According to the new research report published by The Insight Partners, titled “Telehandlers Market - Global Analysis and Forecast to 2027”, the global telehandlers market is expected to reach US$ 7,312.8 Mn by 2027, registering a CAGR of 2.41% during the forecast period 2020-2027.
The key companies profiled in the telehandlers market include AB Volvo, Bobcat Company, Caterpillar Inc., CNH Industrial N.V., Haulotte Group, JLG Industries, Inc., Komatsu Ltd., Liebherr Group, Manitou BF, and Terex Corporation. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.
In addition, to comply with government rules and regulations for reducing carbon emission levels, electric-powered telehandlers to ensure zero-emission are now available in the market. Further, the integration of smart technology into existing telehandlers is projected to be a trend offering ample growth opportunities to the manufacturers. Despite the advantages of telehandlers, it is least adopted in the Asian market when compared with European and North American markets. Other machines such as mini cranes are used in Asia for moving loads to the destination. Owing to the use of alternative machines in APAC, the telehandler market in the region is yet to gain pace.
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Key findings of the study:
The telehandlers are gaining traction in globally despite determined technological barriers, as well as the development of electric telehandlers are creating huge opportunities. Continuous developments are taking place in the telehandlers market. Companies present in the market take necessary steps to boost the scope of telehandlers within the booming construction, mining, and agriculture industries. Due to stringent government rules and regulations to lower carbon emission levels, the development of electric telehandlers is taking place. For instance, in April 2019, Faresin introduced a broad range of new All-Electric 626 telehandler at Baum. It is a Li-ion-based telehandler with a lifting capacity of 2,600 kg and 6 m lift height.
The Manitou and Deutz undertook an initiative for introducing electric telehandlers. In October 208, Manitou and Deutz showcased a prototype of an electric telehandler. Both the companies have collaborated to unveil two prototype telehandlers: one a fully electric system machine and another hybrid machine to fulfill the growing demand for such electric equipment. Thus, the introduction of a series of electric telehandlers offers promising opportunities in the future as it enables companies to meet their customers’ expectations and government regulations for zero-emission in the environment, which in turn facilitate the growth of the telehandlers market.
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