Bucket Truck Market by Product (Class 4, Class 5, Class 6, Class 7, Class 8), Application (Telecommunication, Forestry, Construction, Utility), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028

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The bucket truck market is expected to grow from USD 2.2 billion in 2020 to USD 3.250 billion by 2028, at a CAGR of 5% during the forecast period 2021-2028.

Bucket trucks are vehicles equipped with telescopic boom cranes used to hoist freight or workers in logistics, maintenance, and construction. Workers can use these trucks to transport and handle freight or loads as needed. Typically, distinct OEMs construct the truck body and crane equipment, resulting in long-term partnerships and memorandums of understanding. The lifting capacity, lifting reach, payload & hauling capacity, and application of these boom trucks are different. They are employed for a variety of tasks, including lifting employees for high-rise structural and building maintenance and inspection, pumping concrete, and loading and unloading freight from warehouses and other trucks. The boom truck market is seeing a lot of customization to meet the specific needs of each business.

The factors driving the bucket truck market are rapidly growing urbanization & industrialization, increasing government & private sector investments in developing new infrastructure and smart cities. The ability of bucket trucks to serve as a versatile, height-adjustable platform helps construction and utility employees to work more effectively and safely. The factors restraining the bucket truck  market growth are the high cost of purchasing these trucks, inclination of the construction industry towards rental or used equipment. Bucket trucks are made with high-quality materials and pneumatic components, which results in hefty upfront expenditures. Due to the high cost of purchasing new trucks, construction sector participants prefer to rent or use old equipment, posing a challenge to market expansion. Increasing the installation of displays and banners across the globe is expected to provide market growth opportunities.

This study delivers a thorough analysis of type, product, and region. The type segment includes class 4, class 5, class 6, class 7, and class 8. The class 8 segment held the largest market share in 2020, owing to the growing tendency of using bucket trucks to build electric power networks and communication infrastructure in difficult terrains. Heavy-duty class 8 bucket trucks with a GVWR of over 14,969 kg or 33,001 pounds provide increased load-carrying capacity and great stability in all terrains. The application segment includes telecommunication, forestry, construction, utility. The telecommunication segment held the major market share in 2020, owing to the growing demand as the global population is rapidly increasing. The demand for reliable telecommunication infrastructure is increasing as the world's population expands, driving the bucket truck industry ahead.

The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Europe held the most significant market share in 2020 due to the well-established public facilities that require ongoing repair and attention. However, severe pollution and safety regulations have hampered the boom truck business in the region. The market is expected to see considerable growth in the Asia Pacific as well. The construction and utility industries are expected to see an increase in demand for boom trucks as infrastructure and related projects become more expensive.

Some notable players in the market are, Manitowoc Inc., Dur-A-Lift, Inc., Aichi Corporation, Equipment Technology, Tadano Ltd., Demag GmbH Mobile Cranes, Terex Corporation, Altec, Inc., Bronto Skylift, CTE Group SPA,  Axion Lift,  Elliott Equipment Company,  Palfinger AG, and Versalift. To grow their market share, companies in the business are focused on collaborations and new product releases. For instance, In April 2019, Elliott Equipment launched their new 19.2-meter V60 bucket truck, which has a lift height of 11.6 metres and a platform capacity of 227 kilogrammes.

Global Bucket Truck Market Analysis and Forecast, By Type

  • Class 4
  • Class 5
  • Class 6
  • Class 7
  • Class 8

Global Bucket Truck Market Analysis and Forecast, By Product

  • Telecommunication
  • Forestry
  • Construction
  • Utility

Global Bucket Truck Market Analysis and Forecast, By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Sweden
    • Netherland
    • U.K.
    • Italy
    • Spain
    • Turkey
    • Switzerland
    • Belgium
    • Rest Of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
    • Singapore
    • Malaysia
    • Thailand
    • Indonesia
    • Philippines
    • Rest Of APAC
  • South America
    • Brazil
    • Argentina
    • Peru
    • Colombia
    • Rest Of South America
  • Middle East And Africa
    •  UAE
    •  Saudi Arabia
    •  Egypt
    •  Nigeria
    •  South Africa
    • Rest Of Mea

Report Description:

