Telehandler Market Size Worth USD 9.38 Billion By 2028; Rising Initiatives by Governments to Surge Usage of Renewable Energy to Aid Growth

The global telehandler market size is projected to reach USD 9.38 billion in 2028. Various local and government authorities worldwide are taking initiatives to encourage people to utilize renewable energy resources. Hence, companies nowadays are striving persistently to introduce environment-friendly and efficient techniques for household and industrial applications. Europe’s National Energy & Climate Plans (NECPs), for instance, outline how countries of this region intend to address greenhouse gas emissions, renewables, and energy efficiency. Fortune Business Insights™ published this information in a new report, titled, “Telehandler Market Size, Share & COVID-19 Impact Analysis, By Type (Compact, High Lift, and High Load), By Technology (Hybrid, Electric, and Combustion), By Lift Height (Less than 5 meters, 5-15 meters, and More than 15 meters), By Lift Capacity (Less than 3 tons, 3-10 tons, and More than 10 tons), By End-User (Construction, Forestry, Agriculture, Oil & Gas, Manufacturing, Transport & Logistics, and Power Utilities) and Regional Forecast, 2021-2028.” The report further states that the market stood at USD 5.87 billion in 2020. It is expected to show a CAGR of 6.1% in the forthcoming years between 2021-2028.

Manitou Group Launches Gehl TX 408 and MXT 840 Telehandlers for Emerging Markets

In May 2019, Manitou Group exhibited two new compact loaders and telehandlers in a dealer-press meet hosted in Thailand. They are specially developed for emerging markets of Eastern Europe, the Middle East, and Asia. The company’s new Gehl TX 408 and Manitou MXT 840 telehandlers can perform a wide range of tasks. Their attachments enable operators to work safely at construction sites.

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https://www.fortunebusinessinsights.com/industry-reports/telescopic-handlers-market-100995

Increasing Need to Lower Operational & Labor Costs to Accelerate Growth

Upgraded telehandlers can efficiently track the work done at every step. At the same time, they reduce labor and operational costs significantly. In developing economies, the rising number of upcoming construction projects is aiding in creating a high demand for high lift machines. For instance, in April 2019, Faresin Industries unveiled its technologically advanced models of Telehandler according to customers’ feedback collected by the organization’s R&D department. However, the COVID-19 pandemic may hinder the telehandler market growth in the upcoming years on account of the declining investments in natural gas pipeline projects in the Middle East and Asia Pacific.

Investments in R&D for Machine Upgradation — Crucial Strategy of Key Companies

The global market contains numerous prominent players, such as Doosan Bobcat, Skyjack, Caterpillar, and others. They are mainly investing huge sums in research and development activities to upgrade their machinery. This will enable them to cater to the specific needs of customers.

Fortune Business Insights™ lists out the names of renowned Telehandler manufacturers present in the global market. They are as follows:

• J.C Bamford Excavator Ltd. (Rochester, United Kingdom)


• Caterpillar (Illinois, United States)


• Doosan Bobcat (Seoul, South Korea)


• CNH Industrial America LLC (Wisconsin, United States)


• Manitou BF (Ancenis, France)


• Terex Corporation (Connecticut, United States)


• Wacker Neuson SE (Munich, Germany)


• Liebherr-International Deutschland GmbH (Bulle, Switzerland)


• Skyjack (Guelph, Canada)


• HAULOTTE GROUP (L'Horme, France)


• JLG Industries (Pennsylvania, United States)


• Komatsu Ltd. (Tokyo, Japan)


• AB Volvo (Gothenburg, Sweden)

A Noteworthy Industry Development-

• November 2018: New Holland Agriculture extended its range of six to nine meter telehandlers. The new TH series provides customized solutions to businesses. It also caters to the operational requirements of various farming applications, ranging from the Elite version to the entry level S version. The former is best suited for large scale contractors and livestock farmers.

Further Report Findings-

• In 2020, Asia Pacific market earned USD 2.07 billion in terms of revenue. This growth is attributable to the major contributions of China. The country provides several opportunities to regional or local companies to broaden their businesses. It also possesses favourable trading policies.


• North America is anticipated to remain in the second position because of the increasing emergence of new investors in a large number of sectors, mainly transport and logistics, agriculture, and power and utilities.


• Based on the technology, the hybrid segment held 27.6% globally and 23.6% in China, respectively in terms of the telehandler market share in 2020. The demand for hybrid engines will remain substantial till 2025 because of the rising shift to electric from combustion engines. They also provide several features.

The global market can be segmented in the following way: