Global Telescopic Boom Forklift Truck Market By End-user industry (Construction, Utility, Logistics & transportation, Others), By Lift height (Less than 20 feet, 20 feet to 50 feet, 50 feet to 70 feet, Above 70 feet), By Power source (Electric, Fuel, Hybrid): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global telescopic boom forklift truck market was valued at $3,411.2 million in 2021, and is projected to reach $7,325.9 million by 2031, registering a CAGR of 7.7% from 2022 to 2031.
A telescopic forklift is a type of machine used to lift pallets or other objects to heights using a telescopic arm. It resembles a forklift but has a boom that makes it more similar to a crane. It is widely used in agriculture, construction, and logistics & transportation industries.
Rise of automation in the industry to increase productivity is a major factor expected to boost the global telescopic boom forklift truck market. Most industries are adopting Industry 4.0 and a trend of automation that improves productivity. This is anticipated to increase the demand for forklifts to move products. Further, increased construction and infrastructure development around the globe can stimulate the demand for forklifts. In addition, governments are focused to develop infrastructure for economic development. This requires a forklift for the movement of heavy loads at the construction site. This is expected to drive the global telescopic forklift truck market.
The market is segmented on the basis of power source, lift height, end-user industry, and region. On the basis of product source, the market is divided into electric, fuel, and hybrid. By lift height, the market is divided into less than 20 feet, 20 feet to 50 feet, 50 feet to 70 feet, and above 70 feet. On the basis of end-user industry, the market is divided into construction, logistics & transportation, utility, and others. Region wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
COMPETITION ANALYSIS
The key players operating in the telescopic boom forklift truck market are Terex Corporation, Caterpillar, J C Bamford Excavators Ltd., JLG Industries, Manitou Group, Wacker Neuson SE, Liebherr-International AG, DIECI Srl, Merlo S.p.A., and Linamar Corporation.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging market trends and dynamics.
In-depth market analysis is conducted through market estimations for key market segments between 2022 and 2031.
Extensive analysis of the telescopic boom forklift truck market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The telescopic boom forklift truck market forecast analysis from 2022 to 2031 is included in the report.
The key players within telescopic boom forklift truck market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the telescopic boom forklift truck industry.
Key Market Segments
By End-user industry
Construction
Utility
Logistics transportation
Others
By Lift height
20 feet to 50 feet
50 feet to 70 feet
Above 70 feet
Less than 20 feet
By Power source
Electric
Fuel
Hybrid
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Spain
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Caterpillar
J C Bamford Excavators Ltd.
JLG Industries
Terex Corporation
Manitou Group
Wacker Neuson SE
Liebherr-International AG
DIECI Srl
Merlo S.p.A
Linamar Corporation
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