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Global Telescopic Handlers Market to Grow at a CAGR of 5% During 2021-2026, Aided by Technological Advancements

According to a new report by EMR titled, ‘Global Telescopic Handlers Market Report and Forecast 2021-2026’, the market attained a value of about USD 5.7 billion in 2020. The industry is further expected to grow at a CAGR of 5% in the forecast period of 2021-2026 to reach a value of about USD 8 billion by 2026.

Telescopic handlers have been used for multiple purposes across different industries like agriculture, warehousing operations, and docks. In the historical period 2016-2020, telescopic handlers have seen great demand from mainly the Asia Pacific region due to high growth rates in industrialisation across major economies which also have high populations. This can also be attributed to the rise in the total number of skilled labour and rise in investments from both the private sector as well as the public sector. Normally, telescopic handlers are used for specific applications like power booms, rotators, and grain buckets, however the advent of advanced technologies have improved the quality of these telescopic handlers to be multi-functional, leading to greater demand, in spite of availability of alternatives in the market. The growth rate is expected to be high in North America in the forecast period 2021-2026 as a result of high demand for hybrid telescopic handlers, despite the high amounts of investments required.

Caterpillar Inc (NYSE: CAT) is an American multinational company which is a major player in telescopic handler market. As a Fortune 100 company, the company is also known for its other construction equipment and machinery. Recently, the company acquired an oil and gas company called Weir Oil and Gas, whose supply chains and leads are expected to give the telescopic handlers market an impetus.

Market Analysis by Type, Technology, Lift Height, Lift Capacity, End-Use and Region:

  • The market on the basis of type can be divided into compact and large.
  • Based on technology, the industry can be divided into electric, combustion and hybrid.
  • Based on the lift height for telescopic handlers, the market is divided into categories of less than 5 metres, 5-15 metres, and more than 15 metres.
  • The lift capacity can be divided into less than 3 tons, 3-10 tons, and more than 10 tons.
  • By end-use, the market can be divided into construction, forestry, agriculture, oil and gas, manufacturing, transport and logistics, and power utilities, amongst others.
  • The regional markets for telescopic handlers include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Increasing demand for compact telescopic handlers is expected to drive sales upwards. 
  • Growing infrastructure investments are expected to generate greater demand.
  • Increasing investment in R&D work, especially in North America will give a boost to the industry.
  • Technological advancements in complementary fields are expected to improve the quality of the telescopic handlers.

Key Offerings of the Report:

  • The EMR report gives an overview of the global telescopic handler market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the type, technology, lift height, lift capacity, end-use and region of telescopic handlers.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global telescopic handlers market are JCB Manufacturing Inc., Bobcat company, Manitou Group, Liebherr International Deutschland GmbH, Caterpillar Inc., and Deere and Company, amongst others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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