Telescopic Boom Forklift Truck Market Report 2026

The telescopic boom forklift truck market size has grown strongly in recent years. It will grow from $4.31 billion in 2025 to $4.64 billion in 2026 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to growth in construction activities, expansion of mining operations, increasing agricultural mechanization, demand for efficient material handling, infrastructure development projects.

The telescopic boom forklift truck market size is expected to see strong growth in the next few years. It will grow to $6.4 billion in 2030 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to smart infrastructure investments, growth in utility maintenance projects, adoption of electric and hybrid equipment, expansion of logistics hubs, rising focus on jobsite safety. Major trends in the forecast period include rising adoption of multi purpose material handling equipment, growing demand for high reach and heavy load capacity machines, increased use of safety enhanced operator assist features, expansion of rental and leasing models, preference for compact and maneuverable designs.

The expanding manufacturing industry is projected to drive the growth of the telescopic boom forklift truck market in the future. The manufacturing sector refers to the part of the economy focused on producing goods by converting raw materials or components into finished products. Telescopic boom forklift trucks are utilized in this industry to position and assemble large and heavy components during the manufacturing process, effectively lifting and transporting heavy materials. For example, in September 2024, the Office for National Statistics, a UK government department, reported that the total value of product sales by UK manufacturers reached £456.1 billion in 2023, reflecting an increase of £17.2 billion (3.9%) from £438.9 billion in 2022. Therefore, the growth of the manufacturing industry is fueling the expansion of the telescopic boom forklift truck market.

Major companies in the telescopic boom forklift truck market are concentrating on the development of innovative trucks, including reach trucks, to gain a competitive edge. A reach truck is specifically designed for narrow-aisle applications in environments such as warehouses and distribution centers. In November 2023, Hyster, a US-based manufacturer of forklifts and materials-handling equipment, launched the RO1.6-2 Reach Truck. Tailored for demanding applications in mixed indoor or outdoor operations, this robust truck features a 3-stage FFL mast, tilting, and side-shifting fork, enabling it to reach a lifting height of up to 7.5 meters.

In January 2023, JLG Industries Inc., a US-based telehandler manufacturing company, completed the acquisition of Hinowa SpA for $192 billion. This strategic move aimed to broaden JLG's product portfolio and enhance its global presence in the compact construction equipment market. Hinowa SpA, an Italy-based construction equipment manufacturing company, specializes in the production of telescopic boom forklift trucks.

Major companies operating in the telescopic boom forklift truck market are J C Bamford Excavators Limited, Manitou Group, JLG Industries Inc., Terex Corporation, Liebherr-International Aktiengesellschaft, Caterpillar Inc., Merlo S.p.A., DIECI S.r.l., Magni Telescopic Handlers S.r.l., Bobcat Company, CNH Industrial N.V., Genie Industries Inc., Haulotte Group, Pettibone Traverse Lift LLC, Gehl Company, Xtreme Manufacturing, Snorkel International Holdings LLC, HD Hyundai Infracore Co., Ltd., Wacker Neuson SE, SANY Group Co., Ltd., Zoomlion Heavy Industry Science and Technology Co., Ltd., Lingong Heavy Machinery Co., Ltd.

Asia-Pacific was the largest region in the telescopic boom forklift truck market in 2025. The regions covered in the telescopic boom forklift truck market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the telescopic boom forklift truck market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The telescopic boom forklift truck market consists of sales of straight mast forklifts, articulated boom lifts, and compact telehandlers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.