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Telescopic Boom Forklift Truck Market 2023 - Market Size, Trends, Growth Analysis And Industry Forecast To 2032
Telescopic Boom Forklift Truck Market
The Business Research Company's Telescopic Boom Forklift Truck Global Market Report 2023 identifies growing construction industry as the major driver for the Telescopic Boom Forklift Truck market's growth in the forecast period. The construction industry refers to the sector of manufacturing and trade that is concerned with building, maintaining, and repairing infrastructure. In construction industry, telescopic boom forklift truck machines are used to lift and move heavy loads of construction materials, such as steel beams.
The global telescopic boom forklift truck market size is expected to grow from $3.39 billion in 2022 to $3.72 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global telescopic boom forklift truck market size is expected to reach $5.15 billion in 2027 at a CAGR of 8.5%.
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Major competitors in the Telescopic Boom Forklift Truck market are Caterpillar Inc., J C Bamford Excavators Ltd., JLG Industries Inc., Corporation, Manitou Group, Wacker Neuson SE, Liebherr-International AG.
A key trend in the Telescopic Boom Forklift Truck market includes product innovations. Major companies operating in the telescopic boom forklift truck market are adopting new innovative products to sustain their position in the market. For instance, in November 2022, JLG Industries Inc., a US-based manufacturing company launched the JLG 670SJ self-leveling boom lift technology for telescopic boom forklifts. The JLG 670SJ Self-Leveling Boom Lift is a diesel-powered telescopic boom lift designed for use in construction, maintenance, and industrial applications. This system automatically adjusts the position of the platform to maintain a level working surface, even when operating on uneven terrain. This offers advanced safety and productivity features to help operators work more efficiently.
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The Telescopic Boom Forklift Truck market is segmented -
• By Power Source: Electric, Fuel, Hybrid
• By Lift Height: Less Than 20 Feet, 20 feet To 50 Feet, 50 feet To 70 Feet, Above 70 Feet
• By End-User Industry: Construction, Utility, Logistics And transportation, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Telescopic Boom Forklift Truck market.
The Business Research Company's "Global Telescopic Boom Forklift Truck Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Telescopic Boom Forklift Truck Market Include:
1. Executive Summary
2. Telescopic Boom Forklift Truck Market Characteristics
3. Telescopic Boom Forklift Truck Market Trends And Strategies
4. Telescopic Boom Forklift Truck Market - Macro Economic Scenario
5. Telescopic Boom Forklift Truck Market Size And Growth
………………………………………………………….
26. Africa Telescopic Boom Forklift Truck Market
27. Telescopic Boom Forklift Truck Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Telescopic Boom Forklift Truck Market
29. Telescopic Boom Forklift Truck Market Future Outlook and Potential Analysis
30. Appendix
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