Bucket Truck Market Size, Growth

Bucket Truck Market Overview

The Bucket Truck Market size was valued at USD 15298.8 million in 2024 and is expected to reach USD 22321.21 million by 2033, growing at a CAGR of 4.5% from 2025 to 2033.

The bucket truck market is a critical segment of the global specialized commercial vehicle industry, widely used in utility, construction, telecommunications, and oil & gas sectors. In 2023, more than 92,000 new bucket trucks were deployed globally, with over 37,000 units utilized in electrical grid maintenance and telecommunications alone. The United States accounted for the highest volume, with over 29,000 trucks registered during the year. Bucket trucks with lifting capacities below 25 tons dominated the market, representing over 48% of total sales.

North America led global demand, while the Asia-Pacific region recorded the fastest growth, with more than 26,000 new units deployed. The integration of electric and hybrid powertrains is also accelerating, with over 6,800 bucket trucks featuring eco-friendly drivetrains sold globally in 2023. With urbanization expanding across emerging economies and safety regulations becoming more stringent, demand for insulated, articulated, and telescopic bucket trucks continues to rise, positioning the industry as an essential enabler of modern infrastructure development and utility services.

Key Findings

DRIVER: Rising infrastructure upgrades in power distribution and telecom networks globally.

COUNTRY/REGION: The United States leads with more than 29,000 bucket truck units deployed in 2023.

SEGMENT: Bucket trucks with capacity below 25 tons comprise the largest volume segment, exceeding 44,000 units globally.

Bucket Truck Market Trends

The global bucket truck market is experiencing dynamic changes driven by technology, sustainability goals, and infrastructure expansion. In 2023, electric-powered bucket trucks saw a 27% increase in demand year-over-year, with over 6,800 units deployed worldwide. Fleet operators in North America and Europe adopted low-emission bucket trucks to meet stringent environmental standards, particularly in urban areas like Los Angeles, Toronto, and Berlin. Over 1,500 electric bucket trucks were integrated into public utility fleets across California alone.

Customization is a key trend, with over 30% of new units ordered with customer-specific modifications, including tool compartments, extended reach booms, and safety insulation systems. Hybrid models combining diesel and electric powertrains were also deployed across 1,700 units globally, primarily in the UK, Canada, and Japan, reflecting a shift toward fuel efficiency and reduced operational noise.

Technological advancements are transforming operations. Over 18,000 units deployed in 2023 featured advanced telematics systems, allowing real-time diagnostics, predictive maintenance alerts, and GPS tracking. Safety remains a top priority, with 14,600 units integrated with automatic stabilization, boom angle indicators, and fall protection systems.

The Asia-Pacific region witnessed a surge in infrastructure investment. In India, over 5,400 bucket trucks were purchased for use in smart grid deployment, rural electrification, and 5G tower installations. Meanwhile, South Korea introduced over 1,200 compact bucket trucks into urban maintenance fleets.

In Latin America, over 3,800 units were added to municipal fleets in Brazil and Mexico for street lighting, sanitation infrastructure, and utility maintenance. Across all regions, the demand for lightweight, maneuverable models grew by 18%, with sales concentrated in the 25-ton and below category.

Bucket Truck Market Dynamics

The bucket truck market dynamics encompass the key factors that influence the growth, stability, and direction of the industry across global regions. These dynamics include four core components: drivers, restraints, opportunities, and challenges. Drivers are the accelerating forces such as increased investment in utility infrastructure, rapid urbanization, and the widespread deployment of telecommunications networks that fuel market expansion.

DRIVER

Increased utility sector investment in grid modernization.

The power and telecommunications sectors are undergoing significant upgrades globally. In 2023, over 56,000 bucket trucks were deployed for tasks such as powerline repair, pole replacement, transformer maintenance, and fiber-optic cable installation. The U.S. alone allocated more than 11,000 new bucket trucks to grid modernization projects, while China added over 8,600 units in telecom network expansion. Demand for insulated and aerial-lift trucks increased by 19% across countries with frequent outages and aging infrastructure. Government mandates to expand rural electrification and support 5G rollout contributed directly to the volume rise in specialized lifting vehicles.

RESTRAINT

High acquisition and operational costs.

The cost of purchasing a new bucket truck ranges between $90,000 and $250,000, depending on type, capacity, and customizations. This high capital expenditure limits adoption, especially among small and mid-sized contractors. In 2023, over 42% of fleet operators in Latin America and Southeast Asia opted for refurbished or leased units due to budget constraints. Operating costs—including fuel, insurance, and maintenance—have increased by 12% compared to the previous year, particularly for diesel-powered models. Compliance with evolving emissions standards, especially in Europe, also raises fleet upgrade costs, thereby restraining the adoption of new high-performance units.

