Global Reach Trucks Market 2019 - 2026: Business Development and SWOT Analysis by Industry Expert

PORTLAND, OREGON, UNITED STATES, September 24, 2020 /EINPresswire.com/ -- 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 drive 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.

Download Sample PDF@ https://www.alliedmarketresearch.com/request-sample/6322

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.

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.

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.

For Purchase Enquiry@ https://www.alliedmarketresearch.com/purchase-enquiry/6322

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.

Get detailed COVID-19 impact analysis on the Reach Trucks Market @ https://www.alliedmarketresearch.com/request-for-customization/6322?reqfor=covid

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.

Similar Reports:

Elevator Modernization Market @ https://www.alliedmarketresearch.com/elevator-modern-market

Global Bearings Market @ https://www.alliedmarketresearch.com/bearings-market

Forklift Battery Market @ https://www.alliedmarketresearch.com/forklift-battery-market-A05964

Diesel Generator Market @ https://www.alliedmarketresearch.com/diesel-generator-market-A06370

David Correa
Allied Analytics LLP
+ +1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.