Telehandler Market To Reach $6.74 Billion By 2030 | CAGR 5.8%

Telehandler Market Size Growth & Trends

The global telehandler market size is projected to reach USD 6.74 billion by 2030, growing at a CAGR of 5.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market has witnessed remarkable growth, largely driven by the thriving construction industry, particularly in emerging economies. The rapid expansion of this construction sector can be attributed to several factors, including the growth of urbanization, infrastructure development projects, and the increasing need for efficient material-handling equipment. As cities expand and populations grow, there is a greater requirement for modernized and well-equipped structures. Hence, construction companies increasingly rely on telehandlers to handle heavy loads and optimize material handling processes at construction sites.

The telehandler industry is witnessing remarkable growth by the warehousing and logistics sector expansion, fueled by the continuous rise of e-commerce. In 2020, retail B2C e-commerce held a significant share of the global retail market, accounting for approximately 18% of the total global retail sales. As e-commerce thrives and reshapes the retail landscape, the demand for efficient and streamlined logistics operations has increased dramatically. E-commerce companies rely heavily on warehousing and distribution centers to store, sort, and ship their products. Telehandlers are useful for loading and unloading materials from storage racks and containers and transporting goods across the facility. The continuous rise of e-commerce has increased the need for larger and more advanced warehouses and distribution centers. These facilities require efficient material handling equipment such as telehandlers to ensure smooth and speedy operations. As a result, the demand for telehandlers has soared in tandem with the growth of the warehousing and logistics sector.

Infrastructure development is experiencing an impressive surge in the rapidly developing regions, with a notable focus on Asia Pacific, Latin America, and Africa. These economies are witnessing significant growth in their infrastructure projects. Both governments and private entities are making substantial investments in ambitious large-scale projects, including constructing roads, airports, railways, and industrial facilities. For instance, in June 2022, the Indian Minister of Road Transport and Highways announced the opening of 15 new national highway projects worth USD 1.7 billion in Patna Hajipur and Bihar. Within these transformative endeavors, telehandlers are emerging as indispensable assets due to their exceptional versatility in handling diverse materials and performing multiple tasks. As these economies continue to expand, the demand for telehandlers is expected to rise significantly, driven by the need for efficient material handling solutions at various construction sites.

Telehandlers have undergone remarkable advancements, incorporating cutting-edge control systems that significantly improve operator convenience and productivity. These state-of-the-art systems encompass a variety of features, such as joystick controls, ergonomic operator interfaces, and intuitive displays. With the integration of these advanced controls, telehandlers have become more agile, stable, and accurate, revolutionizing how operators manage diverse loads and increasing efficiency and safety. Moreover, the integrated control systems found in modern telehandlers significantly enhance machine responsiveness, stability, and precision. These systems constantly monitor and adapt to changing conditions using advanced algorithms and sensors, ensuring seamless and controlled movements. This heightened level of responsiveness enables operators to handle loads efficiently, reducing the risk of accidents and minimizing damage to both the machine and its surroundings.

 Request a free sample copy or view report summary: Telehandler Market Report

Telehandler Market Report Highlights

• In terms of product, the compact segment is anticipated to register the highest CAGR of 6.3% over the forecast period.The growing demand for the segment globally can be attributed to its versatility, maneuverability, and ability to efficiently handle a wide range of tasks in diverse industries

• In terms of propulsion type, the electric segment is anticipated to register the fastest CAGR of 7.5% over the forecast period. The growth of this segment is driven by the increasing focus on sustainability, improved operational efficiency, and reduced carbon emissions in the construction and industrial sectors

• In terms of lift capacity, the more than 10-ton segment is expected to grow at a considerable growth rate over the forecast period. Increasing construction projects, infrastructure development, and the need for heavy-duty lifting and handling capabilities drive the growing demand for telehandlers weighing over 10 tons globally

• In terms of end-use, the agriculture industry is anticipated to grow at a considerable CAGR over the forecast period. This growth is driven by increasing population, changing dietary preferences, and the need for sustainable food production

• In terms of region, Asia Pacific is anticipated to register the fastest CAGR of 7.3% over the forecast period. The growth can be attributed to increasing infrastructure developments in the region

Telehandler Market Segmentation

Grand View Research has segmented the global telehandler market based on product, propulsion type, lift capacity, end-use, and region:

Telehandler Product Outlook (Revenue, USD Million, 2018 - 2030)

• Large

• Compact

Telehandler Propulsion Type Outlook (Revenue, USD Million, 2018 - 2030)

• ICE

• Electric

Telehandler Lift Capacity Outlook (Revenue, USD Million, 2018 - 2030)

• Less than 3 Ton

• 3 - 10 Ton

• More than 10 Ton

Telehandler End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Construction

• Agriculture

• Manufacturing

• Others

Telehandler Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• MEA

  • UAE

  • Saudi Arabia

  • South Africa

List of Key Players in the Telehandler Market

• AB Volvo

• Caterpillar.

• CNH Industrial N.V.

• Doosan Corporation.

• HAULOTTE GROUP

• J C Bamford Excavators Ltd.

• Komatsu Ltd.

• L&T Technology Services Limited.

• Manitou.com

• Oshkosh Corporation

• Terex Corporation.

• Wacker Neuson SE