Asia-Pacific Telehandlers market

Asia Pacific Telehandlers market Size Set to Cross USD 1.1 Billion by 2029

Published | 07 September 2023

Asia-Pacific telehandlers market is flourishing due to an increasing number of construction and infrastructure projects, expanding agricultural activities, rising demand for material handling equipment, and growing awareness of the benefits of telehandlers in various industries.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Asia-Pacific telehandlers market size at USD 843.6 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Asia-Pacific telehandlers market size to grow at a CAGR of 5.24% reaching a value of USD 1,146 million by 2029. The growing demand for telehandlers across various industries, such as construction, agriculture, and manufacturing, driven by the need for effective material handling solutions, is a major growth driver for the Asia-Pacific telehandlers market. Also, technological advancements have resulted in the incorporation of smart features, which improve efficiency and safety. Due to rising environmental concerns and severe requirements, hybrid and electric telehandlers are gaining popularity. Further, market participants are working on producing compact and versatile models to cater to a wide range of applications. The telehandler rental industry is also growing, demonstrating a demand for cost-effective and adaptable equipment solutions.

Asia-Pacific Telehandlers Market – Overview

Telehandlers, also known as telescopic handlers, are versatile material-handling machines commonly used in construction, agriculture, and industrial settings. Combining the features of a forklift and a crane, they feature a telescopic boom that extends forward and upward, providing increased reach and lift capacity. With various attachments, they can lift, carry, and place loads at different heights and distances. Telehandlers offer excellent maneuverability, making them ideal for tight spaces and uneven terrain. Their adaptability and efficiency in handling diverse tasks have made them indispensable in the construction industry, as well as in agricultural operations and other applications requiring heavy lifting and material placement.

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Impact of COVID-19 on Asia-Pacific Telehandlers Market

The Asia-Pacific telehandlers market faced significant disruptions due to the COVID-19 pandemic. Lockdown measures and supply chain disruptions led to project delays and hindered new equipment purchases. With construction and industrial activities slowing down, demand for telehandlers declined, impacting manufacturers and rental businesses. Remote working further affected decision-making processes, leading to uncertainties in the market. However, the industry showed resilience, as post-pandemic recovery efforts in the construction sector and infrastructure projects are expected to drive market growth. Adapting to evolving customer needs and digital innovations became crucial for telehandler companies during this challenging period.

Asia-Pacific Telehandlers Market – By End User

By end user, Asia-Pacific telehandlers market is divided into Construction, Mining, and Agriculture segments. These segments represent the primary applications for telehandlers in the region. While all three segments contribute to the market's growth, construction is likely to be the largest segment, given the region's rapid urbanization and infrastructure development. Telehandlers play a crucial role in construction projects, enabling versatile material handling and increased efficiency on construction sites. Thus, the construction segment holds a dominant position in the Asia-Pacific telehandlers Market, driving its expansion and technological advancements.

Competitive Landscape

Asia-Pacific telehandlers market is fiercely competitive. Major companies in the market include Caterpillar Inc., Volvo Construction Equipment Corp, CNH Industrial N.V., J.C. Bamford Excavators Limited, Skyjack, Haulotte Group Sa, Manitou, Doosan Infracore Co. Ltd, Xcmg Construction Machinery Co., Ltd, Wacker Neuson SE, JLG Industries, Terex Corporation, and Komatsu Ltd. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Asia-Pacific telehandlers market.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Asia-Pacific Telehandlers Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Asia-Pacific Telehandlers Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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