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Telehandlers Market Expected to Reach $7.8 Billion by 2026
PORTLAND, OR, UNITES STATES, October 26, 2023 /EINPresswire.com/ -- The global telehandlers market size was valued at $5,433.9 million in 2018, and is projected to reach $7,821.4 million by 2026, growing at a CAGR of 4.5% from 2019 to 2026.
A telehandler, also known as a telescopic handler, is a vehicle with a telescopic boom, fitted with various lifting accessories. The growth in investments in development of telehandlers by manufacturers has encouraged fleet owners and rental companies to adopt this equipment. In addition, reduction in the utilization of heavy equipment decreases capital investments and maintenance costs for rental companies and fleet owners.
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In 2018, based on height, the less than 50 ft segment accrued the largest share in the market. Growth in this segment is supplemented by convenience that telehandlers have over traditional forklifts and other material lifting equipment.
In addition, expansion of the infrastructure sector throughout the globe, especially in emerging nations such as China and India drives the telehandlers market growth. Moreover, telehandlers are suited for heavy tasks in the agriculture sector earlier suited for heavy equipment. Thus, the growth of the agriculture sector, owing to increase in population, is projected to fuel the demand for market in the coming years.
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In addition, the mining segment is expected to exhibit significant growth during the forecast period. Proliferation of new commercial and construction properties in developing countries is expected to propel the demand for construction equipment, which, in turn, is anticipated to fuel the growth of the global telehandlers market.
Moreover, growth in the retail infrastructure across developing nations is anticipated to boost the sales of telehandlers, especially through hypermarkets and other channels.
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Top Players:
The key players profiled in the telehandlers market report include Wacker Neuson SE, Doosan Infracore Co. Ltd., Terex Corporation, Liebherr Group, Manitou Group, J.C. Bamford Excavators Ltd., Linamar Corporation, Caterpillar, CNH Industrial , and Oshkosh Corporation; and some enterprises, like JCB, Caterpillar, and Terex Corporation, which are well-known for their wonderful performance in telehandlers and related services. Many players have adopted product development as their key developmental strategy to improve their product portfolio.
David Correa
Allied Analytics LLP
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