DUBLIN--(BUSINESS WIRE)--The "Telehandlers Market to 2027 - Global Analysis and Forecasts by Type; Propulsion Type; Lift Height; Lift Capacity; End-user" report has been added to ResearchAndMarkets.com's offering.
The global telehandlers market was valued at US$ 6,106.4 million in 2019 and is expected to grow at a CAGR of 2.41% during 2020-2027 to account for US$ 7,312.8 million by 2027.
The growth of infrastructural projects and development of the urban industry are fueling the demand for construction equipment within the construction industry. On the account of rising infrastructural projects globally, the need for equipment integrated with sophisticated technologies is growing to ensure a higher level of productivity. Developing countries, such as China and India, are witnessing an upsurge in their construction industry owing to rising disposable incomes, government support, and high economic development rate.
Apart from the construction industry, the agriculture industry plays an essential role in stimulating the demand for telehandlers in the market. The US, China, India, and Brazil are among the prominent countries indulged in agricultural activities. In India, agricultural activities are the major source of livelihood because of diverse agro-climatic conditions and vast agricultural land that motivate the cultivation of different crops, and therefore, the demand for advanced machinery for agricultural activities is high. In the agriculture industry, the common applications of telehandler are bucket grab, moving loads to/from places that are inaccessible for a conventional machine. Telehandlers have the potential to reach into the high-sided trailer directly. Owing to the role played by telehandlers in the agriculture industry, its demand is likely to propel.
The presence of fast-growing countries, rising technology adoption, development of electric telehandlers, and booming agricultural activities are among the major factors that are expected to drive the growth of telehandlers in APAC. Other developing regions such as MEA and SAM are also projected to grow at a steady pace owing to the increasing government initiatives to further enhance the economy of the region with the adoption of advanced technologies across various industries.
Reasons to Buy:
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the telehandlers market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to components, aircraft type, and end-users.
Market Dynamics
Drivers
- Booming Mining and Construction Activities
- Growing Agricultural Activities Across the World
Restraints
- Less Adoption in Asian Market
Opportunities
- Introduction of Electric Telehandlers
Future Trends
- Emergence of Smart Features in Telehandlers
Companies Mentioned
- AB Volvo
- Bobcat Company
- Caterpillar Inc.
- CNH Industrial N.V.
- Haulotte Group
- JLG Industries, Inc
- Komatsu Ltd.
- Manitou Bf
- Terex Corporation
- Liebherr-International Deutschland GMBH
For more information about this report visit https://www.researchandmarkets.com/r/c31szo
