New York, US, March 02, 2023 (GLOBE NEWSWIRE) -- Telehandler Market Overview
The research reports by MRFR suggest that the Telehandler Market Information By Application, Region, and Capacity– Market Forecast Till 2030, the telehandler market is projected to flourish considerably during the assessment era from 2022 to 2030 at a robust growth rate of approximately 4.5%. The market was worth around USD 5,433.9 million in the year 2019. The reports further project the market to attain a valuation of around USD 8,541 million by the end of 2030.
Market Scope
Telehandlers refer to lift trucks utilized broadly to lift and transfer heavy materials, such as crates, container goods, and other such components, to short distances. These trucks are universally utilized in dockyards, recycling operations, and warehousing operations to carry out functions such as loading & unloading goods from vehicles and moving packed goods across storage areas. Furthermore, these vehicles have various attachments, such as grippers and platforms. Telehandler equipment refers to vital one for several industry sectors. It is easily available on rent depending on the need of the projects as per the application, which is ascribed to the lesser costs linked with renting and acquiring than purchasing new construction machinery. With several small and medium-scale manufacturers increasing in the global telehandler market, they cannot afford the equipment; there has been an increase in the telehandler rental business. The global market for telehandlers has displayed immense development in the last few years. The main aspect backing the market development is the ability of these trucks to easily and carefully transfer heavy loads to various locations. Development in telehandlers, like lithium-ion powered or electric type, will likely catalyze the demand for these telehandlers. On the contrary, the limited number of suppliers and the cyclic nature of lift trucks are anticipated to impact the market's development adversely. Nevertheless, the increase in demand for telehandlers by suppliers and manufacturers is projected to positively influence the performance of the regional market over the coming years.
Competitive Analysis
The global market for telehandlers is known for the presence of leading participants such as:
- Haulotte Group, Manitou Bf, Ltd. (France)
- C. Bamford Excavators Limited (U.K.)
- A.B. Volvo (Sweden)
- DOOSAN (U.S.)
- Terex Corporation (U.S.)
- J.L.G. Industries, Inc.
- Komatsu Ltd. (Japan)
- MERLO S.P.A. (Italy)
- Among others.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 8,541 million |
| CAGR | 4.5% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Technology, by Application, by Material |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Use in farming equipment |
| Sophisticated construction equipment |
Market U.S.P. Covered
Market Drivers
The global market for telehandlers has displayed immense development in the last few years. The main aspect backing the market development is the ability of these trucks to easily and carefully transfer heavy loads to various locations. Development in telehandlers, like lithium-ion powered or electric type, will likely catalyze the demand for these telehandlers. Nevertheless, the increase in demand for telehandlers by suppliers and manufacturers is projected to positively influence the performance of the regional market over the coming years. Furthermore, the rising degree of demand for telehandlers, processes, and skills across several market areas is projected to positively impact the development of the market over the review era. In addition, the aspects such as rising demand for these products in the automobile sector and the high consumption of telehandlers are also anticipated to enhance the market's growth over the coming years.
Market Restraints
On the contrary, several aspects are anticipated to restrict the performance of the market. The limited number of suppliers and the cyclic nature of lift trucks are anticipated to impact the market's development adversely. In addition, the aspects such as the lack of resolution of environmental & occupational hazards, high time consumption to get the process done, and rising defects in the market products are also anticipated to impede the market performance over the assessment era.
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COVID-19 Impact
The global health crisis in the form of COVID-19 has immensely affected most industry sectors. Considering the fast spread of the infectious disease, various governments across the globe revealed partial or complete lockdowns for a fairly long time. Accordingly, industry operations were halted, and some businesses shut down. The telehandler market confronted numerous unforeseen challenges during the pandemic due to the abrupt fall in demand for vehicles and the travel restrictions enforced.
Segment Analysis
Among all the product types, the large telehandlers segment is anticipated to secure the top place across the global market for telehandlers over the review era.
Among all the end-use sectors, the Automotive segment is predicted to secure the top spot across the global market for telehandlers over the assessment era.
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Regional Analysis
The MRFR research documents imply that the Asia-Pacific region is predicted to lead the global market for telehandlers by contributing a maximum share of approximately 58% over the review timeframe. The reports further predict the regional market to showcase a substantial growth rate of around 4% over the coming years. the main parameter backing the development of the regional market is the rising communication portal development across nations such as India, Indonesia, and China, among other APAC regions. Furthermore, there has been a huge degree of expansion of the telehandler industry infrastructure witnessing demand from high consumers of telehandlers that are anticipated to enhance the regional market performance over the coming years.
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