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telehandler market
Advances in telehandler technology, including telematics, improved fuel efficiency, and enhanced safety features, are attracting more users
The telehandler market is experiencing significant growth due to the increasing demand for versatile material handling solutions in construction and infrastructure projects worldwide” - SNS InsiderAUSTIN, TX, UNITED STATES, October 30, 2024 /EINPresswire / -- The Telehandler Market size was valued at USD 5.66 billion in 2023 and is now anticipated to grow to USD 8.56 billion by 2032, displaying a compound annual growth rate (CAGR) of 4.87% during the forecast period 2024-2032.
Telehandlers: Essential Equipment for a Growing Construction Landscape
The telehandler market is poised for remarkable expansion, driven by a significant rise in construction activities across residential, commercial, and industrial sectors. The need for efficient, multi-functional equipment that can navigate constrained spaces and lift heavy loads is critical to meeting the demands of modern construction. Telehandlers combine the capabilities of forklifts and cranes, enabling them to perform various tasks such as lifting, carrying, and transporting materials efficiently on construction sites. This versatility makes them indispensable in modern construction environments, particularly as the global construction industry rebounds, especially in regions experiencing rapid urbanization. However, the telehandler market is fragmented, with approximately 65% of it held by smaller regional manufacturers. This competitive landscape results in price wars and challenges in maintaining profit margins for established companies. Despite these challenges, the ongoing demand for efficient construction solutions positions the telehandler market for sustained growth.
The U.S. construction industry, valued at USD 1.8 trillion, and the global sector, reaching USD 8.9 trillion in 2023, underscore the increasing demand for versatile equipment like telehandlers. In residential construction, telehandlers facilitate tasks such as moving materials to different floors and placing heavy items like windows and roofing components. In commercial projects, they assist in constructing high-rise buildings, shopping complexes, and office spaces, where vertical material movement is critical. Additionally, telehandlers play a vital role in industrial construction, contributing to the development of warehouses, manufacturing plants, and logistics hubs. The surge in large-scale infrastructure projects, particularly in developing regions, amplifies the demand for telehandlers, as governments and private investors invest heavily in these initiatives. Thus, the increasing construction activity across diverse sectors is a key factor driving the growth of the global telehandler market.
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Major The Key Players of Telehandler Market
AB Volvo, Caterpillar Inc., CNH Industrial N.V., HAULOTTE GROUP, J C Bamford Excavators Ltd., Komatsu Ltd., L&T Technology Services Limited, Oshkosh Corporation, Terex Corporation
Segmentation: Dominance of Internal Combustion Engines in the Telehandler Market
By Type: The ICE (Internal Combustion Engine) segment dominated the telehandler market with a share of around 58.7% in 2023. The engine's robust power and torque enable it to manage heavy materials and perform effectively in challenging environments, contributing to its dominance. Internal combustion engines (ICEs) are favored for extended shifts and remote locations where electric charging infrastructure is limited, as they provide a longer operational range and shorter refueling times than electric engines. Furthermore, ICEs present a more economical choice with a lower initial cost compared to electric models, making them a preferred option for contractors.
By Lift Capacity: The 3-10 Ton lift capacity segment held the largest share of around 54.2% in 2023. Its widespread use is largely due to its role in the construction industry, where it greatly improves efficiency and productivity in transporting heavy materials. Its ability to lift and maneuver in tight spaces facilitates the efficient loading and unloading of goods in logistics and warehouse environments. Furthermore, the mining and extraction sectors also benefit from telehandlers, as they can effectively transport materials and equipment across rugged terrains, further driving demand for this type of equipment.
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Key Market Segments
By Product
. Large
. Compact
By Type
. ICE
. Electric
By Lift Capacity
. Less than 3 ton
. 3-10 ton
. More than 10 ton
By End-use
. Construction
. Agriculture
. Manufacturing
. Others
Key Regional Development: North America's Dominance and Asia-Pacific's Rapid Growth
North America currently dominates the telehandler market, holding approximately 36.5% in 2023. This dominance is largely attributed to the region's strong infrastructure and ongoing construction projects that demand efficient and versatile material-handling equipment, such as telehandlers. The construction industry is a vital component of the U.S. economy, boasting over 919,000 construction establishments in operation during the first quarter of 2023.
The Asia-Pacific region is the fastest-growing market, holding approximately 22.5% in 2023. The rapid pace of urbanization and extensive infrastructure development are fueling a strong demand for telehandlers in this region. As countries in the Asia-Pacific continue to expand urban areas and construct new infrastructure, the requirement for efficient material-handling equipment has increased significantly, setting the stage for swift growth in the telehandler market.
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Recent Development
In 2023: JCB has launched two higher-capacity telehandlers, the 4.5-tonne 515-40 and the 6.0-tonne 525-60. These new models are designed for enhanced versatility, catering to both rental and end-user markets. Key features include improved lift heights and advanced safety systems, making them suitable for various applications in construction and agriculture.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
8. Telehandler Market Segmentation, By Product
9. Telehandler Market Segmentation, By Type
10 Market Segmentation, By Lift Capacity
11 Market Segmentation, By End-use
12. Regional Analysis
13. Company Profile
14. Use Cases and Best Practices
15. Conclusion
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