Market research and competitive intelligence provider Fact.MR anticipates an increase in sales of rough terrain trucks in 2021 and beyond. According to Fact.MR’s report, growth is slated to appear elevated in 2021 and beyond. Staving off of COVID-19 induced recessionary pressures have restored projections across core industries such as mining and construction, two main end-users of rough terrain lift trucks.
This report examines the global sales of rough terrain lift trucks from 2016 to 2020. A market forecast is provided for the year 2021-2031.
Notable Developments in the Rough Terrain Lift Trucks Industry
In May 2021, Leavitt Machinery acquired Provincial Lift Truck Inc. With this acquisition, Leavitt Machinery will have greater internal resources and infrastructure to enable future growth in Canada. Furthermore, the acquisition will help to strengthen the business’s market presence in the Canadian and North American regions.
Likewise, On July 13, 2020, Eastern Life Truck Co., Inc. purchased McCall Handling Co., one of the oldest Hyster forklift dealers in the country. With this acquisition, Eastern became the sole designated Hyster forklift dealer in various countries.
The acquisition will double the company's market revenue, expand its presence in the sub-American continent, and increase its service abilities. The business will grow in Maryland, Delaware, Washington DC, Northern Virginia, Berkeley, and Morgan counties.
Furthermore, Eastern's Baltimore operations will move to McCall's former facility at 8801 Wise Avenue. Suite #200, Dundalk, MD 21222 and remodel 2211 Sulphur Spring Rd., Halethorpe, MD 21227 into a hub for its growing dock and door division. Both companies aim to improve their leasing and release featured products in the market by 2025.
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Rough Terrain Lift Trucks: Market Introduction
Rough terrain lift trucks are industrial trucks used in lifting and transferring material from one elevation to another over short distances. Also known as telehandlers or telescopic handlers, rough terrain forklifts offer enhanced workability.
Rough terrain lift trucks are equipped with either a telescopic boom or a vertical mast similar to industrial forklift trucks that extend upward and forward from the vehicle. Rough terrain lift trucks are designed to use on rough and unpaved surfaces and are suitable to be used for construction, industrial, and agricultural applications.
Depending upon work requirements, the operator can fix different attachments on the boom of rough terrain lift trucks. The different attachments, such as bucks and pallet forks, render the machine highly versatile.
Owing to such flexibility to attach different attachments depending on work requirement, the demand for rough terrain lift trucks market is expected to register a significant market growth during the forecast period.
Rough Terrain Lift Trucks Market: Regional Outlook
The global rough terrain lift trucks market is divided into different regions namely North America (U.S., Canada), Latin America (Brazil, Mexico and rest of Latin America), and Europe (Spain, UK, France, Germany, and Russia).
Other regions are East Asia (China, Japan and South Korea), South Asia (Thailand, India, Malaysia, Indonesia, and Rest of South Asia), MEA (GCC, North Africa and South Africa), and Oceania (New Zealand and Australia).
During the forecast period, technological advancements and prominence of automation in the construction equipment industry are likely to open attractive growth frontiers across North America and Europe.
At the same time, due to surging infrastructure and industrial development in India, China, and the ASEAN countries, demand for rough terrain lift trucks is increasing significantly across East Asia and South Asia respectively.
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Rough Terrain Lift Trucks: Prominent Players
Main players operating in the global market are as follows:
- CNH Industrial N.V.
- AB Volvo
- J C Bamford Excavators Ltd.
- Liftking Manufacturing Corp.
- Load Lifter
- Komatsu Ltd.
- Deere & Company
The research report presents a comprehensive assessment of the market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The market report provides analysis and information according to market segments such as type, lifting height, loading capacity, and end-user.
The Rough Terrain Lift Trucks Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved
- Value Chain
An Adaptive Approach to Modern-day Research Needs
Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Rest of Latin America)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- East Asia (Japan, China, South Korea)
- South Asia (India, Thailand, Malaysia, Indonesia, Philippines, Rest of South Asia)
- Oceania (Australia, New Zealand)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The market report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various factors on market segments and geographies.
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Rough Terrain Lift Trucks: Segmentation
The global market is segmented on the basis of type, lift height, loading capacity and end user.
Based on type, the global market is segmented as:
- Masted Rough Terrain Lift Truck
- Telescopic Rough Terrain Lift Truck
Based on lift height, the global market is segmented as:
- 5 – 6 meter
- 6.1 – 7 meter
- than 7 meter
Based on loading capacity, the global market is segmented as:
- Less than 1500 Kg
- 1500 – 3000 Kg
- More than 3000 Kg
Based on end user, the global market is segmented as:
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