Sales of Tail Lift Market to Grow 1.8x by 2027

Tail Lifts Market research study provides an extensive information of important participants, such as suppliers, manufacturers, distributors, traders, consumers, investors, etc. Tail Lifts Market study depicts an in-depth analysis on the current status of Tail Lifts Market that consists of important types, and end uses. The data type of the Tail Lifts Market study contains market revenue, import, export, progress rate, consumption, etc. Further, the study focuses on the prominent and emerging regional and global trends contributing to the growth of the global Tail Lifts Market over the stipulated timeframe.

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Fact.MR, a leading research firm, opines that the overall sales of tail lifts was pegged at more than US$ 1,000 Mn in 2018 and the global tail lift market is likely to record a strong growth during the forecast period due to transformation in the transportation and logistics infrastructure across the developed as well as developing economies. In addition, increasing adoption of automation in tail lift market along with rise in international trade are among the key trends anticipated to amplify the overall sales of tail lift over the forecast period.

Currently, East Asia holds the leading share in the global tail lift market owing to presence of better technologies and infrastructure. The region is likely to witness the similar trend during forecast years emphasized by the constant demand from commercial and industrial sectors. The rising urbanization and logistics industry in developing countries like, China, India, Mexico, Indonesia and South Korea are projected to augment the growth of the global tail lift market.

Also, automating a warehouse is among the leading trends in the industrial sector, as a majority of industries are automating a variety of processes such as delivery of goods, waste management, and loading & unloading. With the recent advancements in technologies, various manufacturing facilities are adopting automated tail lifts during transportation to improve their productivity and manufacturing efficiency. It may trigger demand for advanced tail lifts that may suit these next generation technologies in the upcoming years.

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Tail Lift Sales Remain Influenced by Regulatory Reforms

Over the historical years, many developed as well as developing countries have introduced their regulatory reforms to raise their road freight securing, ship securing and railcar securing to international standards for the protection of products. Moreover, changing end user’s expectations towards the high quality undamaged products and to deliver these, manufactures, leasing & rental companies, authorities, commercial & industrial buyers, and suppliers are likely to use highly efficient and reliable tail lifts during transportation of products. As a result, growing awareness regarding the safety and operation time span in logistics and transportation industry is likely to create enormous market opportunities in the global tail lift market over the forecast period.

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Furthermore, the manufactures have to adhere to the regulations set by regulatory bodies and governments like, Whole Vehicle Type Approval (WVTA) and Lifting Operations and Lifting Equipment Regulations (LOLER). Therefore, key manufacturers such as Cargotec Corporation, Dhollandia N.V., and Anteo are focusing on manufacturing more safer and efficient tail lifts to reduce any failures and breakdown during tail lift operations.

The Fact.MR report offers forecast of the tail lift market for the period 2019-2027. According to the report, the tail lift market is projected to record over 7% CAGR through 2027. The transportation & logistics sector continues to generate lucrative opportunities for leading industry giants to gain leading market share in the tail lift segment.

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