China Telescopic Masts Market Is Expected To Increase At A 4.4% CAGR Over Assessment Period In Terms Of Value By 2032
Global sales in the telescopic masts market are projected to be valued at over US$ 374.0.8 Mn in 2022, expanding at a 4.9% CAGR over the forecast period. North America is anticipated to hold a dominant share in the market due to increasing investments in the military sector, followed by Europe. North America and Europe are projected to hold a collective market share of 45% by 2032.
Demand in the China telescopic masts market is forecast to grow at a 4.4% CAGR over the assessment period. Increasing product developments by local manufacturers which can withstand heavy load and large sail area are expected to drive the market.
According to Future Market Insights (FMI), increasing usage of telescopic masts in the military sector is driving the market. Military vehicles are equipped with small portable telescopic or pneumatic masts for effective surveillance, which is expected to augment the growth in the market. Increasing development of innovative technologies by the manufacturers is boosting sales of pneumatic telescopic masts, thereby fueling sales in the global telescopic masts.
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Pneumatic telescopic masts are used with the help of air pressure and erect faster than conventional or mechanical telescopic masts, which makes them more popular among end users.
The growing requirement for telescopic masts from commercial, military, security, municipal and others sector is anticipated to bolster demand in the telescopic masts market over the forecast period.
“Increasing investments in the military sector across the globe, along with increasing adoption of pneumatic and motorized telescopic masts will continue driving sales in the market over the forecast period,” says the FMI analyst.
- By end-use, the military sector is forecast to hold over 39% of the total market share in terms of volume in 2022.
- Based on product type, sales in the push-up telescopic masts segment are expected to hold over 28% of the total market share.
- By load, demand in the medium duty segment is set to surge at a 4.3% CAGR over the forecast period.
- In terms of height, demand in the >15 to 34m segment is expected to reach US$ 267.3 Mn by 2032.
- Sales in the U.S. telescopic masts market are projected to grow year-over-year by 3.9% in 2022.
- The Germany telescopic masts market is forecast to grow at a 3.3% CAGR through 2032.
- China will emerge as a lucrative market, with sales growing at a 4.4% CAGR over the forecast period.
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The global telescopic masts market is moderately consolidated with key players accounting for around more than 40% of the market share. Key players are investing in product developments and the expansion of their distibution channels to improve their presence in the market.
Some of the key players in this industry include the RATT, Willburt, Mast System (Transdigim Inc.), Rohn Products Inc, Comrod Communication Group Marine, SERAPID Inc., and others
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The research report analyzes demand for telescopic masts. The global telescopic masts market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has been analyzed on the basis of product types (push-up masts, hitched masts, integrated mast trailer, push button masts and cable/belt driven masts), load (light duty, medium duty, and heavy duty), height (up to 15m, 15-34m, and 34 to 50m), end use (commercial, military, security, and municipal) and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand factors.