The telehandlers market has witnessed eminent growth in the last couple of years globally. Factors such as increasing mining, agricultural, and infrastructural projects are driving the demand for construction equipment including telehandlers across the world. In addition, the emergence of smart technology and introduction of electric telehandlers. Apart from the construction industry, the agriculture industry plays an essential role in stimulating the demand for telehandlers in the market. The US, China, India, and Brazil are among the prominent countries indulged in agricultural activities. Telehandler is a mechanical equipment used in diverse industries such as mining, forestry, construction, and agriculture. The use of telehandlers is heavily observed in North American and European markets, whereas in the Asian market, it is not widely adopted. In Asia, other alternative machines such as mini cranes are used. On the contrary, the economic condition of Asian countries continues growing, which could provide the telehandlers providers with a platform to grow their market in untapped emerging economies.
Infrastructure-driven growth in countries such as China has resulted in high economic growth and increase in the demand for commodities such as iron ore, coal, manganese, cobalt, and copper. The exploration activities for necessary minerals and metals are vital for the overall growth of the mining industry. In addition, growth of infrastructural projects and development of the urban industry are fueling the demand for construction equipment within the construction industry. On the account of rising infrastructural projects globally, the need for equipment integrated with sophisticated technologies is growing to ensure a higher level of productivity.
Due to factors mentioned above, the telehandlers market is expected to grow.
The 2019-20 COVID-19 (coronavirus) pandemic had a major impact on society, public health, and the economy as a whole. Further, it has also caused chaos to the myriad of industries such as construction, manufacturing, and mining. In an attempt to stop the spread of the virus, several companies are taking steps to ensure the safety and wellness of the employees. Constructional projects have been kept on-hold in the amid of Covid-19 outbreak. Also, manufacturing industries has closed down their facilities due to lockdown. For instance, JLG Industries has suspended production in the US and France, whereas, in China and Romania the facilities are operational with limited workforce. Shutdown or production with low capacity are the major factors which would further impact the concern end user industry like construction for further business, and will eventually the adoption of telehandlers.
Based on type, the telehandlers market is segmented into compact Telehandler, high-lift telehandler, and high-load telehandler. The high-lift telehandler segment captured a dominating share in the global telehandlers market. The growing construction and mining activities globally is demanding the deployment of high lift telehandlers to streamline its overall operations by lifting heavy loads to great heights. These telehandlers are also being used across construction, manufacturing, warehousing, mining, and quarrying.
The telehandlers market, by propulsion type, is segmented into hybrid, combustion, and electric. The combustion segment captured a dominating share in the global telehandlers market. The telehandlers, which uses internal combustion engines, makes use of a variety of fuels such as gasoline, liquid petroleum gas (LPG), diesel fuel, and compressed natural gas.
Based on lift capacity, the telehandlers market is segmented into below 3 tons, 3 - 10 tons, and above 10 tons. The 3 - 10 tons segment captured a dominating share in the global telehandlers market. The telehandlers are very much compatible with a wide range of accessories due to the RFID system that automatically recognizes the creation of dynamic load charts to meet the numerous requirements across the manufacturing and construction sector.
The telehandlers market, by lift height, is segmented into below 5 meter, 5 - 15 meter, and above 15 Meter. The 5 – 15meter segment captured a dominating share in the global telehandlers market. The telehandlers with heights between 5 to 15 meters is designed to offer the highest levels of productivity and performance, along with economical running costs, enviable versatility, world-beating build quality, as well as a wide range of attachments.
The telehandlers market, by end user, is segmented into construction, agriculture, mining, forestry, and others. The construction segment captured a dominating share in the global telehandlers market. The growing construction industry with rise in development in the healthcare, social, and educational infrastructure globally is demanding telehandlers to lift the loads.
Market initiative and new development strategies are commonly adopted by companies to expand their footprint worldwide and meet the growing demand. These strategies are mostly observed in North America and Europe. The players present in the telehandlers market adopt the strategy of expansion and investment in research and development to enlarge customer base across the world, which also permits the players to maintain their brand name globally.
The regional trends and factors influencing the Telehandlers Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Telehandlers Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 6.03 Billion |
| Market Size by 2027 | US$ 7.31 Billion |
| Global CAGR (2019 - 2027) | 2.41% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Telehandlers Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Telehandlers Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - Telehandlers Market
The telehandlers/telescopic telehandlers are continually being used across the construction industry for lifting heavy loads. They are most commonly used for lifting pallet boards as well as moving heavy loads to a particular height or unreachable areas. Most of the manufacturers are robustly focusing on the development of advanced telehandlers to replicate the features of cranes, forklifts, and work platforms, which are attached to the telescopic telehandlers for reducing the time as well as effort in transporting heavy loads efficiently to carry out tasks quickly with the application of two or more machines.
The Europe region led the telehandlers market in 2019. The major contributors to the telehandlers market in Europe are Germany, France, the UK, Russia, and Italy, among others. The western part of Europe is known for its better standards of living, with people exhibiting higher income levels. Such enhancement in areas/sectors provides ample growth opportunities to the businesses to further nurture their business organization through product development, geographical expansion, and others
Infrastructure-driven growth in countries such as China has resulted in high economic growth and increase in the demand for commodities such as iron ore, coal, manganese, cobalt, and copper. The exploration activities for necessary minerals and metals are vital for the overall growth of the mining industry. The mining activities are likely to be initiated in more exotic locations with the progression of civilization in the coming years. For instance, gold mines in South Africa, Russia, Indonesia, the US, and other countries are expected to draw attention for more mining activities. Similarly, China and South Africa are the major countries known for significant number of production sites for iron ore. To continue with mining activities, the need for appropriate equipment will be necessary for greater productivity while ensuring low risk of fatalities.