Global Telescopic Boom Forklift Truck Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
19 Jul, 2023
The global telescopic boom forklift truck market size is expected to grow from $3.39 billion in 2022 to $3.72 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global telescopic boom forklift truck market size is expected to reach $5.15 billion in 2027 at a CAGR of 8.5%.
Global Telescopic Boom Forklift Truck Market Key Driver
The expanding construction industry is projected to drive future growth in the telescopic boom forklift truck market. The construction industry is the manufacturing and trade sector dealing with the construction, maintenance, and repair of infrastructure. Telescopic boom forklift truck machines are used in the construction industry to lift and transfer huge loads of construction materials such as steel beams, bricks, and concrete blocks to various heights and distances.
Get a sample of the global telescopic boom forklift truck market reportGlobal Telescopic Boom Forklift Truck Market Segments
The global telescopic boom forklift truck market is segmented:
1) By Power Source: Electric, Fuel, Hybrid
2) By Lift Height: Less Than 20 Feet, 20 feet To 50 Feet, 50 feet To 70 Feet, Above 70 Feet
3) By End-User Industry: Construction, Utility, Logistics And transportation, Other End Users
4) By Geography: The regions covered in the telescopic boom forklift truck market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global telescopic boom forklift truck market.
Major Telescopic Boom Forklift Truck Industry Players
Caterpillar Inc., J C Bamford Excavators Ltd., JLG Industries Inc., Terex Corporation, Manitou Group, Wacker Neuson SE, Liebherr-International AG, DIECI Srl, Merlo SpA, Linamar Corporation, Hyster-Yale Materials Handling Inc., Hangcha Group Co, Toyota Material Handling, Hefei Banyitong Science & Technology Developing Co. Ltd., Hanselmann GmbH
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Telescopic Boom Forklift Truck Market Overview
A telescopic boom forklift truck refers to a versatile material handling machine that combines the capabilities of a forklift and a crane. It is equipped with a telescopic boom that can extend and retract to reach high places or far distances. It is used in construction, agriculture, landscaping, and mining.
Telescopic Boom Forklift Truck Global Market Report 2023 provides data on the global telescopic boom forklift truck market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The telescopic boom forklift truck market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.