According to the recent research report titled ‘Telehandler Market Size By Product, By Type, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020-2026’, available with Market Study Report, global telehandler market is reckoned to witness notable gains during 2020-2026.
 

Mounting smart city development across Middle East & Africa, escalating number of mining projects in Latin America, growing industrial sector in Asia-Pacific, and surging demand for technologically advanced telehandlers are driving the market growth. In addition, increasing infrastructural investments in North America along with proliferation of rental equipment services is also contributing to global telehandler market outlook.
 

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Notably, a telehandler machine or telescopic handler is used for moving, placing, and lifting materials, and can adapt according to various worksite tasks including cleaning up sites, moving heavy loads to inaccessible areas, moving heavy loads off trucks, ploughing snow, lifting suspended and palletized loads.
 

These machines are flexible in nature and the equipment can perform several different tasks effectively, easily, and securely with the use of various attachments, which in turn is stimulating the industry outlook. However, lack of skilled operators and high initial and maintenance cost of telehandlers may hamper the remuneration scale of worldwide telehandler market.
 

Speaking of product type, global telehandler market is segmented into compact and large telehandler. The large telehandler segment is posed to accumulate commendable returns over the study period on account of its potential to handle large material as well as height reach.
 

Based on type, the industry is bifurcated into engine powered and electric telehandler. The electric telehandler segment is projected to record a CAGR of 15% by the year 2026, owing to growing federal regulations regarding reducing vehicle emissions.
 

Elaborating on application spectrum, global telehandler market is divided into construction & mining, rental, industrial, and agriculture. The industrial segment is likely to record 5% CAGR by the year 2026 on account of shifting focus towards adopting automation solutions in manufacturing sectors.
 

Citing the regional landscape, Middle East & Africa is predicted to emerge as a lucrative growth avenue for global telehandler industry over the forecast timespan, primarily driven by surging demand from oil & gas industry. The upcoming projects in the oil & gas sector is also expected to boost Middle East & Africa telehandler industry outlook.
 

Major contenders in global telehandler market are Zoomlion Heavy Industry Science and Technology Co. Ltd., Zhejiang Dingli Machinery Co. Ltd., XCMG Group, Wacker Neuson SE, Teupen Maschinenbau GmbH, Terex Corporation (Genie), Socage S.r.l., Snorkel International Inc., Skyjack Inc., Niftylift Limited, MEC Aerial Work Platforms, Manitou Group, Liebherr Group, JLG Industries Inc., J.C. Bamford Excavators Ltd., Hunan Runshare Heavy Industry Company Ltd., Haulotte Group, Faresin Industries S.p.A., Doosan Infracore Co. Ltd., Dinolift OY, Dieci S.r.l., CTE Company, CNH Industrial N.V., and Caterpillar Inc.