Global Telehandler Market Size By Type (Compact, High Lift), By Technology (Less than 5 meters, 5-15 meters), By Lift Capacity (Less than 3 tons, 3-10tons), By End-User (Construction, Forestry, Agriculture), By Geographic Scope And Forecast

Telehandler Market Size And Forecast

Telehandler Market size was valued at USD 7.7 Billion in 2023 and is projected to reach USD 13.39 Billion by 2031, growing at a CAGR of 7.90% from 2024 to 2031.

• The telehandlers are adaptable lifting equipment meant to perform a variety of jobs in construction, agriculture, and industrial environments. Telehandlers, also known as telescopic handlers, have a telescopic boom that can extend and retract, allowing them to carry and move goods to heights and distances that standard forklifts cannot reach. Their principal applications include lifting and placing big loads, reaching elevated heights, and moving in small spaces, making them indispensable for activities like material handling, lifting building materials, and loading/unloading goods.
• The technological improvements and increase in demand for efficient material handling solutions is upsurging the use of telehandlers. Electric and hybrid telehandlers, advanced automation, and improved telematics are projected to drive market expansion.
• The expansion of infrastructure projects, growth in the construction sector, and increased use of telehandlers in agricultural applications is likely to contribute to market growth. As companies aspire for increased productivity and sustainability, the evolution of telehandlers will play an important part in addressing these expectations by providing improved performance, versatility, and environmental friendliness.

Global Telehandler Market Dynamics

The key market dynamics that are shaping the global telehandler market include

Key Market Drivers

• Growth in the Construction Industry Telehandler market growth is primarily driven by the rising construction industry. According to the United States Census Bureau, the value of building projects in the United States will reach USD 1.792 Trillion in 2022, up 10.2% from 2021. This increase in construction activity directly correlates with increased demand for versatile equipment such as telehandlers.
• Increasing Adoption in Agriculture Telehandlers are becoming more widely used in agriculture due to their versatility. The Food and Agriculture Organization (FAO) predicts that worldwide agricultural production will rise by 69% between 2010 and 2050 to fulfill rising food demand. This expansion is encouraging farmers to invest in efficient technology such as telehandlers to boost output.
• Emphasis on Workplace Safety Telehandlers with enhanced safety features are in high demand due to strict restrictions in the workplace. In 2021, the US Bureau of Labor Statistics reported 5,190 fatal occupational injuries, 976 of which were in the construction industry. This emphasis on reducing workplace accidents is encouraging the use of safer material handling equipment, such as telehandlers.

Key Challenges

• High Initial Cost The high cost of telehandlers, which is driven by advanced technology and capabilities, can be a substantial barrier for small and medium-sized businesses. This initial investment may dissuade prospective buyers, particularly in underdeveloped countries where finance is scarce. Companies must carefully consider the return on investment and operational benefits to justify the expenditure. Furthermore, financing and leasing agreements can assist in alleviating the load, but they frequently have their own set of issues and considerations.
• Operator Training RequirementsProper training is required to operate telehandlers safely and efficiently. The intricacy of these machines necessitates specialist knowledge, which can impede businesses with limited resources. Training programs can be expensive and time-consuming, but keeping personnel up to date on the newest safety standards and operational techniques is essential. Inadequate training can lead to accidents, equipment damage, and decreased productivity, emphasizing the importance of comprehensive and continuous education.
• Safety Concerns Telehandlers pose considerable safety hazards if not used correctly. Tipovers, crashes, and falling loads are all potential hazards. Ensuring the safety of operators and staff necessitates strict attention to safety standards and the use of personal protective equipment. To reduce risks, companies must develop stringent safety measures and conduct regular inspections. The complexity of the equipment and the range of functions it performs can raise the chance of an accident if safety precautions are not strictly observed.

