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Region : Global | Latest Update: Aug, 2019 | Published Date: Jul, 2019 | Report ID: FBI100995| Status : Published
Global telescopic handlers market which was valued at US$ 5,332.7 in 2018 and is projected to reach US$ 9,596.9 by 2026, exhibiting a CAGR of 7.6% during the forecast period (2019 – 2026)
The global telescopic handlers market is driving the overall market growth owing to the technological advancement in infrastructure development. Investments in telescopic handlers with heavy load-bearing capacity and high- reach facility is increasing in the emerging economies. For instance, JCB has launched a wide range of telescopic handlers in India, with lift height ranging from 7-17 meters owing to the increasing demand from the infrastructural sector is emerging in India. The major players of the telescopic handlers market are investing in R&D for up-gradation of telescopic handlers, and to provide efficient handling equipment. For example, Manitou upgraded its combustion engine telescopic handler (MT 1135) to a hybrid telescopic handler. The growing demand for aerial platform equipment is further expected to drive the global telescopic handlers market in the near future.
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Governments and local authorities from across the world are encouraging usage of renewable energy by introducing efficient and environment-friendly techniques for industrial as well as household applications. For example, Europe’s National Energy & Climate Plans (NECPs) regulated the Clean energy law, under which the major European players are manufacturing eco-friendly engines for the telescopic handlers. Both hybrid and electric telescopic handlers demand increased from various applications including construction, manufacturing, and agriculture industries. The growing investment in the manufacturing sector is expected to result in the popularity of telescopic handlers, thus resulting in the growth of the global telescopic handlers market. As per the statement of the European Commission (EU), Europe invested approximately US$ 35 Million in the manufacturing sector in 2016-2018.
KEY MARKET DRIVERS
Electric engine technology is expected to emerge as the most preferred technology in Telescopic Handlers Market
Upgradation to electric engines in telescopic handlers is increasing as a result of increasing stringent environmental policies. For instance, India’s National Clean Air Program (NCAP) launched in 2019, gives subsequent information on how to prevent, control, and reduce air pollution. Furthermore, electric engines in the telescopic handlers reduce CO2 emissions on construction sites, leading to a green working environment. Thus, the increasing demand for green products by environmentally concerned consumers is expected to help in the electric telescopic handlers market growth. Furthermore, the adoption of upgraded telescopic handlers reduces labor costs, thus tracks the work done in every stage, and minimizes operational costs. Moreover, high lift telescopic handlers are gaining demand as construction projects are emerging in developing countries. For example, Faresin Industries Spa introduced a high technological telescopic handlers electric model at Bauma, that has a lifting height of 6-17 meters with a loading capacity of 2.6-7 tons.
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Major market players are investing in construction projects, thus leading to an increase in the demand of telescopic handlers. As per the research, in Asia Pacific, construction projects worth US$ 19.12 million by Larsen & Turbo were initiated in 2017; this, in return, is expected to drive the global telescopic handlers market. As per the research, APAC is the fastest-growing region in the telescopic handlers market as there are emerging economies, followed by Europe and then North America. Europe has a clear trend for the growth of smaller telescopic handlers such as skid steer handlers or compact wheeled handlers, mostly in the agricultural sector. Lifting capacity and lifting height play a major role while selecting a telescopic handler for industry according to its applications. For example, Genie, a Terex brand introduced a new telescopic handler model Genie GTH- 1256, that has a high lift capacity of 5443 Kg (12,000 lb) and lift height of 17 meters (56 ft.) useful for construction, manufacturing, and transport industry.
North America Telescopic Handlers Market, 2018
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The report on telescopic handlers provides qualitative and quantitative insights on the construction equipment industry where telescopic handlers play a major role in the market and detailed analysis of market size & growth rate for all possible segments in the market. The global telescopic handlers market is segmented by technology and end-user industry on global as well as regional level. Based on technology, the global telescopic handlers market is categorized into a hybrid, electric, and combustion telescopic handlers. Based on the end-user industry, the telescopic handlers market is drilled down into construction, agriculture, manufacturing, transport & logistics, and power utilities. Geographically, the telescopic handlers market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The regions are further categorized into countries.
Along with this, the report on telescopic handlers provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report on telescopic handlers are the prevalence of recent industry developments such as mergers & acquisitions, consolidated SWOT analysis of key players and key industry trends.
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· Compact Telescopic Handlers
· High Lift Telescopic Handlers
· Heavy Load Telescopic Handlers
By Lift Height
· Less than 5 meters
· 5-15 meters
· More than 15 meters
By Lift Capacity
· Less than 3 tons
· 3-10 tons
· More than 10 tons
By End-User Industry
· Oil & Gas
· Transport & logistics
· Power utilities
· North America (The U.S. and Canada)
· Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Rest of the World