Global Telehandlers Market Report 2024 – Market Size, Trends and Global Forecast 2024-2033
Global Telehandlers Market Report 2024 by The Business Research Company – Market Size, Trends and Global Forecast 2024-2033
— The economic research company
LONDON, GREATER LONDON, UK, August 9, 2024 /EINPresswire.com/ — The Telehandlers market has witnessed strong growth in the past few years, increasing from $3.72 billion in 2023 to $4.07 billion by 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth during the historical period is attributed to military conflicts, naval modernization, submarine proliferation, defense budgets, national security concerns, and awareness of underwater threats.
Strong future growth expected
The telehandler market is expected to continue to grow strongly and reach a value of USD 5.6 billion in 2028, growing at a compound annual growth rate (CAGR) of 8.3%. The growth during the forecast period is attributed to global security challenges, unmanned underwater systems, naval modernization plans, environmental aspects, and Arctic security.
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Growth drivers of the telehandler market
The growing construction industry is expected to drive the growth of the telehandler market. The construction industry refers to the sector of manufacturing and trading that deals with the construction, maintenance, and repair of infrastructure. In the construction industry, telehandlers are used to lift and move heavy loads of building materials such as steel beams, bricks, and concrete blocks to great heights and distances.
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Key players and market trends
Major players in the telehandler market include Caterpillar Inc., JC Bamford Excavators Ltd., JLG Industries Inc., Terex Corporation, Manitou Group and Wacker Neuson SE.
Technological advancements are a major trend that is gaining popularity in the telehandler market. Major companies in the telehandler market are betting on new innovative products to maintain their position in the market.
Segments:
1) By power source: electric, fuel, hybrid
2) By lifting height: Less than 20 feet, 20 feet to 50 feet, 50 feet to 70 feet, over 70 feet
3) By end-user industry: construction, utilities, logistics and transport, other end-users
Geographical insights: Asia-Pacific is the market leader
Asia Pacific was the largest region in the Telehandlers market in 2023. The regions covered in the Telehandlers market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Telehandler market definition
A telehandler is a versatile material handling device that combines the capabilities of a forklift and a crane. It is equipped with a telescopic boom that can be extended and retracted to reach high places or long distances. It is used in construction, agriculture, landscaping and mining.
The Business Research Company’s global Telehandlers Market report 2024 covers the following information:
• Market size data for the forecast period: Historical and future
• Market analysis by regions: Asia Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and much more.
Global Telehandlers Market Report 2024 by The Business Research Company is the most comprehensive report which offers insights into the Telehandlers market size, Telehandlers market drivers and trends, major key players in the Telehandlers market, Telehandlers competitors’ revenues, Telehandlers market positioning and Telehandlers market growth across different regions. The Telehandlers market report helps you gain detailed insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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