Global Material Handling Equipment Telematics Market by Product (Cranes, Trucks, Forklifts, Tractors, Earth Moving Equipment) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2017, the global material handling equipment market was worth USD 3.18 billion. The market is forecast to grow at 11.7% CAGR over the forecast period. In the last few years, there have been significant changes in this industry. The industry has seen significant technological advancements over the past few years. This includes increased digitalization of material handling equipment. This allows for easy tracking of equipment performance.

OEMs are increasingly looking for equipment diagnostics data to perform predictive analytics. There have also been significant increases in regulations regarding equipment safety, user experience and operational efficiency. These trends have led to an increase in the adoption of telematics for off-highway equipment.

The overall market is seeing a boost from the increasing construction activity in emerging economies like India and China. The Belt and Road Initiative (BRI) was announced by the Chinese government in 2013. It is also known as One Belt One Road (OBOR), and is an ambitious project that aims to connect China overland with Europe, Africa, and the Middle East via highways, railways and ports. The initiative includes several construction projects that will likely create a huge demand for construction equipment during the forecast period.

The potential growth prospects for the construction industry, which accounts for more than 50% of the market, are promising. Telematics solutions for material handling equipment have helped to monitor trends in equipment usage and provide safety and security for operators.

Cost savings have been realized due to improved equipment performance and new product features like driver monitoring, predictive maintenance, fuel management, fleet analytics, and driver monitoring. These benefits will encourage material handling equipment adoption in the near future. Market development will be influenced by the need for lower costs and increased productivity in a highly competitive market. To provide better results for their customers, OEM telematics devices will be installed by vehicle OEMs.

To implement such connected technology, you need a strong networking infrastructure that allows for seamless connectivity and the transfer of real-time data. The main factor that is hindering the growth in the off-highway equipment and telematics market is the lack of an adequate network infrastructure, particularly in developing countries like India and Brazil. Cyber-attacks and data loss can also hinder the market's potential.

Product Insights

The market can be divided into several product segments: aerial work platform; forklift, crane; earthmoving equipment; truck, tractor, and telehandler. The truck telematics segment accounted for the largest market share in 2017. The forecast period will see a 15.0% CAGR.

The rise in truck sales is expected to be aided by improvements in road infrastructure and a rising demand from the ecommerce sector for goods transport. This will lead to an increase in the use of telematics solutions in trucks. The rising use of telematics devices on trucks will lead to an increase in data collection pertaining to driver behavior, vehicle location and engine diagnostics. This could open up new opportunities for those in the material handling equipment market.

This technology is being used in an increasing number of earthmoving equipment, such as articulated wheel loadsers, road vehicles and spreaders. It helps to increase job-site productivity, track equipment usage, and enable preventive maintenance. The segment of earthmoving equipment and telematics accounted for over 20% of total revenue in 2017. It is expected to continue growing at a significant CAGR during the forecast period.

Regional Insights

In 2017, North America held the largest market share. It is characterized by the presence of technologically-advanced firms that make investments for the development of autonomous vehicles technologies, networking solutions, and IoT-enabled services. The region's growth is due to its strong IT infrastructure, high speed networks, and rapid adoptions of new technologies. Over the forecast period, the regional market will experience a CAGR exceeding 12.0%.

The Asia Pacific telematics market for off-highway equipment is expected to grow at the highest CAGR over the same period. This is due to significant advancements in networking technologies, increased investments in infrastructure development, and increasing regulatory mandates regarding fuel emissions. The region's adoption of IoT, autonomous cars, cloud and mobility solutions is expected to benefit its growth.

Market Share Insights & Key Companies

There are both large-scale and small-scale providers of telematics solutions for material handling equipment. TomTom International BV and ORBCOMM are the major players in this market.

To remain competitive in this highly competitive market, these companies invest heavily in R&D to create new telematics solutions. Off-highway equipment solution providers for telematics are also focusing on strengthening their regional presence through collaboration with other players that offer similar products and services. This will allow them to increase their market presence and gain a competitive edge over their competitors.

Telematics Market Report on Material Handling Equipment Scope

The Report Covers Certain Segments

This report forecasts revenue growth at both the country and global levels. It also provides analysis of industry trends for each sub-segment from 2014 through 2025. Grand View Research segmented the global material handling equipment market report by region and product.

• Product Outlook (Revenue USD Million, 2014-2025)

  • Aerial Work Platform

  • Forklift

    • Forklift Mounted Truck Mounted

    • Articulated Forklift

    • Side Loader

    • Other

  • Crane

    • Port Crane

    • Truck-mounted crane

    • Other

  • Earthmoving Equipment

    • Spreader

    • Loader for Articulated Wheels

    • Farm implements

    • Road Work Vehicle

    • Self-propelling AG machine

    • Other

  • Truck

    • Military Vehicle

    • Trailer

    • Other

  • Tractor

    • Terminal Tractor

    • Tow tractor

    • Other

  • Telehandler

  • Other

    • Sweeper & Scrubber

    • Personnel & Burden Carrier

    • Light Station/Power Generation

    • Other

• Regional Outlook (Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

Up Market Research published a new report titled “Material Handling Equipment Telematics Market research report which is segmented by Product (Cranes, Trucks, Forklifts, Tractors, Earth Moving Equipment), By Players/Companies TomTom International BV, MiX Telematics, Omnitracs, Teletrac Navman US Ltd, Zonar Systems, ORBCOMM”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Material Handling Equipment Telematics Market Report Segments:

The market is segmented by Product (Cranes, Trucks, Forklifts, Tractors, Earth Moving Equipment).

Material Handling Equipment Telematics Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Material Handling Equipment Telematics Market

Overview of the regional outlook of the Material Handling Equipment Telematics Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Material Handling Equipment Telematics Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Material Handling Equipment Telematics Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Cranes

                2. Trucks

                3. Forklifts

                4. Tractors

                5. Earth Moving Equipment

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Material Handling Equipment Telematics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Material Handling Equipment Telematics Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.