Global Truck-mounted Aerial Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Truck-mounted Aerial Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Truck-mounted aerial devices is a mobile platforms mounted on a truck or other vehicle that can provide temporary aerial workspace. It uses telescoping booms to lift workers, equipment, and materials to elevated work sites and provides mobility and stability for work sites with rough surfaces. Truck-mounted aerial devices can be used for municipal maintenance, construction, telecommunications, industry, etc.

Market Overview:

The latest research study on the global Truck-mounted Aerial Devices market finds that the global Truck-mounted Aerial Devices market reached a value of USD 4157.27 million in 2022. It’s expected that the market will achieve USD 6834.73 million by 2028, exhibiting a CAGR of 8.64% during the forecast period.

Increased demand for lightweight and compact equipment

Lightweight and compact equipment is a market trend in the truck-mounted aerial devices industry and is expected to have a positive impact in the future. As the world continues to pay attention to environmental protection, regulations to reduce the gross weight rating of vehicles, vehicle-mounted aerial work equipment manufacturers, and downstream users gradually increase the economic requirements of products, these factors together promote the development of truck-mounted aerial devices to the trend of energy saving and environmental protection. Advances in battery technology, hybrid technology, and new material technology have promoted the development of the industry towards electrification, hybridization, and lightweight. Benefits of lower gross vehicle weight include increased payload and improved fuel efficiency, lower equipment purchase costs, minimized insurance costs, and lower emissions. At the same time, manufacturers are using high-strength materials to enhance extra protection for vulnerable areas of the device, ensuring years of reliable use. Versalift, for example, uses advanced lightweight steel in the construction of its aerial lift turret and uses aluminum inner booms. BrandFX manufactures truck bodies from advanced composite fiberglass materials that increase payload capacity and reduce operating costs. BrandFX is lightweight and highly durable, which allows them to withstand continued heavy use while maintaining a clean, unblemished appearance. Additionally, electric trucks are gaining traction. Electric trucks can protect construction areas from environmental and noise pollution, significantly reducing public disturbances. The compact size allows them to be used on roadsides and sidewalks without obstructing traffic. Can work in enclosed spaces thanks to the emission-free engine. For example, CTE and Green-G are cooperating to launch an all-electric vehicle platform project. Data shows that fleets can achieve fuel savings of up to 50% by utilizing truck sizing, alternative fuels, and lightweight materials. Therefore, increasing demand for lightweight and compact devices will create new market growth points for the truck-mounted aerial devices industry.

Intelligent development

Advances in information technology enable manufacturers to continuously increase the release of smart products to expand their product portfolio and enhance their global presence. The application of intelligent technology includes engine electronic control systems, hydraulic control systems, automatic operation, visual driving, precise positioning and operation, fault diagnosis and monitoring, energy saving, environmental protection, etc. The advancement of intelligent technology has helped manufacturers develop various new products, which have greatly improved the performance of construction machinery and equipment in terms of safety, efficiency, energy conservation, and environmental protection. Based on realizing product functionality, continuous improvement of product safety, intelligence, comfort, convenience, and reliability has become the focus and development trend of the truck-mounted aerial devices industry. Since operators of truck-mounted aerial devices usually need to work at high altitudes, the quality of the control performance directly affects the quality of the work and the psychological state of the operator, so the requirements for the accuracy and smoothness of the control are very high. It is an important development direction of truck-mounted aerial devices to develop a safe control algorithm that is stable and reliable, has high control precision, and has a strong anti-interference ability. For example, advanced sensor technology can be used to detect nearby objects and obstacles, and monitor machine gauges, including engine temperature, battery voltage, or oil pressure, for service alerts. Socage has launched a new Speed model range with automatic stabilization. The automatic stabilization feature increases productivity in less time and under safe conditions. Socage also leveraged the introduction of the Speed Series to improve handling, safety, and operator assistance. In addition, more and more attention is paid to the ease of maintenance and interactivity of equipment. Through the friendly human-machine interface and fast interactive features, maintenance personnel can quickly and accurately perform maintenance, reduce downtime, and create more benefits for customers. Therefore, the advancement of information technology enables manufacturers to provide more intelligent products, which has a positive impact on the development of the truck-mounted aerial devices industry in the future.

