Heavy Duty Telehandler Market is projected to be worth USD 10,499.63 Million by 2030, registering a CAGR of 5.58% during the forecast period (2022 - 2030).
The heavy-duty telehandler or telescopic handler is witnessing a significant rise in demand for various purposes. The global heavy-duty telehandler market was valued at USD 5.87 billion in 2020. The versatile nature of telehandlers for performing both high-rise lifting and lateral transportation makes it one of the most popular construction machines.Heavy Duty Telehandler Market is projected to be worth USD 10,499.63 Million by 2030, registering a CAGR of 5.58% during the forecast period (2022 - 2030).
Telehandlers are heavy machines generally having a hydraulic boom length of 5-15 meters and attachment site for different types of lifters like a forklift, buckets, winch, pallets, etc. They are useful for construction, agriculture, and mining industries involving handling and moving heavy goods.
Telehandlers have greater maneuverability and high load per weight carrying ability. The availability of attachments of different kinds of lifts enables their use in a wide range of industries. Moreover, the key global companies are putting great efforts into the structural and technological advancements in this machine category which will benefit the market.
Covid-19 pandemic hurt the Global heavy-duty telehandler market badly. The poor performance of major end-user industries like construction and mining led to a decrease in demand for these machines. Moreover, restrictions in travel and the movement of goods hampered the market growth directly. Production of telehandlers was temporarily down during the period due to the closure of production units to curb the virus spread. However, the demand for agricultural variants continued to grow over the period too. The market is showing a quick recovery after the relaxation of restriction measures in the construction and mining industry globally.
The major global companies playing a key role in the heavy-duty Telehandlers market are :
The increasing investments in infrastructure development and modernization of the agricultural sector are driving the growth of the global heavy-duty telehandler market. Telehandlers are increasingly being used in the construction of medium-height buildings for lifting and moving heavy construction materials. They are more versatile than cranes as they not only perform lifting operations but can also aid in the horizontal movement of goods. Similarly, these machines are finding application in the mining industry for their greater maneuverability and good load-bearing capacity.
Telehandlers are emerging as a necessary machine in modern agriculture farms. Their compact size and availability of attachment sites for different kinds of lifts make them suitable for assisting in different agricultural activities. Moreover, rapid technological and structural advancements in telehandlers will expand its market in other various industries too.
Heavy Duty telehandlers, also known as telescopic handlers or zoom booms, are lifting machines that find use in construction, industrial and agricultural operations. It has a forklift for lifting purposes but in a large telescopic boom distinguishing it from both a crane and a forklift. Telehandlers have higher efficiency due to the dual capability of forwarding and upward movement. Moreover, the booms also allow the attachment of different lifters such as buckets, winch, pallets, forks, etc.
Telehandlers find use in different activities like material handling and elevated positioning. In farms, heavy-duty telehandlers are used for lifting bales, hay stacking, moving products, etc. These machines also find great use in the construction and mining industry. They are more economical and versatile than cranes and overcome the limits of forklifts due to the presence of a long hydraulic boom.
The specific objectives of this market report are given below:
The 5 to 10 ton capacity of telehandlers dominates the global market. These telescopic handlers have a compact size and higher load per bodyweight carrying capacity ratio. Therefore, these features make telehandlers of this category suitable for application in a wide range of activities. They are also more popular due to their affordability and greater benefits to cost ratio.
The more than 15 meters segment accounts for most of the demands. This height is ideal for different construction activities involving high-rise structures. This height also enables telehandlers to load and unload from high-height trucks.
The construction industry occupies the major market share owing to greater demand in construction activities for lifting and moving heavy objects. Heavy-duty telehandlers are cost-effective and versatile machines capable of various works in construction activities. These machines are most useful in the construction of medium-height buildings where keeping cranes is not viable. Telehandlers can load and unload goods from high-sized trucks also which increases their popularity in construction sites.
The different regional markets for the global heavy-duty Telehandlers market are:
Europe is the largest regional market for telehandlers. The modern agriculture industry generates high demand for telehandlers in this region. Moreover, the greater presence of Global telehandler manufacturing companies ensures price optimization and better after-sale services. Furthermore, active research backup from different research institutes for constant developments is also helping the market to expand significantly here.
North America is the second-largest market for the Global heavy-duty telehandlers market. The mining and agricultural industry accounts for most of the demand in this region. The high disposable income of farmers leads to greater demand. Moreover, the use of telehandlers for snow clearing is also contributing to the market growth.
Asia-Pacific is the fastest-growing regional market segment. The rapidly growing construction industry is a major demand generator for telehandlers in this region. Moreover, the greater emphasis on modernization of the agriculture sector by countries such as China, India, Indonesia, Japan, and Korea is helping the market to expand significantly. The Middle East is also witnessing significant demand for telehandlers in the construction industry which is contributing to the market growth in this region. the Latin America and the African segment is expected to grow at a moderate rate over the forecast period.
This report will be beneficial for every stakeholder of the heavy-duty Telehandlers market such as :
This report from Market Research Future provides an in-depth analysis of the heavy-duty Telehandlers market in terms of current value and future forecast. This report has also highlighted the problems and prospects of the given market.
Moreover, the technological analysis section of the report will help in better knowing the product and its market prospects. Furthermore, this report contains a detailed analysis of every segment of the given market for the current forecast period. This report has also highlighted the key players and the current developments in the heavy-duty Telehandlers market.
|Market Size||2030: USD 10,499.63 Million|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Capacity and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Manitou Group (France), J C Bamford Excavators Ltd. (UK), Terex Corporation. (US), Caterpillar (US), Linamar Corporation (Canada), Eazi Access (South Africa), Wacker Neuson Group (Germany), HAULOTTE GROUP (France), DIECI Srl (Italy), Oshkosh Corporationn (US)|
|Key Market Opportunities||· The growing awareness of the benefits of telehandler · Increasing applications in end-use industries|
|Key Market Drivers||The growing construction industry|
Heavy duty telehandlers are diversified lifting tools used in the construction and agriculture industries, among others.
The global heavy duty telehandlers market is expected to exhibit a strong 5.58% CAGR over the forecast period till 2030.
The growing construction industry is the major driver for the heavy duty telehandlers market.
Europe is likely to dominate the global heavy duty telehandlers market over the forecast period.
Leading players in the global heavy duty telehandlers market include Manitou Group, JCB, and Caterpillar, among others.