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Telehandlers Market Is Expected To Grow At Nearly 5% CAGR Over 2019-2029: Future Market Insights

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Telehandlers are particularly popular pieces of equipment in Europe, where their versatility and flexibility is taken full advantage of. Furthermore, the telehandlers market is gaining traction in South Asia and East Asia, mainly driven by China and India.

— Telehandlers are extensively used as a utility lifting machine, usually equipped with a telescopic boom that can lift loads, mounted on a four-wheel drive chassis. With varied lifting capacities and lift heights, telehandlers are designed for maintenance applications, construction applications, and material handling at worksites. Steel bodywork, 4-wheel steering, enhanced manoeuvrability, improved productivity, and safety are the key features of telehandlers.

The global market for telehandlers market is expected to experience significant growth in 2019, and reach a market size of over US$ 4 billion, while registering a Y-o-Y growth rate of more than 4%, over that in 2018. Furthermore, the global demand for telehandlers is also expected to be influenced by the rise in the sales of construction equipment in various regions. Strong customer demand for telehandlers by telehandler rental service providers, with improved performance and modest utilisation are anticipated to be experienced.

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Construction Industry in Developing Regional Markets Elevating Market Prospects

The construction sector in India and China is clearly outgrowing other markets, such as the U.S., Germany, and Brazil. This, in turn, is expected to support the growth of the telehandlers market across the globe. Furthermore, customers across many end uses are experiencing the advantages of having telehandlers, subsequently boosting their businesses significantly.

Importantly, the development of compact telehandlers and their increasing popularity on jobsites have replaced compact wheel loaders, forklifts, and skid steers. Consequently, low boom designs and more versatility. These are the cited factors expected to bolster the demand outlook for telehandlers.

Telehandlers Market: Multiple Entrants in Rental Category to Mark Important Trend: Global Industry Analysis 2014-2018 and Opportunity Assessment 2019-2029: https://www.futuremarketinsights.com/reports/telehandlers-market

On the basis of maximum lifting height, the more than 60’ segment is foreseen to experience substantial growth. However, telehandlers with lifting height ranging from 30’ to 60’ are expected to hold a prominent share in the global telehandlers market.

Telehandler sales by rental service providers are expected to observe a growth of more than 4 percent in the coming years, mainly driven by rental customers with the prime purpose to increase the fleet sizes and benefit from the ongoing expanding construction industry.

Developed Regions Leading the Way in New Telehandlers Sales

Manufacturing enterprises of telehandlers in China have begun to flourish in recent years. China is a prominent contributor in terms of construction equipment, with an annual value of over US$ 30 billion. New sales of telehandlers are likely to remain concentrated in regions such as the U.S., Germany, and the U.K.

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The markets in North America and Europe are set to observe modest growth, as these are mature telehandlers markets. China, being at the forefront in the construction equipment market, lags behind Europe and North America in terms of telehandler sales. Moreover, India, along with China, is ascertained to observe hefty growth against the backdrop of a lucrative construction industry and new sales of low-cost telehandlers. Lastly, in Europe, sustainability and environmental issues are the foremost factors that are impacting the new sales of telehandlers.

Some of the key manufacturers involved in the telehandlers market are Genie, Wacker Neuson, J.C. Bamford Excavators Limited, JLG Industries, Inc., Manitou BF, Xtreme Manufacturing, MST construction and agricultural machinery industry and trade., MAGNI TELESCOPIC HANDLERS SRL, Bobcat - Doosan Company, etc.

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Long-Term Outlook: In terms of market value, the global telehandlers market is foreseen to increase at a robust CAGR of around 5%, and is set to create significant opportunities for value chain participants in the telehandlers market during the forecast period.

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Website: https://www.futuremarketinsights.com/reports/telehandlers-market

Source URL: https://marketersmedia.com/telehandlers-market-is-expected-to-grow-at-nearly-5-cagr-over-2019-2029-future-market-insights/88889714

Source: MarketersMedia

Release ID: 88889714

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