According to a report from ResearchAndMarkets, the Global rough terrain lift truck market will grow at a CAGR of 2.14% from 2018 to 2022.

The rising adoption of telematics will be a key trend driving the growth of the market. Stakeholders in the construction industry implement technological advances to adopt to changing economic scenarios and improved efficiency. Telematics is gaining prominence as it aids in fleet tracking and managing vehicles.

According to the report, increased government spending on infrastructure will drive market growth as well. The increased spending on public infrastructure will also stabilize the national economies and facilitates its growth. This also will provide employment opportunities and ensure delivery of important services such as energy, housing and safe water.

Further, the report states that increasing equipment rental will impact market growth. Construction machinery is very expensive and requires high initial investment and is not feasible for low-scale projects or for short duration. Numerous construction companies are renting their machinery based on period or requirement of projects.