Disadvantages of truck-mounted aerial devices

There are also some disadvantages when using truck-mounted aerial devices. One of the main challenges is the need to maintain and repair equipment. Outdoor weather and harsh environments and conditions in industrial areas can cause damage to equipment, resulting in frequent repairs and maintenance. Another major drawback is the lack of trained operators. While truck-mounted aerial devices add more built-in safeguards to support them, the primary responsibility for safe operations still lies with the operator. Modern truck-mounted aerial devices are built with advanced technology and require skilled employees to manage and execute them. To prevent collisions, the operator must be very careful and skillful in controlling the platform when lifting the equipment to a certain height. According to the U.S. Occupational Safety and Health Administration, forklift accidents kill about 85 people each year, in addition to causing about 35,000 serious injuries and 62,000 non-serious injuries each year. Causes of forklift accidents include rollovers, speeding, operations beyond the safe operating limits of the forklift, overloaded or unsecured cargo, operator vision blocked by cargo, inadequate inspection and maintenance, and lack of protective equipment. OSHA estimates that approximately 70 percent of forklift accidents could be prevented through better training and safety procedures. Hence, for the truck-mounted aerial devices market, lack of awareness to operate these vehicles, lack of skilled labor, and insufficient knowledge about advanced technologies will hamper the growth of the market. Also, compared to other lifting equipment, truck-mounted aerial devices are complex operating equipment that is more expensive than their alternatives. This limits the market penetration to small and mid-sized companies that do not require daily use of vehicle-mounted aerial work equipment or have low project costs. Therefore, these disadvantages of truck-mounted aerial devices may hinder the further expansion of the market size.

Region Overview:

In 2022, the share of the Truck-mounted Aerial Devices market in North America stood at 43.30%.

Company Overview:

The major players operating in the Truck-mounted Aerial Devices market include Terex, TIME Manufacturing, Aichi, Altec, Bronto Skylift, etc. Among which, Terex ranked top in terms of sales and revenue in 2023.

Terex is a global manufacturer of materials processing machinery and aerial work platforms. We design, build and support products used in construction, maintenance, manufacturing, energy, recycling, minerals, and materials management applications. Certain Terex products and solutions enable customers to reduce their environmental impact including electric and hybrid offerings that deliver quiet and emission-free performance, products that support renewable energy, and products that aid in the recovery of useful materials from various types of waste. Our products are manufactured in North America, Europe, Australia, and Asia and sold worldwide. We engage with customers through all stages of the product life cycle, from initial specification and financing to parts and service support.

Terex Utilities is a leading global manufacturer of bucket trucks and digger derricks for the electric utility industry. Terex offers service and parts support across North America and works to understand the challenges of your utilities and earn your trust. The Terex team is committed to delivering reliable equipment, innovative technology, and quality service as well as parts and auger tooling. Terex Utilities is a business group within the Aerial Work Platforms business segment of Terex Corporation.

Altec is a leading provider of products and services to the electric utility, telecommunications, tree care, lights and signs, and contractor markets. We deliver products and services in more than 100 countries throughout the world. Altec, Inc. is the holding company for Altec Industries, Global Rental, Altec NUECO, Altec Worldwide, Altec Capital, Altec Supply, and Altec Ventures, LLC.

Since 1929, Altec has been a company committed to excellence. Our products are the industry leaders and consistently raise the bar through innovative product design, integrated safety features, and continued dedication to total customer satisfaction.

Segmentation Overview:

By type, Less than 20m segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Municipal segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Truck-mounted Aerial Devices market covered in Chapter 3:

TIME Manufacturing
Klubb
Tadano
Bronto Skylift
Socage
Dur-A-Lift Inc.
Aichi
Multitel Pagliero
Altec
Terex
Elliott Equipment
Nifty-Lift
Palfinger
CTE
GMJ Equipment
Manitex Inc.

In Chapter 4 and Chapter 14.2, on the basis of types, the Truck-mounted Aerial Devices market from 2018 to 2029 is primarily split into:

Less than 20m
More than 20m

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Truck-mounted Aerial Devices market from 2018 to 2029 covers:

Municipal
Telecommunication
Construction
Industrial Application
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)