Global sales in the telescopic masts market are projected to be valued at over US$ 374.0 Mn in 2022, expanding at a 4.3% CAGR over the forecast period. 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.
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Increasing development of innovative technologies by the manufacturers is boosting sales of pneumatic telescopic masts, thereby fueling sales in the global telescopic masts. Pneumatic telescopic masts are used with the help of air pressure and erect faster than the 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.
Key Takeaways:
- 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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Competition Landscape
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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