Boom Trucks Market Worth Over $500mn by 2024

Global Market Insights Inc.

OCEAN VIEW, Delaware, February 23, 2017 /PRNewswire/ --

The industry report "Boom Trucks Market Size By Application (Utility, Telecommunication, Construction & Logistics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, China, India, Japan, Australia, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2024" by Global Market Insights, Inc. says Boom Trucks Market size is slated to cross USD 500 million by 2024.

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Steady demand generated by applications including heavy and light industrial work such as utility and electrical contracting work, signage and lighting applications coupled with the rapid pace of warehousing and industrialization is driving the boom trucks market. Developments in the utility and telecom sector in the regions including U.S., India, China, UK and France offer ample opportunities to the boom trucks market growth. These regions are witnessing high demand to meet the requirement of utility and construction industry. Increasing investment to improve the infrastructure and rising consumption of electricity across China, and India have also escalated demand.

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Rising penetration of anti-idling technology is anticipated to propel the boom trucks market size over the next eight years. The technology is used to reduce the amount of carbon emissions from trucks, which leads to a high percentage of environmental pollution. It shuts off the engine automatically when the equipment is being used but not being driven, and is assessed to deliver emission reduction and limit the environmental pollution and fuel cost significantly. The increasing hybrid boom trucks market size is predicted to offer tremendous growth prospects to the industry.

Stringent government regulations across the globe associated with the usage of vehicles used for loading and lifting purposes is expected to drive consumption. For instance, U.S. Department of Labor issued a regulation according to which employers are responsible to provide a safe workplace. The regulation is also applied to the power-operated equipment that can lower, hoist and horizontally move a suspended load. Such equipment includes articulating cranes, crawler cranes; cranes on barges; floating cranes; locomotive cranes; and boom trucks.