Telehandler manufacturers are displaying interest in computerized stabilization sensor technologies to bolster safety standards for varying load carrying operations.
DUBAI, UAE / ACCESSWIRE / August 19, 2020 / The global telehandlers market is expected to cross a US$ 6 Bn valuation in sales through the period between 2020 and 2030. The ongoing covid-19 pandemic has had a negative impact on the industry owing to lockdown restrictions imposed by governments in multiple industry verticals including construction, manufacturing, and port activities among others. The diverse range of applications of telehandlers will enable a strong recovery of the market towards 2021.
"Growing awareness about emissions from heavy load industrial equipment, in addition to strict emission standards is generating major growth opportunities for the sales of electric telehandler options. Low noise levels and better operator comfort key characteristics of new electric models to meet growing global demand," says the FMI analyst.
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Telehandlers Market - Primary Takeaways
- Compact telehandlers are rapidly becoming mainstream, supported by benefits of multi-tasking and maneuverability in manufacturing industry applications.
- Rental and leasing business models have gained importance, owing to easier access to high cost equipment with new technologies.
- The North American telehandlers market is reflecting strong growth owing to major public and private investments into construction and infrastructure projects in the region.
Telehandlers Market - Growth Factors
- Growth in the popularity of leased equipment services, is a key factor boosting application of telehandler equipment.
- Niche applications in port cargo handling and mining sectors are generating lucrative growth opportunities.
Telehandlers Market - Major Constraints
- Prohibitive initial purchase costs and maintenance expenses are key factors hindering sales.
- Shortage of adequately trained operators for telehandler functions will reduce market prospects.
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The Projected Impact of Coronavirus
The coronavirus outbreak is estimated to have a strong short-term impact on the prospects of the telehandler market. Suspension and limitations on activity within the construction and manufacturing sectors during lockdowns have curtailed demand for telehandlers. In addition, restrictions on international trade has reduced applications of telehandlers in port facilities, hurting market prospects. Vehicular automation is likely to gain importance during this period, with key emphasis on load stabilization functionality.
Competition Landscape
The telehandlers market comprises players including but not limited to Xtreme Manufacturing LLC, Terex Corp., Wacker Neuson SE, Haulotte Group, CLAAS KGaA GmbH, Oshkosh Corp., Doosan Bobcat, Linamar Corp., MAGNI Telescopic Handlers Srl, and JC Bamford Excavators Ltd.
Players in the telehandlers market are pushing for business expansion through product launch strategies with electric offerings and improvements to functionality to bolster sales and revenue.
For instance, CLAAS KGaA GmbH has added a new 9-meter telehandler to its Scorpion range with improvements made to lift capacity. JCB CEA has released its new range of Loadall Series 3 telehandlers, primarily aimed towards agricultural applications. Further, Bobcat Equipment South Africa has unveiled its 17m T40180 telehandler which features Aggravating Movements Arrestor safety system for stability control.
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More About the Study
The FMI study provides detailed insights on telehandlers market. The market is broken down in terms of maximum lift height (up to 30', 30' to 60', and more than 60'), and ownership (rental service providers and end use industries) across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
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SOURCE: Future Market Insights
View source version on accesswire.com:
https://www.accesswire.com/602383/Telehandlers-Market-to-Face-Short-Term-Slump-in-Demand-Owing-to-Trade-and-Construction-Sector-Disruptions-During-Covid-19-Outbreak-says-Future-Market-Insights
