While the COVID-19 pandemic that has left many industries struggling, experts predict that the global telehandler market is actually set to grow 25% over the next seven years.
According to a report from Global Industry Analysts, the current market is valued at US$5.3 billion. That number is expected to grow to US$7.1 billion by 2027, with a compound annual growth rate of 4.2% over that period.
With the industry set to expand rapidly, it’s no surprise that the report named Merlo as one of the main industry leaders set to capitalize on the burgeoning market growth. Merlo has an unmatched commitment to safe, versatile and productive telehandlers. While competitors typically invest just 2% of their revenue back into research and development, Merlo invests 8.8%. This allows them to continue to innovate the industry with advancements in visibility, attachments and comfort.
The report took into account the pandemic, and added that the market for telehandlers of less than 30 feet is projected to have a 4.1% annual growth rate and attain a global market value of US$1.7 billion by 2027. Similarly, telehandlers between 30-60 feet are expected to have an annual growth of 4.2% over the same period.
Canada, along with Japan, China, the USA and Europe, is anticipated to contribute to a 3.9% annual growth rate of the 30-60 feet telehandler market growth. These five markets currently hold a market size of US$797 million, with that value expected to top US$1 billion by 2027.
As telehandlers continue to become more technologically advanced and versatile, it makes sense that their use would also increase. This applies directly to Merlo, since their machines are able of replace the capabilities of multiple other types of handling, lifting and loading heavy equipments.
Manulift, the official distributor of Merlo in Canada, is set to meet the demands of the market by providing customers with in-depth knowledge of every telehandler in its inventory. From agricultural needs to building houses and clearing snow, Manulift knows exactly what machine works best for any job.
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