OPPORTUNITY

Electrification and hybridization of utility vehicles.

With the global push toward decarbonization, there is a growing opportunity for electric and hybrid bucket trucks. Over 1,100 electric units were sold in Europe in 2023, representing a 34% year-over-year increase. Municipalities in Norway, Sweden, and the Netherlands provided subsidies for adopting zero-emission aerial lift vehicles. OEMs are investing heavily in battery-powered trucks with lifting capacities between 15 and 30 tons, which are ideal for urban deployment. In North America, over 40 utility providers collectively ordered more than 2,500 electric units, signaling a long-term shift in procurement strategy. Charging infrastructure partnerships and battery-swapping innovations also present additional growth avenues.

CHALLENGE

Supply chain disruptions and component shortages.

Global production of bucket trucks has been impacted by supply chain delays and raw material shortages. In 2023, more than 9,800 units experienced delivery delays exceeding 8 weeks, primarily due to shortages in hydraulic components, steel chassis, and microchips used in control systems. North American manufacturers reported a 17% increase in backlogged orders, while European OEMs faced interruptions in boom cylinder deliveries. Additionally, rising prices of aluminum (up 15%) and high-strength steel (up 12%) have strained margins. Smaller manufacturers struggled to meet delivery timelines, affecting customer confidence and limiting fleet expansion plans.

Bucket Truck Market Segmentation

The bucket truck market is segmented based on lifting capacity and application, each fulfilling specific operational needs across different industries.

By Type

Capacity Below 25 Ton: Trucks in this category made up more than 44,000 units in 2023, representing 48% of global volume. These are preferred for urban maintenance, street lighting, and telecommunications work due to their maneuverability and cost-effectiveness. The U.S., Germany, and Japan were key consumers of these lightweight trucks.
Capacity Between 25 Ton to 50 Ton: Mid-range bucket trucks accounted for over 31,000 units in 2023. Used extensively in infrastructure projects and utility maintenance, these trucks are ideal for reaching heights of 60–90 feet. China and India accounted for over 12,000 unit sales in this category.
Capacity Above 50 Ton: Heavy-duty models used in oil & gas, mining, and industrial applications saw deployment of over 17,000 units in 2023. These trucks offer extended height and platform stability, with applications in high-voltage transmission and wind turbine maintenance.

By Application

Utility: Utility applications dominated with over 52,000 trucks deployed globally. These trucks are essential for powerline maintenance, electrical substations, and emergency restoration. North America and Asia-Pacific each accounted for over 20,000 units in this segment.
Construction: Construction sector demand reached 21,000 units in 2023. Used for steelwork, glass installation, and façade access, these trucks support mid-rise and high-rise projects. The UAE and China recorded notable volumes.
Oil & Gas: The oil & gas sector used over 12,000 trucks, mainly in pipeline maintenance, refinery inspection, and offshore platform access. Saudi Arabia, the U.S., and Russia were the top users.
Others: Other applications such as signage, arboriculture, and disaster response contributed over 7,000 units. Municipal authorities in Brazil, Australia, and Canada purchased these trucks for routine public works.

Regional Outlook for the Bucket Truck Market

Regional demand for bucket trucks is influenced by industrial development, infrastructure investment, and regulatory frameworks.

North America

North America remained the largest market, with more than 38,000 units sold in 2023. The U.S. accounted for 29,000 units, led by investments in electrical grid upgrades and telecommunications tower deployment. Canada saw 6,400 new units integrated into municipal and forestry fleets. The presence of major OEMs and government stimulus funding further accelerated adoption.

Europe

Europe deployed over 21,000 bucket trucks. Germany, France, and the UK were the top three countries, jointly accounting for over 15,000 units. The region emphasized electric and hybrid models, with over 1,700 units sold under zero-emission fleet mandates. Urban deployment in cities like Stockholm and Amsterdam grew by 13%.

Asia-Pacific

Asia-Pacific saw rapid expansion with 26,000 units deployed in 2023. China led with over 11,000 units, driven by 5G infrastructure rollout and public lighting projects. India added 5,400 units, largely under smart city initiatives. Japan and South Korea prioritized compact aerial trucks for urban maintenance.

Middle East & Africa

MEA recorded sales of 7,100 units. Saudi Arabia led with 2,300 units, primarily for oil & gas and utilities. The UAE added 1,600 units for urban development, while South Africa deployed 1,200 trucks in mining and construction. Adoption of insulated models grew by 11% in this region.

List of Top Bucket Truck Companies

Terex Corporation
Altec Inc.
Versalift
Aichi Corporation
Bronto Skylift
Tadano
CTE
Dur-A-Lift
Time Manufacturing Company
Manitex International
Socage
Ruthmann
Axion Lift
Palfinger AG

Altec Inc.: Delivered over 14,800 units globally in 2023, with strong penetration in North American utility fleets. Offers both insulated and electric variants.

