The global telehandlers market accounted at $5,433.9m in 2018, and the market is expected to reach at $7,821.4m by 2026. The compounded annual growth rate (CAGR) at which the market is expected to witness growth is at 4.5% during the forecast period 2019-2026. A telehandler or telescopic handler or teleporter is a machine that is widely used in agricultural and industrial sector. The telescopic cylinder or boom allows telehandler to lift high weights to various height. The telescopic cylinder can move both forward and upward from the vehicle that enabling the vehicle with telehandler to have a 360-degree operation. On the end of the telescopic cylinder, bucket, pallet forks, muck grab etc. can attach according to their specific application. These are the most profitable advantages of using telehandler. Telehandler are majorly used in construction, mining and various special applications such as rib handler and etc.
Technological Advancement in Telehandler is the Key Driving Factor of the Market
Technologically advanced telehandler systems such as electric type or lithium-ion powered, increasing construction work are some key factors that is likely to boost the growth of the telehandler market. In addition, growing e-commerce industries leading to high demand of warehouse that further pulls the market growth rate upward.
Telehandler vehicles are highly used in the agriculture industry. Expansion in trend of the rental equipment in the agricultural sector led to a rise in demand for telehandler in agricultural use in the coming future. Telehandler can work in a wide array of complexity with high load bearing capacity. It also moves 360° resulting in demand for adoption of telehandler in the construction industry. However, telehandler demands a high maintenance cost that can hamper the growth of the global telehandler market. Moreover, growing third party logistic services in the e-commerce sector expected to restrain the demand in the particular segment. Emerging market fueling and rising demand for battery-operated forklifts expected to bring market opportunity for the players of the global telehandler market. On the other hand, some factors such as stringent safety and emission regulations and volatility in the global market is expected to bring challenges for the players of the global telehandler market.
By Region, Asia Pacific is the most lucrative region
The telehandler is divided on the basis of height, end-user, and region. On the basis of height, it is segmented into less than 50 ft and 50 ft & more. By end-user, it is divided into construction, agriculture, mining, heavy industries, and others. Region wise, the Asia-Pacific has gained more market share in the telehandler market in the recent years. Owing to number of ongoing infrastructure and development projects in countries such as China and India. Moreover, the fast-growing economies boost the development-related projects in airports, transportation, infrastructure related sectors. This increases the demand for compact and robust telehandler in Asian countries. For getting a competitive advantage of the market players of these countries keep trying by adopting different strategies such as merger, collaboration, product innovation and development, research and development etc.
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