Telehandlers Market 2023 – 2030 By Product (Large Telehandlers and Compact Telehandlers), Technology (Hybrid Telehandlers and Electric Telehandlers), Application (Residential, Commercial and Infrastructural) and Regions - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Industry : Automation & Process Control | Pages : 180 Pages | Published On : Dec 2023
The Telehandlers Market is projected to reach a value of USD 5,433.9 million in 2022 and is expected to grow to USD 7,821.4 million by 2030. The market is also forecasted to achieve a CAGR of 4.5% during the period from 2023 to 2030.
Telehandlers are specialized equipment used for lifting and transporting heavy materials such as crates, container goods, and other bulky items. Their widespread use in various sectors, including agriculture, construction, and mining, contributes significantly to the market's growth.
Furthermore, the increasing awareness among people regarding the benefits of eco-friendly products, which do not emit carbon and focus on environmentally-friendly services, acts as another driving force positively impacting the market's expansion.
The rapid spread of the COVID-19 pandemic had a significant impact on various sectors, including manufacturing and industrial industries. The increased spread of the pandemic resulted in changes to the growth trajectory of the construction sector, manufacturing industries, and infrastructural projects, negatively affecting them.
The sudden implementation of lockdown measures led to drastic losses in the construction sector, causing considerable setbacks for investors and subsequently impacting the growth of the Telehandlers Market.
Crucial Market drivers
The incorporation of electric engine technology is projected to drive growth in the Telehandlers Market. As people become more aware of carbon emissions, the demand for eco-friendly solutions is increasing, contributing to the expansion of the market share and overall market size. The adoption of electric engine technology in recent times allows for reduced carbon emissions, making it an environmentally friendly option.
Additionally, the rising demand for heavy-weight lifting machinery in the agriculture and mining sectors is also fueling the growth of the Telehandlers Market.
The market growth opportunities
The Telehandlers Market is witnessing a growth opportunity as more people are showing a preference for using its products. The increased awareness about the benefits of Telehandlers Market products has led to reduced labor costs and efficient handling of heavy materials in various sectors, including agriculture, mining, and construction.
The development of the industrial and construction sectors has further fueled the adoption of new technologies, including Telehandlers. Additionally, the growing interest among people in using eco-friendly products has been a key driver for the market's growth.
The market restraints
The primary factor restraining the growth of the Telehandlers Market is the widespread impact of the pandemic. The disruption in the supply chain has resulted in a shortage of raw materials, making it challenging for manufacturing companies to produce the products. Additionally, the high cost efficiency of Telehandlers Market products has been a hindrance to their growth.
Moreover, due to the high-cost efficiency, many people are opting for rental products instead of purchasing, which has also affected the sales of manufacturing companies.
The market challenge
The primary challenge faced by Telehandlers Market manufacturing companies during the pandemic was the difficulty in producing products due to the unavailability of raw materials. The shortage of raw materials posed a significant challenge in maintaining production levels. Additionally, the high-cost efficiency of the products has led to a preference for renting rather than purchasing among customers, including construction projects, further impacting the sales of manufacturing companies.
Cumulative growth analysis
The Telehandlers Market has experienced steady growth in recent times, driven by the expansion of construction and industrial projects worldwide. The adoption of Telehandlers Market products in various sectors, such as construction, mining, and agriculture, has enabled efficient handling of heavy loads. Moreover, the use of Telehandlers Market products helps protect the environment as they incorporate electric motors that do not emit harmful carbon emissions, promoting a cleaner atmosphere.
Value chain analysis
The Telehandlers Market Outlook is expected to show significant growth in the post-pandemic era. However, despite the overall upward trend, certain factors act as constraints on the market's growth. The primary restraining factors are the high cost of the products and the fluctuating prices of raw materials. These factors discourage people from purchasing the products, leading them to prefer renting instead. As a result, manufacturing companies face challenges in boosting their sales productivity.
Telehandlers Market segment overview
- Hybrid telehandlers
- Electric telehandlers
- Non – residential
By lifting heights
- More than 60
- 30’ -60’
- Up to 30’
By product type
- Large telehandlers
- Compact telehandlers
- RentalTop of Form
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- The Middle East and Africa
The Telehandlers Market is experiencing substantial growth recently, mainly driven by advancements in the construction sector. Key players are also contributing to the market's progress by continuously improving their Telehandlers products with technological advancements. The rising demand is compelling manufacturing companies to expand their product offerings in various regions, thereby fostering development in multiple areas.
The Asia Pacific region dominates the Telehandlers Market, driven by significant infrastructure development and construction projects in countries like China, India, and Australia. The region's rapid industrialization is also contributing to its growth.
North America is projected to experience steady growth during the forecast period, primarily due to the presence of major key players in the region. Additionally, the adoption of new technologies in the Telehandlers Market by manufacturing companies is boosting growth in North America.
In Europe, the Telehandlers Market is witnessing an increase in demand, primarily fueled by mining and agricultural activities. The growth in the region is expected to be gradual in the coming years.
- Oshkosh corporation
- CNH industrial
- Linamar corporation
- C. Bamford Excavators limited
- Manitou group
- Liebherr group
- Terex corporation
- Doosan infracore corporation limited
- Wacker Neuson SE
- The Linamar corporation successfully finalized its acquisition of MacDon in 2020, expanding its portfolio to include the design of agricultural harvesting equipment.
- In 2019, CLAAS introduced the SCORPION range, featuring the 960 model with an impressive lifting capacity of 6.5 tons.
Table and Figures
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Covered Key Topics
Market Growth Drivers
Leading Market Players
Company Market Share
Market Size and Growth Rate
Market Trend and Technological