources
1.2.1 Primary sources
1.2.2 Secondary sources
Chapter 2 Executive Summary
2.1 Boom trucks industry 3600 synopsis, 2013 - 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Application trends
Chapter 3 Boom Trucks Industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2013 - 2024
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.3.2 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Hybrid boom trucks
3.5 Regulatory landscape
3.5.1 CAN/CSA-Z150-11 Safety code on mobile cranes
3.5.2 CAN/CSA-Z150-11 Safety code on mobile cranes clause 5.4.7 CSA Standard
3.5.3 ANSI/SIA A92.8-1993 (R1998)
3.5.4 Occupational Health And Safety Code
3.7 Investment landscape
3.8 Industry Impact forces
3.8.1 Growth drivers
188.8.131.52 Increasing demand for application specific custom boom trucks
184.108.40.206 Rising demand across several industry verticals
220.127.116.11 Improving infrastructure across the globe
3.8.2 Industry pitfalls & challenges
18.104.22.168 Rising maintenance cost
3.9 Growth potential analysis
3.10 Company market share analysis, 2015
3.10.1 Strategy dashboard
3.11 Porter’s analysis
3.12 PESTEL analysis
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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