The Business Research Company's Telescopic Boom Forklift Truck Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 9, 2024 /EINPresswire.com/ -- The telescopic boom forklift truck market has experienced robust growth in recent years, expanding from $3.72 billion in 2023 to $4.07 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to military conflicts, naval modernization, submarine proliferation, defense budgets, national security concerns, underwater threat awareness.

Strong Future Growth Anticipated
The telescopic boom forklift truck market is projected to continue its strong growth, reaching $5.6 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to global security challenges, unmanned underwater systems, naval modernization plans, environmental considerations, arctic security.

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Growth Driver Of The Telescopic Boom Forklift Truck Market
The growing construction industry is expected to propel the growth of the telescopic boom forklift truck market going forward. The construction industry refers to the sector of manufacturing and trade that is concerned with building, maintaining, and repairing infrastructure. In construction industry, telescopic boom forklift truck machines are used to lift and move heavy loads of construction materials, such as steel beams, bricks, and concrete blocks, to heights and distances.

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Major Players And Market Trends
Key players in the telescopic boom forklift truck market include Caterpillar Inc., J C Bamford Excavators Ltd., JLG Industries Inc., Terex Corporation, Manitou Group, Wacker Neuson SE.
Technological advancements are a key trend gaining popularity in the telescopic boom forklift truck market. Major companies operating in the telescopic boom forklift truck market are adopting new innovative products to sustain their position in the market.

Segments:
1) By Power Source: Electric, Fuel, Hybrid
2) By Lift Height: Less Than 20 Feet, 20 feet To 50 Feet, 50 feet To 70 Feet, Above 70 Feet
3) By End-User Industry: Construction, Utility, Logistics And transportation, Other End Users

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the telescopic boom forklift truck market in 2023. The regions covered in the telescopic boom forklift truck market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Telescopic Boom Forklift Truck Market Definition
A telescopic boom forklift truck refers to a versatile material handling machine that combines the capabilities of a forklift and a crane. It is equipped with a telescopic boom that can extend and retract to reach high places or far distances. It is used in construction, agriculture, landscaping, and mining.

Telescopic Boom Forklift Truck Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Telescopic Boom Forklift Truck Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on telescopic boom forklift truck market size, telescopic boom forklift truck market drivers and trends, telescopic boom forklift truck market major players, telescopic boom forklift truck competitors' revenues, telescopic boom forklift truck market positioning, and telescopic boom forklift truck market growth across geographies. The telescopic boom forklift truck market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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