NEW YORK, Oct. 25, 2022 /PRNewswire/ — The “Boom Truck Market by End-user and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. The report expects the market to observe an incremental growth of USD 574.48 million, accelerating at a CAGR of 5.43% during the forecast period. The high growth in the construction and industrial sector in this region is creating significant opportunities for vendors operating in the market. The report provides a comprehensive analysis of the current market scenario, market behavior across various geographies, competitive analysis, and much more. Understand how the purchase of the report can have a direct impact on your revenue. Download Free Sample PDF Report Now
Technavio has announced its latest market research report titled Global Boom Truck Market 2022-2026
Boom Truck Market 2022-2026: Key Driver and Challenge
The market is driven by the growth in end-user industries due to urbanization. Rapid urbanization, especially in developing countries has resulted in an increase in the number of megacities. According to an estimate, the number of people living in urban areas is expected to increase by 1.5 times by 2045. Thus, indicating a significant rise in population migration from rural to urban areas. This will lead to an increase in the construction of hotels, railways, roads, hospitals, and residential buildings. All these factors will increase the demand for construction and industrial machinery, thereby driving the growth of the market in focus.
However, the increasing availability of second-hand boom trucks and counterfeit boom trucks will challenge the growth of the market players. High capital requirement is one of the key factors deterring end-users from buying new boom trucks. Besides, the availability of second-hand boom trucks at a lower price is making end-users reluctant to purchase new boom trucks. In addition, the increased penetration of counterfeit boom trucks is expected to further reduce the growth potential in the market.
Get detailed insights into the impact of drivers, trends, and challenges on the growth of the global boom truck market. Buy Report Now
Boom Truck Market 2022-2026: Segmentation
The global boom truck market is segmented as below:
End-user
Construction
Telecom
Transportation and Logistics
Others
The construction industry is the prime end-user in the market. The rise in the use of new boom trucks among various construction contractors and the increase in investments in the construction sector are positively influencing the growth of the segment. In addition, the significant increase in infrastructure spending by governments across regions is expected to drive the growth of the construction segment over the forecast period.
Geography
APAC
North America
Europe
South America
The Middle East and Africa
About 42% of the market growth will come from APAC during the forecast period. The advent of product innovations and other technological innovations has significantly increased the demand for boom trucks from the utility sector in APAC. In addition, the development of smart cities in countries such as China and India will further propel the demand for boom trucks in APAC during the forecast period.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The boom truck market report covers the following areas:
Boom Truck Market 2022-2026: Segmentation
The global boom truck market is fragmented with a few companies accounting for a significant share of the market. Numerous small and mid-sized enterprises are trying to establish their presence in the global boom truck market. Many vendors in the industry compete on parameters such as product design; product performance; maintenance costs; price, energy, and resource savings; quality of the product; and aftermarket support services. Prominent vendors benefit from their strong brand names, leading to customer loyalty and strong resale values. Major vendors are flourishing in the market owing to their reputation for product innovation, aftermarket support and solutions, strong customer relationships, and an established global network of distributors. These factors are anticipated to make the global boom truck market more competitive during the forecast period.
Technavio identifies 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 and Co. KG, Tadano Ltd., Terex Corp., The Manitowoc Co. Inc., Time Manufacturing Co., Toyota Industries Corp., and Xuzhou Construction Machinery Group Co. Ltd. as major market participants.
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Boom Truck Market 2022-2026: Key Highlights
CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will assist boom truck market growth during the next five years
Estimation of the boom truck market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the boom truck market
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
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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 |
USD 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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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 and 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 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. |
Table of Contents:
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
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