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The telehandlers market share for construction industry is expected to increase by USD 478.74 million from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 5.64%.
This telehandlers market research report for construction industry provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers telehandlers market segmentation for construction industry by application (building and infrastructure) and geography (North America, Europe, APAC, MEA, and South America). The telehandlers market report for construction industry also offers information on several market vendors, including Caterpillar Inc., CNH Industrial NV, Deere & Co., Doosan Bobcat Inc., J C Bamford Excavators Ltd., Komatsu Ltd., Liebherr-International Deutschland GmbH, Manitou Group, Oshkosh Corp., and Terex Corp. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing use of modular design is notably driving the telehandlers market growth for construction industry. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the telehandlers market for construction industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Telehandlers Market Driver for Construction Industry
Vendors are increasingly introducing modularity in their designs of telehandlers. Modularity allows various construction equipment such as telehandlers and backhoe loaders to share common assemblies and subassemblies. Thus, modularity results in the standardization of manufacturing processes, increased production flexibility of equipment, assemblies, and subassemblies; and improved product quality. Modularity also reduces production costs as vendors can achieve the benefits of economies of scale. Modular designs reduce the go-to-market time, which is the time elapsed between the conception and production of new models of telehandlers, and new telehandlers can be rapidly launched in the market. Modularity also reduces aftermarket challenges as increased standardization and decreased variations between different construction equipment reduces investments required to train employees while simultaneously improving the quality of service (QoS) and maintenance. The quality of aftermarket support is one of the key decision criteria for buyers of telehandlers. Therefore, many vendors are expected to adopt a modular design during the forecast period to gain a competitive advantage in the market.
This telehandlers market analysis report for construction industry also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the telehandlers market for construction industry encompasses successful business strategies deployed by the key vendors. The telehandlers market for construction industry is fragmented and the vendors are deploying growth strategies such as distinguishing their product and service offerings through a clear and unique value proposition.to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The telehandlers market forecast report for construction industry offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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