You are here
Rough Terrain Lift Truck Market : Global Major Key Players Research – Forecast to 2023
Market Research Future added New Report Named "Global Rough Terrain Lift Truck Market Research Report- Forecast 2023" to its Database
Rough terrain lift truck, also known as telescopic handler, or telehandler, is a machine widely used in construction industry. It has a single telescopic boom that can extend forward and upward from the vehicle. On the end of the boom, the operator can fit one of several attachments, such as a bucket, pallet forks, muck grab or winch. It is used to transport materials from one elevation to another.
Get Free Report Sample : https://www.marketresearchfuture.com/sample_request/7507
The global rough terrain lift truck market is anticipated to witness sustainable growth in the upcoming years which is attributed to the rapid growth of the construction industry in emerging economies such as China, India and other South Asian countries. Furthermore, high investments in the industrial construction mainly in the emerging countries such as India, and China, has led the growth of these machines in the construction industry. Moreover, the growth in the demand for rough terrain lift truck in the developing economies of Asia-Pacific and Latin America has pushed manufacturers to expand their distribution network. The construction industry has witnessed improved sales volume in India, which is largely driven by increasing population, coupled with rising disposable income levels.
Hence, the global rough terrain lift truck market is expected to witness a CAGR of around 3.4% over the forecast period. However, fluctuating cost of raw materials hampers the growth of rough terrain lift truck market.
Global Rough Terrain Lift Truck Market: Regional Analysis
Geographically, the global rough terrain lift truck market is segmented on the basis of region into North America, Europe, Asia-Pacific, and Rest of the world (RoW). North America held the largest share in the rough terrain lift truck market. The market in this region is majorly driven by technological advancements in the construction equipment industry. US is emerged to be the largest consumer of these equipment and accounted for the largest market share in terms of value and volume among all countries in the North American region.
However, Asia-Pacific is anticipated to witness maximum growth rate over the forecast period. Companies based out of the US and UK are now setting up operations in countries such as India and China, which offer tax benefits and reduced manufacturing costs. Hence, Asia-Pacific region has witnessed an overwhelming increase in the demand for rough terrain lift truck market, while most of the companies are based in Europe and North America region.
Browse Full Report : https://www.marketresearchfuture.com/reports/rough-terrain-lift-truck-market-7507
The global rough terrain lift truck market has been segmented on the basis of product, end-user, and region. The product segment is classified into telescopic rough terrain lift truck and masted rough terrain lift truck. On the basis of product, telescopic rough terrain lift truck accounted the largest share in 2017 and is expected to retain this position till 2023. The segment is also anticipated to witness a high growth rate, due to rise in industrial construction projects, which further propelled the growth of the overall rough terrain lift truck market.
On the basis of end-user, the market is divided into industrial, commercial, and residential. The industrial segment accounted for the largest market share in 2017 and is also projected to experience maximum growth rate over the forecast period. Rapid expansion of industrial sector in emerging economies such as China and India is one of the factor for the growth of this segment. In order to meet the increasing demand for construction equipment services, these countries have expanded their manufacturing capabilities in the last decades.
Key players operating in the global rough terrain lift truck market includes AUSA, J C Bamford Excavators Ltd., CNH Industrial, HARLO, Liftking Manufacturing, and many others.
Press Release Available : https://www.marketresearchfuture.com/press-release/rough-terrain-lift-truck-market
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
+1 646 845 9312
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.