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Bucket Trucks Market Share

Report ID: GMI4285
Published Date: Oct 2023
Report Format: PDF

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Bucket Trucks Market Share

Major companies operating in the bucket trucks industry are:

Aichi Corporation
Altec Inc.
Axion Lift
Bronto Skylift
CTE Group SPA
Dur-A-Lift Inc.
Elliott Equipment Company
Equipment Technology LLC
Manitex International Inc.
Palfinger AG
Tadano Ltd.
Terex Corporation
Versalift
Terex Corporation

Palfinger AG are the major market players operating in the market. Major market companies operating in bucket truck market are focusing on various inorganic growth strategies to stay competitive in the market. Companies form strategic partnerships and alliances with other organizations to leverage complementary strengths and resources. These collaborations can lead to joint product development, expanded distribution networks, and shared research and development efforts.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of bucket trucks reached USD 1.3 billion in 2022 and is set to grow at over 7% CAGR between 2023 and 2032, due to the rising sales of commercial vehicles, especially in the construction, utilities, and maintenance sectors.

The non-insulated type segment held more than 80% of the market share in 2022, owing to the escalating forestry management activities and the growing need for specialized vehicles to handle tasks, such as tree trimming and maintenance efficiently.

The utility application segment garnered over 47% of the bucket trucks market share in 2022, propelled by innovations, such as enhanced hydraulic systems, intuitive control interfaces, and automation features to significantly improve the efficiency, safety & precision of utility-related tasks.

North America accounted for 40% of the market share in 2022, led by robust infrastructure development initiatives and aging utility systems in the region.