Bucket Truck Rental Market Research Report By Application (Construction and Utilities, Telecommunications and Cable, Tree Care and Arboriculture, Inspection and Maintenance, Other), By Vehicle Type (Standard Bucket Trucks, Aerial Lifts, Boom Lifts, Scissor Lifts, Other), By End User (Utility Companies, Construction Contractors, Tree Care Companies, Industrial Maintenance Companies, Other), By Rental Period (Short-Term Rentals (Less than 30 days), Medium-Term Rentals (30-90 days), Long-Term Rentals (Over 90 days)), By Bucket Truck Capacity (

Global Bucket Truck Rental Market Overview

The Bucket Truck Rental Market Size was estimated at  USD 4.36 Billion in 2022. The Bucket Truck Rental Industry is expected to grow from USD 4.57 Billion in 2023 to USD 6.9 Billion by 2032. exhibiting a compound annual growth rate (CAGR) of 4.7% during the forecast period (2024 - 2032).

Key Bucket Truck Rental Market Trends Highlighted

The bucket truck rental market is experiencing several important trends. One significant trend is the increasing demand for bucket trucks in the construction industry. As construction projects become larger and more complex, contractors are increasingly relying on bucket trucks to reach heights and perform tasks that would otherwise be difficult or impossible. Another trend is the growing popularity of electric bucket trucks. Electric bucket trucks are more environmentally friendly and have lower operating costs than gasoline-powered models. As a result, many companies are switching to electric bucket trucks to reduce their environmental impact and save money. Additionally, advances in technology are leading to the development of new bucket truck models that are more efficient, versatile, and safer than ever before. These advancements are making bucket trucks even more indispensable to businesses in a wide range of industries.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Bucket Truck Rental Market Drivers

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  Rising Demand for Bucket Trucks in Construction and Utility Sectors

  
  

The major driver of the global bucket truck rental market is the increasing demand for these vehicles in the construction and utility sectors. Construction and utility companies require bucket trucks for maintaining electric line and cable combinations, painting, window cleaning, and hanging, repairing, and replacing signs or lighting for the highest points of buildings. Since bucket trucks are irreplaceable when working at heights, the increase in construction activity across the world will drive the demand for bucket truck rentals. For instance, the global construction industry, over the past five years, has steadily grown, mainly because of the expansion of new markets in Southeast Asia and India. Moreover, the rising need for electricity and transmission lines and increasing construction allow the growing demand for electricity in developed countries to impact the demand for renting bucket trucks. The utility industry is the second-largest end user of these trucks that renew, expand, and maintain the existing power grid across the country.The aging of the electrical grid and the rise in demand for communication services will also contribute to the demand for bucket trucks, which allow workers from the utility and cable companies to access telephone polls without lasing. Considering all the facts described above and the importance of bucket trucks for the construction and utility sectors for such needs as electric line maintenance, painting, window cleaning, and hanging signs, the key driver of the global bucket truck rental market will be the growing expansion in the two sectors.In other words, the increasing demand for bucket trucks in the construction and utility sectors will support the rental market for these vehicles.

Technological Advancements and Innovation

The global bucket truck rental market is influenced by technological progress and innovation, and new technologies are constantly changing the field. Thus, the use of advanced hydraulic systems, as well as telematics and the related tracking and data management systems, contributes to more efficient, safe, and versatile bucket trucks. In terms of the technology of the lightweight lifting systems, as discussed by Gudehus, there are telematics applications that provide real-time location of the truck and enable remote diagnostics and data collection for the renting companies.The use of telematics is efficient also because the system is easily installed in the vehicle. At the same time, sensors and cameras can be integrated for improved safety and better visibility as the system is defined at the job console with the equipment pointing on the right side. On the other hand, there are collision avoidance systems and object detection capacities, and the latter is normally provided by radar. Taking into account the growing attention to environmental issues and sustainability, the technology of electric and hybrid bucket trucks is also advancing.As discussed by Buehrer, the technology is developing very quickly as the first hybrid bucket trucks were produced as recently as a couple of years ago. Today, renting companies and the respective end-users may choose among different electric and hybrid alternatives, and the big advantages of electric systems are lower costs and the reduced environmental impacts of operation. Thus, the market for bucket trucks is highly dependent on technological progress and innovation, and various systems are introduced for the safety of the vehicle operation, their efficiency, and advanced environmentally friendly solutions.

Growing Focus on Safety and Regulation

One of the drivers of the global bucket truck rental market is the increasing focus on safety and regulation. Safety regulations and standards in relation to bucket truck operations are being implemented all over the world and are becoming increasingly stringent. As such, rental companies are placing a strong emphasis on their operators’ safety training as well as on investing in equipment that meets all the latest requirements. Possibly, the most notable trend in this market is that most rental companies are using equipment that meets the safety standards set by the Occupational Safety and Health Administration and the American National Standards Institute.The newest models are often tested to ensure that they have collision- and rollover protection, use non-conductive materials, and have covered hydraulics. Furthermore, new equipment is properly maintained and inspected to ensure its full safety compliance. Thus, the government regulations and best safety practices that have been implemented in the industry note safety as a very important aspect of bucket truck operation.

