According to a new report published by Allied Market Research, titled, " Telehandlers Market by Height and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global telehandlers market size was valued at $5,433.9 million in 2018, and is projected to reach $7,821.4 million by 2026, growing at a CAGR of 4.5% from 2019 to 2026. A telehandler, also known as a telescopic handler, is a vehicle with a telescopic boom, fitted with various lifting accessories. The growth in investments in development of telehandlers by manufacturers has encouraged fleet owners and rental companies to adopt this equipment. In addition, reduction in the utilization of heavy equipment decreases capital investments and maintenance costs for rental companies and fleet owners.
In 2018, based on height, the less than 50 ft segment accrued the largest share in the market. Growth in this segment is supplemented by convenience that telehandlers have over traditional forklifts and other material lifting equipment. In addition, expansion of the infrastructure sector throughout the globe, especially in emerging nations such as China and India drives the telehandlers market growth. Moreover, telehandlers are suited for heavy tasks in the agriculture sector earlier suited for heavy equipment. Thus, the growth of the agriculture sector, owing to increase in population, is projected to fuel the demand for market in the coming years.
In 2018, on the basis of end-user, the construction segment garnered a significant market share, owing to the expansion of the infrastructure sector in developing regions. In addition, the mining segment is expected to exhibit significant growth during the forecast period. Proliferation of new commercial and construction properties in developing countries is expected to propel the demand for construction equipment, which, in turn, is anticipated to fuel the growth of the global telehandlers market. Moreover, growth in the retail infrastructure across developing nations is anticipated to boost the sales of telehandlers, especially through hypermarkets and other channels. In terms of region, Asia-Pacific and Europe collectively contributed around 61.7% of the telehandlers market shares in the global market in 2018.
Key Findings of the Telehandlers Market:
- The report provides an extensive analysis of the current and emerging telehandlers market trends and dynamics.
- Depending on height, the less than 50 ft segment dominated the telehandlers market, in terms of revenue, in 2018 and the 50 ft & more segment is projected to grow at a CAGR 4.9%, during the forecast period.
- By end-user, the construction segment led the market in 2018.
- Asia-Pacific is projected to register the highest growth rate in the coming years.
- Key market players within the telehandlers market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the telehandlers industry.
- The report provides an extensive analysis of the telehandlers market trends and emerging opportunities of the market.
- In-depth, the telehandlers market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
- The global telehandlers market forecast analysis from 2019 to 2026 is included in the report.
The key players profiled in the telehandlers market report include Wacker Neuson SE, Doosan Infracore Co. Ltd., Terex Corporation, Liebherr Group, Manitou Group, J.C. Bamford Excavators Ltd., Linamar Corporation, Caterpillar, CNH Industrial , and Oshkosh Corporation; and some enterprises, like JCB, Caterpillar, and Terex Corporation, which are well-known for their wonderful performance in telehandlers and related services. Many players have adopted product development as their key developmental strategy to improve their product portfolio.
For instance, in June 2019, JCB launched the new Hydraload 555-210R telehandler with rotating telescopic handler. The product features maximum lift capacity of 5.5 tons, with maximum lifting height of 20.5m. The machine is powered using high efficiency Ecomax engines. Similarly, in October 2017, Liebherr launched 8 new models of telescopic handlers. The new models are available in 26 different versions, with lifting height range from 6m to 10m. The range features three 7m models, one 6m model, and one 10m model, as well as two additional 7m models, and one 9m model.