Market Synopsis of Light Duty Telehandler Market
The report is being studied for Light Duty Telehandler which means Telehandler which can bear a load of up to 5 tons. A Telehandler is a machine used for lifting of loads in construction, agriculture, logistics, and other industries. The machine is also useful for material handling, digging trenches and undergrounds mine baskets.
The growth of the Telehandler Market is expected to be driven by its widespread use in construction and agriculture purposes. Telehandler have evolved from a typical landscaping and farming equipment into more sophisticated construction equipment owing to factors such as high load bearing capacity and 360° movement capability. The telehandler can be combined with other industrial machines for reducing the overall cost of production. The ability of the equipment to perform a wide variety of tasks such as in farming and construction, further contributes to the growth of the Telehandler Market.
One of the key drivers for the growth of Light Duty Telehandler Market is the increased spending in construction, infrastructure and mining activities. The growth of the customer segment and the rapid technological advancements in the manufacturing of telehandler is boosting the growth of the market. The other driving factor of the market is the increasing government initiatives to support infrastructural development in developing countries. The growth of this market is restrained by the high maintenance and operational costs of Light Duty Telehandler.
The report has been analyzed based on the capacities, applications and regions. Among all capacities of Light Duty teleHandler, the 4.1 to 5 tons segment is expected to dominate the market. The share is attributed to the widespread use of telehandler for construction and agriculture purposes which is further expected to bolster the prospects for market growth. Less than 3 tons capacity telehandler are used for lifting and light material handling purposes. These are majorly used in residential construction and industrial use where the materials are generally light in nature as compared to mining, infrastructure and commercial construction application.
Asia-Pacific Accounts for the Highest Market Share:
Asia-pacific region is expected to be the fastest growing region owing to the developing nations such as China. China is leading the market for Telehandlers both by capacity and by application during the forecast period. The region is expected to grow at a CAGR of 2.5% during the forecast period. The market is also growing rapidly with the use of Telehandler across various industry verticals in the region such as construction, mining and others. The markets for Telehandler are flourishing in the emerging economies such as China as well due to the emergence of industries and manufacturing facilities in the region. China also accounts for maximum volume of Telehandler under ‘construction’ segment, by application.
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Market Research Analysis:
Based on capacity, up to 3 tons segment is expected to be the highest growing segment of the light duty Telehandler Market. Less than 3 tons capacity Telehandler are used for lifting and light material handling purposes. These are used in residential and industrial construction, where the materials are generally light in nature as compared to mining, infrastructure and commercial construction applications. This use has led to the growth of the Telehandler segment of capacity up to 3 tons.
Asia-Pacific region is expected to dominate the Telehandler Market with the highest CAGR. In the Asia-pacific region, China is the fastest growing region. It is expected to account for a significant share of the all new global construction in the forecast period. It is also witnessing increased urbanization with the implementation of central national new type urbanization plan, which further widens the scope of Telehandler Market in the region.
Scope of the Report:
This study provides an overview of the Global Telehandler Market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Telehandler Market by its capacity, type and region.
- Up to 3 tons
- 3.1 to 4 tons
- 4.1 to 5 tons
- North America
- Asia Pacific
- Rest of the World
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