Terex Corporation: Shipped more than 12,600 bucket trucks, serving customers in 70+ countries with articulated, telescopic, and hybrid models across multiple industries.

Investment Analysis and Opportunities

The bucket truck market attracted more than $2.1 billion in new investments globally in 2023, directed toward production capacity, fleet electrification, and digital technology integration. Over 37 OEMs expanded their manufacturing or assembly operations across 12 countries. Altec Inc. invested $85 million to build a new electric bucket truck assembly plant in Texas, increasing annual capacity by 5,000 units. Similarly, Terex announced a $72 million investment in its EU manufacturing hub for hybrid and electric aerial vehicles.

Private equity firms poured over $640 million into specialized commercial vehicle startups, particularly those focused on zero-emission fleets and telematics software. In Europe, public-private partnerships funded the deployment of 2,400 electric bucket trucks in urban utility networks. The German government granted €115 million for electric fleet conversion, benefiting 23 municipal agencies.

In the Asia-Pacific region, Japanese and South Korean manufacturers invested in developing compact, energy-efficient trucks tailored for dense urban centers. India’s state governments offered subsidies to domestic OEMs manufacturing under the “Make in India” campaign, adding 4,200 units to public works departments in 2023.

The rise of autonomous vehicle technology has opened new investment channels. Over 14 R&D initiatives were launched globally focusing on self-stabilizing platforms, remote-controlled lifts, and collision detection systems. Combined with demand for real-time fleet analytics, the market presents strong capital opportunities in AI, IoT, and electrification.

New Product Development

Innovation in the bucket truck market accelerated in 2023 with over 120 new product variants launched. Altec unveiled its AT40E series, a fully electric bucket truck featuring a 40-foot working height, 400-lb platform capacity, and a lithium-ion battery system providing 8 hours of continuous operation. The series was adopted by over 50 U.S. municipalities within the first six months.

Terex introduced its TL80 Hybrid range, integrating dual hydraulic-electric lifts for enhanced energy efficiency and reduced idle time. Over 2,300 units were sold across North America and Europe within nine months of launch. Aichi Corporation released a new insulated telescopic lift for high-voltage utility work in Japan, rated for up to 46kV.

Palfinger AG launched an autonomous stabilization system compatible with trucks in the 25-50 ton range, improving setup times by 38%. Versalift developed a narrow-body bucket truck optimized for urban alleys and tight spaces, widely adopted in France and Belgium. Ruthmann presented an all-terrain aerial platform with multi-mode drive systems, targeting oil & gas operations in the UAE and Kazakhstan.

New product lines focused heavily on eco-efficiency. Over 60% of innovations featured electric or hybrid propulsion. More than 40 new models were equipped with IoT sensors for performance diagnostics, and 35 models included digital operator assistance systems to enhance safety and training.

Five Recent Developments

Altec Inc. launched the AT40E all-electric bucket truck, deploying over 3,000 units within six months across North America.
Terex Corporation announced a $72 million investment to expand its hybrid bucket truck production facility in Italy in March 2024.
Versalift introduced a remote monitoring system across 5,000 trucks, enabling predictive maintenance and performance analytics.
Palfinger AG unveiled an autonomous stability control system for bucket trucks over 25 tons, tested across 18 countries.
Aichi Corporation delivered 1,200 insulated telescopic models to Japan's major utility companies for smart grid upgrades.

Report Coverage of Bucket Truck Market

This report delivers comprehensive coverage of the global bucket truck market, including insights across 30+ countries and 14 major manufacturers. It tracks the movement and deployment of over 92,000 new units across segments by type, application, region, and ownership model. The report includes granular data on 120+ product lines, over 3,000 fleet purchases, and 85 municipal contracts during 2023.

Segment-level analysis includes breakdowns of capacity classes, market share by application, and performance benchmarks. The report assesses technological features across telescopic, articulated, and insulated variants, and includes an evaluation of over 70 electric and hybrid models. It highlights adoption trends in public utilities, construction contractors, telecom operators, and emergency services.

Additionally, the report analyzes global trade flows, supply chain structures, component sourcing, and regulatory compliance across North America, Europe, Asia-Pacific, and MEA. It includes more than 2,500 data points on procurement trends, price fluctuations, and lifecycle performance. Innovations in electrification, automation, and digitalization are covered in detail, along with over 400 product features across manufacturers.

This report is a vital resource for stakeholders across OEMs, fleet operators, infrastructure developers, government procurement agencies, and investors looking to assess strategic positioning and emerging opportunities within the bucket truck industry.