Telescopic Boom Forklift Truck Market advanced technology, future potential, forecast 2023-2031

Report Ocean recently announced the publication of its new report on the global Telescopic Boom Forklift Truck market. The research assesses key elements that will have a significant impact on the market throughout the anticipated time frame from both the supply and demand sides, including market drivers, restraints, opportunities, and future trends.

The worldwide Telescopic Boom Forklift Truck market study concentrates on market share and competitiveness index, which aids in assessing the contributions made by the leading player to the sector. Each company is regularly assessed using a variety of criteria, including financial insights, regional engagement, market efficiency, crucial data, product range, and segment contribution.

The global telescopic boom forklift truck market size was US$ 3.4 billion in 2021. The global telescopic boom forklift truck market size is estimated to reach US$ 6.6 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.7% during the forecast period from 2022 to 2030.

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A telescopic boom forklift truck is a mobile machine widely used for agricultural and industrial purposes. It can extend forward and upward from the vehicle, which makes it more of a crane than a forklift. Telescopic boom forklift truck comes in various models and can be configured according to weight capacities to handle light loads and heavy loads.

Factors Affecting Marketing Growth

The increase in heavy construction such as residential & non-residential buildings, bridges, roads & highways, and airports is anticipated to drive the growth of the global market.
The increase in automation in industries to enhance productivity is a major factor expected to drive the growth of the global market.
Industries are adopting Industry 4.0, which aims at increasing productivity. This market trend is expected to drive the growth of the global market.

Impact on COVID-19 Analysis

COVID-19 had rapidly spread across various countries causing an enormous impact on the lives of people and the overall community. It began as a human health condition and became a significant threat to global trade, economy, and finance. COVID-19 halted production in the telescopic boom forklift truck market due to the lockdown restrictions. However, the number of pandemic cases has reduced with the introduction of the vaccine for COVID-19. This has led to the reopening of telescopic boom forklift truck companies at their full-scale capacities.

Regional Analysis

Asia-Pacific registered the highest share in the global telescopic boom forklift truck market share in 2021, due to an increase in investment in infrastructural developments by the government. Furthermore, the majority of countries are spending on the construction sector for the growth of their economies in the region.

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Leading Competitors

The prominent players in the global telescopic boom forklift truck market are:

Linamar Corporation
Merlo S.p.A
Liebherr-International AG
Wacker Neuson SE
Manitou Group
Terex Corporation
JLG Industries
J C Bamford Excavators Ltd
Caterpillar
DIECI Srl
Others

Segmentation Analysis
The global telescopic boom forklift truck market segmentation focuses on End User, Lift Height, Power Source, and Region.

Segmentation on the basis of End User
Utility
Logistics & Transportation
Construction
Others

Segmentation on the basis of Lift Height
20 feet to 50 feet
50 feet to 70 feet
Above 70 feet
Less than 20 feet

Segmentation on the basis of Power Source
Electric
Fuel
Hybrid

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Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Key questions answered in the global market report are:

— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?

Table of Content:

• Report Overview
• Global Growth Trends
• Competition Landscape by Key Players
• Data Segments
• North America Market Analysis
• Europe Market Analysis
• Asia-Pacific Market Analysis
• Latin America Market Analysis
• Middle East & Africa Market Analysis
• Key Players Profiles Market Analysis
• Analysts Viewpoints/Conclusions
• Appendix

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