Bucket Trucks Market Regional Analysis and Forecast during 2020 – 2026

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Bucket Trucks Market Analysis by Growth Drivers
and Current Trends till 2026

• Growing adoption of modern aerial lifting
  equipment in the utility and construction sectors
  is anticipated to drive bucket trucks market size
  over the forecast period. Factors like high
  capability, powerful engines and operability with
  green fuel are driving vehicle demand worldwide.
  Moreover, the need for safe and efficient lifting
  machines that lower changes of potential
  fatalities at work sites are furthering the
  preference of bucket trucks, driving overall
  market growth.
• However, the ongoing coronavirus pandemic has
  negatively impacted sales and manufacturing of
  the bucket trucks. Reduced sales figures and
  temporary shutdown of production sites has led to
  huge business losses. Stagnant repair and
  maintenance activities across infrastructural
  projects has majorly impacted industry growth,
  with conditions likely to remain the same in
  2021.

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• Nevertheless, recovery of the telecommunication
  and construction sectors following gradual
  removal of lockdown restrictions may improvement
  the growth dynamics of bucket trucks market
  during the forecast timeframe. According to
  Global Market Insights, Inc., the bucket trucks
  market size is anticipated to exceed USD 1.5
  billion by 2026.

• Technical improvements and the adoption of more
  sustainable, low polluting fuel options across
  all the product types is expected to boost market
  size. Truck manufacturers are focusing on making
  advanced vehicle segments in order to support
  research and development activities across
  various operating regions.

• Based on application, the bucket trucks market is
  divided into telecommunication, utility (water
  and electric), forestry and construction. Of
  these, the popularity of bucket trucks in the
  utility sector is growing exponentially owing to
  the increasing vehicle use in maintenance and
  installation activities. Availability of electric
  and standard compliant engine-based trucks may
  propel their use in the government sector. Bucket
  trucks are also used by electricity companies in
  order to reduce fatalities and ensure maximum
  safety for workers.

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• Regional Analysis

• Geographically speaking, the adoption of bucket
  trucks in North America and Europe is rapidly
  growing due to the increasing demand for repair
  and maintenance operations from public and
  private industries. In North America, bucket
  trucks are widely used across the
  telecommunications, construction and utility
  sectors owing to a high usage of machines and
  availability of low labor.

• Competitive Analysis

• On a global scale, the competitive landscape of
  the bucket trucks market consists of companies
  such as Manitex International, Aichi Corporation,
  Tadano Ltd., and Palfinger AG. These companies
  are focusing on technical advancements and new
  product development to enhance their position in
  the market.

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et-trucks-market
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