Bucket Truck Rental Market Segment Insights

Bucket Truck Rental Market Application Insights

The Application segment can be divided into Construction and Utilities, Telecommunications and Cable, Tree Care and Arboriculture, Inspection and Maintenance, and Others. The Construction and Utilities segment accounted for the largest revenue share, around 40% in 2023. The increasing demand for aerial work platforms in construction processes and in maintaining the utilities is the primary driver for the growth of this segment. The telecommunications and cable segment is expected to register a significant growth rate during the forecast period, as the demand for aerial lift trucks for installation and maintenance cables is increasing.Tree Care and Arboriculture are additional key application segments; the demand for bucket trucks in maintaining the trees, namely, tree trimming, pruning, and tree removal, is expected to increase. Inspection and Maintenance is another application segment, with the demand for bucket trucks for inspection and the maintenance of bridges, buildings and other infrastructures continuously growing. The other applications in this segment include bucket trucks for painting walls and buildings and for cleaning, etc. These will contribute a moderate share of global market revenue.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Bucket Truck Rental Market Vehicle Type Insights

The Global Bucket Truck Rental Market is segmented by Vehicle Type into Standard Bucket Trucks, Aerial Lifts, Boom Lifts, Scissor Lifts, and Other. Among these segments, Aerial Lifts held the largest market share in 2023, owing to their versatility and ability to reach higher elevations. Boom Lifts are expected to witness the highest CAGR during the forecast period, driven by their increasing adoption in construction and maintenance applications. The demand for scissors lifts is also projected to grow significantly, particularly in indoor applications such as warehouses and retail stores.The Other segment includes specialized bucket trucks designed for specific industries, such as telecommunications and utilities.

Bucket Truck Rental Market End User Insights

The Global Bucket Truck Rental Market is segmented by end user into utility companies, construction contractors, tree care companies, industrial maintenance companies, and others. Among these segments, utility companies are expected to hold the largest market share in 2023, accounting for over 35% of the global market revenue. This is due to the increasing demand for bucket trucks for the maintenance and repair of power lines, transformers, and other electrical equipment. Construction contractors are expected to be the second-largest segment, with a market share of over 25% in 2023.The growing construction industry, particularly in developing countries, is driving the demand for bucket trucks for various construction activities such as building maintenance, painting, and glazing. Tree care companies are also expected to contribute significantly to the market growth, with a market share of over 15% in 2023. The increasing focus on tree maintenance and landscaping is fueling the demand for bucket trucks for tree trimming, pruning, and removal. Industrial maintenance companies and other end users are also expected to contribute to the market growth, with a combined market share of over 25% in 2023.

Bucket Truck Rental Market Rental Period Insights

The Global Bucket Truck Rental Market is segmented by rental period into short-term rentals (less than 30 days), medium-term rentals (30-90 days), and long-term rentals (over 90 days). In 2023, the short-term rental segment accounted for the largest share of the market, and it is expected to continue to dominate the market over the forecast period. The growth of the short-term rental segment can be attributed to the increasing demand for bucket trucks for short-term projects, such as construction and maintenance. The medium-term rental segment is expected to witness significant growth over the forecast period due to the increasing demand for bucket trucks for medium-term projects, such as infrastructure development and disaster relief.

The long-term rental segment is expected to grow at a slower pace due to the high cost of long-term rentals.

Bucket Truck Rental Market Bucket Truck Capacity Insights

The Bucket Truck Capacity segment is a crucial aspect of the Global Bucket Truck Rental Market, influencing market growth and industry dynamics. In 2023, the "Less than 50 feet" capacity segment held a significant market share due to its versatility and cost-effectiveness for various applications. However, the "50-100 feet" capacity segment is projected to witness the highest CAGR during the forecast period (2023-2032), driven by increasing demand for elevated work platforms in the construction, maintenance, and utility sectors. The "100-150 feet" and "Over 150 feet" capacity segments cater to specialized requirements in industries such as telecommunications, wind energy, and infrastructure development, contributing to the overall Global Bucket Truck Rental Market revenue.

