Telehandlers Market size is estimated to be worth around US$ 4,210.6 Mn in 2022-FMI

Future Market Insights (FMI) predicts that the global telehandlers market will increase by 4.7% annually in 2022, reaching a value of about US$ 4,210.6 Mn by the year's end. The demand for telehandlers in infrastructure and construction development projects is increasing. Telehandlers are used by customers in the manufacturing, mineral processing, and mining industries. They have a wide range of applications and the ability to hold a variety of attachments.

The need to shorten the time required for maintaining industrial machinery like overhead cranes is driven by the growing automation of industries. The market for telehandlers expands as a result. Between 2022 and 2030, there is expected to be a significant value CAGR of 5.1% in the global telehandlers market.

FMI has identified North America commands global telehandlers market and is followed by Europe owing to a prominent share and having organized participants in these regions. North America and Europe are projected to hold a collective revenue share of 70.6 % in the global market, by the end of 2030.

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Telehandlers are set to be the first machinery that can be deployed at operation sites for material handling without prior ground preparation due to their multipurpose features that allow them to perform the tasks of cranes, loaders, and access equipment in a variety of industries.

While the United States and Europe were early adopters of telehandlers, future growth will be dependent on demand from China, India, Brazil, the Gulf Cooperation Council, and countries with upcoming megaprojects.

Tech-driven performance and dependence in tandem with total cost of ownership (TCO) possess better value of money over long run.

End-users, seeking customized solutions at slightly higher price, will find value addition in telehandlers as overall machine expense and its utilization in projects will justify customers' initial investment in the machinery.

Key Takeaways of Telehandlers Market Study
Worldwide sales of telehandlers to surpass US$ 6 Bn in 2030
Manufacturers to reap substantial gains from telehandlers having maximum lift height of 30′-60′
 'Electrification' and 'lightweighting' to emerge as disruptive forces in global market
The US and Europe remain the most lucrative markets

"Telehandlers are equipped with an array of attachments including, jib and crane, pallet fork, tire handlers, and re-handling multi-purpose buckets, and these attachments are transforming continuously as the cab continues to explore potential application avenues," says analyst at FMI.

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COVID-19 Impact on Telehandlers Market
The COVID-19 pandemic has had immediate repercussions on the global economic order and that effect goes across every industry, including construction. Worldwide construction growth has slumped to 0.5% CAGR from the expected 3.1% for 2022.

Constructional projects have been delayed, and manufacturing operations have been ceased due to nationwide lockdowns amid the COVID-19 crisis. With steep drop in operations in construction and manufacturing sites, demand for telehandlers has been severely affected.

Telehandlers Market - Competitive Intelligence
The global telehandlers market is highly consolidated with prominent players capturing about two-fifths of overall market value. Manufacturers are developing telehandlers armed with new features in an effort to lock in customers and achieve economies of scale. For instance,

JCB has rolled out its new telehandlers - Hydraload 555-210R - with rotating telescopic handler. The machine comes with maximum lifting height of 20.5 m and maximum lift capacity of 5.5 tons
Xtreme Manufacturing has introduced telehandlers that exhibit 17,000-pound capacity. The telehandlers are armed with the company's novel modular cab design that allows them to be simply switched from open to enclosed, or vice versa, with an optional gear. This offers customers with enhanced flexibility while running telehandlers in several environments

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To Know More About Telehandlers Market:
A new market research report published by Future Market Insights (FMI) on the global telehandlers market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2022-2030. The report examines the telehandlers market through three different segments - maximum lift height, ownership, and region.

The telehandlers market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of telehandlers and product adoption across several end-use industries.

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

This release was published on openPR.