Bucket Trucks market revenue is estimated to be $XX Billion in 2019 and shall grow with a CAGR of XX.X% during the forecast period of 2019 to 2026.
Bucket Trucks have a boom that enables users to reach heights for undertaking various kinds of vertically challenged jobs with ease. They are mostly powered by a Diesel Internal Combustion Engine which powers the truck’s transmission as well as the boom. Rise in infrastructure projects and rapidly advancing urban-centers will drive the Bucket Trucks market. Refurbishment of utility grids in India is also likely to be a significant contributor to Bucket Trucks demand in this region. Some restraints include a lack of training infrastructure and Human Resources from an operational perspective. Also, it is a capital intensive product which may deter the young and medium-sized companies from entering the fray as potential buyers.
Analysis by Product
According to the product, the five classes are Class-4, Class-5, Class-6, Class-7, and Class-8.
The Bucket Trucks market report asserts that Class-8 trucks will garner a fairly large demand from various industries. This category is referred to as heavy-duty trucks as they have the largest weight carrying capacity. The Bucket Trucks market research indicates that Class-8 bucket trucks are very useful in rough terrains such as those encountered in wind farms.
Analysis by Type
According to type, the main segments are Insulated and Non-insulated.
The Bucket Trucks market share is led by Insulated trucks owing to a stable demand for reliable energy supply. They are widely used by Utility companies in carrying out maintenance activities at large elevations. Another reason for the rapid increase in the Bucket Trucks market size is because of the fiberglass coating on the upper and lower sections which prevents electricity from flowing onto the platform. This is a critical safety aspect. If something goes wrong, it can be fatal for the operator and damaging for the equipment.
Analysis by Application
According to the application, the four segments are Construction, Utility, Telecommunication, and Forestry. The Utility segment is further classified into Electric and Water.
The Bucket Trucks market estimation is very favorable for the Construction segment which is already a multi-million-dollar industry. Moreover, the number and scope of Construction projects are on the rise globally. The Bucket Trucks market forecast is betting big on the safety aspects in the Construction industry to drive the demand for this product. These trucks can operate at extreme heights with ease.
Analysis by Region
China is developing into a strong market for Bucket Trucks owing to the Government’s favorable safety policies being implemented. The Bucket Trucks price trend is becoming remunerative for the manufacturers in this region. The utility companies are the major beneficiaries of this product as their operations are suited to the product’s offering. Rapidly urbanizing population is likely to place an increased emphasis on timely construction and maintenance of electricity grids which will increase sales for Bucket Trucks. Moreover, labor costs have shown an increasing trend over the past few years. The regional manufacturers, as well as global companies, are likely to develop their value chains in the Asian region to be in the midst of a favorable market. Strategic partnerships with the government will also bring about a conducive business ecosystem.
Analysis by Renowned Organizations
Some of the important Bucket Trucks companies operating in this space are Terex Corporation, Altec Corporation, Palfinger AG, Dur-A-Lift, Inc., Tadano Ltd., Socage S.R.L., and Versalift.
This industry is characterized by cut-throat competition. Thus, the priority of these companies is Product Development. Capital infusions in developing Human Resources and software for analyzing design upgrades will remain key in the upcoming period. High reach equipment needs elaborate engineering and testing. These systems undergo rugged stability tests. Usually, the successful companies develop their testing environments to gain a competitive edge over the competition. These companies gain monetarily over the long term as well as in commercializing their products and services. Other industries in this domain that are growing at a high CAGR include Conveying Equipment Market and Aircraft External Loaders Market.
COVERAGE HIGHLIGHTS
● Market Revenue Estimation and Forecast (2019 – 2026)
● Market Production Estimation and Forecast (2019 – 2026)
● Market Sales/Consumption Volume Estimation and Forecast (2019 – 2026)
● Breakdown of Revenue by Segments (2019 – 2026)
● Breakdown of Production by Segments (2019 – 2026)
● Breakdown of Sales Volume by Segments (2019 – 2026)
● Gross Margin and Profitability Analysis of Companies
● Business Trend and Expansion Analysis
● Import and Export Analysis
● Regional Analysis and Market Data Breakdown
MARKET SEGMENTATION
By Product Outlook ($Revenue and Unit Sales, 2019-2026)
• Class 4
• Class 5
• Class 6
• Class 7
• Class 8
By Type Outlook ($Revenue and Unit Sales, 2019-2026)
• Insulated
• Non-insulated
By Application Outlook ($Revenue and Unit Sales, 2019-2026)
• Construction
• Utility
• Electric
• Water
• Telecommunication
• Forestry
By Regional Outlook ($Revenue and Unit Sales, 2019-2026)
• U.S.
• Canada
• U.K.
• Germany
• France
• Italy
• Russia
• China
• India
• Japan
• South Korea
• Brazil
• Mexico
• Saudi Arabia
• U.A.E.
• South Africa
Renowned Organizations
• Aichi Corporation
• Altec Inc.
• Axion Lift
• Bronto Skylift
• CTE Group SPA
• Dur-A-Lift, Inc.
• Elliott Equipment Company
• Equipment Technology, LLC
• Manitex International, Inc
• Palfinger AG
• Tadano Ltd.
• Terex Corporation
• Versalift
