The global heavy-duty telehandler market is expected to register at least a decent CAGR for the time period that this report covers. The market was worth USD 5.87 billion in 2020. Telehandlers are popular because they are able to lift and transport heavy objects long distances.
Heavy-duty telehandlers are huge machines with a hydraulic meter between 5 and 15 meters. They have a site where different accessories like forklifts, buckets, winches, and pallets can be attached for more efficiency and productivity.
The machines are used extensively in construction, agriculture, and mining. Workers have to lift and transport heavy and bulky goods and items long distances in these industries. The heavy-duty telehandler market is expected to register a CAGR of 5.5% for the time period that the report covers.
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Market opportunities
Since the global agriculture sector is rapidly modernizing, there is a great incentive for heavy-duty telehandler manufacturers to develop and market machines that are more sophisticated and technologically advanced than previous generations.
Segment overview
By capacity
This segment can be broken down accordingly:
- 5 to 10 tons
- 1 to 15 tons
- One ton and above
The 5 to 10-ton sub-segment has the greatest market share. They may be smaller than their predecessors but they are able to lift and transport far larger quantities of heavier objects simultaneously than previous generations were.
They can be used for a variety of activities in more industries because they’re versatile and affordable.
By lift height
This segment can be broken down accordingly:
- Less than 5 meters
- 5 to 15 meters
- More than 15 meters
The more than 15 meters sub-segment currently has the greatest market share. They are great for use when building tall high-rise buildings and skyscrapers.
By application
This segment can be broken down accordingly:
- Construction
- Mining
- Agriculture
- Others
Telehandlers are used the most in the construction sector, hence, this industry has the largest market share. They are affordable and have a high ROI.
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Regional analysis
The global heavy-duty telehandlers market can be grouped into the following regions:
- North America
- The European Union
- Asia-Pacific
- The Rest of the World
The North American region consists of the United States of America and Canada. The European Union consists of the United Kingdom, Germany, France, Italy, Spain, and the rest of Europe. The Asia-Pacific region consists of China, India, Japan, Oceana, and the rest of the Asia-Pacific region. The rest of the world consists of the Middle East, Africa, and South America.
The European Union has the largest market for heavy-duty telehandlers. The agricultural industry is highly modernized and automated, This creates heavy demand for telehandlers for the lifting and transport of heavy objects long distances.
The mining and agriculture industries are robust in North America. This is why this region has the world’s second-largest heavy-duty telehandler market share. Agriculture is a corporation based and many larger farmers have the money to spend on this type of equipment.
The Asia-Pacific region is registering the highest CAGR. the reason is that construction activity is taking off in this region thanks to rapid industrialization and modernization/urbanization. The agricultural sector is also modernizing rapidly.
The Middle East has a rapidly growing construction industry. This is contributing to respectable growth in the region. Latin America and Africa are expected to register modest CAGRs respectively for the time period that this report covers.
Industry news
JCB recently launched a new product line. This is in line with recent trends for companies in the heavy-duty telehandler market. These companies have been investing heavily in research and development in the attempt to develop and market a new generation of environmentally friendly and technologially advanced products.
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