Hand Trucks 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.
“Hand Truck Market, by Load-Capacity, by Application, by Region, Growth Potential, Competitive Market Share and Forecast, 2021-2027” The hand truck market is projected to grow with a significant growth rate during the forecast period 2021-2027.
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The new warehouses and distribution facilities coming to the area 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 multiple sectors like in the food industry and effective automotive maneuver becomes easy.
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.
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 utilized in 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 2021-2027. Immense change in the transportation and logistics industries considering independent movement, lifting, and placement of discrete loads in a specific facility has pushed the Hand Truck market positively.
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COVID-19 Impact
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Hand Trucks Market also experienced a slowdown. Statista estimates that the Hand Trucks Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Hand Trucks Market generated revenues of US$ 5.4 trillion at a record high.
The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Hand Trucks Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
To move the lightweight objects the manually powered vehicles includes hand trucks and carts get 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 expected to grow over the forecast period.
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Asia-Pacific accounts for the largest share of the global hand truck market during the forecast period.
Based on region, the hand truck market has been segmental into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In 2016 Southeast-Asia accounted 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.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
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