Boom Trucks Market Report to 2025 | Segmentation, Growth Projection and Demand Forecast
Category: #reports  By Rahul Varpe  Date: 2020-04-15
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Boom Trucks Market Report to 2025 | Segmentation, Growth Projection and Demand Forecast

Based on the research, the size of the overall Boom Trucks Market was recorded at USD 2 billion in the year 2018 and is now projected to surpass around USD 3.5 billion by 2025. The Boom Trucks Market size, between the duration 2019-2025, is anticipated to witness a CAGR of 5.5%. 

In the dynamically changing face of construction and telecom sectors, boom trucks market has indeed turned out to be one of the most remunerative business spheres of recent times. The growing requirement of specialized equipment across myriad work sites has stimulated the demand for these customized trucks by leaps and bounds.

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Industry Growth Drivers –           

  1. Increasing infrastructure investments globally
  2. Rising installation of displays and banners globally
  3. Increasing rate of urbanization in the U.S.
  4. Utility infrastructu0072e transformation in Europe
  5. Upgradation of power grids in India
  6. Increasing infrastructure and industrial projects in Russia
  7. Rising demand for lifting equipment from BRIC countries
  8. Growing demand for bucket trucks in China and Japan
  9. Rapid urbanization in Southern African countries
  10. Proliferation of the construction industry in Middle East

The expanding demand for boom trucks has pushed various companies to bring technological modernization in the vehicle design in a bid to widen the application terrain of this marketplace. In this regard, in 2016, Terex, one of the globally acclaimed of boom trucks industry giants grabbed most of the headlines with its launch of BT 4792 at CONEXPO 2017.

This innovative stinger class boom truck crane claims to weigh nearly 27.2 tons, with a lifting capacity of almost 21.3 tons. Not just that, this particular group of crane also features a working platform and a cage arrangement structure that has the capacity to support 2 people at a height of 43.8 meter. Terex’s significant initiative aptly validates the exceptional developments that boom trucks market is presently characterized by.

Know about Market growth in New Research and its Top growing factors by Key Companies like

Aichi Corporation, Altec Inc., Axion Lift, Bronto Skylift, CTE Group SPA, Dur-A-Lift, Inc., Elliott Equipment Co., Henan Symmen Machinery Co. Ltd., Link Belt Cranes, Load King, Manitex Inc., Manitowoc Cranes, Palfinger AG, Ruthmann GmbH, Tadano Ltd., Terex Corporation, Versalift

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Comprehensive Review of Market by Applications: -

  1. Rental
  2. Construction
  3. Utility

As boom trucks market share is predominantly augmented by construction domain, Asia Pacific belt witnesses a percentage of supremacy in the entire business space. It has been observed that countries like India and China have been increasingly preferring advanced lifting equipment over conventional techniques, which by extension is favoring boom trucks market growth in these regions.

Add to it, regional governmental supports and funding with regards to safe equipment usage is further augmenting the industry trends. Reportedly, Asia Pacific boom trucks market size will register a CAGR of 4% over 2019-2025. Presence of renowned firms like Shanghai Hongxin Equipment Engineering Co. and HERC Rentals is expected to further proliferate the regional industry outlook.

Additionally, the report contains details relating to the numerous organizations that form a part of the competitive scene of this industry. The various advancements in the market, developments, and different components influencing the product demand are additionally expounded in detail.

The significant regions worldwide that may probably build up a conspicuous hold in the business and the ones that have significant odds of developing as vital income pockets are enrolled in the report. Likewise, a top to bottom assessment of the most recent advancements in the business, along with definite profiles of all the critical organizations in the market are given in the report, coupled with a special model investigation.

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A SWOT analysis, overviews, and the strategies deployed by significant merchants in the market give a careful comprehension of the industry scenario and what chances the market has of depicting positive growth prospects. Likewise, the investigation shows an itemized market division which depends on the product type, application, and innovations. The business strategies embraced by significant market players paired with the rising progressions and significant development possibilities of the business until 2025 have been given.

Related News: - https://www.marketwatch.com/press-release/material-handling-equipment-market-2020-by-regional-insights-trends-to-2025-2020-04-15



About Author

Rahul Varpe

Email: [email protected]   

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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