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The industry landscape is being shaped by several noticeable trends taking place within heavy-duty telehandler machines market at present. One main trend is the growing demand for versatile high-capacity telescopic handlers across different sectors. Such industries as construction, agriculture or logistics are starting to recognize the advantages of having such heavy-duty vehicles capable of performing many tasks at once. These machines are equipped with advanced features and robust capabilities that make them indispensable when it comes to lifting or moving objects with heaviness efficiently.
Additionally, there is another major trend within the heavy-duty telehandler machine market concerning introduction of advanced technologies aimed at improving performance plus enhancing operator convenience. For instance, telematics as well as GPS tracking systems and remote monitoring services have been added into some telescopic handlers for better fleet management and real time machine usage checks up on them respectively. Consequently, operational efficiency increases while preventive maintenance contributes to downtime reduction thus increasing overall productivity.
Sustainability has become an important part of heavy duty handlers trends now. The call today though is towards making teleporters that will emit less carbon dioxide than before while being fuel efficient too due to increased environmental consciousness among many people who buy them. For instance, companies are investing in development of environmentally friendly telehandlers that conform to strict emission standards and meet requirements both for regulation and environmentally conscious customers.
The market is also undergoing a transformation towards electrification of heavy-duty telehandler machines. Electric telehanders are becoming popular as alternative to diesel powered conventional models. These devices have several advantages including reduced operational costs, lower carbon footprint and quieter operations. With advancements in battery technology, electric telehandlers have become more feasible for heavy duty applications thereby making the future greener in terms of construction and material handling.
Besides, there is a growing interest in ergonomic design and improved safety features for heavy duty handlers. This has resulted into incorporation of things like better visibility, user-friendly control panels or sophisticated safety systems aimed at enhancing operator comfort or protection respectively on these machinery by manufacturers. Moreover, it helps to improve working conditions for operators as well as prevent accidents through safer environments.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | · The growing awareness of the benefits of telehandler · Increasing applications in end-use industries |
Heavy Duty Telehandler Machines Market Highlights:
Heavy Duty Telehandler Machines Market Overview
The Heavy-Duty Telehandler Market Size was valued at USD 2.45 Billion in 2023. The Heavy-Duty Telehandler industry is projected to grow from USD 2.58 Billion in 2024 to USD 4.17 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.16% during the forecast period (2024 - 2032). In the last few years, the popularity of telehandlers or telescopic handlers has grown exceptionally owing to significant growth in the construction industry. Especially, heavy-duty telehandlers have gained raid momentum and become an ideal choice for heavy-duty tasks not only in the construction sector but also in other sectors such as agriculture, mining, manufacturing, and logistics & transportation. With large-scale projects fueling demand, high-capacity telehandlers are providing users with many solutions for their job sites.
Based on the capacity, the global heavy-duty telehandler market has been segmented into 5 to 10 ton, 10.1 to 15 ton, 15 and above. 5 to 10 ton accounted for the largest share within the market in the 2020 year and is expected to retain its dominance throughout the projected period. However, 15 and above, an extra high-capacity telehandler, is expected to exhibit the fastest growth during the projected period. Based on the application, the market has been bifurcated into construction, agriculture, mining, and others. The construction segment holds the largest share within the market and is expected to retain its dominance throughout the projected period. However, the others segment is expected to exhibit the fastest CAGR growth during the projected period. This can be attributed to the increased adoption of heavy-duty telehandlers among the forestry, oil & gas, manufacturing, transport & logistics, power utilities, and other sectors.
The regions included in this study are North America, Europe, Asia Pacific, and the Rest of the World. Europe accounted for the largest market share in the 2020 year and is expected to retain its dominance throughout the projected period.
GLOBAL HEAVY-DUTY TELEHANDLER MARKET, BY REGION, 2020
Source: Industry Expert, Secondary Research, and MRFR Analysis
COVID-19 Analysis
Telehandlers are commonly used to hoist materials and equipment in the construction and agriculture industries. These devices are mostly employed to transport cargo to and from difficult-to-reach locations in development destinations and distribution facilities. Various firms have taken preventative measures to ensure the welfare and safety of their employees during the COVID-19 epidemic. The outbreak of COVID-19 has had a significant influence on the construction sector, as the pandemic has halted building activities and delayed new construction projects worldwide, reducing the adoption of telehandlers and stifling the growth of the heavy-duty telehandler market. Furthermore, the market's growth has been impeded by a delay in the creation of new telehandlers due to the shutdown of manufacturing activities.
