Press release
Boom Trucks Market to surpass USD 500 million will grow at over 4.5%+ CAGR from 2016 – 2024: Fractovia.Org
The rising number of such operations will boost the product demand, thereby propelling boom trucks industry size. Considering the safety, ease of usage, and convenience, the product is prominently used across the construction, telecom, and utility sectors. As per the report by Global Market Insights, Inc., “Worldwide boom trucks market was valued USD 350 million in 2015 and will record a CAGR of 4.7% over the coming seven years.”
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Telecommunication, utility, logistics, and construction are the primary application segments of boom trucks market. Boom trucks are gaining popularity across the telecom sector, owing to the fact they help to increase the efficacy levels in various operations. The telecommunication application segment will collect considerable revenue by the end of 2024, owing to the increasing need of the product to complete more work in less time.
Construction is another lucrative application segment, which will generate considerable revenue with a CAGR of more than 4% over the coming seven years. The product finds huge demand in hazardous work environments owing to the deployment of various norms regarding worker safety, which will influence the industry growth positively. Public procurement, taxation, and energy efficiency are also a few vital factors fueling the business growth. The usage of boom trucks provides extensive benefits while performing risky operations in inaccessible and remote areas.
Considering the geographical landscape, UK boom trucks market will exhibit substantial annual growth rate over the years ahead, owing to the increasing requirement of rental fleets. Growing spending capability of the customers along with surging investment in residential and infrastructural projects will augment the industry growth. Germany, UK, and France are the prominent revenue contributors of Europe region.
India boom trucks industry will collect considerable revenue with an annual growth rate of more than 4% over the coming timeframe. Favorable support from the government in terms of funding will enhance the product usage. In addition, growing emergence of technologically advanced equipment in the construction sector will also fuel the product demand. Another key factor contributing toward the growth of India boom trucks market is the surging development of townships across the country.
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The noteworthy participants in boom trucks market are Altec Industries, Inc., Manitowoc Cranes, Palfinger, RUTHMANN GmbH & Co., Elliott Equipment Company, Aspen Equipment Company, American Construction Company, Manitex International Inc., Interlake Crane Inc., and Runnion Equipment.
Browse key industry insights spread across 130 pages with 66 market data tables & 28 figures & charts from the report, “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” in detail along with the table of contents:
https://www.fractovia.org/news/industry-research-report/boom-trucks-market
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https://www.fractovia.org/news/industry-research-report/construction-equipment-rental-market
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