The global telehandlers market is projected to reach US$ 11,822.81 million by 2034, according to a report by Future Market Insights (FMI). This significant growth reflects a Compound Annual Growth Rate (CAGR) of 5.9%.
The increasing demand for telehandlers is primarily driven by their remarkable versatility. These multi-functional machines are becoming indispensable assets across various industries, including construction, infrastructure development, manufacturing, mineral processing, and mining.
Telehandlers offer a distinct advantage due to their ability to handle a wide range of attachments and perform diverse tasks. This adaptability translates to enhanced operational efficiency for businesses. By eliminating the need for multiple specialized machines, telehandlers can streamline operations and ultimately reduce costs. The rising demand within the construction and manufacturing sectors, coupled with the inherent benefits of telehandlers, is expected to propel market growth in the coming years.
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Telehandlers have developed from a conventional landscaping and farming machinery to a much more sophisticated construction equipment. Telehandlers manufacturers invest heavily in R&D to develop and incorporate changes in their product line.
While the US and European countries have been the early adopters of telehandlers, future growth will be reliant on demand from China, India, Brazil, GCC, and countries where mega projects are coming up.
Given their multipurpose features that enables them to perform the tasks of cranes, loaders, and access equipment in several industries, telehandlers are set to be the first machinery that can be deployed at operation sites for material handling without prior ground preparation.
Tech-driven performance and dependence in tandem with total cost of ownership (TCO) possess better value of money over long run.
End-users, seeking customized solutions at slightly higher price, will find value addition in telehandlers as overall machine expense and its utilization in projects will justify customers’ initial investment in the machinery.
Key Takeaways of Telehandlers Market Study:
- Worldwide sales of telehandlers to surpass US$ 11,822.81 million in 2034.
- Manufacturers to reap substantial gains from telehandlers having maximum lift height of 30′-60′.
- ‘Electrification’ and ‘lightweighting’ to emerge as disruptive forces in global market.
- The US and Europe remain the most lucrative markets.
“Telehandlers are equipped with an array of attachments including, jib and crane, pallet fork, tire handlers, and re-handling multi-purpose buckets, and these attachments are transforming continuously as the cab continues to explore potential application avenues,” says analyst at FMI.
Telehandlers Market – Competitive Intelligence:
Top Key Players covered in the report:
Danfoss, Terex Corporation (Genie), Haulotte Group, Oshkosh Corporation (JLG Industries, Inc.), Linamar Corporation, Manitou BF, J C Bamford Excavators Ltd., MAGNI Telescopic Handlers Srl, Doosan Bobcat, CLAAS KGaA mbH, Wacker Neuson SE, Xtreme Manufacturing Llc
The global telehandlers market is highly consolidated with prominent players capturing about two-fifths of overall market value. Manufacturers are developing telehandlers armed with new features in an effort to lock in customers and achieve economies of scale. For instance,
JCB has rolled out its new telehandlers – Hydraload 555-210R – with rotating telescopic handler. The machine comes with maximum lifting height of 20.5 m and maximum lift capacity of 5.5 tons
Xtreme Manufacturing has introduced telehandlers that exhibit 17,000-pound capacity. The telehandlers are armed with the company’s novel modular cab design that allows them to be simply switched from open to enclosed, or vice versa, with an optional gear. This offers customers with enhanced flexibility while running telehandlers in several environments
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Market Segments:
By Maximum Lift Height:
- Upto 30’
- 30’ – 60’
- More than 60’
By Ownership:
- Rental Services
- End Use Industries
- Construction
- Agriculture Aftermarket
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- MEA
- Oceania
Read More: https://www.futuremarketinsights.com/reports/telehandlers-market
