Telehandlers Market to Grow at a CAGR of 2.41% to reach US$ 7.31 Billion from 2020 to 2027

The telehandlers market was valued at US$ 6.03 Bn in 2019 and is expected to grow at a CAGR of 2.41% from 2020 to 2027 to reach US$ 7.31 Bn by 2027.

The telehandlers market has witnessed eminent growth in the last couple of years globally. Factors such as increasing mining, agricultural, and infrastructural projects are driving the demand for construction equipment including telehandlers across the world. In addition, the emergence of smart technology and introduction of electric telehandlers.  Apart from the construction industry, the agriculture industry plays an essential role in stimulating the demand for telehandlers in the market. The US, China, India, and Brazil are among the prominent countries indulged in agricultural activities. Telehandler is a mechanical equipment used in diverse industries such as mining, forestry, construction, and agriculture. The use of telehandlers is heavily observed in North American and European markets, whereas in the Asian market, it is not widely adopted. In Asia, other alternative machines such as mini cranes are used. On the contrary, the economic condition of Asian countries continues growing, which could provide the telehandlers providers with a platform to grow their market in untapped emerging economies.

Lucrative Regional Telehandlers Markets

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Market Insights

Growing Mining and Construction Business

Infrastructure-driven growth in countries such as China has resulted in high economic growth and increase in the demand for commodities such as iron ore, coal, manganese, cobalt, and copper. The exploration activities for necessary minerals and metals are vital for the overall growth of the mining industry. In addition, growth of infrastructural projects and development of the urban industry are fueling the demand for construction equipment within the construction industry. On the account of rising infrastructural projects globally, the need for equipment integrated with sophisticated technologies is growing to ensure a higher level of productivity.

Due to factors mentioned above, the telehandlers market is expected to grow.

Impact of Covid-19 on Telehandlers Market:

The 2019-20 COVID-19 (coronavirus) pandemic had a major impact on society, public health, and the economy as a whole. Further, it has also caused chaos to the myriad of industries such as construction, manufacturing, and mining. In an attempt to stop the spread of the virus, several companies are taking steps to ensure the safety and wellness of the employees. Constructional projects have been kept on-hold in the amid of Covid-19 outbreak. Also, manufacturing industries has closed down their facilities due to lockdown. For instance, JLG Industries has suspended production in the US and France, whereas, in China and Romania the facilities are operational with limited workforce. Shutdown or production with low capacity are the major factors which would further impact the concern end user industry like construction for further business, and will eventually the adoption of telehandlers.

Type Insights

Based on type, the telehandlers market is segmented into compact Telehandler, high-lift telehandler, and high-load telehandler. The high-lift telehandler segment captured a dominating share in the global telehandlers market. The growing construction and mining activities globally is demanding the deployment of high lift telehandlers to streamline its overall operations by lifting heavy loads to great heights. These telehandlers are also being used across construction, manufacturing, warehousing, mining, and quarrying.

Propulsion Type Insights

The telehandlers market, by propulsion type, is segmented into hybrid, combustion, and electric. The combustion segment captured a dominating share in the global telehandlers market.  The telehandlers, which uses internal combustion engines, makes use of a variety of fuels such as gasoline, liquid petroleum gas (LPG), diesel fuel, and compressed natural gas.

Lift Capacity Insights

Based on lift capacity, the telehandlers market is segmented into below 3 tons, 3 - 10 tons, and above 10 tons. The 3 - 10 tons segment captured a dominating share in the global telehandlers market. The telehandlers are very much compatible with a wide range of accessories due to the RFID system that automatically recognizes the creation of dynamic load charts to meet the numerous requirements across the manufacturing and construction sector.

Lift Height Insights

The telehandlers market, by lift height, is segmented into below 5 meter, 5 - 15 meter, and above 15 Meter. The 5 – 15meter segment captured a dominating share in the global telehandlers market.  The telehandlers with heights between 5 to 15 meters is designed to offer the highest levels of productivity and performance, along with economical running costs, enviable versatility, world-beating build quality, as well as a wide range of attachments.

Global Telehandlers Market, by End User – 2019 & 2027

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End User Insights

The telehandlers market, by end user, is segmented into construction, agriculture, mining, forestry, and others. The construction segment captured a dominating share in the global telehandlers market. The growing construction industry with rise in development in the healthcare, social, and educational infrastructure globally is demanding telehandlers to lift the loads.

Strategic Insights

Market initiative and new development strategies are commonly adopted by companies to expand their footprint worldwide and meet the growing demand. These strategies are mostly observed in North America and Europe. The players present in the telehandlers market adopt the strategy of expansion and investment in research and development to enlarge customer base across the world, which also permits the players to maintain their brand name globally.

Global Telehandlers Market – By Type

• Compact Telehandler
• High-Lift telehandler
• High-Load telehandler

Global Telehandlers Market – By Propulsion Type

• Hybrid
• Combustion
• Electric

Global Telehandlers Market – By Lift Height

• Below 5 Meter
• 5 - 15 Meter
• Above 15 Meter

Global Telehandlers Market – By Lift Capacity

• Below 3 Tons
• 3 - 10 tons
• Above 10 tons

Global Telehandlers Market – By Equipment Type

• Construction
• Agriculture
• Mining
• Forestry
• Others

Telehandlers Market – By Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe

• Asia Pacific

  • China
  • India
  • Australia
  • South Korea
  • Japan
  • Rest of Asia Pacific

• Middle East & Africa

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa

• South America

  • Brazil
  • Argentina
  • Rest of South America

Company Profiles

• AB Volvo
• Bobcat Company
• Caterpillar Inc.
• CNH Industrial N.V.
• Hauloutte Group
• JLG Industries, Inc.
• Komatsu Ltd.
• Liebherr Group
• Manitou BF
• Terex Corporation