Telehandlers Market trends
The Telehandlers Market is been calculated with a value of USD 5,433.9 million from the year 2018. The Telehandlers Market is also calculated with a value of USD 7,821.4 million by 2026. It is also expected to get a CAGR value of the 4.5% during the Telehandlers Market Forecast period from the year 2022 to 2030.
Rapidly growing mining and construction industries worldwide drive the Telehandlers Market trends. Augmented uptake and demand worldwide are encouraging Telehandlers manufacturers to bring more novelties to their products. They make substantial investments in product developments and advance their existing product lines, increasing the uptake and market sales.
The recent COVID-19 severely hit the Telehandlers industries, causing huge revenue loss in end-use industries across the globe. Several construction activities reached a halt, resulting in minimizing the Telehandlers market demand. On the other hand, high initial costs associated with the telehandler’s purchase and maintenance are major factors estimated to act as a headwind for market growth.
Also, the price volatility and demand-supply gap in raw materials & components required for the production of Telehandlers may deter the market revenue over the forecast period. Nevertheless, rising residential and commercial construction and mining activities would support the market growth during the assessment period.
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Global Telehandlers Market — Segments
The report is segmented into products, technology, applications, and region. The product segment is sub-segmented into large telehandlers and compact telehandlers. Among these, the compact telehandler segment accounts for the largest market share, witnessing vast adoption in the construction industry. The segment is further projected to gain momentum during the review period due to the versatility of compact telehandlers, which makes them popular among manufacturers.
The technology segment is sub-segmented into hybrid telehandlers and electric telehandlers Market Opportunity. The application segment is sub-segmented into residential, commercial, and infrastructural. Among these, the residential segment accounts for the largest market share, heading with the growing population worldwide. This segment is anticipated to experience significant growth during the forecast period.
Global Telehandlers Market — Geographical Analysis
Europe dominates the global telehandlers market, witnessing vast uptake in all-purpose utility machines. Besides, the largest market share attributes to the increasing adoption of telehandlers in the agriculture sector to handle hay, forage and supplies on the wet, boggy ground and harder surfaces. Growing awareness for the telehandler benefits and increasing application scope in end-use industries, including construction, mining, and agriculture, boost the market size.
The Asia Pacific region stands second in the global Telehandlers market. The region attracts large foreign investors with its raw material advantages and the availability of cost-competitive workforces. Resultantly, the APAC has a large number of Telehandlers production plants and, therefore, accounts for one of the largest Telehandler producers. Additionally, the region accounts for the second-largest industrial output and a rapidly growing manufacturing industry worldwide.
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Global Telehandlers Market — Competitive Analysis
Highly competitive, the telehandlers market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, product launch, and expansion.
Major Players:
Players leading the Telehandlers market include Manitou Bf, Ltd. (France), Haulotte Group, Terex Corporation (US), JLG Industries, Inc., J.C. Bamford Excavators Limited (UK), MERLO SPA (Italy), Komatsu Ltd. (Japan), DOOSAN (US), and AB Volvo (Sweden), among others.
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