The global market for heavy-duty telehandler 2020 is presumed to achieve a growth rate of 4.5% between 2014 and 2022 (review period), confirms Market Research Future (MRFR).
Growth Boosters and Main Challenges
Heavy duty telehandlers are in high demand as they are used to perform a vast array of complicated tasks. For this reason, they are now hailed as highly versatile and efficient tool carriers that find application almost every kind of construction activity. The rising use of heavy duty telehandlers in several applications like oil and gas, agriculture, commercial, road and bridge and general construction is touted to be a prime growth inducer in the global market.
A popular trend in the market at present is the rising deployment of hybrid telehandlers in the construction industry. Given the surging instability in fuel prices, more and more manufacturers are now compelled to explore new alternatives including electric telehandlers and hybrid telehandlers. Development in the infrastructure sector has a direct influence over multiple sectors that are important for the economy. The growing need for improved infrastructure has boosted the demand for heavy duty telehandlers, especially in developing regions like Asia Pacific and the Middle East.
Colossal funds being spent on construction projects, industrial activities and mining activities have had a significant impact on the market for heavy duty telehandlers. It is projected that the construction sectors within emerging markets can expand at a quicker pace compared to those in developed areas in the following years. This can only mean better growth prospects for heavy duty telehandler market in the upcoming period.
The heavy duty telehandler market segmentation comprises capacity as well as application.
The capacity-dependent market segments are 10.1 to 15 ton, 15.1 and above as well as 5 to 10 ton. The telehandlers with the capacity of 5 to 10 ton observe the most demand in the market, and are extensively used in material handling and lifting applications. These are deployed majorly in construction, mining, agricultural, forestry and industrial industries. Additionally, 5 to 10 ton capacity holding telehandlers are ideal for managing bulky and heavy loads on uneven and rough terrain.
Various applications of heavy duty telehandlers are mining, agriculture, construction, and others. The market’s biggest share is held by the construction segment, since telehandlers are considered to be some of the most resourceful and multifaceted equipment in the construction industry. This equipment is known for facilitating efficient delivery within all the construction process. Apart from this, it helps in unloading materials from the delivery vehicles, transporting materials all across the construction site or placing them at a height.
Region-based market segmentation for heavy duty telehandlers comprises North America, Asia Pacific or APAC, Europe, and the Rest of the World or RoW.
In Europe, leading manufacturers are focused on ensuring operator safety as well as comfort while handling heavy duty telehandlers. They are also working on enhancing the productivity of telehandlers, due to which they are diligently concentrating on research and development activities. Some technological innovations in heavy duty telehandlers include better maneuverability and enhanced in-cab visibility. One obvious trend in the regional market is the growing development of smaller and compact telehandlers that can offer higher tool carrier credentials compared to the traditional ones. The regional market growth is mostly dependent on the advancements in the construction industry, which is estimated to perform incredibly in the approaching years.
Telehandler market in APAC can observe decent demand in the years ahead, thanks to their rising application within the agriculture industry. The thriving rental construction equipment industry in the region has boosted collaborations between rental fleet owners and construction equipment manufacturers. The surge in these kinds of collaborations and partnerships can lead to higher success rate for the heavy duty telehandler market in APAC. Japan, India and China, are touted to be the highest gaining markets for heavy duty telehandlers in the region, because of the hike in infrastructural development and the consistently expanding agriculture sector.
Top companies competing in the market for heavy duty telehandlers are J C Bamford Excavators Ltd. (UK), Oshkosh Corporationn (US), Wacker Neuson Group (Germany), Terex Corporation. (US), Eazi Access (South Africa), DIECI Srl (Italy), HAULOTTE GROUP (France), Caterpillar (US), Linamar Corporation (Canada), Manitou Group (France), to mention a few.
Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.