Telehandler Market

Telehandler Market Size:

The global telehandler market size reached US$ 6.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5% during 2024-2032. The telehandler market demand is experiencing steady growth driven by the increasing construction activities in the residential, commercial, and industrial sectors, the rising adoption of modern farming practices, and rapid technological advancements.

Telehandler Market Analysis:

• Major Market Drivers: The increasing adoption of modern farming practices and the rising investments by governing agencies of numerous countries in infrastructural developments are driving the telehandler market outlook.
• Key Market Trends: Key trends include the growing construction industry and the rising focus on safety in material handling operations. This is positively impacting the telehandler market revenue.
• Geographical Trends: Asia Pacific leads the telehandler market value due to increasing demand for the product across various industries. By 2026, the market for construction equipment and heavy equipment is expected to reach 65 billion U.S. dollars. This will positively impact the demand for telehandlers. The telehandler market forecast for North America is also expected to witness growth.
• Competitive Landscape: AB Volvo, Caterpillar Inc., Doosan Infracore Co. Ltd., etc. are some of the market players driving the telehandler market growth.
• Challenges and Opportunities: Challenges include stringent safety regulations and standards. The telehandler market overview shows that opportunities lie in the expansion of the product into new applications and industries.
   

Telehandler Market Trends:

Growing construction industry

The telehandler market statistics shows contributions from the construction industry. Telehandlers are important in construction for lifting and handling materials. As the industry of construction continues to expand, particularly in emerging markets, so does the demand for telehandlers similarly increase. This increased demand is as a result of how flexible the telehandlers are because they can handle different materials and work on different terrains including rough terrain models ideal for outdoor building sites. On top of that, adoption of telehandlers is driven by the trend towards mechanized and automated construction practices aimed at streamlining operations and improving efficiency. Additionally, increasing government investments in infrastructure projects like roads, bridges and commercial buildings drive global demand for telehandlers. These investments aim to stimulate economic growth, enhance transportation networks, and address urbanization challenges, all of which require robust material handling equipment like telehandlers.

Industrialization and infrastructure development

Efficient material handling solutions are necessary due to rapid industrialization and infrastructure development projects happening worldwide. Telehandlers are indispensable in several industrial applications like manufacturing, logistics, warehousing among others. Besides their importance to construction field, telehandlers have become imperative in other industrial applications because of their versatility along with mobility capabilities. In manufacturing facilities, telehandlers facilitate the movement of materials and components across production lines, optimizing workflow and reducing manual handling efforts. Furthermore, telehandlers are used in agricultural settings. The agricultural sector's modernization and mechanization drive the demand for telehandlers equipped with specialized attachments tailored to farm-specific needs. All these factors are driving the telehandler market price.

Growing adoption of modern farming practices

The telehandler market share has grown at a significantly faster rate as a result of modern framing practices. Telehandlers are essential to increasing production in agriculture since they streamline, automate, and save time through the integration of technology. These devices are more useful and adaptable because they are typically used for a variety of tasks like handling heavy items, loading and unloading, and transporting goods. Furthermore, because of consumer demands, the telehandlers' digitization and technological integration have further enhanced farming by reducing labor costs and labor inputs and raising productivity rates. In summary, the fusion of technology and agriculture has driven the expansion of telehandlers throughout the agricultural field.

Telehandler Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the telehandler market segmentation based on product, type, ownership, height, capacity and application.

Breakup by Product:

• Compact Telehandler
• Large Telehandler
   

Compact telehandler accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product. This includes compact and large telehandler. According to the report, compact telehandler represented the largest segment.

Compact telehandler holds the majority of the total market share as it is easy to use in industrial and agricultural applications. These telehandlers are helping the telehandler market grow because they're small and easy to move around in tight spaces. They are excellent for construction jobs in cities or indoor projects where there's not much room to work. Even though they are smaller, these handlers can still lift heavy materials and reach high places like bigger telehandlers. People in different industries like using them because they are handy in places where big machines can't be useful. As more people need machines that can work well in small spaces, compact telehandlers become more popular, making the telehandler market grow.

Breakup by Type:

• Rotating
• Non-rotating
   

A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes rotating and non-rotating.

Breakup by Ownership:

• Rental
• Personal
   

The report has provided a detailed breakup and analysis of the market based on the ownership. This includes rental and personal.

Breakup by Height:

• Less Than 50 ft
• 50 ft & Above
   

The report has provided a detailed breakup and analysis of the market based on the height. This includes less than 50 ft and 50 ft & above.

Breakup by Capacity:

• Below 3 Tons
• 3-10 Tons
• Above 10 Tons
   

The report has provided a detailed breakup and analysis of the market based on the capacity. This includes below 3 tons, 3-10 tons, and above 10 tons.

Breakup by Application:

• Construction
• Agriculture
• Forestry
• Mines and Quarries
• Others
   

Construction represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes construction, agriculture, forestry, mines and quarries, and others. According to the report, construction represented the largest segment.

Construction is the largest application segment of telehandler market as people invest more in building houses, offices, and other buildings all around the world. Telehandlers are very helpful in these projects as they can move heavy stuff like bricks, steel, and lumber to different parts of the construction site. With all this construction happening, the demand for telehandlers keeps going up. That's why the construction industry is the main area where telehandlers are used. This reliance on telehandlers in construction projects drives the telehandler market forward as builders seek efficient ways to handle materials and complete their projects on time. With the construction industry booming and more buildings going up, the demand for telehandlers continues to rise, fueling market growth.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest telehandler market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

The Asia Pacific holds the largest telehandler market share. It is due to increasing construction activities in the region. As more people move to cities, there's a high need for new buildings. Telehandlers help a lot in building these things as they can lift heavy stuff and move it around easily. With rising construction activities in Asia Pacific, the demand for telehandlers keeps going up. The rapid growth of cities and the construction industry growth means that companies in Asia Pacific need telehandlers to get the job done. So, telehandler companies are making more machines to meet the demand. As cities keep growing and more buildings get built, the need for telehandlers in Asia Pacific will keep growing too. This makes the telehandler market grow in this region.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• 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
• Wacker Neuson SE
   

Through cooperation, innovation, and portfolio expansion, the key players are significantly contributing to the telehandler market's growth. Major companies have significantly accelerated growth by implementing cutting-edge technologies like telematics, better safety systems, and larger lifting capacity. Additionally, in order to maintain sustainability and efficiency while abiding by environmental standards, the corporations are concentrating on introducing environmentally friendly products. In addition, the incorporation of digitization has significantly enhanced quality by meeting client demands and providing premium features and upkeep. Furthermore, the corporations are working together with other organizations, which has contributed to the telehandlers' rapid expansion.

Telehandler Market News:

• March 22, 2024: Volvo Group and Renault Group completed creation of a joint venture for an all-new generation of electric vans.
• January 19, 2024: Caterpillar Inc. announced the success of its collaboration with Microsoft and Ballard Power Systems to demonstrate the viability of using large-format hydrogen fuel cells to supply reliable and sustainable backup power for data centers.
• February 26, 2024: Doosan Enerbility expanded reach of its 3D printing business into the shipbuilding sector.

Telehandler Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the telehandler market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global telehandler market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the telehandler industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.