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 increase in 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.
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
- Retail & Wholesale
- Food & Beverages
- North America
- ·Rest of Europe
- ·South Korea
- ·Rest of Asia-Pacific
- ·Latin America
- ·Middle East
- 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