ID: MRFR/CO/1819-CR | June 2019 | Region: Global | 93 pages
Impact of COVID-19 on the Heavy-Duty Telehandler Market
Telehandlers are widely used in the construction and agriculture industries to lift materials and equipment. These machines are used mainly in development destinations and distribution centers to move loads to and from difficult-to-reach places. During the COVID-19 pandemic, various companies have taken preventive measures to ensure the wellness and safety of their employees. The construction industry has been impacted drastically due to the outbreak of COVID-19, as the pandemic has halted construction activities and delayed new construction projects across the world, which has reduced the adoption of telehandlers, and thus has hindered the growth of the heavy-duty telehandlers market. Besides, the slowdown in the production of new telehandlers owing to the shutdown of manufacturing operations has also hampered the growth of the market. The COVID-19 pandemic has significantly affected various other industries apart from the agriculture industry. The disruptions in agriculture supply chains have posed a challenge in terms of food security. The volume of agricultural produce is generating the need for heavy-duty telehandlers, which is currently sustaining the growth of the market during the pandemic. The shortage of laborers is expected to disrupt the production and processing of food, which is expected to lower the demand for telehandlers.
Annual turnover of the construction industry in the European Union from 2014 to 2019 (EUR Million)