Global Trucks and Lifts market is projected to grow at a CAGR of 2.46% during the forecast period, reaching a total market size of US$79.044 billion in 2024 from 68.315 billion in 2018. Growth in global construction industry along with infrastructural development, particularly in developing economies, is augmenting the demand for trucks and lifts material handling machines and equipment so as to help workers to deliver heavy materials from one place to another and to move the material around tight corners. These material handling trucks allow one worker to do all the work, thereby reducing the need for human labor in the hazardous working environment. Furthermore, rising concerns about workers’ safety and stringent government regulations for the same is also forcing manufacturers to use various material handling equipment. Rising construction of big warehouses will propel the growth of lifts during the forecast period as these type of material handling equipment like scissor/aerial lift can make assembly and installation tasks easier in warehouses with tall heights. Moreover, the demand for pallet trucks will also escalate with the growing need for providing heavy cargo on precise schedules in the manufacturing units.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Trucks and Lifts value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Global Trucks and Lifts market.
Major industry players profiled as part of the report are JLG Industries, Daimler Group, BEUMER GROUP, MAN, Linde Material Handling, and Toyota Material Handling U.S.A. among others.
The Global Trucks and Lifts market has been analyzed through the following segments:
Hand Pallet Truck
Powered Pallet Truck
By Industry Vertical
Food and Beverage
Middle East and Africa