The Telescopic mast market sales are anticipated to reach US$ 394.8 million by 2023. Over the following 10 years, the industry is expected to expand at a CAGR of 4.8%. By the end of 2033, the market is projected to be worth US$ 630.9 million. The military and security sector’s rising need for both internal and external use is expected to boost market sales.
the telescopic masts market is projected to appreciate at over US$ 630.9 Million in 2033, growing at a 4.8% CAGR over the projection period. According to Future Market Insights (FMI), the rising usage of telescopic masts in the military sector is driving the market. Military vehicles are provided with small portable telescopic or pneumatic masts for practical surveillance, which is anticipated to augment the boost in the market.
The increasing development of innovative technologies by manufacturers is expanding sales of pneumatic telescopic masts, thereby fueling sales in international telescopic masts.
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.
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The growing requirement for telescopic masts from commercial, military, security, municipal and other sectors 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.
Key Takeaways From the Market Study:
- 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 German 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.
Competition Landscape
The global telescopic masts market is moderately consolidated with key players accounting for more than 40% of the market share. Key players are investing in product developments and the expansion of their distribution channels to improve their presence in the market.
Some of the key players in this industry include the RATT, Wilburt, Mast System (Transdigim Inc.), Rohn Products Inc, Comrod Communication Group Marine, SERAPID Inc., and others
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The research report analyzes the 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 based on product types (push-up masts, hitched masts, integrated mast trailers, 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.
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Global Telescopic Masts Market by Category
By Product Type:
- Push-up Masts
- Hitched Masts
- Integrated Mast Trailer
- Push Button Masts
- Cable/Belt Driven
By Load:
- Light Duty (Up to 45kg)
- Medium Duty (45 to 120kg)
- Heavy Duty (Above 120kg)
By Height:
- Up to 15m
- >15 to 34m
- >34 to 50m
By End Use:
- Commercial
- Military
- Security
- Municipal
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia Pacific
- East Asia
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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