3 trends that are expected to shape bucket trucks market by 2024
Publisher : Fractovia | Published Date : 2019-09-05Request Sample
Growing concerns for safety practices and safe equipment usage in the infrastructure development industry is propelling bucket trucks market size. Increasing investments in infrastructure coupled with growing construction sector is increasing the product penetration.
Bucket trucks, (also known as aerial bucket) are extremely useful for accessing areas far above the ground level, taking workers to more than 200 ft. in the air. It is a vehicle-mounted device used to elevate personnel. They can be powered as well as manually operated and can rotate around a primarily vertical axis. They may be made of fiberglass reinforced plastic, metal or other materials.
Bucket trucks have replaced ladders and scaffolding on many job sites due to their flexibility and mobility. There is a vast range of applications areas for bucket trucks, including electric, utility & telecom, fire rescue, photography & filmmaking, construction, exterior painting, fruit picking, animal rescue, etc.
Bucket trucks play a crucial role in aiding municipality work and transportation department, for maintenance and service of highway lighting and traffic signals. Moreover, tree care companies, forest services and public parks departments require bucket trucks to maintain trees on public and private lands.
Listed below is a list of factors influencing bucket trucks market outlook:
Rise in construction activity enlarging scope for bucket trucks market trends
Several countries in Asia Pacific are undertaking large-scale projects to refurbish their existing infrastructure. Countries like China and India are preferring reliable construction equipment over the traditional ones to ensure operator safety.
Growing construction activity across the world is providing impetus to global bucket trucks market.
Construction industry in emerging economies such as that of China and India has registered exponential growth which has led to substantial demand in the bucket tracks industry as well. In India, urban development as well as real estate sectors had been growing at such a rate that has led to substantial impact on the bucket trucks industry size.
By 2025, construction output is estimated to grow by 7.1% each year, and by the same time, construction industry in India is estimated to emerge as the third largest globally. Due to increased demand for safer application of the product in the construction industry bucket trucks are in greater demand.
Growing requirement of buckets trucks in expanding telecommunication sector
Bucket trucks are crucial to electric utilities and are equally important in the telecommunications industry. A lot of non-mobile telecom data is transferred through overhead cabling. Bucket trucks play a significant role in servicing and maintenance of telecommunications network. Bucket trucks are known for delivering significant value to technicians, fleet managers & other stakeholders in the telecommunications industry.
Several countries are planning to invest in refurbishment and enhancement of their existing telecom infrastructure. 5G technology is also in the testing phase and is poised to be launched in some markets later in 2019 and will inevitably increase expansion of telecommunication sector. Expansion of telecom companies in emerging economies is fueling the bucket truck industry share owing to requirement of handling, maintaining and servicing transmission lines.
These trucks are sturdy and are available in a variety of designs to suit the purpose, which makes them ideal for convenient usage in telecommunication sector. Increasing demand for enhanced telecom infrastructure for improved connectivity is also influencing bucket trucks market growth.
Massive utilization of bucket trucks in power transmission industry
Most of the power grid is connected through overhead means, and has to be maintained, managed and serviced. Bucket trucks are essential to both power transmission and the power distribution industries. Nearly every home and business in the U.S. is connected to the power grid, signaling heavy requirement of bucket trucks. Governments across the globe are augmenting grid systems and enhancing the transmission system network.
Bucket trucks find usage throughout big cities, small towns, suburban communities, as well as in business districts. They come in insulated & non-insulated, end-mounted or side-mounted forms along with horizontal-vertical reach and platform capacity. Bucket trucks market will gain traction owing to growing focus on augmentation of power transmission and telecommunication systems.
Population growth, urbanization and government initiatives are the key factors driving demand for reliable lifting equipment to ensure operator safety. As a result, bucket trucks market will gain momentum over the forecast period. As per Global Market Insights estimates, bucket trucks market to worth over USD 1.5 billion by 2024.
