Companies Covered in Telehandler Market Research Report are 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)
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.
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.
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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About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
