Rise in adoption of new technologies in the agriculture sector, surge in investment in the infrastructure industry, and use of telehandlers for solid waste management propel the growth of the global telehandlers market.
The global telehandlers industry was estimated at $5.43 billion in 2018, and is expected to hit $7.82 billion by 2026, registering a CAGR of 4.5% from 2019 to 2026.
Drivers, restraints, and opportunities-
Growing adoption of new technologies in the agriculture sector, increased investment in the infrastructure industry, and use of telehandlers for solid waste management as well as in recycling plants fuel the growth of the global telehandlers market. On the other hand, increase in adoption of forklift and surge in prices of raw materials impede the growth to some extent. Nevertheless, rise in incorporation of green logistics solution is expected to create a number of opportunities for the key players in the industry.
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The construction segment to lead the trail by 2026-
Based on end-user, the construction segment accounted for nearly two-fifths of the global telehandlers market share in 2018 and is expected to dominate throughout the forecast period. Utilization of telehandlers for construction activities has reduced significant number of accidents with improving safety performance which fuels the demand for the machines. The agriculture segment, on the other hand, would grow at the fastest CAGR of 5.7% by the end of 2026. Factors such as ease of operation, durability of the equipment, and lightweight nature are predicted to boost the adoption of telehandlers in the agriculture industry.
The Less than 50 ft segment to maintain the lion's share till 2026-
Based on lifting height, the less than 50 ft segment garnered the major share in 2018, holding nearly two-thirds of the global telehandlers market. Rapid urbanization in emerging economies such as India, China, and Africa fuels the demand for small telehandlers. At the same time, the 50 ft and more segment would cite the fastest CAGR of 4.9% during the period, 2019–2026. The expansion of agriculture and construction sector especially in the Asia-Pacific region has driven the growth of the segment.
Asia Pacific, followed by Europe and North America, to dominate in terms of revenue-
Based on geography, the Asia-Pacific region, followed by Europe and North America, contributed to one-third of the global telehandlers market revenue in 2018 and is projected to rule the roost throughout the estimated period. At the same time, this region is anticipated to register the fastest CAGR of 5.5% by 2026. Significant number of ongoing infrastructure and development projects in China and India has heightened the use of telehandlers in the region.
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Frontrunners in the industry-
- Doosan Infracore Co. Ltd.
- Oshkosh Corporation
- Linamar Corporation
- CNH Industrial
- Liebherr Group
- Wacker Neuson SE
- C. Bamford Excavators Ltd.
- Terex Corporation
- Manitou Group
- Caterpillar
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Forklift Truck Market: Global Market Size, Trends, Competitive, Historical & Forecast Analysis, 2020–2030 - The rapidly growing e-commerce industry as well as increasing industrialization have contributed to the growth of the forklift truck market.The Global Forklift Truck Market was valued at USD 44.09 Billion in 2019 and is predicted to reach USD 91.98 Billion by 2030 with a CAGR of 5.8% during the forecast period.
Forklift trucks are powered vehicles used to move or carry heavy objects over a short distance.
On the contrary, high cost of forklift trucks is anticipated to hinder market growth during the forecast period.Access Full Description of this report at:-https://www.nextmsc.com/report/forklift-truck-marketThe major market players of the forklift truck market are Crown Equipment Corporation, EP Equipment, Hangcha, Hyster-Yale Material Handling, Inc., Jungheinrich AG, Kion Group AG, Komatsu Ltd., Lonking Machinery Co., Ltd., Mitsubishi Logisnext Co., Ltd., Toyota Industries Corporation, and others.The forklift truck market is segmented based on power source, class, end use and geography.
Based on geography, the market is segmented into North America, Europe, Asia Pacific and RoW.Recent analysis indicate that North America is leading in the global forklift truck market due to developed infrastructure and increasing industrialization.
However, Asia Pacific region is expected to grow rapidly in terms of market size during the forecast period due to growing need for automation in developing countries.
For instance, in April 2019, JBT Corporation, has announced the launch of a new dual-mode AGV to the market in collaboration with Hyster-Yale Materials Handling.Request sample copy of this report at:-https://www.nextmsc.com/forklift-truck-market/request-sampleAbout Next Move Strategy Consulting:Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share.
