Home > Automotive > Mobility > Commercial Vehicles > Bucket Trucks Market

Bucket Trucks Market Size

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

Download Free Sample

Bucket Trucks Market Size

Bucket Trucks Market size was valued at USD 1.3 billion in 2022 and is estimated to register a CAGR of over 7% between 2023 and 2032. Rising sales of commercial vehicles, especially in the construction, utilities, and maintenance sectors, are driving the demand for bucket trucks. As businesses expand fleets, there is a corresponding need for specialized vehicles such as bucket trucks to support various tasks at elevated heights. According to the Society of Indian Automobile Manufacturers’ domestic sales statistics in 2022, around 962,468 commercial vehicles were sold in the Indian market. Increasing construction projects and infrastructure developments further amplify this demand, propelling the market demand.

To get key market trends

Download Free Sample

Growing infrastructure development projects worldwide are a key factor driving the bucket trucks market. As countries invest in building & upgrading their roads, bridges, and public utilities, the demand for bucket trucks rises significantly. These vehicles are essential for tasks such as installing streetlights, maintaining utility lines, and repairing infrastructure elements at elevated heights. As urban areas expand and new infrastructure projects emerge, the market for bucket trucks continues to enlarge to meet the demands of construction & maintenance activities.

Bucket Trucks Market Report Attributes
Report Attribute	Details
Base Year:	2022
Bucket Trucks Market Size in 2022:	USD 1.3 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	7%
2032 Value Projection:	USD 2.7 Billion
Historical Data for:	2018 - 2022
No. of Pages:	200
Tables, Charts & Figures:	453
Segments covered:	Product, Type, Application
Growth Drivers:	Increasing investments in infrastructure development across the globe Increasing installation of displays and banners across the globe Growing urbanization in the U.S. Government investments in power grid upgradation projects
Pitfalls & Challenges:	High initial cost of bucket trucks Costs associated with maintenance

Learn more about the key segments shaping this market

Download Free Sample

The high initial cost of bucket trucks can pose a significant obstacle to market growth. Many businesses, especially small enterprises and startups may find it financially challenging to invest in these specialized vehicles. This cost barrier can deter potential buyers, limiting market expansion. To mitigate this challenge, manufacturers and financial institutions often offer leasing & financing options, making bucket trucks more accessible to a broader range of businesses. Such initiatives can help overcome the hurdle of high upfront expenses, stimulating market demand.

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.