The global reach trucks market size was valued at $2,583.8 million in 2018, and is projected to reach $4,085.8 million by 2026, growing at a CAGR of 5.6% from 2019 to 2026. The reach trucks is a manually operated material handling machine. These trucks are used in warehouses and industries for moving and loading goods from one place to another. It serves the needs of various industries including warehouses and other large storage facilities. Its advantageous features includes maneuverability, safety, portability, and strength.
The reach trucks offer better accessibility in closed & compact areas, can easily relocate from one location to another, has lower costs, and are easy to maintain. In addition, the demand for safe and efficient material handling equipment in various cross industry verticals has led to an the increase in the adoption of reach trucks over the recent years. These advantages are anticipated to drive the growth of the market in the coming years. However, rise in adoption of forklifts is anticipated to hamper the market growth. Furthermore, technical innovations and advancements in reach trucks offer lucrative growth opportunities for the market players.
The global reach trucks market is segmented into type, end-user, and region. Depending on type, the market is segmented Less than or equal to 2000 kg and More than 2000 kg. On the basis of end-user, it is categorized into retail & wholesale, logistics, automobile, food & beverages, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
COMPETITION ANALYSIS
Some of the major players analyzed in this report are Combilift Material Handling Solutions, Crown Equipment Corporation, Doosan Corporation, Godrej and Boyce Manufacturing Company Limited, Hangcha Group Co., Ltd, Hyster-Yale Materials Handling, Inc, Jungheinrich AG, KION Group AG, Mitsubishi Logisnext Co., Ltd, and Toyota Industries Corporation.
KEY BENEFITS FOR STAKEHOLDERS
GLOBAL REACH TRUCKS MARKET SEGMENTS BY LOAD CAPACITY
BY END-USER
BY REGION
KEY PLAYERS
The reach trucks offer better accessibility in closed & compact areas, can easily relocate from one location to another, has lower costs, and are easy to maintain. In addition, the demand for safe and efficient material handling equipment in various cross industry verticals has led to an the increase in the adoption of reach trucks over the recent years. These advantages are anticipated to drive the growth of the market in the coming years. However, rise in adoption of forklifts is anticipated to hamper the market growth. Furthermore, technical innovations and advancements in reach trucks offer lucrative growth opportunities for the market players.
The global reach trucks market is segmented into type, end-user, and region. Depending on type, the market is segmented Less than or equal to 2000 kg and More than 2000 kg. On the basis of end-user, it is categorized into retail & wholesale, logistics, automobile, food & beverages, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
COMPETITION ANALYSIS
Some of the major players analyzed in this report are Combilift Material Handling Solutions, Crown Equipment Corporation, Doosan Corporation, Godrej and Boyce Manufacturing Company Limited, Hangcha Group Co., Ltd, Hyster-Yale Materials Handling, Inc, Jungheinrich AG, KION Group AG, Mitsubishi Logisnext Co., Ltd, and Toyota Industries Corporation.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging reach trucks market trends and dynamics.
- In-depth market analysis is conducted by estimating the key market segments between 2018 and 2026.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.
- The market forecast analysis from 2019 to 2026 is included in the report.
- Key market players within reach trucks market are profiled in this report and their strategies are analyzed thoroughly, which helps to understand the competitive outlook of the reach trucks industry.
GLOBAL REACH TRUCKS MARKET SEGMENTS BY LOAD CAPACITY
- Less than or equal to 2000 kg
- More than 2000 kg
BY END-USER
- Retail & Wholesale
- Logistics
- Automobile
- Food & Beverages
- Others
BY REGION
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY PLAYERS
- Combilift Material Handling Solutions
- Crown Equipment Corporation
- Doosan Corporation
- Godrej and Boyce Manufacturing Company Limited
- Hangcha Group Co., Ltd
- Hyster-Yale Materials Handling, Inc
- Jungheinrich AG
- KION Group AG
- Mitsubishi Logisnext Co., Ltd
- Toyota Industries Corporation
Frequently Asked Questions about the Global Reach Trucks Market
What is the estimated value of the Global Reach Trucks Market?
What is the growth rate of the Global Reach Trucks Market?
What is the forecasted size of the Global Reach Trucks Market?
Who are the key companies in the Global Reach Trucks Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 214 |
| Published | January 2020 |
| Forecast Period | 2018 - 2026 |
| Estimated Market Value ( USD | $ 2583.8 million |
| Forecasted Market Value ( USD | $ 4085.8 million |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Reach Trucks Market, By Load Capacity
Chapter 5: Reach Trucks Market, By End-User
Chapter 6: Reach Trucks Market, By Region
Chapter 7: Company Profiles
Executive Summary
According to the report, titled, ' Reach Trucks Market by Type and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global reach trucks market size was valued at $2,583.8 million in 2018, and is projected to reach $4,085.8 million by 2026, registering a CAGR of 5.6% from 2019 to 2026. In 2018, based on load capacity, the less than or equal to 2000 kg segment accrued the largest share in the reach trucks market.Growth in less than or equal to 2000 kg segment is due to rising demand for durable material handling equipment over traditional material handling equipment. In addition, expansion of the logistics industry throughout the globe, especially in emerging nations such as China and India drives the reach trucks market growth. Moreover, reach trucks are popular owing to their advantageous features such as high load capacity, versatility, and flexibility. Thus, such advantageous features are expected to fuel the demand for reach trucks market in the coming years.
In 2018, on the basis of end-user, the retail & wholesale segment garnered a significant market share, owing to the expansion of the e-commerce sector in developing regions. In addition, logistics and food & beverages segments are expected to exhibit significant growth during the forecast period. In terms of region, Asia-Pacific and Europe collectively contributed around 74.8% of the total share in the global reach trucks market in 2018.
The key players profiled in the reach trucks market report includes Combilift Material Handling Solutions, Crown Equipment Corporation, Doosan Corporation, Godrej and Boyce Manufacturing Company Limited, Hangcha Group Co., Ltd, Hyster-Yale Materials Handling, Inc, Jungheinrich AG, KION Group AG, Mitsubishi Logisnext Co., Ltd, and Toyota Industries Corporation. The major players operating in the global reach trucks market have adopted key strategies such as product development to strengthen their market outreach and sustain the stiff competition in the market. For instance, in April 2019, Crown launched SHC 5500 series counter-balance reach trucks. These trucks are designed for easy maneuvering and positioning of heavy loads in compact and tight spaces, such as warehouses, docks, and racks. It features a lift height of 114 to 172 inches.
Key Findings of the Study
The report provides an extensive analysis of the current and emerging reach trucks market trends and dynamics.
Depending on load capacity, the less than or equal to 2000 kg segment dominated the reach trucks market, in terms of revenue, in 2018 and is projected to grow at a CAGR 5.4%, during the forecast period.
By end-user, the retail & wholesale segment led the reach trucks market in 2018.
Asia-Pacific is projected to register the highest growth rate in the coming years.
Key market players within the reach trucks market are profiled in this report, and their strategies are analyzed thoroughly, which helps to understand the competitive outlook of the reach trucks industry.
The report provides an extensive analysis of the market trends and emerging opportunities of the industry.
In-depth market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
The global reach trucks market forecast analysis from 2019 to 2026 is included in the report.
Companies Mentioned
- Combilift Material Handling Solutions
- Crown Equipment Corporation
- Doosan Corporation
- Godrej Boyce Manufacturing Company Limited
- Hangcha Group Co. Ltd
- Hyster-Yale Materials Handling Inc
- Jungheinrich AG
- KION Group AG
- Mitsubishi Logisnext Co. Ltd
- Toyota Industries Corporation.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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