Global Telehandlers Market to Reach US$ 7.1 Bn by 2031; with an Estimated 6.1% CAGR (2023 to 2031); states TNR

The global telehandlers market is poised for robust expansion over the forecast period from 2023 – 2031; according to a comprehensive market study.

WILMINGTON, DELAWARE, UNITED STATES, December 12, 2023 /EINPresswire.com/ -- Telehandlers, also known as telescopic handlers, have witnessed increased adoption across various industries owing to their versatility, efficiency, and technological advancements. The global telehandlers market continues to witness substantial growth, driven by burgeoning construction, agriculture, and industrial sectors. Recent research conducted by industry analysts sheds light on the market's remarkable expansion, underscored by several key trends and statistics.

The report, titled "Global Telehandlers Market: Trends, Analysis, and Forecasts," projects a steady compound annual growth rate (CAGR) of 6.1% during the forecast period. This growth is attributed to several factors, including expanding construction activities worldwide, rising demand for material handling equipment, and technological advancements in telehandler design.

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Telehandlers play a pivotal role in material handling operations across construction, agriculture, mining, and logistics sectors. With the construction industry witnessing a significant upsurge in both residential and commercial projects globally, the demand for telehandlers market is expected to soar. These machines provide enhanced reach, lifting capabilities, and flexibility, making them indispensable in various construction applications. Moreover, the agricultural sector is embracing telehandlers for their ability to handle diverse farming tasks, including loading, lifting, and transporting materials, thereby streamlining farming operations and improving productivity.

The report highlights key global telehandlers market trends, including:

• Technological Advancements: Manufacturers are focusing on integrating advanced technologies such as telematics, IoT (Internet of Things), and automation into telehandlers to enhance operational efficiency, safety features, and overall performance.

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• Rising Adoption of Electric Telehandlers: With an increasing emphasis on sustainability and environmental concerns, there is a growing shift towards electric-powered telehandlers. These machines offer reduced emissions, lower operational costs, and quieter operation, thereby appealing to environmentally conscious consumers. Thus, electric telehandlers market category is projected to gain fastest CAGR over the forecast period (2023 – 2031).

• Market Expansion in Emerging Economies: Emerging economies in Asia-Pacific, Latin America, and Africa are witnessing significant infrastructural developments, leading to a surge in demand for telehandlers. The report identifies these regions as lucrative markets for telehandlers market manufacturers to capitalize on.

• Focus on Rental Services: The trend of renting rather than purchasing telehandlers is gaining traction among small and medium-sized enterprises (SMEs) and construction companies. Rental services offer cost-effective solutions and flexibility in accessing the latest telehandlers market models without significant upfront investments.

Thus, the telehandlers market is witnessing a paradigm shift with the integration of advanced technologies and the rising preference for electric-powered machines. Manufacturers are focusing on product innovation and strategic partnerships to cater to the evolving demands of end-users across various industries.

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Competitive Landscape

The key players in the global telehandlers market are actively engaged in product launches, collaborations, and geographic expansions to gain a competitive edge in the market. A few key participants in the global telehandlers market are listed below:

o AB Volvo
o Caterpillar
o CNH Industrial N.V.
o Doosan Corporation
o HAULOTTE GROUP
o J C Bamford Excavators Ltd.
o Komatsu Ltd.
o L&T Technology Services Limited
o Manitou.com
o Oshkosh Corporation
o Terex Corporation
o Wacker Neuson SE
o Other Market Participants

Global Telehandlers Market Segmentation

Global Telehandlers Market – Type Outlook (Revenue, USD Million, 2015 - 2031)
o Fixed Telehandlers
o Rotating Telehandlers

Global Telehandlers Market – Size/Lifting Capacity Outlook (Revenue, USD Million, 2015 - 2031)
o Small Telehandlers (4,500 to 6,000 pounds)
o Medium telehandlers (10,000 to 20,000-pounds)
o Large telehandlers (>20,000)

Global Telehandlers Market – Propulsion Type Outlook (Revenue, USD Million, 2015 - 2031)
o ICE
o Electric

Global Telehandlers Market – End User Industry Outlook (Revenue, USD Million, 2015 - 2031)
o Construction
o Agriculture
o Mining
o Others

Global Telehandlers Market - Regional Outlook (Revenue, USD Million, 2015 - 2031)
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)

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