Boom Truck Market by End-user and Geography - Forecast and Analysis 2022-2026
| Published: Sep 2022 | Pages: 125 | SKU: IRTNTR74510 |
The boom truck market share is expected to increase by USD 574.48 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.43%.
This boom truck market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the boom truck market segmentation by end-user (construction, telecom, transportation and logistics, and others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The boom truck market report also offers information on several market vendors, including Able Rigging Contractors Inc., Altec Inc., Aspen Equipment LLC, Dur A Lift Inc., Elliott Equipment Inc., Fassi Gru Spa, Interlake Crane Inc., Liebherr International Deutschland GmbH, Link Belt Cranes, Load King Trailers, Manitex International Inc., Morita Holdings Corp., PALFINGER AG, RUTHMANN GmbH & Co. KG, Tadano Ltd., Terex Corp., The Manitowoc Co. Inc., Time Manufacturing Co., Toyota Industries Corp., and Xuzhou Construction Machinery Group Co. Ltd. among others.
What will the Boom Truck Market Size be During the Forecast Period?
Download Report Sample to Unlock the Boom Truck Market Size for the Forecast Period and Other Important Statistics
Boom Truck Market: Key Drivers, Trends, and Challenges
The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the boom truck market.
Key Boom Truck Market Driver
Growth in end-user industries due to urbanization is one of the key drivers supporting the boom truck market's growth. Growth in the number of megacities indicates the increase in the migration of people from rural to urban areas. Cities are being constructed and expanded to accommodate the growing population. This will lead to the construction of hotels, railways, roads, hospitals, and residential buildings. Such activities increase the demand for construction and industrial machinery, which positively impacts the growth in the demand for boom trucks. Moreover, developing nations, such as India, China, and South Africa, are undergoing rapid urbanization and are expected to rapidly drive the demand for boom trucks during the forecast period. This will augment the growth of the market during the forecast period.
Key Boom Truck Market Trend
The development of autonomous boom trucks is one of the key boom truck market trends contributing to the market growth. An autonomous boom truck is built using advanced sensors and customized hardware that runs complex algorithms for computer vision, trajectory control, navigation, and machine learning. Autonomous boom trucks use multiple camera feeds and computer vision software to learn the workspace details. They use real-time data to automate controls, improve precision, speed up operations, and minimize errors and delays. This reduces construction time by up to 30%. Therefore, the development of autonomous boom trucks will positively impact the market during the forecast period.
Key Boom Truck Market Challenge
The increasing availability of second-hand boom trucks and counterfeit boom trucks is one of the factors hindering the boom truck market growth. The growing demand for second-hand boom trucks is mainly due to the increased demand for low-cost boom trucks. This is leading to the availability of counterfeit boom trucks, which cost less than the tower boom trucks offered by OEMs. Therefore, the need for low-cost boom trucks is increasing the penetration of counterfeit boom trucks and second-hand boom trucks. This is expected to hinder the growth of the market in terms of value during the forecast period.
This boom truck market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the global boom truck market as a part of the global construction machinery and heavy trucks market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the boom truck market during the forecast period.
Who are the Major Boom Truck Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Able Rigging Contractors Inc.
- Altec Inc.
- Aspen Equipment LLC
- Dur-A-Lift Inc.
- Elliott Equipment Inc.
- Fassi Gru Spa
- Interlake Crane Inc.
- Liebherr International Deutschland GmbH
- Link Belt Cranes
- Load King Trailers
- Manitex International Inc.
- Morita Holdings Corp.
- PALFINGER AG
- RUTHMANN GmbH & Co. KG
- Tadano Ltd.
- Terex Corp.
- The Manitowoc Co. Inc.
- Time Manufacturing Co.
- Toyota Industries Corp.
- Xuzhou Construction Machinery Group Co. Ltd.
This statistical study of the boom truck market encompasses successful business strategies deployed by the key vendors. The boom truck market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Altec Inc. - The company offers boom truck cranes such as AC18 70B
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The boom truck market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Boom Truck Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the boom truck market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
Which are the Key Regions for Boom Truck Market?
For more insights on the market share of various regions Request PDF Sample now!
42% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the boom truck market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The advent of product innovations and other technological innovations will facilitate the boom truck market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
Industrial activities in the region were adversely affected in 2020 and 2021, owing to the outbreak of the COVID-19 pandemic. However, in 2021, owing to the mass vaccination drives and various initiatives undertaken by the government, the lockdown restrictions were relaxed, and operations returned to normal. Thus, with the threat of the pandemic receding, the recovery of the construction sector picked pace in 2021 and will continue during the forecast period as well.
What are the Revenue-generating End-user Segments in the Boom Truck Market?
To gain further insights on the market contribution of various segments Request a PDF Sample
The boom truck market share growth in the construction segment will be significant during the forecast period. The market in the construction segment is expected to record a significant growth rate during the forecast period due to the rise in the use of new boom trucks among various construction contractors and the increase in investments in the construction sector. In addition, a significant increase in infrastructure spending by governments across different regions is expected to drive the growth of the construction segment, which, in turn, will augment the adoption of boom trucks in this segment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the boom truck market size and actionable market insights on the post-COVID-19 impact on each segment.