  • The base year for the study has been considered 2020, historic year 2018 and 2019, the forecast period considered is from 2021to 2028.
  • The study delivers a comprehensive analysis of global bucket truck market for all segments and region
  • The report offers in-depth analysis of driving factors, opportunities and restraints for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2021 to 2028.
  • Porter’s Five Forces model is used in order to recognize the competitive scenario in the market. This report incorporates the industry analysis which is focused on providing an extensive view of the market.
  • The study also includes attractiveness analysis of all segments and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunist for understanding the future growth of the market.
  • The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
  • The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Product
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends
5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rising urbanization & industrialization
          5.2.2. Increasing government & private sector investments
    5.3. Restrains
          5.3.1. High cost of bucket trucks
          5.3.2. Inclination of the construction industry towards rental equipment
    5.4. Opportunities
          5.4.1. Increasing the installation of displays and banners
6. Global Bucket Truck Analysis and Forecast, By Product
    6.1. Segment Overview
    6.2. Class 4
    6.3. Class 5
    6.4. Class 6
    6.5. Class 7
    6.6. Class 8
7. Global Bucket Truck Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Telecommunication
    7.3. Forestry
    7.4. Construction
    7.5. Utility
8. Global Bucket Truck Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa
9. Global Bucket Truck-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in Global Bucket Truck
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions
10. Company Profiles
    10.1. Manitowoc Inc.
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Dur-A-Lift, Inc.
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Aichi Corporation
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Equipment Technology
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Tadano Ltd.
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Demag GmbH Mobile Cranes
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Terex Corporation
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Altec, Inc.
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Bronto Skylift
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. CTE Group SPA
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Product Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. Axion Lift
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Product Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
    10.12. Elliott Equipment Company
          10.12.1. Business Overview
          10.12.2. Company Snapshot
          10.12.3. Company Market Share Analysis
          10.12.4. Company Product Portfolio
          10.12.5. Recent Developments
          10.12.6. SWOT Analysis
    10.13. Palfinger AG
          10.13.1. Business Overview
          10.13.2. Company Snapshot
          10.13.3. Company Market Share Analysis
          10.13.4. Company Product Portfolio
          10.13.5. Recent Developments
          10.13.6. SWOT Analysis
    10.14. Versalift
          10.14.1. Business Overview
          10.14.2. Company Snapshot
          10.14.3. Company Market Share Analysis
          10.14.4. Company Product Portfolio
          10.14.5. Recent Developments
          10.14.6. SWOT Analysis