Market Dynamics
The global heavy-duty telehandler market is driven by the growth in the construction industry, increased use in the agriculture sector, and innovations in designs of telehandler operation. Conversely, the higher costs of new emission standard engines are hindering the growth of the market. Interestingly the market offers several opportunities for industry players the scope of growth in the developing nations.
Drivers
- Growth in the construction industry
The growing demand from the construction industry has been instrumental in fueling the overall growth in the telehandler market. Telehandlers are in great demand because of the need for better infrastructure, as they may be used in a wide range of building tasks. The heavy-duty telehandler market has benefited from increased investment in infrastructure construction projects, mining activities, and increased industrial activity. Emerging market construction industries are expected to grow much quicker than advanced economies, propelling the heavy-duty telehandler market. The growing use of telehandlers in a variety of end-user applications, including commercial, agriculture, general construction, road and bridge, and oil and gas, will propel this market forward throughout the projection period.
- Scope in the developing nations
Developing economies like India, China, and Brazil continuously invest in their infrastructure development projects like never before. The development-related projects for transportation, infrastructure, and airports will be driven by fast-developing countries, particularly East Asian economies. In developing countries, this increases demand for compact and durable telehandlers.
Supply Chain Analysis
The global heavy-duty telehandler market value chain involves three stages of value addition at raw material supply, manufacturing, distribution channel before it finally reaches the end users of various industries such as construction, agriculture, etc.
Market Segmentation
The global heavy-duty telehandler market has been segmented based on capacity and application.
Based on capacity, the global market has been segmented into 5 to 10 ton, 10.1 to 15 ton, and 15 ton and above.
Based on application, the global market has been segmented into construction, agriculture, mining, and others.
Regional Analysis
Globally, the heavy-duty telehandler market has been categorized into the North America, Europe, Asia-Pacific, and the Rest of the World. Europe accounted for the largest market share of and is projected to register a 6.1% CAGR over the projected period. Followed by North America market in 2020, projected to register a CAGR of 5.3%.
Europe region to bolster the heavy-duty telehandler market
The European economy recorded a significant annual growth rate in 2020. The European market is sub-segmented into the UK, Germany, France, and the rest of Europe. Being easily applicable in the construction, agriculture, and mining sectors, heavy-duty telehandlers greatly increase the workforce's efficiency and enhance the experience. Furthermore, organizations are increasingly focusing on reducing the cost of accessing global resources to meet the growing industry demands. The adoption of heavy-duty telehandlers is primarily driven by an increasing number of start-ups partnering with telehandler companies. Growing awareness of the benefits of telehandlers coupled with increasing applications scope in end-use industries, including construction, mining, and agriculture, is expected to propel production volumes over the forecast period.
Competitive Landscape
The global market for heavy-duty telehandler has witnessed significant growth over the forecast period due to the growth in construction industry. There are several domestic, regional, and global players operating in the heavy-duty telehandler market who continuously strive to gain a significant share of the overall market. This include Manitou Group, J C Bamford Excavators Ltd, Terex Corporation, Caterpillar Inc., Linamar Corporation, Wacker Neuson Group, Eazi Group, : DIECI S.R.L., Oshkosh Corporation and Haulotte Group.
Among these, MRFR has identified top five key players in the global heavy-duty telehandler market who have contributed to the global market growth.
Key Players
- Oshkosh Corporation (US)
- Caterpillar Inc. (US)
- Manitou Group (France)
- J C Bamford Excavators Ltd. (UK)
- Terex (US)
These players focus on expanding and enhancing their Resolution portfolio and services to remain competitive and increase their customer base. Additionally, these players are focusing on partnerships & collaborations to expand their business and customer base to enhance their market position.
Recent Developments
- In November 2019, Manitou has unveiled its new MHT 12330 heavy-capacity telehandler featuring a 73,000-pound fork capacity and 80,000-pound lift hook capacity. This heavy-hitter is built for handling hefty loads with precision in the most demanding conditions. The unit is powered by a 245 hp Stage 5/Tier IV final Deutz engine and features a maximum lift height of 39 feet 1 inch and a maximum reach of 21 feet 8 inches. It has a three-speed hydrostatic transmission with full wheel four-wheel drive, and the operator can choose all-wheel, crab, or front-wheel steering depending on the job.
Report Overview
This study estimates revenue growth at global, regional, and country levels and offers an overview of the latest developments in each of the sub-sectors from 2019 to 2027. For this analysis, MRFR segmented the global heavy-duty telehandler market report based on Capacity, application, end use and type.
By Capacity
- 5 to 10 Ton
- 1 to 15 Ton
- 15 Ton and Above
By Application
- Construction
- Agriculture
- Mining
- Others
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Rest of the World
- Middle East & Africa
- South America
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