(MENAFN- GlobeNewsWire - Nasdaq) Westford, USA, Nov. 22, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Telehandler market will attain a value of USD 12.24 billion by 2031, with a CAGR of 7.1% over the forecast period (2024-2031). Growing investments in infrastructure development around the world and rapid industrialization are predicted to be the key market drivers for telehandler companies in the future. The development of battery-powered telehandlers is projected to be a key trend offering new opportunities for market players in the long run. Download a detailed overview:
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Telehandler Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 7.07 billion |
| Estimated Value by 2031 | $ 12.24 billion |
| Growth Rate | Poised to grow at a CAGR of 7.1% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information/product portfolio of players |
| Key Market Opportunities | Development of battery-powered telehandlers |
| Key Market Drivers | Rising infrastructure development activity around the world |
Compact Telehandlers Estimated to Account for a Prominent Chunk of the Global Market Share
Easy maneuverability in tight spaces and high versatility in compact urban environments allows compact telehandlers to lead the global demand outlook. Growing construction activity in urban environments and rising emphasis of organizations on improving operational efficiency are expected to help this segment maintain its dominant market share across the study period.
Demand for Telehandlers in Agricultural Applications is Projected to Rise at a Notable CAGR
Rapidly increasing global population and the need to satisfy the hunger of this increasing population have boosted agricultural activity around the world. Rising emphasis on improving efficiency in agricultural operations to maximize food production and growing adoption of smart and precision agriculture practices are also expected to further bolster the demand for telehandlers in this segment through 2031 and beyond.
North America is Forecasted to Account for a Significant Share of Global Telehandler Sales
The presence of key telehandler providers and growing use of telehandlers in multiple industry verticals has allowed North America to emerge as a leader in this market. Growing residential and commercial construction activities, rising demand for efficient material handling, and investments in R&D of novel technologies to improve safety and efficiency of telehandlers are all expected to help this region maintain its dominance. The United States is slated to be the most opportune market for telehandler companies operating in North America.
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Telehandler Market Insights:
Drivers
Growing infrastructure development activity Rising use of telehandlers in multiple industry verticals
Restraints
High initial investments for acquisition Dearth of specialized operators and skilled technicians for maintenance
Prominent Players in Telehandler Market
The following are the Top Telehandler Companies
JLG Industries (US) Caterpillar Inc. (US) Terex Corporation (US) Manitou Group (France) Haulotte Group (France) CNH Industrial N.V. (UK) Wacker Neuson SE (Germany) Liebherr Group (Switzerland) Bobcat Company (US) Doosan Corporation (South Korea)
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Key Questions Answered in Telehandler Market Report
What drives the global Telehandler market growth?
Who are the leading Telehandler providers in the world?
Which region leads the demand for Telehandler in the world?
This report provides the following insights:
Analysis of key drivers (growing investments in infrastructure development, rising application scope of telehandlers in different industry verticals), restraints (high costs of acquisition, dearth of skilled professionals to operate), and opportunities (development of battery-powered telehandlers) influencing the growth of Telehandler market. Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Telehandler market. Market Development: Detailed analysis of potential regions where the market has potential to grow. Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets. Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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Mr. Jagraj Singh
Skyquest Technology
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USA (+1) 351-333-4748
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