Telehandlers have evolved from basic farming and landscaping machinery to far more advanced construction technology. Manufacturers of telehandlers make significant R&D investments in order to create and implement updates to their product lines. According to a recent analysis by Future Market Insights (FMI), the use of telehandlers in the material handling industry is boosting global sales due to its adaptability and safe technology.
Telehandlers are expected to be the first pieces of equipment that may be placed at operation sites for material handling without prior ground preparation due to the versatile qualities that enable them to execute the functions of cranes, loaders, and access equipment in a variety of industries.
While the US and European countries have been the early adopters of telehandlers, future growth will be reliant on demand from China, India, Brazil, GCC, and countries where mega projects are coming up.
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Tech-driven performance and dependence in tandem with a total cost of ownership (TCO) possess the better value of money over the long run.
End-users, seeking customized solutions at slightly higher prices, will find value addition in telehandlers as overall machine expense and its utilization in projects will justify customers’ initial investment in the machinery.
Key Takeaways of Telehandlers Market Study
- Worldwide sales of telehandlers to surpass US$ 6 Billion in 2030
- Manufacturers to reap substantial gains from telehandlers having maximum lift height of 30′-60′
- ‘Electrification’ and ‘lightweight’ to emerge as disruptive forces in the global market
- The US and Europe remain the most lucrative markets
“Telehandlers are equipped with an array of attachments including, jib and crane, pallet fork, tire handlers, and re-handling multi-purpose buckets, and these attachments are transforming continuously as the cab continues to explore potential application avenues,” says analyst at FMI.
COVID-19 Impact on Telehandlers Market
The COVID-19 pandemic has had immediate repercussions on the global economic order and that effect goes across every industry, including construction. Worldwide construction growth has slumped to 0.5% CAGR from the expected 3.1% for 2022.
Constructional projects have been delayed, and manufacturing operations have been ceased due to nationwide lockdowns amid the COVID-19 crisis. With steep drop in operations in construction and manufacturing sites, demand for telehandlers has been severely affected.
Telehandlers Market – Competitive Intelligence
The global telehandlers market is highly consolidated with prominent players capturing about two-fifths of overall market value. Manufacturers are developing telehandlers armed with new features in an effort to lock in customers and achieve economies of scale. For instance,
- JCB has rolled out its new telehandlers – Hydraload 555-210R – with rotating telescopic handlers. The machine comes with a maximum lifting height of 20.5 m and a maximum lift capacity of 5.5 tons
- Xtreme Manufacturing has introduced telehandlers that exhibit a 17,000-pound capacity. The telehandlers are armed with the company’s novel modular cab design that allows them to be simply switched from open to enclosed, or vice versa, with optional gear. This offers customers enhanced flexibility while running telehandlers in several environments
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To Know More About Telehandlers Market:
A new market research report published by Future Market Insights (FMI) on the global telehandlers market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2022-2030. The report examines the telehandlers market through three different segments – maximum lift height, ownership, and region.
The telehandlers market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of telehandlers and product adoption across several end-use industries.
Global Telehandlers Market By Category
By Maximum Lift Height :
- Upto 30’
- 30’ – 60’
- More than 60’
By Ownership :
- Rental Services
- End Use Industries
- Construction
- Agriculture Aftermarket
By Region :
- North America
- Latin America
- Europe
- South Asia
- East Asia
- MEA
- Oceania
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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