Top Market Shifts Transforming the Telescopic Boom Forklift Truck Market Landscape: Key Insights

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

What Is the Expected CAGR for the Telescopic Boom Forklift Truck Market Through 2025?
The market for telescopic boom forklift trucks has been experiencing robust growth in the previous years. It is projected to expand from $4.04 billion in 2024 to $4.31 billion in 2025, with a compound annual growth rate (CAGR) of 6.6%. Factors such as military disputes, naval upgrades, the spread of submarines, defense budget allocations, domestic security issues, and alertness to underwater threats have contributed significantly to the growth seen in the historical period.

What's the Projected Size of the Global Telescopic Boom Forklift Truck Market by 2029?
Forecasts project robust expansion in the telescopic boom forklift truck market in the imminent years, and it is predicted to reach a value of $5.86 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.0%. The uptrend seen in the forecast period can be credited to matters of global security, unmanned underwater systems, plans for navy modernization, ecological concerns, and Arctic security. Prominent trends expected during this forecast period encompass tech advancements, geopolitical frictions, anti-submarine warfare (ASW), affiliations and alliances, and cross-domain integration.

View the full report here:
https://www.thebusinessresearchcompany.com/report/telescopic-boom-forklift-truck-global-market-report

Top Growth Drivers in the Telescopic Boom Forklift Truck Industry: What's Accelerating the Market?
The telescopic boom forklift truck market is projected to grow owing to the expansion of the construction industry. This sector, which includes manufacturing and trade activities related to infrastructure maintenance or construction, relies heavily on telescopic boom forklift trucks to transport heavy building materials like steel beams, bricks, or concrete blocks. Illustratively, the Australian Bureau of Statistics data from May 2024 showed that the construction industry's EBITDA in 2022 rose by 11.6% to $6.1 billion, rebounding from an 8.4% decrease to $4.8 billion the previous year. Moreover, the industry's IVA witnessed a 14.8% increase, equating to $21.0 billion, following a 9.6% rise of $12.4 billion in the prior year. Hence, the augmenting construction industry is bolstering the expansion of the telescopic boom forklift truck market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=10397&type=smp

Which Fast-Growing Trends Are Poised to Disrupt the Telescopic Boom Forklift Truck Market?
The uptake of cutting-edge technology is a prominent trend being witnessed in the telescopic boom forklift truck market. Top-tier companies in the telescopic boom forklift truck industry are resorting to novel and game-changing products to consolidate their market stand. For example, JLG Industries Inc., a manufacturing firm based in the US, introduced the JLG 670SJ self-leveling boom lift technology for telescopic boom forklifts in November 2022. The diesel-powered JLG 670SJ Self-Leveling Boom Lift is specifically engineered for applications in sectors like construction, maintenance, and industry. This system is designed to self-adjust the platform's position to ensure a stable work surface, even on irregular terrains. This assists in providing enhanced safety and productivity, enabling operators to work with high efficacy. The system comes equipped with sensors to perceive alterations in the boom's angle and adjust the platform's position accordingly. These sensors are strategically placed at the boom's base, transmitting signal to the lift's hydraulic system.

What Are the Main Segments in the Telescopic Boom Forklift Truck Market?
The telescopic boom forklift truckmarket covered in this report is segmented -

1) By Power Source: Electric, Fuel, Hybrid
2) By Lift Height: Less Than 20 Feet, 20 feet To 50 Feet, 50 feet To 70 Feet, Above 70 Feet
3) By End-User Industry: Construction, Utility, Logistics And transportation, Other End Users

Subsegments:
1) By Electric: Battery Electric Forklift Trucks, Plug-In Electric Forklift Trucks, Lithium-Ion Electric Forklift Trucks
2) By Fuel: Diesel Forklift Trucks, Gasoline Forklift Trucks, Propane Forklift Trucks
3) By Hybrid: Diesel-Electric Hybrid Forklift Trucks, Gasoline-Electric Hybrid Forklift Trucks, Other Hybrid Models

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=10397&type=smp

Which Top Companies are Driving Growth in the Telescopic Boom Forklift Truck Market?
Major companies operating in the telescopic boom forklift truck market include Caterpillar Inc., J C Bamford Excavators Ltd., JLG Industries Inc., ere*x Corporation, Manitou Group, Wacker Neuson SE, Liebherr-International AG, DIECI S.r.l., MERLO S.p.A., Hyster-Yale Materials Handling Inc., Hangcha Forklift, Toyota Material Handling India Pvt. Ltd., Hefei Banyitong Science & Technology Developing Co. Ltd., Hanselmann GmbH, HD Hyundai Infracore Co. Ltd., CNH Industrial N.V., MEC Aerial Work Platforms, Magni Telescopic Handlers Srl, HAULOTTE GROUP, Genie Industries, Bobcat Company, Pettibone Traverse Lift LLC, Gehl Company, Xtreme Manufacturing, Snorkel International

Which Regions Will Dominate the Telescopic Boom Forklift Truck Market Through 2029?
Asia-Pacific was the largest region in the telescopic boom forklift truck market in 2024. The regions covered in the telescopic boom forklift truck market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=10397

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.