As per the latest report by IMARC Group, titled “Telehandler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global telehandler market size reached US$ 6.2 Billion in 2021. A telehandler, or telescopic handler, is a versatile piece of equipment used to lift heavy loads. It is equipped with telescopic booms, which are fitted with various attachments to allow telehandlers to perform a wide variety of functions. It can also move diagonally to pick up and transport loads that unidimensional forklifts cannot move. With its extendable boom, a telehandler can easily access odd angles and tight spaces. Italso has the ability to suspend loads with a chain and shift heavy loads to areas that are hard to reach. As a result, telehandlers are used across dockyards, warehousing operations, and recycling operations to load and unload goods and move packed goods around storage areas.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Telehandler Market Trends:
The global telehandler market is primarily driven by the collaboration between construction equipment manufacturers and rental agencies due to the expansion of the construction industry. Besides this, various technological advancements, such as the introduction of electric and lithium-ion powered telehandlers, are significantly bolstering the market growth. These variants also facilitatea shift toward green logistics, reducing the environmentaldamage by minimizing pollution caused during the operations. Furthermore, the growing use of telehandlers in the agricultural and infrastructure industry for landscaping and other gardening activities in various urban planning projects is positively influencing the market growth across the globe. Looking forward, the market value is expected to reach US$ 8.6 Billion by 2027, exhibiting a CAGR of 5.8% during the forecast period (2022-2027).
- Based on the product, the market has been segmented into compact and large telehandlers.
- On the basis of the type, the market has been classified into rotating and non-rotating.
- The market has been categorized based on the ownership into rental and personal.
- On the basis of the height, the market has been bifurcated into less than 50 ft and 50 ft and above.
- Based on the capacity, the market has been segregated into below 3 tons, 3-10 tons, and above 10 tons.
- The market has been categorized based on the application into construction, agriculture, forestry, mines and quarries, and others. Currently, the construction sector represents the largest application area.
- Region-wise, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) holds the leading position in the market. Other major regions include North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being AB Volvo, Caterpillar Inc., Doosan Infracore Co. Ltd., Haulotte Group (Solem SA), J.C. Bamford Excavators Limited, JLG Industries Inc. (Oshkosh Corporation), Komatsu Limited, Liebherr Maschinen Bulle AG, Manitou Group, Merlo S.p.A. Industria Metalmeccanica, Skyjack Inc. (Linamar Corporation), Terex Corporation and Wacker Neuson SE.
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