The employment of telehandlers in the material handling space, with their versatility and safe technology, is driving global sales, according to a new market research report from Future Market Insights (FMI).
While the U.S. and Europe have been the early adopters of telehandlers, future growth will be reliant on demand from China, India, Brazil, GCC (Gulf Cooperation Council - a political and economic union of Arab states bordering the Persian Gulf), and countries where mega projects are coming up.
Given their multipurpose features that enable them to perform the tasks of cranes, loaders, and access equipment in several industries, telehandlers are set to be the first machinery that can be deployed at operation sites for material handling without prior ground preparation.
End-users seeking customized solutions at a slightly higher price will find added value in telehandlers as overall machine expense and utilization in projects will justify customers’ initial investment in the machinery.
Key takeaways of the Telehandlers Market Study include:
- Worldwide sales of telehandlers to surpass U.S. $6 billion in 2030
- Manufacturers to reap substantial gains from telehandlers having maximum lift height of 30-60 ft.
- Electrification and lightweighting to emerge as disruptive forces in global market
- The U.S. and Europe remain the most lucrative markets
“Telehandlers are equipped with an array of attachments including, jib and crane, pallet fork, tire handlers, and re-handling multi-purpose buckets, and these attachments are transforming continuously as the cab continues to explore potential application avenues,” says an FMI report analyst.
COVID-19 Impact on Telehandlers Market
The COVID-19 pandemic has had immediate repercussions on the global economic order and that effect goes across every industry, including construction. Worldwide construction growth has slumped to 0.5% CAGR from the expected 3.1% for 2020.
The global construction sector is likely to face disruptions in coming months from the pandemic as companies across the globe are being squeezed by the disease outbreak, through supply chain and labor market disruptions.
Construction projects have been delayed, and manufacturing operations have been ceased due to nationwide lockdowns amid the COVID-19 crisis. With a steep drop in operations in construction and manufacturing sites, demand for telehandlers has been severely affected.
However, once construction projects pick up again the telehandler market will improve.
Telehandlers Market – Competitive Intelligence
The global telehandler market is highly consolidated with prominent players capturing about two-fifths of overall market value. Manufacturers are developing telehandlers armed with new features in an effort to lock in customers and achieve economies of scale. For instance,
- JCB has rolled out its new telehandlers - Hydraload 555-210R - with rotating telescopic handler. The machine comes with maximum lifting height of 20.5 m and maximum lift capacity of 5.5 tons
- Xtreme Manufacturing has introduced telehandlers that exhibit 17,000-lb. capacity. The telehandlers are armed with the company’s novel modular cab design that allows them to be simply switched from open to enclosed, or vice versa, with an optional gear. This offers customers with enhanced flexibility while running telehandlers in several environments.