Global Telehandler Market 2018-2022 | Modularity of Telehandlers to Augment Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 3, 2018--The global telehandler market is expected to post a CAGR of nearly 6% during the period 2018-2022, according to the latest market research report by .
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Technavio has published a new market research report on the global telehandler market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing need for bulk material handling in agriculture and livestock farming. Agriculture yield has been increasing steadily across the world. The use of high-yield crops such as genetically modified crops, improvements in irrigation practices, and the rising use of fertilizers and information technology services have increased the agricultural yield per hectare of all major crops. The rising volume of agricultural produce increases the need for telehandlers for agriculture applications. Telehandlers are preferred over tradition tractor loaders and wheeled loaders in agriculture applications as they have extendable arms or booms, which enable the loading of high-sided trucks and trailers.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the modularity of telehandlers as one of the key emerging trends in the global telehandler market:
Global telehandler market: Modularity of telehandlers
Some of the players in the market are using modular designs to manufacture telehandlers. Modularity allows various construction equipment such as telehandlers to share common subassemblies, which results in the standardization of the manufacturing process and improves production flexibility and product quality. Modularity also reduces production costs as players realize the benefits of economies of scale.
“Modular designs also reduce the time elapsed between the conception and production of telehandlers. Hence, products can be launched quickly in the market. Modularity also reduces aftermarket challenges as fewer variations between different construction equipment reduces the investments required to train employees. At the same time, the quality of service and maintenance also improves due to commonality between different machines,” says a senior analyst at Technavio for research on automotive manufacturing.
Global telehandler market: Segmentation analysis
This market research report segments the global telehandler market by applications (construction, agriculture, and industrial) and geographical regions (APAC, EMEA, and the Americas).
The construction segment held the largest market share in 2017, accounting for nearly 42% of the market. This application segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2017 with a market share of nearly 51%. This region is expected to dominate the market through 2022, however there will be a decrease in its market share by nearly 1%.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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PUB: 10/03/2018 03:47 PM/DISC: 10/03/2018 03:47 PM