Telehandler Market Size By Product (Large Telehandler, Compact Telehandler), By Type (Electric, Engine Powered), By Application (Rental, Construction & Mining, Agriculture, Industrial), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020-2026

Published Date: Aug 2020  |  Report ID: GMI4788  |  Authors: Preeti Wadhwani, Prasenjit Saha

Report Format: PDF   |   Pages: 245   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Telehandler Market size exceeded USD 5.5 billion in 2019 and is expected to witness a high growth rate of 11% between 2020 and 2026. Growing demand for telehandlers due to their multifunctional applications in sectors including agriculture, construction & mining, and manufacturing industries will boost the industry growth.
 

The ability of telehandlers to carry and lift heavy materials to great heights contributes to their growing demand. These machines are characterized by enhanced strength and flexibility compared to conventional cranes and forklifts. The four-wheel drive functionality in telehandlers allows them to be driven on smooth and off-road conditions.
 

Telehandler Market

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Integration of advanced technologies such as telematics and fleet management systems, is providing a positive outlook to the market size. Automated sensors and IoT technology are further disrupting the telehandler market. Manufacturers are investing heavily in R&D and product innovations to add technologically advanced features and enhanced capabilities to their products.
 

For instance, in June 2019, JCB announced the launch of its rotating telehandler model. The Hydraload 555-210R is equipped with JCB LiveLink telematics system and RFID technology that assist in identification and management of external attachments.
 

One of the major challenges restricting the industry include high initial purchase cost of these machines. These machines are integrated with high-quality pneumatic parts that are critical to safe operation. Telehandlers also require regular servicing and timely maintenance to ensure consistent performance.
 

However, players are focusing on reducing the cost of these machines by adopting vertical integration and economies of scale. Automated sensors and diagnostics technologies are significantly improving the preventive maintenance of these machines, thereby reducing the challenges associated with maintenance in the industry.
 

The telehandler industry will observe a sluggish growth owing to the severe impact of the COVID-19 pandemic across the globe. Factors, such as global economic slowdown and increasing financial insecurities, are contributing to the slow growth of the market. Industrial and bulk buyers are postponing their purchasing decisions due to the shortage of capital. The demand supply gap in the industry is widening on account of the shortage of raw materials and limited production capability of manufacturers.
 

Telehandler Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 5.5 Billion (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 11% 2026 Value Projection: 10.5 Billion (USD)
Pages: 245 Tables, Charts & Figures: 338
Geographies covered (16): U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa
Segments covered: Product, Type, Application
Companies covered (25): Caterpillar, Inc., CNH Industrial, CTE Company, Dieci Srl, Dinolift OY , Doosan Infracore Co. Ltd., Faresin Industries, Haulotte Group , Hunan Runshare Heavy, Industry Company, Ltd., Hunan Sinoboom Heavy Industry Co. Ltd. , J.C. Bamford Excavators Ltd., JLG Industries, Liebherr Group, Manitou Group , MEC Aerial Work Platform, Niftylift Limited , Skyjack , Snorkel , Socage Srl , Terex Corporation (Genie) , Teupen , Wacker Neuson SE, XCMG Group, Zhejiang Dingli Machinery Co, Ltd. , Zoomlion Heavy Industry Science and Technology Co., Ltd.
Growth Drivers:
  • Proliferation of rental equipment services
  • Growing construction and infrastructural investments in North America
  • Increasing demand for technologically advanced telehandlers in Europe
  • Rapidly growing industrial sector in Asia Pacific
  • Rising number of mining projects in Latin America
  • Construction of smart cities in MEA
Pitfalls & Challenges:
  • High initial and maintenance cost of telehandlers
  • Lack of skilled operators

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Increasing demand for multi-tasking with compact telehandlers

The compact telehandler market held around 20% revenue share in 2019. The growing trend of deploying small sized machines in manufacturing and industrial applications is contributing to the segment growth. Several advantages offered by compact equipment including small stature, easy maneuverability, and multi-tasking abilities are further fueling their adoption.
 

In response to the growing market demand, manufacturers are launching new models of compact telehandlers. For instance, in February 2018, Skyjack introduced its new model of compact telehandlers in the market. The SJ519 TH compact units offer a 5,500-pound (2,500 kg) load capacity and lift height of 19.1 feet (5.82 m.) The machine also offers a spacious yet compact cab size to facilitate easy operation, increasing the revenues for the company.
 

