As per the analysis by FMI, the telehandler market accounts for a valuation of USD 6,664.40 million in 2024. Telehandler manufacturers can focus on advancements in battery technology and automotive electrification trends to boost revenues. Reflecting on these emerging themes, demand could rise and equate to a market valuation of USD 11,822.81 million, with a CAGR of 5.90% by 2034.
| Attributes | Details |
|---|---|
| Telehandler Market Size, 2024 | USD 6,328.40 million |
| Market Size, 2024 | USD 6,664.40 million |
| Forecast Market Size, 2034 | USD 11,822.81 million |
| Value-based CAGR (2024 to 2034) | 5.90% |
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Proliferation of Electric Telehandlers Paves the Way for Innovation and Sustainability
Several businesses have showcased their adaptability by launching electric telehandlers. Environmental concerns and stricter mandates to minimize emissions are assisting in the shift toward these. These provide benefits, such as less noise pollution and cheaper long-term running costs compared to diesel parallels.
Technological developments in batteries are making these more practical for various uses. These are becoming popular due to their advantages for the environment. They help capacity to increase productivity and fulfill sustainability objectives. For instance, JCB introduced the new 525-60E electric compact telehandler in September 2023 as part of its fully electric e-tech range.
In the similar category of compact telehandlers, Wacker Neuson launched a new compact electric telehandler in November 2023. This new TH412e telehandler is compact and can be used in confined spaces.
Hydrogen and Hydrogen-fuel Cell-based Telehandlers Hit the Market
Hydrogen fuel cell telehandlers are a green alternative to conventional diesel-powered versions. By producing energy onboard via the electrochemical reactions of hydrogen and oxygen, hydrogen fuel cells emit no toxic pollutants and solely create water vapor as a byproduct.
Because of this, these are perfect for application in locations with strict air quality standards, indoor facilities, urban construction sites, and/or protected areas. Furthermore, extensive working ranges and quick refilling times are two benefits of hydrogen fuel cell technology that give operators an effective and sustainable alternative for material handling applications.
In December 2022, Manitou introduced its first-of-its-kind product. The company aims to introduce a 100% hydrogen telehandler by 2026. The hydrogen program is part of the French manufacturer's effort to reduce greenhouse gas emissions from its equipment by 34% per hour by 2030.
Principal Consultant
| Top Maximum Lift Height | 30’ to 60’ |
|---|---|
| Value Share (2024) | 47% |
In the maximum lift height category, the 30’ to 60’ segment gained 47% of market shares in 2024. Telehandlers with more lift heights are becoming more necessary as vertical construction projects, such as skyscrapers and high-rise buildings, increase globally. These can efficiently facilitate building operations at different heights and reach elevated work areas, and higher levels are essential for construction organizations.
Vertical development tends to be more necessary than horizontal expansion due to urbanization trends and the limited amount of accessible land in metropolitan areas. High lift height telehandlers are crucial for maneuvering through congested areas and reaching lofty building sites where conventional cranes can be too big or too limited.
| Top Lifting Capacity | 3 to 6 |
|---|---|
| Value Share (2024) | 46.20% |
In the lifting capacity category, the 3 to 6 ton segment holds 46.20% of the market share in 2024. The increased demand for telehandlers with lifting capabilities ranging from 3 to 6 tons highlights the expansion potential in the construction, infrastructure development, and industrial sectors.
As construction operations develop internationally and infrastructure projects increase, there is a greater demand for telehandlers to fulfill material handling and lifting requirements across various applications and sectors.
The trend of renting equipment stimulates demand with lifting capacities of three to six tons. These can be rented from organizations that specialize in providing equipment. They fulfill the demands of industrial operators, building contractors, and other end users looking for versatile and reasonably priced equipment.
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| Countries | Value CAGR (2024 to 2034) |
|---|---|
| United States | 5.10% |
| Germany | 4.50% |
| Japan | 5.60% |
| China | 4.80% |
| India | 5.60% |
The demand for telehandlers in the United States will amplify at a 5.10% CAGR through 2034. The American government has launched 40,000 projects by introducing a USD 1 trillion infrastructure bill in November 2023.
