Telehandler Market Size - By Product (Large Telehandler, Compact Telehandler), By Type (Electric, Engine Powered), By Application (Rental, Construction & Mining, Agriculture, Industrial), Regional Insights & Forecast, 2023-2032

Telehandler Market Size - By Product (Large Telehandler, Compact Telehandler), By Type (Electric, Engine Powered), By Application (Rental, Construction & Mining, Agriculture, Industrial), Regional Insights & Forecast, 2023-2032

Telehandler market size is predicted to witness over 11% CAGR during 2023 and 2032 primarily propelled by the rapid urbanization and industrialization across developing economies. With the emphasis on safety regulations and ergonomic designs, there is wider adoption of telehandlers as they offer enhanced operational safety and efficiency.

The versatility of telehandlers, enabling them to perform multiple tasks on construction sites, warehouses, and logistics centers, has also contributed significantly to their growing demand. In January 2023, Genie released its new GTH-1256 telehandler that has been designed to improve the durability and maximize the productivity. This is one of the highest capacity telehandlers by the company that is exclusively designed for the construction sector.

The overall telehandler market is divided based on product, type, application, and region.

The large telehandlers segment is expected to witness substantial growth through 2032 owing to their ability to handle heavy loads and reach greater heights. These telehandlers are extensively used in large-scale construction projects, infrastructure development, and industrial applications. Their superior lifting capacity, extended reach, and enhanced stability make them indispensable for handling complex and demanding tasks. Moreover, the integration of advanced features and technologies has further augmented the efficiency and productivity of large telehandlers, making them a preferred choice for handling heavyweight materials in diverse applications.

The agriculture segment is anticipated to generate high revenues by 2032 due to the ability of telehandlers to handle various farming tasks efficiently. These machines are widely used for tasks such as loading and unloading agricultural materials, handling feed and crops, and performing various material handling operations on farms. With the increasing focus on mechanization and improving agricultural productivity, the demand for telehandlers in the agriculture segment will surge, driven by their versatility, maneuverability, and ability to operate in diverse farming environments.

Asia Pacific telehandlers market size will record strong growth rate during 2023-2032, fueled by rapid industrialization, infrastructure development, and the expanding construction sector in countries such as China, India, and Japan. The growing investments in urban development projects, coupled with the rising emphasis on modernizing material handling operations, are driving the demand for telehandlers in the region. Moreover, the increasing adoption of advanced technologies and the introduction of favorable government initiatives to boost infrastructure development are further propelling the growth of the telehandler market in the Asia Pacific region.