Boom Truck Market Size, Share, Growth Analysis, By Product(Boom Trucks, Bucket Trucks), By Vehicle Class(Class 4, Class 5), By Application(Rental, Construction) - Industry Forecast 2024-2031

Drivers

• Rising Infrastructure Development Activity

To boost economic growth and accommodate the growing world population, governments across the world are investing in infrastructure development initiatives. This has resulted in increased construction activity thereby driving boom truck market development as well.

• High Use in Utility and Telecommunication Applications

Boom trucks are being increasing used in different utility and telecommunication applications such as installation and maintenance of different cables, towers, and light poles. Growing emphasis on worker safety in these industries will further boost the demand for boom trucks in the future.

Restraints

• High Costs of Ownership

Procuring and maintaining a boom truck is not an inexpensive feat, which is why only companies with high budgets opt to purchase boom trucks. Moreover, most companies are looking to reduce their cost of ownership and thereby risk of losses, which in turn is slated to slow down boom truck demand going forward.

• Regulatory Compliance Issues

Generally, boom trucks run on diesel and imposition of strict mandates in terms of emission from diesel engines is slated create issues for boom truck suppliers going forward. Ensuring compliance with constantly evolving regulatory landscape is slated to slow down boom truck market development to a certain extent.