Global Light Duty Telehandler Market
Market Synopsis:
According to Market Research Future (MRFR)’s latest analysis, the global light duty telehandler market is anticipated to strike a steady CAGR over the forecast period. Telehandlers are widely used in thriving industry verticals such as construction, agriculture, mining, etc. which are anticipated to witness a boom in the foreseeable future. The growth of these end-user industries is prognosticated to aid the proliferation of the light duty telehandler market over the next couple of years.
Telehandlers have evolved from a conventional farming or landscaping equipment to sophisticated construction equipment. It is likely to undergo further innovations in the forthcoming years. Furthermore, it can also be integrated with other equipment and machinery for lowering the production and construction costs. This, in turn, has been forecasted to dominate the growth trajectory of the light duty telehandler market in the years to come.
Light duty telehandlers are expected to be in huge demand across the review period owing to its advantages such as high load bearing capacity, 360 degrees movement, etc. It is likely to accelerate revenue creation for the participants of the light duty telehandler market. Light duty telehandlers are also used for material handling, digging trenches, etc. Also, the sophistication of the equipment is anticipated to generate more applications and uses. This, in turn, is projected to boost the growth trajectory of the light duty telehandler market in the forthcoming years.
The report suggests that the market is anticipated to scale a decent valuation by the end of the projection period. Investments are expected to flow towards end-user industries which are poised to have a positive influence on the growth pattern of the light duty telehandler market across the review period.
Market Segmentation:
By capacity, the global light duty telehandler market has been segmented into up to 3 tons, 3.1 to 4 tons, and 4.1 to 5 tons.
By application, the light duty telehandler market has been segmented into construction, agriculture, mining, and others.
Regional Analysis:
By region, the light duty telehandler market has been segmented into North America, Europe, Asia Pacific and the Rest of the World (RoW). Asia Pacific is expected to hold the pole position in the global marketplace through the assessment period. The flourishing economies of the region such as China and India are projected to drive the demand for light duty telehandler. The accelerated economic activities in the construction sector of the region have been forecasted to augment the light duty telehandler market in the years to come. Also, the growth of the agriculture sector has been poised to catalyze the expansion of the market over the next few years.
Competitive Dashboard:
Some of the major players of the light duty telehandler market profiled in this MRFR report are JCB Ltd. (U.K.), Manitou (U.K.), Merlo (Argentina), Liebherr Machines (Switzerland), Caterpillar Inc. (U.S.), Pettibone Traverse LLC (U.S.), Sennebogen Maschinenfabrik GmbH (Germany), Wacker Neuson (Germany), Skyjack Inc. (U.S.), and Gehl Company (U.S.).
Industry News:
In October 2018, Deutz AG, an internal combustion engine manufacturer, has partnered with Manitou Group, which is a global leader in OEM in rough-terrain handling equipment, for the electrification of construction equipment line, both hybrid and electric system. The partners have completed fitting one of its telehandlers with full-electric drive and other with hybrid one.
In June 2018, Manitou, a heavy equipment manufacturer, has announced the release of MTA Easy 74 range of telehandlers including three 74-horsepower models.
In June 2018, a leading manufacturer and supplier of tracks, tires, and undercarriage component, Midwest Equipment, has announced the acquisition of Nighthawk Machinery known for its quality telehandlers and skid steer holders.