Los Angeles, United States, October 09, 2019 –Telehandlers continue to be a smart choice for industries such as agriculture and construction due to their versatile functions. Intensifying food security issues and depleting arable land has created a massive pressure on farmers to increase their yield. Thus, growing need for efficient agricultural practices and processes has augmented the demand for telehandlers in recent years.
The new report published by QY Research, titled, “Global Agricultural Telehandler Market Report, History and Forecast 2014-2025,” provides a detailed analysis of the key trends and developments that are expected to impact the market outlook throughout the forecast period. According to the report, the global agriculture telehandler market was valued at US$1215 mn in 2018 and will reach US$1439 mn by 2025. The market is estimated to register a CAGR of 2.4% over the forecast period.
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Demand for Efficient Material Handling to Boost Uptake for Agriculture Telehandlers
The booming demand for technologically advanced systems in the agriculture sector with rising rate of productivity is a major factor propelling the growth of the global agricultural telehandler market. The growing need for bulk material handling in agriculture is expected to fuel the growth of the market. Agriculture yield has been rapidly expanding due to increasing consumption meat, which requires fodder and forage.
Moreover, telehandlers are preferred over a conventional tractor and wheeled loaders in the agriculture sector due to their extendable booms that enable the loading of high-sided trucks. They also have an attachment such as side shift carriages and buckets to handle stacks of hay. Thus, the demand for telehandlers in agricultural applications, especially in emerging economies, is accelerating market growth.
On the other side, the high cost of maintenance of telehandlers equipment will create a negative impact on the market growth during the forecast period.
Asia Pacific Grabs Remarkable Market Share
Asia Pacific will lead the global agricultural telehandlers market because of growing agriculture sector in developing economies such as China and India. North America is also expected to be the largest market for telehandlers due to the presence of prominent players in this region and investments in development of advanced technology products.
Global Agricultural Telehandler Market: Forecast by Segments
Based on segments, the global agricultural telehandlers market is segmented into product types and applications. The application segment includes straw, forage, and others. Crab steering, two-wheel steering, four-wheel steering are the major segments of the product type.
Global Agricultural Telehandler Market: Key Players
Haulotte, JLG, Skjack, JCB, Liebherr, Caterpillar, Wacker Neuson, Doosan Infracore, Dieci, CNH, Claas, Manitou, Merlo, and Terex are the leading manufacturers that are operating in the global agricultural telehandler market.
Global Agricultural Telehandler Market: Competitive Landscape
The market is highly fragmented with companies focusing on adopting various strategies to gain competitive advantage. The report provides a complete analysis of the market’s competitive landscape and the products that allows the clients to measure market potential and develop innovative strategies to strengthen their position in the global market.
● Increasing demand for telehandlers in the agriculture sector propels the market
● Asia Pacific to attain the largest market share in global agricultural telehandler market
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