Telehandlers Market Size, Trends and Growth Analysis by 2027

In 2019, the global telehandlers market was valued at US$ 6,106.4 million and is projected to experience a compound annual growth rate (CAGR) of 2.41% from 2020 to 2027, reaching an estimated US$ 7,312.8 million by the end of the forecast period.

The expansion of infrastructure projects and the growth of urban development are significantly driving the demand for construction machinery within the construction sector. As infrastructure projects increase worldwide, there is a growing requirement for equipment that incorporates advanced technologies to enhance productivity levels. Countries like China and India are experiencing a boom in their construction sectors, fueled by rising disposable incomes, supportive government policies, and robust economic growth. According to a PwC report titled "Global Construction 2030," the construction output is expected to hit US$ 15.5 trillion by 2030, with China, the United States, and India leading this growth due to the aforementioned factors. The mining and construction equipment markets in North America, Europe, and Asia are anticipated to rely heavily on hydraulic excavators, telehandlers, and backhoe loaders. Consequently, the increasing activities in construction, infrastructure, and mining globally will likely elevate the demand for advanced construction machinery, including telehandlers, throughout the forecast period, thereby propelling the telehandlers market forward.

In addition to the construction sector, the agricultural industry is also a key contributor to the rising demand for telehandlers. Major agricultural nations such as the United States, China, India, and Brazil are heavily involved in farming activities. In India, agriculture serves as a primary source of income due to its diverse agro-climatic conditions and extensive arable land, which supports the cultivation of various crops. This scenario creates a high demand for modern agricultural machinery. Telehandlers are commonly utilized in agriculture for tasks such as bucket grabbing and transporting loads to and from locations that are difficult to access with standard machinery. Their ability to reach high-sided trailers directly enhances their utility in agricultural operations, further driving their demand in this sector.

The Asia-Pacific (APAC) region is expected to witness significant growth in the telehandlers market, driven by the presence of rapidly developing countries, increased adoption of technology, the emergence of electric telehandlers, and a surge in agricultural activities. Other developing regions, including the Middle East & Africa (MEA) and South America (SAM), are also anticipated to grow steadily, supported by government initiatives aimed at boosting regional economies through the integration of advanced technologies across various sectors.

The telehandlers market is categorized based on several criteria, including type, propulsion method, lift height, lift capacity, end-users, and geographical location. In terms of type, the market is divided into compact telehandlers, high-lift telehandlers, and high-load telehandlers. Regarding propulsion, the market includes hybrid, electric, and combustion-powered telehandlers. Lift height classifications are below 5 meters, between 5 to 15 meters, and above 15 meters. Lift capacity is segmented into below 3 tons, between 3 to 10 tons, and above 10 tons. The end-user categories encompass construction, agriculture, mining, forestry, and other sectors. Geographically, the market is segmented into five regions: North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

Key players in the telehandlers market include established companies such as AB Volvo, Bobcat Company, Caterpillar Inc., CNH Industrial N.V., Haulotte Group, JLG Industries, Inc., Komatsu Ltd., Liebherr Group, Manitou BF, and Terex Corporation.

The overall size of the global telehandlers market has been determined through a combination of primary and secondary research methods. The research process begins with comprehensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the telehandlers market. This research also provides an overview and forecast based on the various segments identified for the global market. Additionally, primary interviews with industry stakeholders and experts are conducted to validate the data and analysis. Participants in this process typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the telehandlers sector.