Platform Truck Opportunity Analysis and Industry Forecast up to 2031

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Platform Truck market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Platform Truck

The report offers actionable and valuable market insights of Platform Truck. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Platform Truck Market across various industries and regions.

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This newly published and insightful report sheds light on Market Insights of Platform Truck, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Platform Truck Market.

The global industrial trucks market was estimated to reach a valuation of US$ 20 Bn by 2020 end. However the most visible impact of COVID-19 has been on the automotive sector. Presently sales of industrial trucks have plummeted considerably with manufacturers scrambling to secure some capital or investor money to circumvent the crisis. Despite this, the long term outlook for the industrial trucks market looks good with the market pegged to surpass US$ 37 Bn by the end of the forecast period (2020-2030).

The COVID-19 outbreak has majorly impacted the OEMs and other players in the global industrial trucks market. Multiple end-use industries such as automotive, aerospace, and construction are shut due stringent lockdowns. This has resulted in dampened demand for industrial trucks. The demand for industrial trucks is at best moderate in the pharmaceutical and chemical industries. On a more positive note, countries like China, India, and Italy have reopened their production plants, resulting in a V-shaped recovery in the industrial trucks market through 2030.

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Key Takeaways of Global Industrial Trucks Market Study:

• The electric power source segment is estimated to account for more than 50% of the overall industrial trucks sales in 2020.
• In the product segment, competition will steam up between sit-down and stand-up counterbalance industrial trucks through 2030.
• Industrial trucks below 2.5 tons will continue their foray in the industrial trucks market, gaining 180 BPS in its market share by the end of 2030.
• Europe is foreseen to remain a prominent region, accounting for more than 35% of the global share in the industrial trucks market.

“Globally, industrial trucks sourcing might get dearer due to disturbances within supply chains.  Industrial trucks manufacturers will delay new launches by at least a few quarters amidst COVID-19, which in turn will hamper demand prospects of industrial trucks”opines the Fact.MR analyst.

Expansion & Product Launches in Long Term to Spur Regional Hegemony

Fact.MR reveals some of the key renowned players in the industrial trucks market such as Raymond Corporation, Komatsu Ltd., Kion Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Toyota Industries Corporation (TICO), Crown Equipment Corporation, Godrej, Doosan Industrial Vehicle Co. Ltd., and others. The companies are emphasizing on seeking new orders from emerging countries along with the launch of new products to cater to the demand from end users. For Instance,

• In 2019, Jungheinrich AG launched the latest version of its extra slender electric tow tractor, the EZS 130 at InterAirport. With a width of merely 600 mm, the truck is designed to be a space-saving tagger train for the maneuverable transportation of small parts.
• In 2019, the Hangcha group launched a series of medium level order pickers with a total load capacity of 1100 lbs. The company launched this product specifically for the American market to collect new orders and generate sizeable revenue pools.
• In 2019, Kion Group AG pursued its growth strategy with the construction of a new industrial truck plant in Ko?baskowo, near Szczecin, Poland. The additional plant in Poland will complement the existing production facilities of the KION Group across Europe.

Key Segments of the Industrial Trucks Market

Fact.MR’s study on the industrial truck market offers information divided into four important segments – product, power source, capacity, end-use, and regional analysis. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

Product

• Hand Truck
  • Two-Wheeled Hand Truck
  • Dolly
  • Floor Hand Truck
• Pallet Jack
  • Manual Pallet Jack
  • Powered Pallet Jack
• Walkie Stacker
  • Manual Walkie Stacker
  • Powered Walkie Stacker
• Pallet Truck
• Platform Truck
  • Walkie Platform Truck
  • Rider Platform Truck
• Counterbalanced Lift Truck
  • Sit-Down Counterbalanced Lift Truck
  • Stand-Up Counterbalanced Lift Truck
• Reach Truck
• Turret Truck
  • Operator-Down Turret Truck
  • Operator-Up Turret Truck
• Order Picker
• Sideloader
• Tow Tractor
• Personnel And Burden Carrier
• Automatic Guided Vehicle (AGV)
  • Tow AGV
  • Unit Load AGV
  • Unit Load AGV
  • Light Load AGV
  • Fork AGV

Power Source

• Electric
• Conventional (IC Engine)
• Manual

Capacity

• Below 2.5 Tons
• Below 2.5 Tons

End Use

• Logistics
• Retail
• Manufacturing
  • Food & Beverages
  • Automotive
  • Pharmaceutical
  • Chemical General Manufacturing
  • Aerospace & Defence

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

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Key Question answered in the survey of Platform Truck market report:

• Sales and Demand of Platform Truck
• Growth of Platform Truck Market
• Market Analysis of Platform Truck
• Market Insights of Platform Truck
• Key Drivers Impacting the Platform Truck market
• Which are the Key drivers impacted by Platform Truck market
• Restraints Shaping Market Growth
• Market Survey of Platform Truck

More Valuable Insights on Platform Truck Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Platform Truck, Sales and Demand of Platform Truck, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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