Bucket Trucks market is likely to witness a CAGR of 5.2% during the forecast period, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Bucket Trucks market
The prime factor driving the bucket trucks market is rapid industrialization and urbanization leading to significant development in infrastructures.
Asia-Pacific is estimated to be the largest market for bucket trucks during the forecast period. China, Japan, South Korea, Taiwan, Australia, and India are the largest consumers of bucket trucks in the region. Rapid urbanization, growing disposable income of consumers, expanding infrastructure industry, and economic growth in the region are the major factors driving the growth of the Asia-Pacific market. North America and Europe are also expected to witness a healthy demand for bucket truck products during the forecast period.
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Report Scope & Market Segmentation
Bucket Trucks Market Share: By Product Type
Based on the product type, the market is segmented as class 4, class 5, class 6, class 7, and class 8. The class 8 segment dominated the market in 2020 and is expected to maintain its position during the forecast period. Rapidly expanding usage of class 8 products for the installation of electric power grids and communication system is driving the growth and dominance of the segment.
Bucket Trucks Market Share: By Application Type
Based on the application type, the bucket trucks market is segmented as construction, utility, telecommunication, forestry, and others. The telecommunication segment is expected to witness the highest growth owing to rapidly expanding 4G and 5G infrastructures across the globe.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
What is the impact of COVID-19 on the market forecast?
What are the trends, drivers, and challenges?
How competitive is the market? Who are the market leaders?
What are the key strategies adopted by the market players?
Which segments offer the greatest opportunities?
Which are the most attractive regions?
What are the key success factors for the market players?
How does the business environment impact the market?
Which strategic alliances have taken place recently and their significance?
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
Know more about us:
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