IMARC Group's report titled " Telehandler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the global telehandler market share. The global market size reached US$ 6.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2032, exhibiting a growth rate (CAGR) of 5% during 2024-2032.
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Factors Affecting the Growth of the Telehandler Industry:
- Construction Industry Expansion:
The rising demand for telehandler services in the construction industry is impelling the market growth. Across the globe, there is a notable rise in infrastructure development and construction projects. Telehandlers are emerging as indispensable tools in these settings, facilitating the lifting and transportation of heavy materials. Their versatility and ability to reach significant heights make them a vital asset on construction sites. As urbanization continues to drive the need for new buildings, roads, and infrastructure, telehandlers play a pivotal role in streamlining construction operations. Their efficiency in handling materials and their adaptability to various job site conditions are solidifying their position as must-have equipment for construction companies.
- Industrialization and Warehousing:
The increasing demand for efficient material handling in warehouses and logistics centers is contributing to the market growth. Telehandlers are becoming a critical asset in these sectors due to their impressive lifting capabilities and maneuverability. In the industrial context, telehandlers are essential for loading and unloading heavy materials, which is crucial for maintaining efficient operations. Additionally, their ability to reach heights enables them to access elevated storage areas, optimizing warehouse space utilization. As e-commerce and logistics operations are expanding, the need for streamlined material handling processes is intensifying. Telehandlers not only improve efficiency but also contribute to cost savings by lowering the requirement of manual labor and decreasing the risk of accidents.
- Modernization of the Agricultural Sector:
The agricultural sector is undergoing modernization to increase crop yield and improve various operations. Farmers are turning to telehandlers to improve their operations and boost productivity. These machines offer various benefits in agricultural settings, making them a valuable investment. Telehandlers are utilized for various tasks in agriculture, such as lifting and transporting heavy bales of hay or straw. Their ability to reach elevated heights is advantageous when working with tall silos or handling crops in storage. Additionally, telehandlers enable farmers to load and unload materials quickly and efficiently.
Leading Companies Operating in the Global Telehandler Industry:
- AB Volvo
- Caterpillar Inc.
- Doosan Infracore Co. Ltd.
- Haulotte Group (Solem SA)
- C. Bamford Excavators Limited
- JLG Industries Inc. (Oshkosh Corporation)
- Komatsu Limited
- Liebherr Maschinen Bulle AG
- Manitou Group
- Merlo S.p.A
- Industria Metalmeccanica
- Skyjack Inc. (Linamar Corporation)
- Terex Corporation
- Wacker Neuson SE
Telehandler Market Report Segmentation:
By Product:
- Compact Telehandler
- Large Telehandler
Compact telehandler represents the largest segment as they are effective and easily available.
By Type:
- Rotating
- Non-rotating
On the basis of the type, the market has been bifurcated into rotating and non-rotating.
By Ownership:
- Rental
- Personal
based on the ownership, the market has been categorized into rental and personal.
By Height:
- Less Than 50 ft
- 50 ft & Above
On the basis of the height, the market has been divided into less than 50 ft and 50 ft and above.
By Capacity:
- Below 3 Tons
- 3-10 Tons
- Above 10 Tons
Based on the capacity, the market has been classified into below 3 tons, 3 -10 tons, and above 10 tons.
By Application:
- Construction
- Agriculture
- Forestry
- Mines and Quarries
- Others
Construction accounts for the majority of the market share due to the increasing construction of various residential and commercial buildings.
Regional Insights:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific’s dominance in the telehandler market is attributed to the rising focus on infrastructure development and increasing emphasis on maintaining worker safety in various industries.
Global Telehandler Market Trends:
The growing emphasis on renewable energy sources, such as wind and solar power is bolstering the market growth. Telehandlers are used in the construction and maintenance of wind turbines and solar panels, where they are essential for lifting heavy components to significant heights. Telehandlers are utilized for tasks like bridge maintenance, road repairs, and utility installations. Governments and municipalities invest in these machines to ensure the longevity of critical infrastructure assets, which sustains demand. Telehandlers are also gaining popularity due to their safety features and efficiency improvements. They come equipped with advanced technology like load sensors and stability systems, making them safer to operate. This safety factor is encouraging more industries to adopt telehandlers.
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