Telescopic Boom Forklift Truck Market Top Companies and Industry Growth Insights at a CAGR of 7.7% 2031

The rise in automation and adoption of Industry 4.0 technologies within industries has been a significant driving force behind the increasing demand for telescopic boom forklift trucks. These machines offer versatility in handling various loads, making them indispensable in modern industrial and agricultural settings. As industries seek to enhance productivity and efficiency, the need for advanced material handling equipment like telescopic boom forklifts becomes more pronounced.

The global telescopic boom forklift truck market size was valued at $3.41 billion in 2021, and is estimated to reach $7.33 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2031.

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Moreover, the construction sector, including both residential and non-residential projects, plays a pivotal role in driving the demand for telescopic boom forklifts. These machines are instrumental in handling heavy materials and equipment on construction sites, contributing to the overall efficiency and safety of operations.

One of the key advantages of telescopic boom forklift trucks lies in their extendable arms, which provide dual functionality as both a forklift and a crane. This versatility allows them to access tight spaces and maneuver loads with precision, making them indispensable in various applications such as pallet handling in warehouses or lifting materials to elevated areas like rooftops. This feature significantly enhances their utility and makes them preferred choices across industries.

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Segmentation Based On:

By End-user industry -
• Construction
• Utility
• Logistics & transportation
• Others

By Lift height -
• 20 feet to 50 feet
• 50 feet to 70 feet
• Above 70 feet
• Less than 20 feet

By Power source
• Electric
• Fuel
• Hybrid

Top Players:
Merlo S.p.A, Caterpillar, Liebherr-International AG, JLG Industries, DIECI Srl, Wacker Neuson SE, J C Bamford Excavators Ltd., Manitou Group, Linamar Corporation

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Overall, the combination of factors such as automation, construction activities, and the unique capabilities of telescopic boom forklift trucks is expected to continue driving their market growth in the foreseeable future. As industries increasingly prioritize efficiency and safety in material handling operations, the demand for these versatile machines is likely to remain robust.

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