Newark, May 13, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global heavy-duty telehandler market will grow from USD 2.81 Billion in 2023 to USD 4.91 Billion by 2033. Telehandlers with robust features rely on diesel engines to generate enough power and force to lift and handle bulky loads. Typically engineered with durability, these motors can withstand constant use even under harsh working conditions. Moreover, electric or hybrid telehandler models have lower operating expenses and environmentally friendly operations suitable for specific applications. Ensuring safety is a top priority during the operation of a heavy-duty telehandler. The operators typically need to undergo adequate training and obtain certification to grasp the equipment's capabilities and limitations effectively. Moreover, telehandlers come equipped with an array of security features such as load sensors, stability systems, and operator restraint systems that assist in averting accidents or injuries on-site.
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Scope of Heavy-Duty Telehandler Market
| Report Coverage | Details |
| CAGR | 5.6% from 2024 to 2033 |
| Market Size in 2023 | USD 2.81 Billion |
| Market Size by 2033 | USD 4.91 Billion |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2020-2022 |
| Segments Covered | Capacity, Application, Regions |
Key Insight of the Heavy-duty telehandler Market
North America region is expected to grow at the highest CAGR during the forecast period.
During the forecast period, North America is expected to grow at the highest CAGR within the global heavy duty telehandler market. The North America region will significantly expand. The North American market for heavy-duty telehandlers has a dominant global position, spurred by robust infrastructure development and industrial expansion across the United States and Canada. The region boasts a mature construction industry with significant residential, commercial, and infrastructure investment. This results in a high demand for telehandlers that aid material handling, lifting, and logistics operations. The availability of major manufacturers, dealerships & rental companies catering to end-use sectors such as agriculture manufacturing further fortifies its growth prospects. Additionally, it leads technological innovation focused on product differentiation, safety features, and telematics solutions adhering to stringent regulatory requirements, adding value to customers.
The 10.1 to 15 Ton segment is expected to grow at the highest CAGR during the forecast period.
The capacity segment includes 5 to 10 Ton, 10.1 to 15 Ton, and 15 Ton and Above. The 10.1 to 15 Ton segment is expected to grow at the highest CAGR during the forecast period. The 10.1 to 15-ton capacity segment represents a niche but growing segment within the global heavy-duty telehandler market, catering to specialized lifting and handling requirements in construction, infrastructure, and heavy industrial applications. Telehandlers in this capacity range offers increased lifting capacity, extended reach, and enhanced stability compared to smaller models, making them suitable for handling larger loads, bulky materials, and heavy equipment on challenging job sites. Common applications include lifting steel beams, precast concrete panels, machinery components, and construction materials at height or over rough terrain. The 10.1 to 15-ton capacity segment targets a specific customer base comprising large construction firms, industrial facilities, and infrastructure projects requiring high-capacity lifting solutions for specialized tasks.
The agriculture segment is expected to grow at the highest CAGR during the forecast period.
The application segment includes construction, mining, and agriculture. The agriculture segment is expected to grow at the highest CAGR during the forecast period. The heavy-duty telehandler market is prominent in the agriculture industry, specifically for tasks requiring high lifting capacities and versatile material handling capabilities within farming, livestock care, and other agricultural operations. Telehandlers are essential to these activities as they provide necessary functions like loading/unloading materials or placing equipment on farms/ranches/processing facilities, etc. Applying to agriculture needs directly above 10-ton lifting capacity is common when dealing with hay bales or bulk transportation such as grain/fertilizer handling. Moreover, these machines offer various benefits to agricultural workers by enabling them to perform vital duties faster while reducing labor expenses significantly. Industrialization trends and urbanization initiatives foster efficiency throughout the sector's workflows- thus strengthening demand even further among many operators who rely heavily upon advanced solutions for their business' productivity enhancement & cost reduction goals alike.
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Recent Developments:
• In April 2023: A new range of telehandlers designed to satisfy the needs of the North American construction industry especially has been introduced, according to Manitou.com. There are seven variants in this new series, with lifting capacities ranging from 6,000 to 12,000 pounds and heights between 43 and 56 feet.
Market Dynamics
Driver: Technological Advancements
Continuous innovation is the key contributor to expanding the global heavy-duty telehandler industry. Manufacturers consistently dedicate resources to research and development to enhance telehandlers' efficiency, performance, and safety features. Advancements specific to hydraulic systems, control mechanisms, telemetry solutions, and operator interfaces have facilitated efficient operation across different applications as well as environments through precision & a secure medium. Telematics integration with IoT has paved the way for remote monitoring, facilitating predictive maintenance while optimizing fleet management, driving overall productivity, and leading to operational cost reduction significantly lower than before.
Restraint: Skills Shortages and Workforce Challenges
The heavy-duty telehandler market is prominent in the agriculture industry, specifically for tasks requiring high lifting capacities and versatile material handling capabilities within farming, livestock care, and other agricultural operations. Telehandlers are essential to these activities as they provide necessary functions like loading/unloading materials or placing equipment on farms/ranches/processing facilities. Applying to agriculture needs directly above 10-ton lifting capacity is common when dealing with hay bales or bulk transportation such as grain/fertilizer handling. Moreover, these machines offer various benefits to agricultural workers by enabling them to perform vital duties faster while reducing labour expenses significantly. Industrialization trends and urbanization initiatives foster efficiency throughout the sector's workflows- thus strengthening demand even further among many operators who rely heavily upon advanced solutions for their business' productivity enhancement & cost reduction goals alike.
Opportunity: Shift towards Rental Market
The rising inclination towards rental and leasing models for equipment is pushing the demand for heavy-duty telehandlers across different industries, such as agriculture, construction, and industrial sectors. Equipment leasing providers are further augmenting this trend by offering a versatile range of cost-effective solutions to customers seeking telehandlers for short-term projects or temporary capacity needs. Renting or Leasing Telehandler minimises financial risks and eliminates any upfront capital investment requirements while maintaining low maintenance costs and enabling access to the latest model equipment at minimal expenditure. This aspect ensures that renting these machines remains an attractive option overall.
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Some of the major players operating in the Heavy-duty Telehandler Market are:
• AB Volvo
• Wacker Neuson SE
• Caterpillar
• Manitou.com
• Komatsu Ltd.
• HAULOTTE GROUP
• J C Bamford Excavators Ltd.
• L&T Technology Services Limited
• Doosan Corporation
• Oshkosh Corporation
• Terex Corporation
• CNH Industrial N.V.
Key Segments Cover in the Market:
By Capacity:
• 5 to 10 Ton
• 1 to 15 Ton
• 15 Ton and Above
By Application:
• Construction
• Mining
• Agriculture
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channel analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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