Telehandler Market Size to Surpass $9.38 Billion by 2028 | Exhibiting a CAGR of 6.1%
The Telehandler Market is surging with increased construction activities, demand for material handling solutions, and versatility in applications. Technological advancements and growing infrastructure projects contribute to market growth.
Pune, India, Nov. 21, 2023 (GLOBE NEWSWIRE) — The global telehandler market size was valued at USD 5.87 billion in 2020 and the market is anticipated to grow from USD 6.19 billion in 2021 to USD 9.38 billion by 2028, exhibiting a CAGR of 6.1% over the estimated period. The global telehandler market is set to gain traction from the surging investments by reputed organizations to enhance the high-reach facility and heavy load-bearing capacity of this machinery. Fortune Business Insights™ provides this information in its research report, titled “Telehandler Market, Forecast 2021-2028”.
July 2019: Doosan Bobcat announced the opening of a new Global Collaboration Center in Minneapolis that manages its global functions and provides a central meeting location for teams to work in collaboration.
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Report Scope & Segmentation:
|Forecast Period||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR||6.1%|
|2028 Value Projection||9.38 billion|
|Telehandler Market Size in 2020||5.87 billion|
|Historical Data for||2017-2019|
|No. of Pages||160|
|Segments covered||Type, Technology, Lift Height, Lift Capacity, End- User, Region|
Drivers and Restraints:
Increasing Implementation of Stringent Environment Policies to Boost Growth
Nowadays, electric engines are being rapidly upgraded because of the strict environmental norms implemented by government bodies worldwide. India’s National Clean Air Program (NCAP), for instance, is one such policy that was launched in 2019. It provides in-depth information about the reduction, control, and prevention of air pollution in the country. Besides, electric engines are capable of lowering carbon dioxide at construction sites. These factors are anticipated to bolster the telehandler market growth in the near future. However, the expensive nature of Telehandler is compelling many customers to opt for rental services. It may hinder the demand for telehandlers.
Halt of Construction Work Affected Growth in Developing Nations
The manufacturing and industrial sectors across the globe were severely affected by the COVID-19 pandemic in 2020. Numerous companies, mainly in emerging economies are currently facing challenges, such as halt of construction projects and supply chain disruptions because of stringent lockdown measures. We are providing accurate research reports to help you find a solution to regain your business confidence and generate more sales of Telehandler.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/telehandler-market-100995
- It assimilates key market drivers and restraints.
- It profiles the rankings of key market players accordingly.
- It includes key market developments and information on different market segments.
- It provides a comprehensive market assessment.
- It assesses the COVID-19 pandemic’s impact on the market.
Telehandler Market Segmentation Analysis:
By type, the market is segmented into high load, high lift, and compact. By technology, it is trifurcated into combustion, electric, and hybrid. Out of these, the hybrid segment earned 27.6% in terms of the telehandler market share in 2020. The electric segment would exhibit the highest CAGR because of the increasing concerns of various environment issues happening worldwide. Hence, people are inclining towards electric vehicles. Based on the lift height, the market is categorized into 5 meters, 5 to 15 meters, and more than 15 meters. In terms of the lift capacity, it is divided into less than 3 tons, 3-10 tons, and more than 10 tons. Lastly, by end-users, it is fragmented into construction, forestry, agriculture, oil & gas, manufacturing, transport & logistics, and power utilities.
Asia Pacific to Remain at the Forefront Backed by Rising Investments in Construction Projects
- Asia Pacific: The region generated USD 2.07 billion in terms of revenue in 2020. The region is expected to remain at the forefront because of the increasing investments in construction projects. For instance, Larsen & Turbo declared that in 2017, it initiated new construction projects worth USD 19.12 million. China is considered to be in the second position in terms of the global construction industry.
- North America: It would exhibit high CAGR on account of the new entrees of investors in various sectors, such as transport and logistics, agriculture, and power and utilities.
- Europe: The region is anticipated to showcase high demand for smaller telehandlers, such as compact wheeled handlers and skid steer handlers in the agricultural sector.
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Key Players Focus on Developing New Products to Intensify Competition
The global market for telehandlers houses several companies that are presently aiming to construct new facilities and launching novel products to cater to the high demand globally. Some of the others are also trying to gain a competitive edge by partnering up with local firms.
A List of Key Manufacturers Operating in the Global Market:
operating in the global market:
- J.C Bamford Excavator Ltd. (Rochester, United Kingdom)
- Caterpillar (Illinois, United States)
- Doosan Bobcat (Seoul, South Korea)
- CNH Industrial America LLC (Wisconsin, United States)
- Manitou BF (Ancenis, France)
- Terex Corporation (Connecticut, United States)
- Wacker Neuson SE (Munich, Germany)
- Liebherr-International Deutschland GmbH (Bulle, Switzerland)
- Skyjack (Guelph, Canada)
- HAULOTTE GROUP (L’Horme, France)
- JLG Industries (Pennsylvania, United States)
- Komatsu Ltd. (Tokyo, Japan)
- AB Volvo (Gothenburg, Sweden)
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Table of Content:
1.1. Definition, By Segment
1.2. Research Approach
2. Executive Summary
3. Market Dynamics
3.1. Drivers, Restraints and Opportunities
3.2. Emerging Trends of Market
4. Key Insights
4.1. Macro and Micro Economic Factors
4.2. Consolidated SWOT Analysis of Key Players
4.3. Porter’s Five Forces Analysis
4.4. Impact Analysis of COVID 19
5. Global Telehandler Market Analysis, Insights and Forecast, 2017-2028
5.1. Key Findings / Summary
5.2. Market Sizing Estimations and Forecasts – By Type (Value)
5.2.2. High lift
5.2.3. High load
5.3. Market Sizing Estimations and Forecasts – By Technology (Value)
5.4. Market Sizing Estimations and Forecasts – By Lift Height (Value)
5.4.1. Less than 5 meters
5.4.2. 5-15 meters
5.4.3. More than 15 meters
5.5. Market Sizing Estimations and Forecasts – By Lift Capacity (Value)
5.5.1. Less than 3 tons
5.5.2. 3-10 tons
5.5.3. More than 10 tons
5.6. Market Sizing Estimations and Forecasts – By End-User (Value)
5.6.4. Oil & Gas
5.6.6. Transport & logistics
5.6.7. Power utilities
5.7. Market Analysis, Insights and Forecast – By Region (Value)
5.7.1. North America
5.7.3. Asia Pacific
5.7.4. Middle East and Africa
5.7.5. Latin America
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