List of Table

1. Global Bucket Truck, By Product, 2018-2028 (USD Billion)

2. Global Class 4, Bucket Truck, By Region, 2018-2028 (USD Billion) 

3. Global Class 5, Bucket Truck, By Region, 2018-2028 (USD Billion)

4. Global Class 6, Bucket Truck, By Region, 2018-2028 (USD Billion)

5. Global Class 7, Bucket Truck, By Region, 2018-2028 (USD Billion)

6. Global Class 8, Bucket Truck, By Region, 2018-2028 (USD Billion)

7. Global Bucket Truck, By Application, 2018-2028 (USD Billion)

8. Global Telecommunication, Bucket Truck, By Region, 2018-2028 (USD Billion)

9. Global Forestry , Bucket Truck, By Region, 2018-2028 (USD Billion)

10. Global Construction , Bucket Truck, By Region, 2018-2028 (USD Billion)

11. Global Utility, Bucket Truck, By Region, 2018-2028 (USD Billion)

12. North America Bucket Truck, By Product, 2018-2028 (USD Billion)

13. North America Bucket Truck, By Application, 2018-2028 (USD Billion)

14. U.S. Bucket Truck, By Product, 2018-2028 (USD Billion)

15. U.S. Bucket Truck, By Application, 2018-2028 (USD Billion)

16. Canada Bucket Truck, By Product, 2018-2028 (USD Billion)

17. Canada Bucket Truck, By Application, 2018-2028 (USD Billion)

18. Mexico Bucket Truck, By Product, 2018-2028 (USD Billion)

19. Mexico Bucket Truck, By Application, 2018-2028 (USD Billion)

20. Europe Bucket Truck, By Product, 2018-2028 (USD Billion)

21. Europe Bucket Truck, By Application, 2018-2028 (USD Billion)

22. Germany Bucket Truck, By Product, 2018-2028 (USD Billion)

23. Germany Bucket Truck, By Application, 2018-2028 (USD Billion)

24. France Bucket Truck, By Product, 2018-2028 (USD Billion)

25. France Bucket Truck, By Application, 2018-2028 (USD Billion)

26. U.K. Bucket Truck, By Product, 2018-2028 (USD Billion)

27. U.K. Bucket Truck, By Application, 2018-2028 (USD Billion)

28. Italy Bucket Truck, By Product, 2018-2028 (USD Billion)

29. Italy Bucket Truck, By Application, 2018-2028 (USD Billion)

30. Spain Bucket Truck, By Product, 2018-2028 (USD Billion)

31. Spain Bucket Truck, By Application, 2018-2028 (USD Billion)

32. Asia Pacific Bucket Truck, By Product, 2018-2028 (USD Billion)

33. Asia Pacific Bucket Truck, By Application, 2018-2028 (USD Billion)

34. Japan Bucket Truck, By Product, 2018-2028 (USD Billion)

35. Japan Bucket Truck, By Application, 2018-2028 (USD Billion)

36. China Bucket Truck, By Product, 2018-2028 (USD Billion)

37. China Bucket Truck, By Application, 2018-2028 (USD Billion)

38. India Bucket Truck, By Product, 2018-2028 (USD Billion)

39. India Bucket Truck, By Application, 2018-2028 (USD Billion)

40. South America Bucket Truck, By Product, 2018-2028 (USD Billion)

41. South America Bucket Truck, By Application, 2018-2028 (USD Billion)

42. Brazil Bucket Truck, By Product, 2018-2028 (USD Billion)

43. Brazil Bucket Truck, By Application, 2018-2028 (USD Billion)

44. Middle East and Africa Bucket Truck, By Product, 2018-2028 (USD Billion)

45. Middle East and Africa Bucket Truck, By Application, 2018-2028 (USD Billion)

46. UAE Bucket Truck, By Product, 2018-2028 (USD Billion)

47. UAE Bucket Truck, By Application, 2018-2028 (USD Billion)

48. South Africa Bucket Truck, By Product, 2018-2028 (USD Billion)

49. South Africa Bucket Truck, By Application, 2018-2028 (USD Billion)

List of Figures 

1. Global Bucket  Truck Segmentation

2. Global Bucket Truck: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Bucket  Truck Attractiveness Analysis By Product

9. Global Bucket  Truck Attractiveness Analysis By Application 

10. Global Bucket  Truck Attractiveness Analysis By Region

11. Global Bucket Truck: Dynamics

12. Global Bucket  Truck Share By Product(2021 & 2028)

13. Global Bucket  Truck Share By Application (2021 & 2028)

14. Global Bucket  Truck Share by Regions (2021 & 2028)

15. Global Bucket  Truck Share by Company (2020)

Research Methodology

Market research is a method of gathering, assessing and deducing data & information about a particular market. Market research is very crucial in these days. The techniques analyze about how a product/service can be offered to the market to its end-customers, observe the impact of that product/service based on the past customer experiences, and cater their needs and demands. Owing to the successful business ventures, accurate, relevant and thorough information is the base for all the organizations because market research report/study offers specific market related data & information about the industry growth prospects, perspective of the existing customers, and the overall market scenario prevailed in past, ongoing present and developing future. It allows the stakeholders and investors to determine the probability of a business before committing substantial resources to the venture. Market research helps in solving the marketing issues challenges that a business will most likely face.

Market research is valuable because of the following reasons:

  • Market research helps businesses strengthen a company’s position
  • Market research helps in minimizing the investment risks associated with the businesses in any industry vertical
  • Market research helps in identifying the potential threats and opportunities associated with the business industry
  • Market research aids in spotting the emerging trends and facilitates strategic planning in order to stay ahead in the competition

Our research report features both the aspects; qualitative and quantitative. Qualitative part provides insights about the market driving forces, potential opportunities, customer’s demands and requirement which in turn help the companies to come up with new strategies in order to survive in the long run competition. The quantitative segment offers the most credible information related to the industry. Based on the data gathering, we use to derive the market size and estimate their future growth prospects on the basis of global, region and country.

Our market research process involves with the four specific stages.

  • Data Collection
  • Data Synthesis
  • Market Deduction & Formulation
  • Data Screening & Validation

Data Collection: This stage of the market research process involves with the gathering and collecting of the market/industry related data from the sources. There are basically two types of research methods:

