Reach Trucks Market to Reach $4.08 Bn, Globally, by 2026 at 5.6% CAGR: Allied Market Research
Rise in focus toward robust and compact material handling equipment, numerous benefits associated with reach trucks, and surge in infrastructure projects globally propel the growth of the global reach trucks market
PORTLAND, Oregon, Feb. 13, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Reach Trucks Market by Load Capacity (Less than or equal to 2000 kg and More than 2000 kg) and End User (Retail & Wholesale, Logistics, Automobile, Food & Beverages, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026" According to the report, the global reach trucks industry garnered $2.58 billion in 2018, and is estimated to reach $4.08 billion by 2026, growing at a CAGR of 5.6% from 2019 to 2026.
Drivers, restraints, and opportunities-
Increase in focus toward robust and compact material handling equipment, versatile benefits associated with reach trucks, and increase in infrastructure projects globally fuel the growth of the global reach trucks market. On the other hand, rise in trend of adoption of forklift and increase in prices of raw materials impede the growth to a certain extent. Nevertheless, technical innovation in reach trucks is expected to create lucrative opportunities for the key players in the industry.
The less than or equal to 2000 kg segment to lead the trail by 2026-
Based on type, the less than or equal to 2000 kg segment contributed to around three-fourths of the global reach trucks market share in 2018, and is expected to rule the roost by the end of 2026. This is due to their environment-friendly nature as they rely on batteries and produce no exhaust emissions. Simultaneously, the more than 2000 kg segment would cite the fastest CAGR of 6.4% from 2019 to 2026. Large market penetration and wide scope of application have boosted the growth of the segment.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/6322
The retail & wholesale segment held the largest share in 2018-
Based on retail & wholesale, the campaign management segment held the major share in 2018, generating nearly two-fifths of the global reach trucks market. The transportation network between different countries and continents has led to the increased stocking of goods in warehouses, which drives the growth of the segment. At the same time, the logistics segment would showcase the fastest CAGR of 7.0% throughout the forecast period. The manufacturers have developed advanced reach trucks for the logistics and warehouse area, which boosts the growth of the segment.
Asia Pacific to rule the roost in terms of revenue-
Based on geography, the market across Asia-Pacific accounted for nearly two-fifths of the global reach trucks market revenue in 2018 and is projected to dominate throughout the study period. In addition, the region would register the fastest CAGR of 6.7% by 2026. This is attributed to the significant number of ongoing infrastructure and development projects in China and India. On the other hand, North America is expected to manifest a CAGR of 3.5% by 2026.
Purchase Report Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/6322
Leading market players-
- KION Group AG
- Mitsubishi Logisnext Co., Ltd
- Toyota Industries Corporation
- Godrej and Boyce Manufacturing Company Limited
- Hangcha Group Co., Ltd
- Hyster-Yale Materials Handling, Inc
- Jungheinrich AG
- Combilift Material Handling Solutions
- Crown Equipment Corporation
- Doosan Corporation
Access Avenue (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/Avenue-Membership-details
Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.
Similar Reports:
Global Stacker Market Expected to Reach $3,136.2 Million by 2026
Automated Turf Harvester Market Expected to Reach $155.9 Million by 2026
Overhead Cranes Market to Garner $5,767.5 Million by 2025
Mini Excavators Market Expected to Reach $9.77 Billion by 2025
Global Oilfield Equipment Market Expected to Reach $141.4 Billion by 2026
Global Industrial Furnaces Market Expected to Reach $16.997 Billion by 2026
Pre-Book Now with 12% Discount:
Global Snow Sweeper Truck Market - Global Opportunity Analysis and Industry Forecast, 2019-2026
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact Us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Follow us on: https://www.linkedin.com/company/allied-market-research
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
Share this article