Bucket Truck Rental Market Regional Insights

The Global Bucket Truck Rental Market is segmented by region into North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023 and is expected to continue its dominance during the forecast period. The growth of the North American market can be attributed to the increasing demand for bucket trucks from various industries, including construction, utility, and telecommunications. Europe is the second-largest market for bucket truck rentals, followed by APAC. The APAC market is expected to grow at the highest CAGR during the forecast period due to the rapid industrialization and urbanization in the region.South America and MEA are expected to witness moderate growth over the forecast period. Global Bucket Truck Rental Market Segmentation Regional: North America (USD 1.92 billion in 2023, projected to reach USD 2.73 billion by 2032, with a CAGR of 4.3%) Europe (USD 1.24 billion in 2023, projected to reach USD 1.75 billion by 2032, with a CAGR of 4.1%) APAC (USD 0.87 billion in 2023, projected to reach USD 1.41 billion by 2032, with a CAGR of 5.9%) South America (USD 0.32 billion in 2023, projected to reach USD 0.47 billion by 2032, with a CAGR of 5.0%) MEA (USD 0.22 billion in 2023, projected to reach USD 0.34 billion by 2032, with a CAGR of 5.5%) Key Insights: North America is the largest regional market, driven by high demand from construction and utility industries. APAC is expected to grow at the highest CAGR, driven by rapid industrialization and urbanization. Europe is the second-largest market, with a mature bucket truck rental industry. South America and MEA offer significant growth opportunities due to infrastructure development and increasing investment in construction projects.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Bucket Truck Rental Market Key Players And Competitive Insights

Important brands in the market The major players in the bucket truck rental market are continuously undertaking research and development activities for introducing high productivity-oriented and cost efficient products. The leading players are also deploying strategies such as acquisition, partnership, and mergers to gain an increased market share and to develop innovative product suites. The high demand for aerial work platforms and equipment in the construction sector, telecommunications and utilities sector is the major concern driving the development of the bucket truck rental market.United Rentals, Inc. United Rentals, Inc. is one of the major market players in the sector of bucket truck rental market, as it is one of the leading construction equipment rental deliverers across the globe. The firm is also continuously focusing on providing training and maintenance services of the equipment to its clients. United Rentals, Inc. is one of the leading bucket truck rental enterprises and delivers support services as well as equipment rentals. The company is majorly committed to customer satisfaction and offers its products via in-house stores, as well as through services and online sources, to meet the varied requirements of the bucket truck rental market.Herc Rentals Inc. Herc Rentals Inc. is another major player in the bucket truck rental market that engages in renting, servicing, and distribution of aerial work platforms with a sophisticated and diverse rental system across many locations throughout North America. The enterprise maintains a wide variety of bucket trucks based on the needs of the customers, and the firm also focuses on compliance and safety procedures and government inspections as well as industry standards and regulations.

Key Companies in the Bucket Truck Rental Market Include:

• Sunbelt Rentals


• Ahern Rentals


• Herc Rentals


• Haulotte Group


• Zoomlion


• Hertz Equipment Rental


• Sinoboom


• XCMG


• Terex Corporation


• United Rentals


• Manitou Group


• Genie Industries


• JLG Industries


• Skyjack


• Buckingham

Bucket Truck Rental Market Industry Developments

The global bucket truck rental market is expected to grow from $4.57 billion in 2023 to $6.9 billion by 2032, exhibiting a CAGR of 4.7% during the forecast period. Increasing demand for bucket trucks in the construction, utility, and telecommunication sectors drives market growth. Technological advancements, such as the integration of telematics and GPS systems, enhance operational efficiency and safety, further propelling market expansion. Key industry participants are focusing on strategic partnerships, mergers, and acquisitions to expand their market presence and enhance their product offerings. Recent developments include the acquisition of Versalift by Time International in 2023, strengthening Time International's position in the aerial lift equipment market. Moreover, the growing adoption of electric and hybrid bucket trucks aligns with the increasing emphasis on sustainability in various industries.

Bucket Truck Rental Market Segmentation Insights

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  Bucket Truck Rental Market Application Outlook

  
  
  
  
  • Construction and Utilities
  
  
  • Telecommunications and Cable
  
  
  • Tree Care and Arboriculture
  
  
  • Inspection and Maintenance
  
  
  • Other
  
  
  
  


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  Bucket Truck Rental Market Vehicle Type Outlook

  
  
  
  
  • Standard Bucket Trucks
  
  
  • Aerial Lifts
  
  
  • Boom Lifts
  
  
  • Scissor Lifts
  
  
  • Other
  
  
  
  


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  Bucket Truck Rental Market End User Outlook

  
  
  
  
  • Utility Companies
  
  
  • Construction Contractors
  
  
  • Tree Care Companies
  
  
  • Industrial Maintenance Companies
  
  
  • Other 
  
  
  
  


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  Bucket Truck Rental Market Rental Period Outlook

  
  
  
  
  • Short-Term Rentals (Less than 30 days)
  
  
  • Medium-Term Rentals (30-90 days)
  
  
  • Long-Term Rentals (Over 90 days)
  
  
  
  


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  Bucket Truck Rental Market Bucket Truck Capacity Outlook

  
  
  
  
  • Less than 50 feet
  
  
  • 50-100 feet
  
  
  • 100-150 feet
  
  
  • Over 150 feet
  
  
  
  


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  Bucket Truck Rental Market Regional Outlook

  
  
  
  
  • North America
  
  
  • Europe
  
  
  • South America
  
  
  • Asia Pacific
  
  
  • Middle East and Africa