The new warehouses and distribution facilities coming to the area are geared toward e-commerce. The need for effective management to maneuver the load from one location to another in various industries is one of the biggest challenges. Owing to the application of hand truck in various industries like in the food industry and automotive effective maneuver becomes easy. Hand Trucks are made of steel and aluminium is an L-shaped box-moving handcart with handles at one end, wheels at the base, with a small ledge to set objects on, flat against the floor when the hand-truck is upright. The need for a machine or equipment that can move heavy goods with ease to various locations is a prime reason that drives this market. Additionally, an increase in warehouse space for automotive and food industry boosts the demand for hand trucks globally.
According to an upcoming report by BlueWeave Consulting, “Global Hand Truck Market, by Load-Capacity, by Application, by Region, Growth Potential, Competitive Market Share and Forecast, 2015-2025” The global hand truck market is projected to grow with a significant growth rate during the forecast period 2018-2025.
Retail & Logistics segment is the leading application for the Global Hand truck market during the forecast period.
To move the lightweight objects the manually powered vehicles which include hand trucks and carts are utilized by the manufacturing and production utilities. Retail & Logistics segment is estimated to be the leading segment of the overall Hand truck market during the forecast period 2018-2025. Owing to the immense change in the transportation and logistics industries, utilized for independent movement, lifting, and placement of discrete loads in a specific facility. To move the lightweight objects the manually powered vehicles which include hand trucks and carts are utilized by the manufacturing and production utilities. The global market for hand trucks is likely to benefit immensely from the rapidly growing e-commerce sector around the world. With the technological advancement and economic level, the hand truck is likely to grow over the forecast period.
Asia-Pacific accounts for largest share of the global hand truck market during the forecast period.
On the basis of region, the hand truck market has been segmental into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In 2016 Southeast-Asia accounts for the largest market share of the entire hand truck market and projected to lead the market over the forecast period, 2018-2025. China is the largest producer of the hand truck. E-commerce, retail and wholesale industry also fuelling the utility and adoption of hand trucks market on the global scenario. Owing to the growing industrial sector coupled with technology advancement, increasing costs of commercial warehouse spaces, demand for ultra-fast deliveries.
Global Hand Truck Market Competitive Landscape
Companies such as Harper Trucks, Inc., Milwaukee Hand Trucks, Magliner, Little Giant, Qingdao Huatian Hand Truck Co., Ltd., Qingdao Taifa Group, B&P Manufacturing, Wesco Industrial Products, LLC., Maker Group Industry Limited, BIL Group, The Fairbanks Company, Qingdao Giant Industry&Trading, BIL Group, Mighty Lift, and Breg Products Ltd are the key players of Hand Truck market globally.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global hand truck Market size & forecast. The report promises to provide state-of-the-art technology of hand truck and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.