Telehandler Market Size and Forecast to 2023
Telehandler Market Size and Growth Rate:
According to our Research Report, the Global Telehandler Market Size to Grow at CAGR of 5.23% by 2023 during the forecast period 2018-2023.
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Telehandler Market Overview:
Telescopic handlers, also known as telehandlers, are lifting machines widely used to lift loads in the agricultural, construction, environmental, logistics, mining and quarrying sectors. It is a hybrid system consisting of a forklift and a crane, which, in addition to lifting loads, can be used to manipulate, elevate personnel, open ditches and underground tunnels. Telescopic handlers have evolved from conventional landscaping and agricultural equipment to much more sophisticated construction equipment. They can be used to perform a wide range of complex projects with only a few pieces of equipment.
Telehandler Market Growth Drivers and restraints:
It is expected that the growing demand for technologically advanced systems in construction machinery, due to the high rate of productivity is a key factor to stimulate the market during the foreseen period. The telehandler market is expected to experience sustained demand due to its widespread application in the agricultural sector. The expansion of the rental equipment market has led to greater collaboration between the manufacturers of construction equipment and the owners of rental fleets in the construction sector. This, in turn, should stimulate the market over the forecast period. It is estimated that the building equipment manufacturing sector is experiencing an increase in the number of spectators due to its ability to assist in a wide range of complex tasks, as well as its high load capacity and its ability to move at 360°. However, the increase in input costs leads to an increase in operating costs, which should hinder the market in the coming years.
Geographical segmentation of the Telehandler Market:
Geographically, the market can be segmented into Asia Pacific, Europe, North America, Latin America, and the rest of the world. The Asia-Pacific region represented a large part of the world market due to the expansion of the industrial sector in this region, which resulted in an increase in the number of active telescopic trucks. It is expected that countries in the Asia-Pacific region, particularly China, Japan and India, will see an increased demand for these telescopic handlers as a result of further infrastructure development. The Asia-Pacific region is followed by Europe, in terms of the market share.
Key Players of the Telehandler Market:
The main players in the world market for telehandlers are Caterpillar, Liebherr, JLG, JC Bamford Excavators Limited, Manitou Group, Haulotte Group, Merlo SpA, Terex Corporation, Deere & Company, Bobcat Corporation, Sennebogen, Wennefogen and Wacker, Neuson SE, Volvo AB, Komatsu Ltd., Pettibone Traverse Lift, LLC, XCMG Group and Skyjack.
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Telehandler Market Key Segmentation:
By Type:
• Compact Telehandler
• Large Telehandlers
• High Reach Telehandler
• Heavy Lift Telehandler
• Rotating Telehandlers
• Non-Rotating Telehandlers
By End user:
• Construction
• Agriculture
• Industry
• Mines and Quarries
By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa
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