Demand for telehandlers is rapidly increasing in the United States, with an expected compound annual growth rate (CAGR) of 5.10% through 2034. This growth trajectory is further facilitated by important government initiatives such as the introduction of the US dollar system. A trillion-scale infrastructure bill will be passed in November 2023, and 40,000 projects will be launched across the country.
NEWARK, Del., April 17, 2024 (Globe Newswire) — The telehandler market is 6,664.4 million USD Evaluation with 2024 11,822,810,000 USD The telehandler market size is expected to grow significantly by 2034. CAGR 5.90% From 2024 to 2034.
Safety is very important in the telehandler industry, and operators typically work in dangerous conditions involving large loads and heights. Manufacturers are constantly developing and integrating advanced safety measures to reduce hazards and increase operator protection. Implementing stability control, load management, and collision avoidance technology can improve stability and avoid accidents. Features such as cameras and sensors further increase safety by increasing operator visibility, reducing the risk of accidents and injuries. These safety improvements not only protect drivers and bystanders, but also help businesses reduce liability and comply with regulations.
Telehandler customizations and special attachments are increasing to meet the different requirements of different applications and sectors. A vast variety of attachments such as jibs, winches, work platforms, and adjustable forks are offered by telehandler manufacturers to meet specific needs and improve machine functionality. Customization allows companies in construction, agriculture, warehousing, and other industries to maximize telehandler performance for specific requirements. In addition to improving operational efficiency, this trend will drive innovation and differentiation for manufacturers to meet a wide range of customer demands and preferences.
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Key points from the telehandler market report
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The global telehandler market size expanded at a CAGR of 2.00% from 2019 to 2023.
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The 30 feet to 60 feet segment will hold 47% of the market share in 2024.
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The 3-6 tonne segment captured 46.20% of the market share in 2024.
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The US market size is projected to increase at a CAGR of 5.10% until 2034.
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The German market size is expected to develop at a CAGR of 4.50% until 2034.
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The market size in Japan is estimated to grow rapidly at a CAGR of 5.60% until 2034.
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The Indian market size is expected to increase at a CAGR of 5.60% till 2034.
“The telehandler industry is rapidly expanding due to expanding infrastructure and growing urban populations. Manufacturers must prioritize safety compliance, innovation, and strategic alliances if they want to remain competitive. It allows businesses to reach a wider audience. Navigating the changing telehandler market landscape requires agility and teamwork.” To tell Nikhil Kaitwade (Vice President, Future Market Insights, Inc.).
competitive environment
Competition in the telehandler market is typified by intense competition between prominent companies vying for market share through technological innovation, creative product development, and tactical alliances. Market leaders with global distribution networks, strong brand recognition and wide product ranges include JCB, Caterpillar and Manitou Group. These companies leverage their established customers and market presence to stay ahead of their competitors while gaining market share.
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recent trends
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In November 2023, Wacker Neuson introduced a new small electric telehandler. The new TH412e telehandler is small and suitable for confined areas.
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In September 2023, JCB announced the new 525-60E electric compact telehandler, part of its fully electric e-tech line.
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In November 2023, Merlo UK unveiled its electric telehandler at Agritechnica 2023 in Hannover, Germany.
market opportunity
Manufacturers have an opportunity to take advantage of the developing regions of Asia Pacific, the Middle East, Africa and Latin America, where rapid urbanization, industrialization and infrastructure growth offer significant revenue growth potential.
By customizing telehandlers to meet the unique needs of renewable energy projects, manufacturers can further increase their market presence and take advantage of new opportunities.
Furthermore, by offering telehandlers with specialized attachments and features tailored to agricultural applications, manufacturers can gain a strong foothold in the agricultural sector.
The expansion of e-commerce and the increasing demand for streamlining warehouse operations are creating lucrative avenues for logistics operations, giving manufacturers the opportunity to expand their offerings and meet the needs of an evolving industry.
key player
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JCB (JC Bamford Excavators Limited)
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Caterpillar Corporation
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manitou group
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Terex Co., Ltd.
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Merlot Spa
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Genie (Telex Co., Ltd.)
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howlot group
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Bobcat Company (Doosan Group)
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Liebherr Group
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Komatsu Co., Ltd.
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market segmentation
Depending on the maximum lift height:
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up to 30 minutes
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30 feet to 60 feet
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60 minutes or more
By ownership:
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rental service
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end use industry
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construction
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agricultural aftermarket
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By region:
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