Pune, India, Nov. 29, 2021 (GLOBE NEWSWIRE) -- 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. In December 2019, JCB, for instance, added three new products in its ‘Telehandlers - the Made in India.’ They have a lift height of 7-17 meters. This information is given by Fortune Business Insights™ in a new study, titled, “Telehandler Market, 2021-2028.” The study further mentions that the telehandler market size was USD 5.87 billion in 2020. It is projected to grow from USD 6.19 billion in 2021 to USD 9.38 billion in 2028 at a CAGR of 6.1% during the forecast period.
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List of Key Players in Telehandler 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)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 6.1% |
| 2028 Value Projection | USD 9.38 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 5.87 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 160 |
| Segments covered | Type, Technology, Lift Height, Lift Capacity, End-User and Geography |
| Growth Drivers | Increasing Implementation of Stringent Environment Policies to Boost Growth |
| Asia Pacific to Remain at the Forefront Backed by Rising Investments in Construction Projects | |
| Key Players Focus on Developing New Products to Intensify Competition |
Report Coverage-
As customer expectations are changing, the aspirations of dealers are also transforming rapidly. Distribution channels are becoming complex. To provide our clients with detailed information, we have conducted extensive primary and secondary research. We have thoroughly observed each opportunity qualitatively and quantitatively so that our clients get a complete insight of both emerging and existing opportunities. We have also conducted a techno-economic study.
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
Drivers & 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 Telehandler.
COVID-19 Pandemic: 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.
Segmentation-
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.
Regional Insights-
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.
Competitive Landscape-
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. Below is one of the most recent industry developments:
- July 2019: Doosan Bobcat is set to open its new Global Collaboration Center in Minneapolis. The center will enable teams to work closely by becoming a central meeting location to boost collaboration and innovation.
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends of Market
- Key Insights
- Macro and Micro Economic Factors
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Impact Analysis of COVID 19
- Global Telehandler Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Type (Value)
- Compact
- High lift
- High load
- Market Sizing Estimations and Forecasts – By Technology (Value)
- Hybrid
- Electric
- Combustion
- Market Sizing Estimations and Forecasts – By Lift Height (Value)
- Less than 5 meters
- 5-15 meters
- More than 15 meters
- Market Sizing Estimations and Forecasts – By Lift Capacity (Value)
- Less than 3 tons
- 3-10 tons
- More than 10 tons
- Market Sizing Estimations and Forecasts – By End-User (Value)
- Construction
- Forestry
- Agriculture
- Oil & Gas
- Manufacturing
- Transport & logistics
- Power utilities
- Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- North America Telehandler Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Type (Value)
- Compact
- High lift
- High load
- Market Sizing Estimations and Forecasts – By Technology (Value)
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