The global telehandlers market for construction industry to grow at a CAGR of 5.17% during the period 2017-2021.
The report, Global Telehandlers Market for Construction Industry 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is increased adoption of hybrid telehandlers. Challenges with the availability of fossil fuels have prompted manufacturers to develop new technologies such as hybrid telehandlers and electric telehandlers. As telehandlers can be used for various operations, manufacturers have been constantly upgrading and innovating to improve their fuel efficiency.
According to the report, one driver in the market is growth in infrastructure development. Infrastructure development has a direct impact on various sectors of the global economy. The need for better infrastructure leads to a high demand for telehandlers, as they can be useful in a wide range of construction activities. The worldwide construction industry is continuously recovering after having gone through a long period of slowdown in the wake of the financial crisis.
Further, the report states that one challenge in the market is lack of skilled and qualified telehandler operators. Although telehandlers are versatile equipment, they have limitations. With their reach and capacity increasing, many accidents have taken place due to improper use of the equipment. There is dubiety in training and safety standards of telehandlers, which has increased the risk of hazardous accidents. Equipment dealers and contractors are reporting a shortage of skilled manpower. This is directly affecting their productivity.