The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The expanding construction industry is likely to stimulate innovation in the manufacturing of telescopic boom forklift trucks, propelling the market during the forecast period.

The global telescopic boom forklift truck market is expected to grow from $3.39 billion in 2022 to $3.72 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The global telescopic boom forklift truck market size is expected to reach $5.15 billion in 2027 at a CAGR of 8.5%.

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Global Telescopic Boom Forklift Truck Market Segments Include:

• By Power Source: Electric, Fuel, Hybrid
• By Lift Height: Less Than 20 Feet, 20 feet To 50 Feet, 50 feet To 70 Feet, Above 70 Feet
• By End-User Industry: Construction, Utility, Logistics And transportation, Other End Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global telescopic boom forklift truck market in 2021.

Major Market 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, Liebherr-International AG, DIECI Srl, Merlo SpA.

Product innovation is a significant trend that is gaining traction in the telescopic boom forklift truck market. To maintain their market position, major firms in the telescopic boom forklift truck industry are introducing new creative products. JLG Industries Inc., a US-based manufacturing company, for example, unveiled the JLG 670SJ self-leveling boom lift technology for telescopic boom forklifts in November 2022. The JLG 670SJ Self-Leveling Boom Lift is a diesel-powered telescopic boom lift designed for construction, maintenance, and industrial use. Even when operating on rough terrain, this device automatically adjusts the platform’s position to maintain a level working area. This model includes sophisticated safety and productivity features to assist operators in working more efficiently. This technology detects changes in the angle of the boom and adjusts the platform position accordingly. These sensors, which are placed at the base of the boom, give a signal to the hydraulic system of the lift.

The Telescopic Boom Forklift Truck Global Market Report 2023  provides a telescopic boom forklift truck market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The telescopic boom forklift truck market forecast analyzes telescopic boom forklift truck market size, telescopic boom forklift truck market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A telescoping boom forklift truck is a versatile material handling machine that combines forklift and crane capabilities. It has a telescoping boom that can extend and retract to reach high spots or travel long distances. It is utilised in a variety of industries including building, agriculture, landscaping, and mining.

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