Telehandler Market Size to Reach US$ 9.2 Billion by 2028 | Industry CAGR of 5.6%

IMARC Group, a leading market research company, has recently releases report titled Telehandler Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 The study provides a detailed analysis of the industry, including the global telehandler market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the telehandler market?

The global telehandler market size reached US$ 6.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028.

What is a telehandler?

A telehandler, or telescopic handler, refers to versatile heavy-duty equipment for lifting and handling various loads. It is typically equipped with multiple attachments, including pallet forks, winches, muck grabs, and buckets. These attachments add to the versatility of the equipment, allowing it to perform different tasks. It offers numerous advantages, such as flexibility in its functionality, making it suitable for both on-road and off-road driving. It also boasts high load capacity, enabling the lifting and moving of heavy objects with ease. Additionally, it provides excellent loading height, facilitating efficient loading and unloading operations. Unlike unidimensional forklifts, telehandlers can move diagonally, allowing them to pick up and transport loads that would otherwise be inaccessible. The extendable boom of a telehandler enables it to reach odd angles and navigate through tight spaces with ease. It can also suspend loads using chains and maneuver heavy objects to hard-to-reach areas. As a result, telehandlers find extensive applications in dockyards, warehousing operations, and recycling facilities across the globe, wherein they are used for loading and unloading goods and moving packed items within storage areas.

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What are the growth prospects and trends in the telehandler industry?

The global telehandler market is primarily driven by the rising construction activities in the residential, commercial, and industrial sectors, as telehandlers are essential for the efficient loading and unloading of construction materials on job sites. Moreover, the escalating demand for telehandlers equipped with attachments for performing agricultural tasks, such as handling stacks of hay, livestock feed, and heavy containers due to the widespread adoption of modern farming practices, is positively influencing the market growth. Along with this, the rising use of telehandlers in landscaping and gardening activities, supporting various urban planning projects, is another major growth-inducing factor. Additionally, the surging need for telehandlers in solid waste management and recycling operations owing to rapid industrialization has catalyzed market growth. Besides this, manufacturers and rental fleet owners are offering tailored solutions to cater to a broader customer base due to the rapid expansion of construction equipment rental services, which in turn has accelerated the product adoption rate.

Furthermore, the development of electric engine telehandlers with improved load-bearing capacities and 360-degree movement capabilities is contributing to the market growth as these electric engines help foster a green working environment by reducing CO2 emissions at construction sites. In addition, the escalating demand for green products among environment-conscious consumers is augmenting the market growth. Other factors, including the increasing investments by government agencies in infrastructure development projects across numerous countries, significant growth in the manufacturing sector, and ongoing technological advancements, are also anticipated to create a positive market outlook.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product:

Compact Telehandler
Large Telehandler

Breakup by Type:

Rotating
Non-rotating

Breakup by Ownership:

Rental
Personal

Breakup by Height:

Less Than 50 ft
50 ft Above

Breakup by Capacity:

Below 3 Tons
3-10 Tons
Above 10 Tons

Breakup by Application:

Construction
Agriculture
Forestry
Mines and Quarries
Others

Breakup by Region:

North America (U.S. Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East Africa

Who are the key players operating in the industry?

The report covers the major market players including:

AB Volvo
Caterpillar Inc.
Doosan Infracore Co. Ltd.
Haulotte Group (Solem SA)
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)
Terexs Corporation
Wacker Neuson SE.

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This release was published on openPR.