The global telehandler market is subject to witness a substantial growth due to the substantial investment by industry participants coupled with increasing adoption from industrial sector. Telehandlers are commonly identified as material handling equipment (MHE) with telescopic booms. Increasing adoption of telehandlers to perform complex industrial operation such as lifting specified weights up to specified heights is expected to drive the growth of the market. Globally, the market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the telehandler market.
The market recently saw major industry due to the growing investment by government authorities and private bodies for public & commercial infrastructure, particularly in the developing economies across the globe. Additionally, shifting trend towards rental services of heavy-duty machinery has led to high-end demand for telehandler tools in the past few years. Recent advancement in energy & power sector has led to development of the cost effective solution in the telehandler market.
Increasing demand from residential and commercial sector coupled with robust growth in construction industry has led to the soaring demand for telehandler machinery or equipment. In addition, rapid urbanization and industrialization, majorly in developing economies such as India and China is expected to trigger market growth over the forecast period. Massive funding from local government to cater demands of ever-growing population is predicted to drive market expansion in the upcoming years.
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The market is broadly categorized into three major segments based on the application type such as residential sector, infrastructure sector, and non-residential sector. The non-residential sector is considered as one of the fastest growing segment in the with substantial revenue generation in the last few years. Growing popularity of telehandler in the telehandler segment is attributed to the higher market penetration.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in manufacturing sector, increase in the number of research & development activities in the region and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the telehandler market with massive growth in forecast period. Countries such as India, China, Japan and Singapore are leading the Asia-Pacific market with strong economic growth, increasing number of infrastructural activities, favorable government policies and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the telehandler market are Terex Co., J C Bamford Excavators Ltd., JLG Industries, Inc., Manitou Bf, Ltd., MERLO S.p.A., HAULOTTE GROUP AG, Doosan Infracore Construction Equipment America Co., Bobcat Co., Komatsu Ltd., and AB Volvo.
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