San Francisco, 02 December 2024: The Report Boom Truck Market Size, Share & Trends Analysis Report By Mount, By Lifting Capacity, By Boom Length, By Application, By Region, And Segment Forecasts, 2024 - 2030

The global boom truck market size was estimated at USD 3.25 billion in 2023 and is expected to grow at a CAGR of 5.7% from 2024 to 2030. A boom truck is a type of crane mounted on a truck chassis designed to lift and move heavy loads. It combines the mobility of a truck with the lifting capability of a crane, making it versatile for various applications, especially in construction, maintenance, and industrial settings. The rapid surge in investments in infrastructure development around the globe, growing urbanization, and high demand for mobile construction equipment can be attributed to the growth of the market.

As governments and private entities invest heavily in upgrading and building infrastructure such as bridges, roads, and skyscrapers, the demand for boom trucks increases. These vehicles play a crucial role in lifting and placing materials and equipment at various heights and angles, which is essential for complex construction projects. With numerous large-scale infrastructure projects underway globally, the need for versatile and powerful boom trucks is expected to rise, fueling market expansion. Thus, rising infrastructure development across the globe, particularly in developing countries, is driving the growth of the market.

The ongoing trend of urbanization and the construction of high-rise buildings are further boosting the growth of the boom truck market. As cities expand and vertical construction becomes more common, the need for specialized equipment that can handle the demands of high-rise projects grows. Boom trucks are essential for reaching elevated construction sites and performing tasks such as placing large materials and equipment. The increasing number of high-rise residential and commercial buildings is driving demand for boom trucks with extended reach and lifting capacity, contributing to market growth.

Furthermore, the market is experiencing significant growth due to rapid technological advancements. Modern boom trucks are increasingly integrated with cutting-edge technologies such as telematics, real-time data monitoring, and advanced load control systems. These innovations enhance safety, efficiency, and operational capabilities, making boom trucks more attractive to construction and industrial companies. For instance, telematics allows operators to track equipment performance and maintenance needs remotely, reducing downtime and extending the lifespan of the cranes. As technology continues to evolve, the market is expected to witness a surge in demand for boom trucks equipped with the latest features, driving overall growth in the sector.

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High initial costs and ongoing maintenance expenses could hamper the growth of the market. In addition, the complex regulatory environment, including stringent safety and environmental standards, can increase compliance costs and operational challenges. Furthermore, the availability of alternative lifting solutions, such as aerial work platforms or traditional cranes, may limit market growth as companies evaluate the most cost-effective options for their needs. However, growing technological advancements and the rising development of boom trucks with a focus on emission control are expected to improve the market’s growth.

Boom Truck Market Report Scope

Key Boom Truck Company Insights

Key players operating in the boom truck market include The Manitowoc Company, Inc.; Fassi Gru S.p.A.; Elliott Equipment Company; Altec Industries; Manitex International, Inc.; Terex Corporation; Palfinger AG; Tadano Ltd.; Load King; and QMC Building Cranes. The vendors are focusing on numerous strategic initiatives, including agreements, new product development, and partnerships & collaborations to gain a competitive advantage over their rivals. The following are some instances of such initiatives:

• In August 2023, Link-Belt launched a 120 TTLB telescopic boom truck crane. The Link-Belt 120 TTLB truck terrain crane is equipped with a 197 ft. (60 m) seven-section pin and latch boom, along with all-wheel steering and a tight turning radius. Its all-wheel steering capability makes the 120 TTLB highly maneuverable in confined jobsite spaces. Equipped with a steerable rear axle and super single tires, the 120 TTLB offers four steering modes: independent rear, independent front, combination, and crab.
• In March 2023, Manitex International, Inc. introduced the TC850 Series truck-mounted crane. The TC85159 model offers an 85-ton base rating at a 10-foot radius and is equipped with a 159-foot, 5-section full power boom that extends proportionally. It provides a tip height of 168 feet, or up to 228 feet when fitted with the optional 2-piece, 30’-60’ bi-fold offset lattice jib.

Key Boom Truck Companies:

The following are the leading companies in the boom truck market. These companies collectively hold the largest market share and dictate industry trends.

• The Manitowoc Company, Inc.
• Fassi Gru S.p.A.
• Elliott Equipment Company
• Altec Industries
• Manitex International, Inc.
• Terex