According to MarketSizeForecasters.com, the boom truck market is expected to exceed $500 million by 2024. The demand is generated by heavy and light industrial applications, including utility and electrical contracting work, signage, and lighting, 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,” the market research company reported. “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.”
Rising penetration of anti-idling technology is anticipated to propel the boom trucks market size over the next eight years. Stringent government regulations across the globe associated with the usage of vehicles used for loading and lifting purposes is also expected to drive consumption.
The telecom sector is continuing to be a critical force for innovation, growth, and disruption, the company said. The segment is witnessing booming growth across the globe, creating demand for heavy equipment such as boom trucks for efficient operations that aids in performing more work in less time in the infrastructure development activities.