by The global bucket trucks market size was exhibited at USD 1.32 billion in 2023 and is predicted to be worth around USD 2.93 billion by 2034, expanding at a CAGR of 7.53% from 2024 to 2034.
Bucket Trucks Market Key Points
- Asia Pacific held the largest share of the bucket trucks market in 2023.
- North America is expected to witness the fastest growth in the market over the studied period.
- By product, the class 8 segment held the largest share of the market in 2023.
- By product, the class 6 segment is expected to show the fastest growth over the projected period.
- By type, the non-insulated segment held the largest share of the market in 2023.
- By type, the insulated segment is expected to show the fastest growth over the projected period.
- By application, the utility segment has held the largest revenue share of 48% in 2023.
- By application, the construction segment is expected to show the fastest growth over the projected period.
Bucket trucks, also known as aerial work platforms or cherry pickers, are specialized vehicles equipped with an extendable arm or bucket used to elevate workers to heights for various maintenance, construction, and utility tasks. These trucks are essential in industries such as telecommunications, electric utilities, construction, and tree care services, facilitating safe access to elevated work areas.
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Trends:
Recent trends in the bucket trucks market include advancements in technology to enhance safety and efficiency, such as improved control systems, telematics integration for remote monitoring, and the development of hybrid or electric-powered models to meet environmental regulations and reduce operational costs. There’s also a growing demand for compact and versatile bucket trucks suitable for urban environments and confined spaces.
Regional Insights:
North America dominates the bucket trucks market, driven by extensive utility infrastructure development and stringent safety regulations. Europe follows with increasing adoption in construction and maintenance activities. Asia-Pacific shows promising growth due to rapid urbanization, infrastructure expansion, and investments in renewable energy projects.
Bucket Trucks Market Scope
| Report Coverage | Details |
| Market Size by 2034 | USD 2.93 Billion |
| Market Size in 2023 | USD 1.32 Billion |
| Market Size in 2024 | USD 1.42 Billion |
| Market Growth Rate from 2024 to 2034 | CAGR of 7.53% |
| Largest Market | Asia Pacific |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Segments Covered | Type, Application, Product, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Bucket Trucks Market Dynamics
Drivers:
Key drivers of the bucket trucks market include rising investments in infrastructure development globally, especially in utilities and telecommunications sectors. The need for efficient and safe aerial access solutions for maintenance and repair activities in urban and rural areas also fuels market growth. Additionally, stringent safety regulations mandating the use of certified equipment further propel market demand.
Opportunities:
Opportunities in the bucket trucks market lie in expanding applications beyond traditional sectors, such as entertainment and event management, where aerial access is crucial. Moreover, technological advancements present opportunities for manufacturers to innovate with features like automation, remote operation capabilities, and advanced safety systems to cater to diverse customer needs globally.
Challenges:
Despite growth prospects, the bucket trucks market faces challenges such as high initial costs associated with advanced models and maintenance. Additionally, regulatory complexities across different regions regarding vehicle certifications and safety standards pose challenges for market players expanding their operations globally. Economic uncertainties and fluctuations in raw material prices also impact market dynamics.
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Bucket Trucks Market Companies
- Altec Inc.
- Dur-A-Lift Inc.
- Aiche Corporation
Recent Developments
- In December 2023, the MineSense Data Portal, a platform that uses real-time data from ShovelSense® and BeltSense® to provide mining operators with data-driven insights for mine-to-mill optimization, has officially launched, according to a statement from MineSense Technologies. Access to real-time data produced by ShovelSense and BeltSense at crucial junctures in the ore processing value chain is made possible by the robust digital infrastructure known as the MineSense Data Portal.
- In September 2023, with the introduction of its electric bucket truck, Alectra moved closer to electrifying its whole fleet. An International eMV all-electric double bucket truck has been added to Alectra Utilities’ collection. Powerline technicians will utilize the EV for routine overhead line maintenance tasks. Alectra received one of the first trucks delivered in Ontario.
Segment Covered in the Report
By Type
- Insulated
- Non-insulated
By Application
- Construction
- Utility
- Telecommunication
- Forestry
By Product
- Class 4
- Class 5
- Class 6
- Class 7
- Class 8
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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