Global Telehandler Market Driven by Its Widespread Applications
The analysis of Market Research Future (MRFR) shows that the Telehandler market is slated to register a significant market valuation, grow at an approximate 2.6% CAGR over the review period, and is expected to reach the market volume of 6,684 units by the end of 2020.
Drivers and Restraints
The growth of the telehandler market is anticipated to be driven by its widespread usage in construction and agriculture industries. Telehandler has evolved from conventional landscaping and farming equipment into more advanced construction equipment due to factors such as high load-bearing capacity and 360° movement ability. The ability of the machine to carry out a wide range of tasks in farming and construction industries is the primary factor contributing to the growth of the telehandler market over the review period.
The influential factors such as cash inflows from businesses, equipment utilization, dollar and time utilization, and relatively higher prices are expected to contribute to the growth of the market. in addition to these, telehandlers raise the fuel efficiency and thus, drive the market to an upward trajectory over the review period by increasing the demand. The telehandlers have a more considerable resale value than any other machines such as excavators that are utilised in the construction industry, which is a significant reason for the generation of potential market opportunities for the telehandlers market players over the forecast period. on the other hand, the telehandler requires constant maintenance which has a higher cost for market players, and thus, can pose as a restraining factor for the market over the assessment period.
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Segmental Analysis
The global telehandler market has been segmented on the basis of capacity, application, countries.
Based on the capacity, the market has been segmented into less than 3.1 to 4 tons, 3 tons, and 4.1 to 5 tons. Based on the applications, the market has been segmented into construction, agriculture, mining, and others. Among the applications, the construction sector dominates the marekt over the review period, and is expected to register the largest market share. The agriculture sector follows close behind the construction segment ni terms of market value and is poised to contribute substantially to the demand for telehandlers over the review period. The increasing adoption of telehandlers machinery in the mining and other industrial verticals is expected to create a vast scope o growth opportunities for market players in the foreseeable future.
Regional Analysis
Based on the countries, the telehandler market has been segmented into China (Asia Pacific), Germany (Europe), France, (Europe), the UK (Europe), and eastern European countries.
Germany, a leading telehandler market of Europe, is slated to dominate the market over the forecast period, and register a substantial market valuation. it is estimated to expand owing to the presence of established industries such as construction, plant breeding, and agrochemicals, which are expected to contribute significantly to the demand and adoption of telehandlers in the region, consequently driving the growth of the market over the assessment period.
China, one of the largest markets for telehandlers, from the Asia Pacific region, is anticipated to grow at 2.5% CAGR during the forecast period and record a substantial market share. The China telehandler market is driven by influential factors such as the rapid industrialization in theo country, economic growth, and increased manufacturing activities in the region. These trends are expected to continue over the review period, thus, are expected to provide lucrative opportunities for the growth of the telehandler market over the review period.
Key Market Players
The major market players identified by MRFR in the global telehandler market include Manitou (U.K.), Bobcat Corporate (U.S.), JC Bamford Excavators Ltd. (U.K), Merlo S.p.A (Italy).
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