Global Material Handling Equipment Telematics Market is segmented by component (aerial work platform, forklift, crane, earthmoving equipment, truck, tractor, telehandler and others), by geography (North America, Europe, Asia Pacific, Middle East & Africa and South America)) is expected to reach US $ 7.20 Bn by 2026, at a CAGR of 11.11 %.
The earthmoving equipment is expected to grow at a XX % rate of CAGR in the global material handling equipment telematics market.
The earthmoving equipment market is the largest segment within the material handling equipment telematics market.The demand for earthmoving equipment is presently increased by various factors including the expansion of the construction industry, growing demand for equipment rental services, and the rising demand for better infrastructure facilities. The construction activity is increasing across the globe owing to the economic growth and the rising focus on infrastructure, which is expected to contribute the major market share in the global material handling equipment telematics market. The growing focus on infrastructure is promising investments and driving the number of infrastructure projects is expected to boost the requirement for construction equipment and heavy equipment like Road Work Vehicle, Self-propelling AG machine.
The Asia Pacific is projected to be a leading region in the global material handling equipment telematics market.
The Asia Pacific is expected to share significant growth in the global material handling equipment telematics market. The increasing demand for the off-highway equipment thanks to remarkable advancements introduced in networking technologies, increasing investments in the infrastructure development sector, and growing regulatory mandates relating to fuel emissions. The growing adoption of cloud, IoT, autonomous vehicles, and mobility solutions in the region is expected to boost the growth of the Asia Pacific material handling equipment telematics market. Rising construction activities in emerging economies like India and China are providing a momentous push to market growth. Many of the construction projects under the initiative by the government are expected to create enormous demand for construction equipment during the forecast period.
Key players operating in the global material handling equipment telematics market includes tomtom international BV, Teletrac Navman US Ltd., Zonar Systems, Caterpillar, Mitsubishi Forklift Trucks, Hiab, Konecranes, Cat Lift Trucks, Trackunit A/S, Doosan Corporation, the Raymond Corporation, Hyundai Construction Equipment Co. Ltd, Toyota Material Handling USA, JLG Industries, ZTR Control Systems LLC. Mahindra Construction Equipment, Clark, MiX Telematics, OBn itracs and Orbcomm.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global material handling equipment telematics market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global material handling equipment telematics market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Material Handling Equipment Telematics Market positioning of competitors.
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