Key Trends

• Electric and Hybrid TelehandlersThere is an increasing trend toward the development of electric and hybrid telehandlers, motivated by the desire to reduce emissions and increase sustainability. These devices have lower operating expenses and a smaller environmental effect than standard diesel-powered machines. As governments and industry push for more environmentally friendly technology, demand for electric and hybrid telehandlers is projected to rise. This shift is consistent with broader trends toward energy efficiency and environmental responsibility in building and industrial operations.
• Advanced Telematics and ConnectivityThe inclusion of advanced telematics and connection technologies in telehandlers improves operating efficiency and data management. These technologies enable real-time monitoring of equipment performance, predictive maintenance, and remote diagnostics. Improved connectivity offers improved fleet management and operational control, resulting in less downtime and higher production. As telematics technology advances, telehandlers will evolve to provide operators and fleet managers with additional insights and control.
• Telehandler Rental Growth The telehandler rental market is growing due to the demand for low-cost solutions and flexible equipment management. Renting telehandlers allows businesses to gain access to modern gear without incurring the high initial expenses associated with ownership. This trend is especially widespread in businesses with shifting project demands, where renting is a more feasible option than purchasing. The expansion of the rental sector is encouraging manufacturers to focus on rental-friendly products and services.

Global Telehandler Market Regional Analysis

Here is a more detailed regional analysis of the global telehandler market

North America

• North America currently holds the dominant position in the telehandler market. North America’s construction and infrastructure sectors are expanding rapidly, resulting in strong demand for telehandlers. According to the US Census Bureau, construction investment in the United States will reach USD 1.94 Trillion in 2022, up 10.2% from the previous year. This increase in construction activity raises the demand for versatile equipment such as telehandlers. The American Rental Association (ARA) forecasts a 3.4% growth in construction and industrial equipment rental income in North America in 2023, topping USD 47 Billion. Furthermore, the $1.2 trillion investment under the United States Infrastructure Investment and Jobs Act over eight years encourages long-term growth in the regional telehandler market.
• North America’s telehandler market benefits from well-established infrastructure and vast distribution networks, which reinforces its global leadership. Telehandlers are widely available, with over 4,000 equipment dealerships in the United States, as reported by the Equipment Dealers Association (EDA), and a 93% rental rate among construction professionals, according to the American Rental Association (ARA). The region’s advanced distribution system facilitates the procurement and rental of telehandlers, resulting in continued market growth and solidifying North America’s dominant position in the sector.

Asia Pacific

• The Asia Pacific region is poised for the fastest growth in the telehandler market. The Asia-Pacific area is seeing considerable growth in telehandler adoption, notably in agriculture, thanks to strong government support for automation. In India, the Sub-Mission on Agricultural Mechanization (SMAM) has committed ₹3,100 crore (about $376 million) for 2021-2022 to develop farm mechanization. China’s 14th Five-Year Plan (2021-2025) emphasizes agricultural development, with a mechanization rate of 71% in 2020, up from 67% in 2018. In 2021, Japan’s agricultural machinery market grew by 5.2% to ¥474 billion (about USD 3.6 Billion), according to the Ministry of Agriculture, Forestry, and Fisheries. These government measures are significantly increasing demand for telehandlers in the region’s agricultural sector, hence driving overall market growth.
• The Asia-Pacific region is experiencing a surge in infrastructure development, which is driving up demand for telehandlers across a variety of construction sectors. The Asian Development Bank (ADB) predicts that Asia will need to invest USD 26 Trillion in infrastructure between 2016 and 2030 to sustain growth, combat poverty, and adapt to climate change. In China, the National Development and Reform Commission (NDRC) has approved 103 fixed-asset investment projects worth 1.48 trillion yuan (about $214 billion) in 2022, with an emphasis on energy, transportation, and high-tech industries. India’s Union Budget for 2023-24 boosted capital investment in infrastructure by 33% to ₹10 lakh crore (about USD 122 Billion). Japan’s Ministry of Land, Infrastructure, Transport, and Tourism reported a 2.5% increase in construction investment to ¥61.8 trillion (about USD 470 Billion) in FY 2021.

Global Telehandler Market Segmentation Analysis

The Global Telehandler Market is Segmented on the basis of Type, Technology, Lift Capacity, End-User, And Geography.

Telehandler Market, By Type

• Compact
• High Lift
• High Load

Based on Type, the market is bifurcated into Compact, High Lift, and High Load. The compact segment is anticipated to dominate the market over the forecast period. This dominance is primarily owing to the rising demand for compact and portable construction machinery heavily dense and difficult locations. Thus, the demand for such machineries is proving successful and functional compared to the heavy and expensive machines.

