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Global Telescopic Handlers Market is valued at USD 5385.4 Million in 2018 and is expected to reach USD 8339.06 Million by 2025 with the CAGR of 7.6% over the forecast period. factors such as technological advancements in telehandlers, technological advancements in infrastructure development, major players of the market investing in r&d for up-gradation of telescopic handlers are contributing to the growth of the telescopic handlers market.
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A Telescopic Handler is a type of machine which is widely used in agriculture and industry. It is also known as a telehandler, teleporter, reach forklift, or boom lift. It is like a forklift but it has a telescopic cylinder which makes it more crane than a forklift with the increased versatility of an articulating boom or single telescopic that can extend forwards and upwards from the vehicle. Sometimes Telehandlers are called cherry pickers in North America because that name refers to any heavy equipment which has such a boom. It has the ability to remove palletized cargo from within a trailer and place loads in high places such as rooftops so in the industry the most common connection for a telehandler is pallet forks and to move loads to and from places unreachable for a conventional forklift. In Agriculture, the most common application of telehandler is a bucket or bucket which is again used as a backhoe loader. It also works with a crane jib with lifting loads. For applications such as dirt buckets, grain buckets, power booms, and rotators it can be mostly used.
According to the Construction industry statistics and policy, about 2.4 million construction industry jobs in the UK, out of 6.6% of all jobs, and the construction sector contributes £117 billion to the UK economy in 2019. Hence Increasing Demand from end-use industries such as the construction industry witnessed in growth of the market and this is the main key factor contributing in the growth of the Telescopic Handlers Market. The demand from the construction industry is rising due to urbanization and this will drive the market on an upward scale. Along with the construction industry, it has found application in the mining industry due to the equipment’s small size with high operational margin and a common trend associated with high investment machinery is the option available for renting of telescopic loaders for a period of time, these factors give the opportunity of improving the customer base thereby leading to marked improvements in sales volume and hence the overall market.
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Geographically, the Asia Pacific region is dominating in Telescopic handlers Market and maintaining its dominance in the forecast period. This is due to growing industrialization and urbanization in the region. According to the Institute of Geographical Sciences and Natural Resources Research, Chinese Academy of Sciences, The urban population has increased from 2.3 billion to 3.9 billion from 1994 to 2014, indicating that more than half of the world’s population currently dwells in urban areas and this urbanization is fueling the market growth.
Moreover, the North American region is in the second position in dominance this is due to the growing construction industries both in residential and non-residential sectors. According to U.S. Construction Industry – Statistics & Facts, In the United States, private construction spending reached around 992 billion U.S. dollars in 2018 and reach over 1.53 trillion U.S. dollars by 2022 hence increasing the construction industry is a major factor for driving the market growth. Along with these regions, Europe is showing significant growth in the market. Due to the European region has rising demand in the agricultural sector also the increasing need for compact wheeled handlers or skid steer handlers in Europe contributes to the growth of the market.
Global Telehandler Market report covers in-depth historical and forecast analysis.
Global Telehandler Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Telehandler Manufacturers, Competitive Analysis, Regional and Country Level.
Global Telehandlers Market report helps to identify opportunities in the marketplace.
Global Telehandlers Market report covers an extensive analysis of emerging trends and competitive landscape.
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