Telehandlers, also known as telescopic handlers, are lifting machinery vehicles that are widely used to lift loads in agriculture, construction, environment, logistics, and mining and quarrying industries. Telehandler is a hybrid of a forklift and a crane, which apart from lifting loads to and fro, can be employed for material handling, personnel elevation, digging trenches, and underground mine baskets. Telehandlers have developed from a conventional landscaping and farming machinery to a much more sophisticated construction equipment. Telehandlers can be utilized to operate a wide array of intricate projects with just a few attachments such as a pallet, bucket, fork, muck grab, and a winch.
Rising demand for technologically advanced systems in construction machinery owing to high rate of productivity is expected to be a key factor that is likely to drive the telehandlers market during the forecast period. Telehandler market are expected to witness healthy demand owing to their widespread application in the agriculture industry. Expansion in the rental construction equipment market has led to a rise in collaboration among construction equipment manufacturers and rental fleet owners due to the expansion of the construction sector. This, in turn, is expected to boost the telehandler market during the forecast period. The construction equipment manufacturing industry is estimated to witness an increase in adoption of the telehandlers due to their ability to help in a wide array of complex task coupled with high load bearing capacity and 360° movement capability. However, rising input cost leads to higher operational cost, which is anticipated be a key factor that is likely to hamper the telehandler market during the forecast period.
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The telehandler market can be segmented based on application, product type, ownership, and region. Based on application, the telehandlers market can be segmented into agriculture, construction, and others. The construction segment accounts for a prominent market share owing to the booming construction sector across the globe, especially in developing countries. Furthermore, the launch of several new projects in developed countries is anticipated to propel the telehandler market during the forecast period.
Based on product type, the telehandler market can be classified into compact telehandler and large telehandler. The large telehandler segment accounts for a major share of the telehandler market, as compared to the compact telehandler segment. Large telehandlers possess several benefits over the other type of telehandlers, which include straight-mast forklift, four-wheel drive option, and others.
In terms of ownership, the telehandler market can be bifurcated into rental and personnel. The rental segment holds a major share of the market owing to the higher initial cost, leading to the rise in operational and maintenance cost. Expansion of the construction industry is expected to boost the rental segment of the telehandler market during the forecast period.
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In terms of geography, the telehandler market can be segmented into Asia Pacific, Europe, North America, Latin America, and Rest of the World. Asia Pacific accounted for a major share of the global telehandlers market due to the expansion of the industrial sector in this region, leading to an increased number of telehandlers in operation. Countries in Asia Pacific, especially China, Japan, and India, are expected to witness an increase in demand for telehandlers owing to increasing infrastructural development. Asia Pacific is followed by Europe, in terms of share of the global telehandlers market.
Key players operating in the global telehandler market include Caterpillar, Liebherr, JLG, J.C. Bamford Excavators Limited, Manitou Group, Haulotte Group, Merlo S.p.A. Industria Metalmeccanica con socio unico, Terex Corporation., Deere & Company, Bobcat Company, Sennebogen, Wacker Neuson SE, AB Volvo, Komatsu Ltd., Pettibone Traverse Lift, LLC, XCMG Group, and Skyjack.
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