Proliferation of low emission electric telescopic handlers

The electric telehandler market is predicted to reach USD 2 billion by 2026. Increasing awareness related to vehicular emissions form heavy construction machinery coupled with stringent emission regulations is providing robust growth opportunities for the market. Electric telehandlers significantly reduce noise levels during operation, thereby enhancing the operator comfort.
 

Industry players are launching new electric models to cater to the growing demand. For instance, in April 2019, Faresin Industries launched its fully electric model that is ideal for use in indoor locations and densely populated areas owing to minimum noise levels.
 

Increasing demand from rental companies is driving the market revenue

Telehandler Market Size

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The rental segment valued at above USD 2.5 billion in 2019 and is projected to grow at more than 12% CAGR through 2026. Shifting preferences of construction contractors toward renting telescopic handlers to avoid investing high amounts in purchasing new equipment will drive the rental application segment growth. Rental companies are purchasing technologically advanced models with increased horsepower, lifting capacities, and high operating efficiency to cater to the growing customer demand.
 

Rising investments in the North American construction sector

North America Telehandler Market

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The North America telehandler market revenue surpassed USD 2 billion in 2019 and is estimated to cross USD 4 billion by 2026. Rapidly growing investments in the construction sector in countries including the U.S. and Canada are positively influencing the regional market demand. For instance, in 2019, the U.S government announced the allocation of USD 1 trillion for maintenance of old buildings and construction of new public infrastructure. Similarly, the Canadian government announced a revised budget of USD 5.6 billion for the construction sector in 2019.
 

Telescopic handlers offer several benefits on construction sites. The off-roading and 4-wheel drive features of these machines are extremely beneficial in the initial stages of construction projects with uneven and unlevelled surfaces. The ability of these machines to lift heavy loads to great heights is increasing their adoption in the construction of multi-storied buildings and large public infrastructure development projects. Furthermore, the high demand for technologically advanced equipment for timely completion of projects in North America is impelling the regional market growth trends.
 

New product launch and business expansion are key strategies adopted by telehandler industry players

Companies are focusing on launching new products to increase their revenues and profits. For instance, in July 2019, JCB launched new models of electric and engine powered telescopic handlers in the market. The new models include new electric Teletruk telehandler with reduced emissions. Other prominent strategies adopted include expansion of their business operations in unserved geographic areas.
 

Key players operating in the global telehandler market include JCB, Haulotte Group, Snorkel, Doosan Infracore Co. Ltd., Tadano, Hunan Sinoboom Heavy Industry Co. Ltd., Terex Corporation, Zoomlion Heavy Industry Science and Technology Co., Ltd., Skyjack, JLG Industries, Socage Srl, and Manitou Group.
 

This market research report on telehandler includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2020 to 2026 for the following segments:

Market, By Product

  • Large telehandler
  • Compact telehandler

Market, By Type

  • Electric
  • Engine powered

Market, By Application:

  • Rental
  • Construction & mining
  • Industrial
  • Agriculture

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Frequently Asked Questions (FAQ) :

The market size of telehandler was crossed USD 5.5 billion in 2019.
The industry share of telehandler is projected to expand at 11% CAGR through 2026.
These products will be massively deployed across North America, given the increasing construction sector investments in the U.S. and Canada. North America market size crossed USD 2 billion in 2019.
The rental segment was worth USD 2.5 billion in 2019 and may register 12% CAGR through 2026 owing to shifting inclination of contractors toward tenting telehandlers so as to not invest a high capital to buy equipment.
The electric telehandler segment may cross USD 2 billion by 2026 driven by rising awareness pertaining to vehicle emissions alongside the imposition of strict norms.
Compact telehandlers accounted for 20% revenue share in 2019 and may depict considerable growth owing to the ongoing trend of implementing small-sized machines in the manufacturing sector.
The telehandler market may depict a slightly sluggish growth rate owing to the ongoing COVID-19 pandemic that has caused increased delays in productions and purchasing decisions by bulk buyers.

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Premium Report Details

  • Published Date: Aug 2020
  • Pages: 245
  • Tables: 307
  • Charts / Figures: 31
  • Companies covered: 25
  • Countries covered: 16

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