Telehandlers Market: Multiple Entrants in Rental Category to Mark Important Trend

Telehandlers Market

Construction Industry in Developing Regional Markets Elevating Market Prospects

The versatility of applications of telehandlers in construction, have made it an essential tool at urban work sites.  With increasing economic stability driving the construction in Asia Pacific, according to the analysts of this report on the global telehandlers market are likely to see increased opportunity in the regional market.

The construction sector in India and China is clearly outgrowing other markets, such as the U.S., Germany, and Brazil.

Sustainable solutions for Urban Work Sites Impacting the Market

The steady expansion of the global telehandlers market has led to manufacturers within the market focusing on product innovations that are efficient, sustainable solutions for urban work sites. End users are placing a premium on not just being cost-effective, but also reducing the total cost of ownership and reducing environment impact. The global demand for tailor made solutions catering to individual requirements of various end use industries has been a driving development in the industry.

The influence of the underlying trend of the use of alternative sources of power and green energy has also had an impact on the telehandlers market, with companies looking at innovation into connected sustainable solutions. Frontrunners in the Telehanders market industry are looking at product innovation using alternative sources of energy to meet the varied requirements of end users. For instance: in 2019, Manitou, a world leader in rough terrain handling has launched the prototype of an electric lightweight telehandler alongside its Oxygen range of products

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Telehandlers are extensively used as a utility lifting machine, usually equipped with a telescopic boom that can lift loads, mounted on a four-wheel drive chassis. With varied lifting capacities and lift heights, telehandlers are designed for maintenance applications, construction applications, and material handling at worksites. Steel bodywork, 4-wheel steering, enhanced manoeuvrability, improved productivity, and safety are the key features of telehandlers.

The global market for telehandlers market is expected to experience significant growth in 2019, and reach a market size of over US$ 4 billion, while registering a Y-o-Y growth rate of more than 4%, over that in 2018. Furthermore, the global demand for telehandlers is also expected to be influenced by the rise in the sales of construction equipment in various regions. Strong customer demand for telehandlers by telehandler rental service providers, with improved performance and modest utilisation are anticipated to be experienced.

Construction Industry in Developing Regional Markets Elevating Market Prospects

The construction sector in India and China is clearly outgrowing other markets, such as the U.S., Germany, and Brazil. This, in turn, is expected to support the growth of the telehandlers market across the globe. Furthermore, customers across many end uses are experiencing the advantages of having telehandlers, subsequently boosting their businesses significantly.

Importantly, the development of compact telehandlers and their increasing popularity on jobsites have replaced compact wheel loaders, forklifts, and skid steers. Consequently, low boom designs and more versatility. These are the cited factors expected to bolster the demand outlook for telehandlers.

  • On the basis of maximum lifting height, the more than 60’ segment is foreseen to experience substantial growth. However, telehandlers with lifting height ranging from 30’ to 60’ are expected to hold a prominent share in the global telehandlers market.

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  • Telehandler sales by rental service providers are expected to observe a growth of more than 4 percent in the coming years, mainly driven by rental customers with the prime purpose to increase the fleet sizes and benefit from the ongoing expanding construction industry.

Developed Regions Leading the Way in New Telehandlers Sales

Manufacturing enterprises of telehandlers in China have begun to flourish in recent years. China is a prominent contributor in terms of construction equipment, with an annual value of over US$ 30 billion. New sales of telehandlers are likely to remain concentrated in regions such as the U.S., Germany, and the U.K.

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The markets in North America and Europe are set to observe modest growth, as these are mature telehandlers markets. China, being at the forefront in the construction equipment market, lags behind Europe and North America in terms of telehandler sales. Moreover, India, along with China, is ascertained to observe hefty growth against the backdrop of a lucrative construction industry and new sales of low-cost telehandlers. Lastly, in Europe, sustainability and environmental issues are the foremost factors that are impacting the new sales of telehandlers.

Some of the key manufacturers involved in the telehandlers market are Genie, Wacker Neuson, J.C. Bamford Excavators Limited, JLG Industries, Inc., Manitou BF, Xtreme Manufacturing, MST construction and agricultural machinery industry and trade., MAGNI TELESCOPIC HANDLERS SRL, Bobcat – Doosan Company, etc.

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