Bucket Trucks Market Analysis

Bucket Trucks Market Analysis

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Based on type, the non-insulated segment held over 80% of the market share in 2022. Escalating forestry management activities are driving the non-insulated segment demand. As efforts to manage forests intensify, there is a growing need for specialized vehicles that can handle tasks such as tree trimming and maintenance efficiently.

For instance, in August 2023, the Georgia Forestry Commission revealed several funding opportunities for community forestry management and tree planting initiatives. They are currently accepting applications for three grants aimed at supporting programs related to tree plantings, distribution, and maintenance. These grants are designed to protect and enhance the numerous benefits offered by thriving urban forests. Non-insulated bucket trucks, tailored for these activities, are in high demand due to their versatility and cost-effectiveness. These rising forestry management initiatives are further fueling the non-insulated segment growth over the forecast period.

Based on application, the utility segment accounted for 47% of the bucket trucks market share in 2022. Technological advancements are pivotal in propelling utility applications in the market. Innovations such as enhanced hydraulic systems, intuitive control interfaces, and automation features significantly improve the efficiency, safety & precision of utility-related tasks. These advancements enable utility companies to perform maintenance, repairs, and installations more effectively, reducing downtime & enhancing overall productivity. The integration of smart technologies and IoT capabilities further refines operational processes, making bucket trucks equipped with these features highly desirable for utility applications, thus driving market growth.

North America bucket trucks market size recorded more than 40% of the revenue share in 2022, propelled by robust infrastructure development initiatives and aging utility systems. Ongoing investments in construction projects and utility maintenance create a consistent demand for bucket trucks, utilized for tasks such as electrical line installations and upgrades. Simultaneously, the need to upgrade aging utility infrastructure drives market growth with utilities relying on bucket trucks for routine maintenance and repairs. Stringent safety regulations and the necessity to adhere to modern standards further fuel market expansion in this region.