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Boom Truck Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.43% |
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Market growth 2022-2026 |
$574.48 million |
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Market structure |
Fragmented |
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YoY growth (%) |
5.36 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 42% |
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Key consumer countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Able Rigging Contractors Inc., Altec Inc., Aspen Equipment LLC, Dur-A-Lift Inc., Elliott Equipment Inc., Fassi Gru Spa, Interlake Crane Inc., Liebherr International Deutschland GmbH, Link Belt Cranes, Load King Trailers, Manitex International Inc., Morita Holdings Corp., PALFINGER AG, RUTHMANN GmbH & Co. KG, Tadano Ltd., Terex Corp., The Manitowoc Co. Inc., Time Manufacturing Co., Toyota Industries Corp., and Xuzhou Construction Machinery Group Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Boom Truck Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive boom truck market growth during the next five years
- Precise estimation of the boom truck market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the boom truck industry across APAC, North America, Europe, South America, and the Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of boom truck market vendors
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by End-user
- 5.1 Market segments
- Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
- Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
- 5.2 Comparison by End-user
- Exhibit 26: Chart on Comparison by End-user
- Exhibit 27: Data Table on Comparison by End-user
- 5.3 Construction - Market size and forecast 2021-2026
- Exhibit 28: Chart on Construction - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Construction - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Construction - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Construction - Year-over-year growth 2021-2026 (%)
- 5.4 Telecom - Market size and forecast 2021-2026
- Exhibit 32: Chart on Telecom - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Telecom - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Telecom - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Telecom - Year-over-year growth 2021-2026 (%)
- 5.5 Transportation and logistics - Market size and forecast 2021-2026
- Exhibit 36: Chart on Transportation and logistics - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Transportation and logistics - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Transportation and logistics - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Transportation and logistics - Year-over-year growth 2021-2026 (%)
- 5.6 Others - Market size and forecast 2021-2026
- Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)
- 5.7 Market opportunity by End-user
- Exhibit 44: Market opportunity by End-user ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 46: Chart on Market share by geography 2021-2026 (%)
- Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 48: Chart on Geographic comparison
- Exhibit 49: Data Table on Geographic comparison
- 7.3 APAC - Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.4 North America - Market size and forecast 2021-2026
- Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.5 Europe - Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 China - Market size and forecast 2021-2026
- Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.10 Japan - Market size and forecast 2021-2026
- Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)
- 7.11 India - Market size and forecast 2021-2026
- Exhibit 82: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on India - Year-over-year growth 2021-2026 (%)
- 7.12 Germany - Market size and forecast 2021-2026
- Exhibit 86: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 91: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 93: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 94: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 95: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 96: Matrix on vendor position and classification
- 10.3 Altec Inc.
- Exhibit 97: Altec Inc. - Overview
- Exhibit 98: Altec Inc. - Product / Service
- Exhibit 99: Altec Inc. - Key offerings
- 10.4 Elliott Equipment Inc.
- Exhibit 100: Elliott Equipment Inc. - Overview
- Exhibit 101: Elliott Equipment Inc. - Product / Service
- Exhibit 102: Elliott Equipment Inc. - Key offerings
- 10.5 Fassi Gru Spa
- Exhibit 103: Fassi Gru Spa - Overview
- Exhibit 104: Fassi Gru Spa - Product / Service
- Exhibit 105: Fassi Gru Spa - Key offerings
- 10.6 Liebherr International Deutschland GmbH
- Exhibit 106: Liebherr International Deutschland GmbH - Overview
- Exhibit 107: Liebherr International Deutschland GmbH - Product / Service
- Exhibit 108: Liebherr International Deutschland GmbH - Key news
- Exhibit 109: Liebherr International Deutschland GmbH - Key offerings
- 10.7 Load King Trailers
- Exhibit 110: Load King Trailers - Overview
- Exhibit 111: Load King Trailers - Product / Service
- Exhibit 112: Load King Trailers - Key offerings
- 10.8 Manitex International Inc.
- Exhibit 113: Manitex International Inc. - Overview
- Exhibit 114: Manitex International Inc. - Product / Service
- Exhibit 115: Manitex International Inc. - Key offerings
- 10.9 Tadano Ltd.
- Exhibit 116: Tadano Ltd. - Overview
- Exhibit 117: Tadano Ltd. - Business segments
- Exhibit 118: Tadano Ltd. - Key offerings
- Exhibit 119: Tadano Ltd. - Segment focus
- 10.10 The Manitowoc Co. Inc.
- Exhibit 120: The Manitowoc Co. Inc. - Overview
- Exhibit 121: The Manitowoc Co. Inc. - Business segments
- Exhibit 122: The Manitowoc Co. Inc. - Key news
- Exhibit 123: The Manitowoc Co. Inc. - Key offerings
- Exhibit 124: The Manitowoc Co. Inc. - Segment focus
- 10.11 Toyota Industries Corp.
- Exhibit 125: Toyota Industries Corp. - Overview
- Exhibit 126: Toyota Industries Corp. - Business segments
- Exhibit 127: Toyota Industries Corp. - Key news
- Exhibit 128: Toyota Industries Corp. - Key offerings
- Exhibit 129: Toyota Industries Corp. - Segment focus
- 10.12 Xuzhou Construction Machinery Group Co. Ltd.
- Exhibit 130: Xuzhou Construction Machinery Group Co. Ltd. - Overview
- Exhibit 131: Xuzhou Construction Machinery Group Co. Ltd. - Product / Service
- Exhibit 132: Xuzhou Construction Machinery Group Co. Ltd. - Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 133: Inclusions checklist
- Exhibit 134: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 135: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 136: Research methodology
- Exhibit 137: Validation techniques employed for market sizing
- Exhibit 138: Information sources
- 11.5 List of abbreviations
- Exhibit 139: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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boom truck market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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