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Global Telehandlers Market for the Construction Industry 2019-2023 | Key Factors Driving Growth | Technavio

December 20, 2018

LONDON--(BUSINESS WIRE)--Dec 20, 2018-- analysts forecast the global telehandlers market for the construction industry to grow at a CAGR of nearly 6% during the forecast period, according to their latest market research report.

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Technavio has released a new market research report on the global telehandlers market for the construction industry for the period 2019-2023. (Graphic: Business Wire)

The increasing use of modular design concept is one of the major trends being witnessed in the . 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 leads to 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.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global telehandlers market for the construction industry is the increasing focus on improving productivity and growth of off-site manufacturing:

Global telehandlers market for the construction industry: Increasing focus on improving productivity and growth of off-site manufacturing

The global construction industry is one of the largest contributors to the global GDP. As per the World Bank Group, the industrial sector, which includes the manufacturing and construction industries contributed to 25.4% of the global GDP in 2016 out of which approximately 40% or 10% of the global GDP was contributed by the global construction industry. During the last two decades, the manufacturing industry has witnessed significant improvements in the productivity of labor due to the large-scale automation and information technology, but the productivity of labor in the construction sector is yet to improve significantly.

According to a senior analyst at Technavio, “The construction industry is one of the most labor-intensive industries and has one of the highest labor fatality rates. Therefore, new blue-collar workers do not prefer to work in this industry. Thus, the global construction industry witnesses a shortage of labor, especially in developed countries where construction activities have rapidly declined due to the global economic crisis of 2008. After this crisis, many construction workers in developed countries had to find employment in other industries. Although the construction industry in most developed countries has recovered, the availability of blue-collar workers does not meet the requirement with respect to the growth of the construction industry. Thus, to address the low productivity and shortage of labor, the global construction industry is increasingly adopting off-site manufacturing or modular constructions.”

Global telehandlers market for the construction industry: Segmentation analysis

The global telehandlers market for construction industry research report provides market segmentation by application (building and infrastructure) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The building segment held the largest market share in 2018, accounting for nearly 70% of the market. This application segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2018 with a market share of nearly 41%. This region is expected to dominate the market through 2023.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20181220005699/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 12/20/2018 12:46 PM/DISC: 12/20/2018 12:46 PM

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