Global Boom Truck Market Size Study, by Capacity (Up to 15 Tons, 15 Tons-25 Tons, 25 Tons-35 Tons, Above 35 Tons), by Application (Construction, Utilities, Industries, Others) and Regional Forecasts 2022-2032

Description

The Global Boom Truck Market was valued at approximately USD 3.08 billion in 2023 and is projected to expand at a CAGR of 5.48% over the forecast period 2024-2032. As industries increasingly rely on efficient lifting and material handling solutions, boom trucks are witnessing a significant surge in demand, particularly across the construction, utilities, and industrial sectors. These versatile vehicles offer enhanced mobility, extended reach, and cost-effectiveness, making them indispensable in infrastructure projects and maintenance activities. The rising emphasis on urbanization, industrial expansion, and smart city initiatives has further accelerated the adoption of boom trucks, as they play a crucial role in streamlining operations, improving workforce efficiency, and reducing operational costs.

Market players are investing heavily in advanced boom truck technologies, integrating telematics, remote monitoring, and automation features to enhance safety, productivity, and fuel efficiency. The growing preference for electric and hybrid boom trucks is another transformative trend, driven by stringent environmental regulations and sustainability mandates aimed at reducing carbon footprints. Furthermore, manufacturers are focusing on lightweight yet durable materials, ensuring superior load-bearing capacity and extended operational lifespan. However, high initial investment costs, maintenance expenses, and fluctuating raw material prices pose challenges, potentially restricting market growth, particularly in cost-sensitive regions.

North America currently dominates the boom truck market, backed by robust infrastructure development, high investment in energy and utility projects, and stringent workplace safety standards. The United States and Canada lead the way in the adoption of technologically advanced boom trucks, fueled by government incentives for equipment modernization and efficiency optimization. Meanwhile, Europe continues to experience steady market expansion, supported by sustainable construction initiatives and regulatory mandates for eco-friendly lifting solutions. The Asia Pacific region is expected to register the fastest growth, driven by rapid industrialization, increasing construction activities, and infrastructure megaprojects in countries like China, India, and Japan. Additionally, Latin America and the Middle East & Africa are emerging as lucrative markets, with heightened investments in renewable energy projects and large-scale construction endeavors bolstering demand for boom trucks.

Major Market Players Included in This Report Are:

Manitex International, Inc.
Tadano Ltd.
Manitowoc Company, Inc.
Liebherr Group
Terex Corporation
Altec Inc.
Elliott Equipment Company
XCMG Group
Palfinger AG
Zoomlion Heavy Industry Science and Technology Co., Ltd.
SANY Group
Link-Belt Cranes
Hiab (Cargotec Corporation)
Kobelco Construction Machinery Co., Ltd.
Konecranes Plc

The Detailed Segments and Sub-Segment of the Market Are Explained Below:

By Capacity:

Up to 15 Tons
15 Tons-25 Tons
25 Tons-35 Tons
Above 35 Tons

By Application:

Construction
Utilities
Industries
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Years Considered for the Study Are As Follows:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024-2032

Key Takeaways:

Market Estimates & Forecasts for 10 years from 2022 to 2032.
Comprehensive regional and segment-wise revenue analysis.
Insights into competitive dynamics and strategic developments.
Evaluation of technological advancements and sustainability trends.
Actionable recommendations for stakeholders in the boom truck market.

Chapter 1. Global Boom Truck Market Executive Summary

1.1. Global Boom Truck Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Capacity
- 1.3.2. By Application
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Boom Truck Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Boom Truck Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising emphasis on urbanization, industrial expansion, and smart city initiatives
- 3.1.2. Technological advancements in boom truck design and functionality
- 3.1.3. Shift toward electric and hybrid boom truck solutions
3.2. Market Challenges
- 3.2.1. High initial investments and fluctuating raw material costs
- 3.2.2. Maintenance and operational expenses in cost-sensitive regions
3.3. Market Opportunities
- 3.3.1. Infrastructure development projects in emerging economies
- 3.3.2. Growing demand for sustainable and eco-friendly lifting equipment
- 3.3.3. Strategic partnerships and 3PL collaboration for efficient distribution

Chapter 4. Global Boom Truck Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Boom Truck Market Size & Forecasts by Capacity 2022-2032

5.1. Segment Dashboard
5.2. Global Boom Truck Market: Capacity Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Up to 15 Tons
- 5.2.2. 15 Tons-25 Tons
- 5.2.3. 25 Tons-35 Tons
- 5.2.4. Above 35 Tons

Chapter 6. Global Boom Truck Market Size & Forecasts by Application 2022-2032

6.1. Segment Dashboard
6.2. Global Boom Truck Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Construction
- 6.2.2. Utilities
- 6.2.3. Industries
- 6.2.4. Others

Chapter 7. Global Boom Truck Market Size & Forecasts by Region 2022-2032

7.1. North America Boom Truck Market
- 7.1.1. U.S. Boom Truck Market
  - 7.1.1.1. By Capacity breakdown size & forecasts, 2022-2032
  - 7.1.1.2. By Application breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Boom Truck Market
7.2. Europe Boom Truck Market
- 7.2.1. U.K. Boom Truck Market
- 7.2.2. Germany Boom Truck Market
- 7.2.3. France Boom Truck Market
- 7.2.4. Spain Boom Truck Market
- 7.2.5. Italy Boom Truck Market
- 7.2.6. Rest of Europe Boom Truck Market
7.3. Asia-Pacific Boom Truck Market
- 7.3.1. China Boom Truck Market
- 7.3.2. India Boom Truck Market
- 7.3.3. Japan Boom Truck Market
- 7.3.4. Australia Boom Truck Market
- 7.3.5. South Korea Boom Truck Market
- 7.3.6. Rest of Asia Pacific Boom Truck Market
7.4. Latin America Boom Truck Market
- 7.4.1. Brazil Boom Truck Market
- 7.4.2. Mexico Boom Truck Market
- 7.4.3. Rest of Latin America Boom Truck Market
7.5. Middle East & Africa Boom Truck Market
- 7.5.1. Saudi Arabia Boom Truck Market
- 7.5.2. South Africa Boom Truck Market
- 7.5.3. Rest of Middle East & Africa Boom Truck Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. Manitex International, Inc.
- 8.1.2. Tadano Ltd.
- 8.1.3. Manitowoc Company, Inc.
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. Manitex International, Inc.
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. Tadano Ltd.
- 8.3.3. Manitowoc Company, Inc.
- 8.3.4. Liebherr Group
- 8.3.5. Terex Corporation
- 8.3.6. Altec Inc.
- 8.3.7. Elliott Equipment Company
- 8.3.8. XCMG Group
- 8.3.9. Palfinger AG
- 8.3.10. Zoomlion Heavy Industry Science and Technology Co., Ltd.
- 8.3.11. SANY Group
- 8.3.12. Link-Belt Cranes
- 8.3.13. Hiab (Cargotec Corporation)
- 8.3.14. Kobelco Construction Machinery Co., Ltd.
- 8.3.15. Konecranes Plc

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes