Pune, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Telehandler Market Size & Growth Analysis:
“According to SNS Insider Research, The Telehandler Market size was valued at USD 5.66 billion in 2023 and is now anticipated to grow to USD 8.56 billion by 2032, displaying a compound annual growth rate (CAGR) of 4.87% during the forecast period 2024-2032.”
The Expanding Telehandler Market Amidst Global Infrastructure Development
The telehandler market is experiencing significant expansion, driven mainly by increasing construction projects and infrastructure advancements worldwide. These machines play a crucial role in speeding up material handling and transportation, boosting productivity in construction and logistics industries. The rise in automation is driving up the demand for telehandlers due to their ability to provide flexible and efficient operations. Telehandlers, or telescopic handlers, merge characteristics of both a forklift and a crane to offer outstanding lifting capacity and versatility for different uses. Their versatility in construction, agriculture, logistics, and mining makes them essential. As industries progress, incorporating advanced technologies like telematics, automation, and improved safety features is growing in significance. These advancements enhance efficiency in operations and also assist in tackling labor shortages and safety issues.
Telehandlers play a crucial role in efficient material handling in sectors such as construction and logistics, with the ability to lift weights ranging from 2,500 to 12,000 pounds. With more than 60% of construction companies adopting automation to improve productivity and address the lack of workers, there is an increasing need for these adaptable machines. By merging attributes of both forklifts and cranes, telehandlers provide outstanding lifting abilities and safety features, which have the potential to decrease workplace accidents by 30%. As urbanization is expected to rise, the demand for dependable material-handling machinery will also increase.
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Key Players Listed in this Report are:
- AB Volvo
- Caterpillar Inc.
- CNH Industrial N.V.
- HAULOTTE GROUP
- J C Bamford Excavators Ltd.
- Komatsu Ltd.
- L&T Technology Services Limited
- Oshkosh Corporation
- Terex Corporation
- Wacker Neuson SE
- Manitou Group
- Bobcat Company
- Doosan Infracore
- Merlo S.p.A.
- Liebherr Group
- Skyjack Inc.
- XCMG Group
- Pettibone LLC
- Dieci S.r.l.
- Faresin Industries S.p.A. & Other Players
Telehandler Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 5.66 Billion |
| Market Size by 2032 | USD 8.56 Billion |
| CAGR | CAGR of 4.87% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
Segmentation: Telehandler Dominance by Type and Lift Capacity in 2023
By Type: In 2023, the Internal Combustion Engine (ICE) category held the majority market share at about 58.7% in the telehandler market. The strong power and torque of internal combustion engines allow them to manage heavy materials and function efficiently in difficult conditions, solidifying their dominance in the market. These motors are favored for extended work periods and in isolated regions with limited access to electric charging stations, providing a greater operational distance and faster refuelling times.
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By Lift Capacity: In 2023, the telehandler market was dominated by the 3-10 Ton lift capacity segment, which held a majority share of around 54.2%. This widespread occurrence is due to its frequent utilization in the field of construction, where these versatile machines improve effectiveness and output in transporting large materials. Having the skill to navigate in tight spaces also helps in efficient loading and unloading of products in logistical and warehouse environments.
Telehandler Market Key Segmentation:
By Product
- Large
- Compact
By Type
- ICE
- Electric
By Lift Capacity
- Less than 3 ton
- 3-10 ton
- More than 10 ton
By End-use
- Construction
- Agriculture
- Manufacturing
- Others
Key Regional Developments: North America's Telehandler Market Leadership and Asia-Pacific's Rapid Growth in 2023
North America is currently the leading region in the telehandler market, with a market share of around 36.5% in 2023. The strong infrastructure and construction projects in the region are mainly responsible for this leadership, as they necessitate flexible material-handling machinery such as telehandlers. The increase in automation in manufacturing and logistic sectors has also driven the utilization of telehandlers, as they are able to efficiently complete a range of tasks. Improvements in telehandlers, such as upgraded control systems, increased fuel efficiency, and the integration of telematics, are fueling their increasing popularity in North America.
In 2023, the Asia-Pacific region is the market that is growing the quickest, with a share of around 22.5%. The increasing urbanization and infrastructure growth in the area are fueling the strong need for telehandlers. As cities in the Asia-Pacific region grow and new infrastructure is built, the demand for effective material-handling machinery has increased, leading to a fast-growing telehandler market in the area.
Future Growth of the Market
| Key Factors | Description |
| Increasing Demand for Material Handling | Rising demand for efficient material handling solutions in sectors like construction, agriculture, and logistics is driving market growth. |
| Urbanization | Urbanization, especially in developing regions, is leading to an increase in construction projects, creating a need for versatile machines capable of handling heavy loads in confined spaces. |
| Technological Advancements | Integration of smart technologies (telematics, automation) enhances functionality and efficiency, allowing operators to monitor performance and optimize maintenance. |
| Sustainability Trends | Growing focus on environmental standards leads companies to seek eco-friendly telehandlers that reduce emissions and fuel consumption, driving innovation in the market. |
| Transformation in Construction & Logistics | A shift towards automation and efficiency in global construction and logistics sectors positions telehandlers as essential tools to streamline operations and reduce labor costs. |
| Infrastructure Development | Increased government spending on infrastructure projects in emerging economies is anticipated to boost the demand for telehandlers, creating lucrative opportunities for manufacturers. |
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Recent Development
- In 2023: JLG announced the redesign of its popular SkyTrak telehandlers, specifically starting with the 6034 and 6042 models. This redesign aimed to enhance the durability and reliability of these models, catering to the needs of operators who use them daily in various work environments. The redesigned models focused on improving performance and ease of use, making them more efficient for everyday tasks.
- In 2024: JLG Industries Inc. introduced the E313 electric telehandler, an all-terrain, zero-emission machine designed for noise-sensitive environments, featuring a 3,500-lb lift capacity and a maximum lift height of 13 feet 1 inch.
Table of Contents – Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Manufacturing Output, by region, (2020-2023)
5.2 Utilization Rates, by region, (2020-2023)
5.3 Maintenance and Downtime Metrix
5.4 Technological Adoption Rates, by region
5.6 Export/Import Data, by region (2023)
6. Competitive Landscape
7. Telehandler Market Segmentation, By Product
8. Telehandler Market Segmentation, By Type
9. Telehandler Market Segmentation, By Lift Capacity
10. Telehandler Market Segmentation, By End-Use
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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