Demand for Two-Wheeled Hand Truck to Soar with High Growth Observed In Asia Pacific

October 08 14:36 2021
Demand for Two-Wheeled Hand Truck to Soar with High Growth Observed In Asia Pacific
Industrial Trucks Market
Global Industrial Trucks Market Is fragmented and is slated to grow at a value CAGR of 6% over the forecast period (2020-2030)

 Industrial trucks sales are likely to recover in 2021, following broader cues, according to a new study by FactMR. or industrial trucks market. Demand is likely to pick in APAC as many countries in the region have been relatively less impacted by the pandemic, and economic recovery has commenced.

The study finds that sales for electric power source trucks and counterbalanced lift trucks are expected to increase through 2021 and beyond.

“Despite Covid-19 and diminished sales of industrial trucks, the long-term view for the market remains positive,” says an Fact.MR analyst.

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Key Takeaways

  • Electric power source industrial trucks to remain lucrative.
  • Counterbalanced lift trucks sales likely to grow during the assessment period
  • Construction industry is likely to recuperate in Asia-Pacific due to increased urbanization.
  • Europe industrial truck sales in recovery mode
  • Reduced utility cost and increased productivity is likely attract opportunities for sales through 2030.

Key Restraints

  • Global economic downturn due to COVID-19 has led to diminishing opporunities
  • Due to Covid-19, lack of demand for industrial trucks curtailed the sales of manufacturing companies.

Competitive Landscape

Raymond Corporation, Komatsu Ltd., Kion Group AG, Jungheinrich AG, Hyster-Yale Material Handling Inc., Toyota Industry Corporation, Mitsubishi Caterpillar Forklift America Inc., Crown Equipment Corporation, Anhui HeLi Co. Ltd., and Clark Material Handling Co. Ltd. are some, but not limited to, of the key players profiled by Fact.MR.

In 2019, Doosan industrial vehicle announced new electric products- a stand up rider and walkie end rider. These are the first generation products that includes safety features like Guardian Stability System (GSS), LED lights and maintenance-friendly access to service points.

In 2021, Jungheinrich launched its latest automated guided vehicle, ERC 213a, for the BLG logistics to transport material supply and disposal of materials for a coating line in the Bremen logistics Centre.

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More Valuable Insights on Industrial Trucks Market

Fact.MR, in its new offering, presents an unbiased analysis of the global Industrial Trucks market. The study divulges essential insights on the Industrial Trucks market on the basis of product (hand truck, pallet jack, walkie stalker, pallet truck, platform truck, counterbalanced lift truck, reach truck, turret truck, order picker, side loader, tow tractor, personnel and burden carrier, automatic guided vehicle), power source (electric, conventional, manual), capacity (below 2.5 tons, and above 2.5 tons), end-use (logistics, retail, and manufacturing), and across six major regions.

Key Questions Covered in the Report

  • What will be the market outlook for the global Industrial Trucks market in the forecast period?
  • Which strategies should the key players adapt to boost their supply-chain network?
  • How will the emerging economic scenario will affect the key market drivers?
  • What will be the challenges that key players would face due to Covid-19?
  • Which are the prominent Industrial Trucks manufacturers?

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