Heavy-Duty Telehandlers Market Insights and Industry Analysis by Capacity (5 to 10 Ton, 10.1 to 15 Ton, 15 Ton and Above), Application (Construction, Agriculture, Mining), and Region, Competitive Market Size, Share, Trends, and Forecast to 2027
New York, USA, Sept. 15, 2022 (GLOBE NEWSWIRE) -- Heavy-Duty Telehandlers Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Heavy-Duty Telehandlers Market Information by Capacity, Application, and Region - Forecast till 2028”, the market is estimated to grow at a 5.9% CAGR to reach USD 9.38 Billion by 2028.
Telehandlers refer to large, heavy machines that have a hydraulic boom with a length of 5-15 meters as well as an attachment site for various types of lifters such as buckets, forklifts, pallets, winch, and more. They are used in various sectors like construction, mining, and agriculture, which involve handling and shifting heavy goods.
Telehandlers are known for their high maneuverability and ability to carry a significant load per weight. The presence of attachments for a variety of lifts facilitates their extensive use in a vast range of sectors worldwide. Other than this, the renowned companies active in the market are giving efforts and are focusing on technological and structural advancements, which will mean considerable growth in the future.
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
By Capacity, Application, and Region
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
The increasing investments in infrastructure development
Rapid technological and structural advancements in telehandlers will expand its market
The affluent companies in the heavy duty telehandler industry include
J C Bamford Excavators Ltd. (UK)
Heavy duty telehandlers are experiencing significant demand since they have uses in a variety of applications, most of which are highly complex. Consequently, they are popular for their versatility and efficiency qualities, finding applications in several construction activities. The widespread deployment of heavy-duty telehandlers in numerous applications across sectors like commercial, oil and gas, road and bridge, general construction and agriculture will be a major growth promoter of the global industry.
A popular market trend is the surging use of hybrid telehandlers within the construction sector. Thanks to the rising fluctuations in fuel prices, a mounting number of manufacturers are exploring alternatives such as electric telehandlers as well as hybrid telehandlers. The advancing infrastructure industry will have a direct impact on a number of sectors influencing the worldwide economy. The soaring need for better infrastructure raises the demand for heavy duty telehandlers as well, particularly in emerging regions such as the Middle East and Asia Pacific.
Rising investments in construction projects, mining activities and industrial activities will leave a remarkable impact on the heavy-duty telehandlers industry. Experts believe that the development of the construction industry in emerging markets will be at a faster rate than the one in developed regions in the years to come. This should translate into substantial growth prospects for the worldwide market in subsequent years.
Massive funds required for construction projects, mining activities, and industrial activities will be a key challenge for the companies active in the heavy-duty telehandler industry. It is anticipated that the construction industries in emerging countries will face financial restrictions compared to developed countries in the following years. This could mean slowed down market demand in the years to come.
Browse In-depth Market Research Report (100 Pages) on Heavy-Duty Telehandlers https://www.marketresearchfuture.com/reports/heavy-duty-telehandler-market-2452
The COVID-19 outbreak’s significant impact has led to numerous severe repercussions on people’s health status across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. This has affected the construction industry, especially the heavy-duty telehandler market.
The capacity-based segments can be 10.1 to 15 ton, 15.1 and above along with 5 to 10 ton. The telehandlers having the capacity of 5 to 10 ton will enjoy maximum demand in the market, as these are used extensively in material handling and lifting applications.
The application-wise segments are construction, agriculture, mining, and more. The biggest portion of the market is occupied by the construction segment, thanks to the fact that telehandlers are considered to be multifaceted and versatile equipment for use in the construction sector.
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The European market is in the lead, on account of the reputed manufacturers in the region focusing on operator safety along with comfort when using heavy duty telehandlers. They also focus on elevating the productivity rate of telehandlers, which means more focus on extensive research and development activities. Surge in technological advances in heavy duty telehandlers including improved maneuverability and higher in-cab visibility will enhance their demand as well. One tremendous market trend garnering popularity includes the emergence of compact telehandlers that provide better tool carrier credentials in comparison with the traditional ones. The market size in Europe is growing in conjunction with the innovations in the construction industry, which would mean substantial revenue generation in the following years.
The APAC market for heavy duty telehandler will witness decent growth in the years to come, considering their surging use in the thriving agriculture sector. The advancing rental construction equipment space in the region is boosting collaborations and alliances between rental fleet owners as well as construction equipment developers. These types of alliances and collaborations will enhance the expansion rate of the heavy-duty telehandler industry in the years ahead.
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