These are necessary equipment for material handling and construction work. Their demand has increased due to the recent spike in infrastructure investment. The demand is predicted to skyrocket as construction companies increase operations to capitalize on these lucrative contracts. This offers potential for development to equipment rental businesses and manufacturers.
The United States telehandler industry is witnessing a commotion as modern technologies like automation, IoT, and telematics gain applications. Construction enterprises and equipment rental businesses are investing in smart telehandlers with the latest features. This helps to increase operational efficiency, raise safety standards, and improve fleet management procedures.
The sales of telehandlers in Germany will amplify at a 4.50% CAGR through 2034. Telehandler manufacturers can boost revenues by tapping into the agricultural sector because of Germany's booming agriculture industry, which is adopting precision farming techniques and technological innovation.
For jobs like harvesting crops, feeding cattle, and managing agricultural inputs, telehandlers with precision attachments like silage grabs, bale handlers, and GPS-guided forks are in high demand. Telehandlers are also required for biomass handling and renewable energy infrastructure projects in Germany. The country's agricultural industry's embrace of renewable energy solutions, including biogas generation and biomass heating, boosts telehandler sales.
The market growth in Japan is estimated at a 5.60% CAGR through 2034. Japan's construction, agriculture, and manufacturing industries are experiencing a labor crisis. This can be ascribed to the country's aging population and diminishing workforce.
By automating and simplifying material handling activities, telehandlers reduce the need for physical labor, which helps manage labor shortages. Telehandlers are in demand as labor-saving equipment as Japanese firms look to increase production and operational efficiency in the face of manpower restrictions. This presents growth prospects for both manufacturers and service providers.
Telehandler demand in China will surge at a 4.80% CAGR through 2034. The Chinese government is investing in infrastructure development initiatives. These include transportation networks, energy projects, public utilities, highways, railways, and others. These projects are boosting demand for telehandlers in large-scale construction projects.
Telehandlers are crucial equipment for supporting infrastructure development projects. As China continues to invest in infrastructure to boost economic growth and improve connectivity, demand for telehandlers as key construction equipment is projected to stay high. This creates growth prospects for infrastructure manufacturers and suppliers.
Telehandler sales in India will augment at a 5.60% CAGR through 2034. Housing, rural infrastructure development, and independent manufacturing are chief targets for government investments. Programs like the Pradhan Mantri Awas Yojana, Pradhan Mantri Gram Sadak Yojana, and Atmanirbhar Bharat Abhiyan boost sales of telehandlers.
Under these government programs, these are necessary tools for building roads, developing infrastructure, and executing construction projects. This makes the market more advantageous for telehandler providers and manufacturers. The demand in India is stimulated further by incentives, including tax breaks, infrastructure status for certain projects, and GST rebates that promote investments in equipment acquisition.
The market is extremely competitive, with corporations like JCB and Caterpillar dominant. These corporations use their brand recognition and worldwide reach to maintain market share. However, regional companies and newcomers are making progress by providing specialized solutions and using technical innovation. Partnerships and technology breakthroughs are significant factors in this landscape, influencing industry players' competitive dynamics and strategic agendas.
Recent Developments
The telehandler market is valued at USD 6,664.40 million in 2024.
The market size is estimated to increase at a 5.90% CAGR through 2034.
The market is expected to be worth USD 11,822.81 million by 2034.
The 3 to 6 ton segment is highly preferred in the market.
The industry in India and Japan is predicted to expand at a 5.60% CAGR through 2034.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Large 5.2. Compact 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Lift Capacity 6.1. Less than 3 Ton 6.2. 3 - 10 Ton 6.3. More than 10 Ton 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-use 7.1. Construction 7.2. Agriculture 7.3. Manufacturing 7.4. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Danfoss 18.2. Terex Corporation (Genie) 18.3. Haulotte Group 18.4. Oshkosh Corporation (JLG Industries, Inc.) 18.5. Linamar Corporation 18.6. Manitou BF 18.7. J C Bamford Excavators Ltd. 18.8. MAGNI Telescopic Handlers Srl 18.9. Doosan Bobcat 18.10. CLAAS KGaA mbH 18.11. Wacker Neuson SE 18.12. Xtreme Manufacturing Llc 19. Assumptions & Acronyms Used 20. Research Methodology
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Telehandler Market