  • Primary Research: By conducting primary research, it involves with the two types of data gathering; exploratory and specific. Exploratory data is open-ended and helps us to define a particular problem involving surveys, and pilot study to the specific consumer group, knowing their needs and wants catering to the industry related product/service offering. Explanatory data gathering follows with the bit of unstructured way. Our analyst group leads the study by focusing on the key crowd, in this manner picking up bits of knowledge from them. In light of the points of view of the clients, this data is used to plan advertise techniques. In addition, showcase overviews causes us to comprehend the current scenario of the business. Specific data gathering on the hand, involves with the more structured and formal way. The primary research usually includes in telephonic conversations, E-mail collaborations and up close and personal meetings/interviews with the raw material suppliers, industrial wholesalers, and independent consultants/specialists. The interviews that we conduct offers important information on showcase size and industry development patterns. Our company likewise conducts interviews with the different business specialists so as to increase generally bits of knowledge of the business/showcase.
  • Secondary Research: The secondary research incorporates with the data gathering from the non-profit associations and organizations, for example, World bank, WHO, investor relations and their presentations, statistical databases, yearly(annual reports) reports, national government records, factual databases, websites, articles, white papers, press releases, blogs and others. From the annual report, we deduce an organization's income/revenue generation to comprehend the key product segment related to the market. We examine the organization sites and implement product mapping strategy which is significant for determining the segment revenue. In the product mapping technique, we choose and categorize the products offered by the companies catering to the industry specific market, derive the segment revenue for each of the organizations to get the market estimation. We also gather data & Information based on the supply and demand side of the value chain involved with the domain specific market. The supply side denotes the distributors, wholesalers, suppliers and the demand side denotes the end-consumers/customers of the value chain. The supply side of the market is analyzed by examining the product growth across industry in each of the region followed by its pricing analysis. The demand side is analyzed by the evaluating the penetration level and adoption rates of the product by referring to the historical/past data, examine the present usage and forecasting the future trends. 
  • Purchased Database: Our purchased data provides insights about the key market players/companies along with their financial analysis. Additionally, our data base also includes market related information. 
    • We also have the agreements with various reputed data providers, consultants and third party vendors who provide information which are not limited to:
      • Export & Import Data
      • Business Information related to trade and its statistics
      • Penetration level of a particular product/service based on geography mainly focusing on the unmet prerequisites of the customers.
  • In-house Library: Apart from these third-party sources, we have our in-house library of quantitative and qualitative data & information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, internal audit reports, historic databases, archives and journal publications. Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those particular cases, we utilize our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopts a robust research technique in order to deduce the market size and its estimates:
  • Examining demographic along with psychographic segmentation for market evaluation
  • Analyzing the macro and micro-economic indicators for each demography
  • Evaluating the current industry trends popular in the market.

Data Synthesis: This stage includes the evaluation and assessment of all the data acquired from the primary and secondary research. It likewise includes in evaluating the information for any disparity watched while information gathering identified with the market. The data & information is gathered with consideration to the heterogeneity of sources. Scientific and statistical methods are implemented for synthesizing dissimilar information sets and provide the relevant data which is fundamental for formulating strategies. Our organization has broad involvement with information amalgamation where the information goes through different stages:

  • Information Screening: Information screening is the way toward examining information/data gathered from the sources for errors/mistakes and amending it before data integration process. The screening includes in looking at raw information, identifying and distinguishing mistakes and managing missing information. The reason for the information screening is to ensure information is effectively entered or not. Our organization utilizes objective and precise information screening grades through repetitive quality checks.
  • Data Integration: The data integration method involves with the incorporation of numerous information streams. The data streams is important so as to deliver investigate examines that give overall market scenario to the investors. These information streams originate from different research contemplates and our in house database. After the screening of the information, our analysts conduct efficient integration of the data streams, optimizing connections between integrated surveys and syndicated data sources. There are two research approaches that we follow so as to coordinate our information; top down methodology and bottom up methodology. 
    • Top-down analysis generally refers to using broad factors as a basis for decision making. The top-down approach helps in identifying the overall market scenario along with the external and internal factors effecting the market growth.
    • The bottom-up approach takes a completely different approach. Generally, the bottom-up approach focuses its analysis on micro attributes and specific characteristics of the domain specific market.

Market Formulation & Deduction: The last stage includes assigning the data & information in a suitable way in order to derive market size. Analyst reviews and domain based opinions based on holistic approach of market estimation combined with industry investigation additionally features a crucial role in this stage.

This stage includes with the finalization of the market size and numbers that we have gathered from primary and secondary research. With the data & information addition, we ensure that there is no gap in the market information. Market trend analysis is finished by our analysts by utilizing data extrapolation procedures, which give the most ideal figures to the market.

Data Validation: Validation is the most crucial step in the process. Validation & re-validation through scientifically designed technique and process that helps us finalize data-points to be used for final calculations. This stage also involves with the data triangulation process. Data triangulation generally implicates the cross validation and matching the data which has been collected from primary and secondary research methods.

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