Telescopic Handlers Market Opportunities, Demand and Forecasts (2020-2026)

Rising investment in the construction sector is driving the global Telescopic Handlers Market. Fortune Business Insights in a new report, titled "TELESCOPIC HANDLERS MARKET: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026" predicts that the overall telescopic handlers market is expected to grow from USD 5,332.7 Million in 2018 to USD 9,596.9 Million by 2026 at a CAGR of 7.6% during the forecast period. The telescopic handlers market demand increases as the demand for telehandler machines rise from agriculture, environment, mining, construction, and logistics. Telehandlers are primarily used for digging trenches, load lifting, and material handling.

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JCB in India has launched a wide range of telehandlers on account of the increasing demand as a result of infrastructure expansion around the world. These telehandlers have a lift height of between 7 meters and 17 meters.

List of Top Key Players Mentioned:

JC Bamford Excavator Ltd.
Caterpillar
Doosan Bobcat
CNH Industrial America LLC
Manitou BF
Terex Corporation
Wacker Neuson SE
Liebherr-International Deutschland GmbH
Skyjack
HAULOTTE GROUP
JLG Industries
Komatsu Ltd.
AB Volvo

Several companies are upgrading their telescopic handlers to increase market share. For instance, Manitou upgraded its existing telehandler called MT 1135into a hybrid telehandler. The company is working with Deutz to produce hybrid telehandler MT 1335. Also, the company will continue to maintain its long-standing relationship with Road America. Manitou has been delivering construction equipment to Road America since 1989. The demand for aerial platform equipment is increasing, which drives the market. Considering this, the telescopic handlers market potential is likely to grow in the years to come.

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"APAC to Grow Faster Owing to Rapidly Growing Urbanization"

Larsen & Turbo (L&T) invested around USD 19.12 Million in the year 2017 in construction projects. This, as a result, will increase the telescopic handlers market size. As per the report, APAC is expected to be the fastest growing region owing to the rapid developments in construction industry. Other factors such as growing industrialization and urbanization are enabling growth in the market. Following APAC, Europe and North America are expected to witness high growth in the forecast years. The market in Europe is expected to gain from the rising demand in agricultural sector. The growing need for compact wheeled handlers or skid steer handlers in Europe triggers potential growth in the market. As per the Clean Energy Law by National Energy & Climate Plans (NECPs) in Europe, companies are required to produce eco-friendly and sustainable engines for telescopic handlers. In order to maintain sustainability and reduce fuel consumption, the government in Europe made an investment of around USD 35 Million in the manufacturing sector between 2016 and 2028. The market in North America is expected to grow at a higher CAGR in the forecast years, Moreover, the market was valued at USD 958.4 Mn in the year 2018.

"Rising Preference Towards Electric Telehandlers to Reduce Operational and Labor Costs"

"The rapidly growing infrastructure sector augments demand for innovative and advanced construction equipment, which increases the telescopic handlers market share," states a lead analyst at Fortune Business Insights. Integration of telematics in telehandlers and increasing adoption of hybrid telescopic handlers are positively impacting the growth of the market. Stringent environmental policies are compelling companies to manufacture electric telehandlers enabled with electric engine technology. A program called National Clean Air Program or NCAP was launched in 2019 in India. The program gives a clear understanding on how to control and reduce air pollution levels.

Electric telehandlers help to reduce carbon dioxide emissions across construction sites, which leads to a green and sustainable working environment. In order to follow the government guidelines, consumers are focusing on electric or green telehandlers. Governments around the world are encouraging consumers to use renewable sources of energy with an aim to introduce eco-friendly and efficient engines for telehandlers. All the above factors are expected to expand the telescopic handlers market size in the forthcoming years.

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