Selbyville, Delaware, July 13, 2020 (GLOBE NEWSWIRE) --
Global Market Insights, Inc. has recently added a new report on bucket trucks market which estimates the global market valuation for bucket trucks will cross US$ 1.5 billion by 2026. Increasing adoption of advanced aerial lifting equipment across utility and construction applications will drive the market growth over the forecast timeline. Technical advancements in bucket trucks including powerful engines, high capabilities, and green fuel operability add up to the demand globally. Additionally, the need for efficient and safe worker lifting machines in application industries to reduce workplace fatalities is promoting the adoption of bucket trucks over traditional counterparts including ladders and scaffoldings.
The increasing popularity of bucket trucks in utility applications including electricity and water works for installation & maintenance purposes is a major market driver. Additionally, the availability of standard-compliant and electric engine-based trucks promotes their utilization in government applications. Electricity companies are increasingly adopting these trucks to ensure maximum worker safety at heights and reduce fatalities.
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The rapid spread of COVID-19 pandemic across the globe in 2020 has impacted the manufacturing & sales activities of the bucket trucks. Manufacturers are facing huge losses due to lowered sales figures and a temporary shutdown of production facilities. Limitation & halt of new construction and repair & maintenance activities across application industries will pose a huge impact on the industry in 2020 and 2021. However, the removal of lockdowns and recovery of the construction & telecommunication sector will add up to the industry development during the forecast period.
The North America bucket trucks market has posed a high demand in recent years due to increased utilization across various industries. These trucks find applications across construction, utility, and telecommunications in the U.S. due to low labor availability and high usage of machines. Additionally, the presence of several major manufacturers in the region promotes high consumer awareness and easy availability of bucket truck options.
Browse key industry insights spread across 258 pages with 426 market data tables & 23 figures & charts from the report, “Bucket Trucks Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/bucket-trucks-market
Some major findings in the bucket trucks market report include:
- Growing investments in advanced construction and maintenance of new & old buildings will promote truck sales.
- Technical advancements in bucket truck engines and usage of low polluting fuel alternatives will capture consumer focus.
- Bucket trucks are experiencing rapid adoption in North America and Europe due to the demand for maintenance & repair operations from private & public industries.
- High focus of truck manufacturers on developing advanced products to support R&D activities across operational regions.
Key players operating in the bucket trucks market include Palfinger AG, Tadano Ltd., Manitex International, and Aichi Corporation, among others
Market leaders are focused on new product development and technical advancement activities to gain a major share. For instance, Manitowoc announced the launch of its new NBT60L bucket truck specifically for oil & gas and utility sectors. Manufacturers are making huge R&D investments in developing highly efficient equipment and adding software capabilities for handling these machines. Furthermore, expansion into untapped regions by Asian and North American players is a major market growth strategy, promoting increased consumer awareness.
Browse complete reports table of contents (ToC): https://www.gminsights.com/toc/detail/bucket-trucks-market
Partial chapters of report table of contents (TOC):
Chapter 3 Bucket Truck Industry Insights
3.1 Industry segmentation
3.2 Impact analysis of COVID-19 pandemic
3.2.1 Global outlook
3.2.2 Impact by region
3.2.2.1 North America
3.2.2.2 Europe
3.2.2.3 Asia Pacific
3.2.2.4 Latin America
3.2.2.5 MEA
3.2.3 Industry value chain
3.2.4 Competitive landscape
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.3.2 Vendor matrix
3.4 Technological and innovation landscape
3.4.1 Plug-in hybrid electric vehicle
3.4.2 Battery electric vehicle
3.5 Regulatory landscape
3.5.1 North America
3.5.1.1 U.S.
3.5.1.1.1 OSHA 29 CFR 1926.21
3.5.1.1.2 The Scaffold & Access Industry Association
3.5.1.1.3 ANSI/SAIA A92.2-2015
3.5.1.1.4 ANSI/SAIA A92.5-2006 (R2014)
3.5.1.2 Canada
3.5.1.2.1 Canadian Standards Association, CSA C225-00
3.5.1.2.2 Canadian Standards Association, CSA C225-00
3.5.2 Europe
3.5.2.1 European emission regulations
3.5.2.2 EN280:2013
3.5.2.3 Provision and Use of Work Equipment Regulations (PUWER)
3.5.2.4 UK
3.5.2.4.1 European Community Whole Vehicle Type Approval (EC WVTA)
3.5.2.5 France
3.5.2.5.1 Air Quality Certificate
3.5.2.6 Russia
3.5.2.6.1 EurAsian Conformity Mark (EAC)
3.5.2.6.2 European Union Standards
3.5.2.6.3 Emission Controls Standards
3.5.3 Asia Pacific
3.5.3.1 NTPC
3.5.3.2 China
3.5.3.2.1 The International Council on Clean Transportation
3.5.3.3 India
3.5.3.3.1 Emission Standards
3.5.3.4 Japan
3.5.3.4.1 Air Quality Standards
3.5.4 Latin America
3.5.4.1 NR12
3.5.5 MEA
3.5.5.1 Occupational Health & Safety Act, 1993
3.5.5.2 Driven machinery regulations, 2011
3.5.5.3 The South African Bureau of Standards (SABS)
3.5.5.4 ZABS (ZS 385)
3.5.5.5 OSH Regulations
3.5.5.6 GCC Standardization Organization - GSO 42:2015
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Increasing investments in infrastructure development across the globe
3.6.1.2 Increasing installation of displays and banners across the globe
3.6.1.3 Increasing urbanization in the U.S.
3.6.1.4 Government investments in power grid upgradation projects in India
3.6.1.5 Increasing demand for efficient and safer lifting solutions from BRIC countries
3.6.1.6 Increasing adoption of bucket trucks in China and Japan
3.6.1.7 Rapid urbanization in Southern African countries
3.6.2 Industry pitfalls and challenges
3.6.2.1 High initial cost of bucket trucks
3.6.2.2 Costs associated with maintenance
3.6.2.3 Lack of trained operators
3.7 Growth potential analysis
3.8 Porter’s analysis
3.8.1 Threat of new entrants
3.8.2 Buyer’s power
3.8.3 Supplier’s power
3.8.4 Industry Rivalry
3.8.5 Threat of substitutes
3.9 PESTEL analysis
Browse related report:
Aerial Work Platforms (AWP) Market Size By Product (Boom Lifts, Scissor Lifts, Vertical Mass Lifts, Personal Portable Lifts), By Type (Electric, Engine Powered), By Platform Height (Below 10 Meters, 10 to 20 Meters, 20 to 25 Meters, Above 25 Meters), By Application (Rental, Construction & Mining, Government, Transportation & Logistics, Utility), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026
https://www.gminsights.com/industry-analysis/aerial-work-platform-awp-truck-market-report
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.