Telehandler Market, By Technology

• Less than 5 meters
• 5-15 meters
• More than 15 meters

Based on Technology, the market is segmented into Less than 5 meters, 5-15 meters, and more than 15 meters. The category with a reach of less than 5 meters is projected to dominate the market due to its agility in compact locations, which is useful for applications such as agriculture and renovations. The 5-15 meter category is predicted to develop the fastest because of its adaptability, which provides a balance of reach and power for a variety of construction and industrial applications.

Telehandler Market, By Lift Capacity

• Less than 3 tons
• 3-10 tons
• More than 10 tons

Based on Lift Capacity, the market is segmented into Less than 3 tons, 3-10 tons, and More than 10 tons. The segment with a capacity of less than 3 tons is projected to dominate the market due to its affordability and mobility. These little telehandlers are great for restricted locations and light loads, making them popular among rental companies and modest building projects. The 3–10-ton segment is predicted to be the fastest expanding because of its versatility and applicability for a larger range of construction and industrial applications. This mid-range size strikes a nice balance between power and mobility, allowing them to handle a wide range of tasks well.

Telehandler Market, By End-User

• Construction
• Forestry
• Agriculture
• Oil & Gas
• Manufacturing
• Transport & Logistics
• Power Utilities

Based on Application, the market is segmented into Construction, Forestry, Agriculture, Oil &Gas, Manufacturing, Transport & Logistics, and Power Utilities. The construction segment currently dominates the telehandler market. Telehandlers are useful for a wide range of construction tasks due to their versatility in material handling, lifting, and height-reaching capabilities. However, the agriculture segment is predicted to develop the fastest. Mechanization in agriculture, combined with government initiatives in developing countries, is boosting demand for telehandlers to facilitate farm operations and maintenance activities.

Telehandler Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

On the basis of Geography, the Global Telehandler Market is classified into North America, Europe, Asia Pacific, and the Rest of the World. North America now dominates the telehandler market because of its established infrastructure, robust construction activity, and the presence of significant manufacturers. However, Asia Pacific is experiencing the highest expansion, owing to rapid infrastructure development, expanding economies, and government programs boosting agricultural mechanization.

Key Players

The “Global Telehandler Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Manitou Group, JCB, Terex Corporation, Caterpillar, Inc., JLG Industries, Merlo S.p.A., Hyster-Yale Group, Kramer-Werke GmbH, Dieci, Bobcat Company, Haulotte Group, Doosan Corporation, Wacker Neuson SE, Liebherr Group, Zoomlion Heavy Industry Science and Technology Co., Ltd., Tadano Ltd., Genie Industries, AUSA, S.Coop., Atlas Maschinen GmbH, Magni Telescopic Handlers S.r.l., and Snorkel Lifts. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Telehandler Market Recent Developments

• In February 2024, Doosan Bobcat will deploy its first electric forklift powered by hydrogen fuel cells. The company intends to make 30 of these new forklifts operational by the end of 2024. The Doosan Hydrogen B35X-7P is essentially a 3-ton Bobcat electric forklift retrofitted with a 20-kW fuel cell rather than a battery, and it is scheduled for delivery to the Korea Zinc Onsan refinery in Ulsan, Korea.
• In November 2023, Merlo UK will debut its electric telehandler at the Agritechnica 2023 show in Hannover, Germany.
• In March 2022, Manitou Group launched an ultra-compact telehandler model that is both productive and user-friendly. The new model includes a number of purpose-designed attachments that greatly broaden its application, giving consumers a wider range of options.

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Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factorsProvision of market value (USD Billion) data for each segment and sub-segmentIndicates the region and segment that is expected to witness the fastest growth as well as to dominate the marketAnalysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each regionCompetitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiledExtensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market playersThe current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regionsIncludes an in-depth analysis of the market of various perspectives through Porter’s five forces analysisProvides insight into the market through Value ChainMarket dynamics scenario, along with growth opportunities of the market in the years to come6-month post-sales analyst support

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