As per Future Market Insights, the platform trolley market is anticipated to attain a value pool of US$ 500 million by 2023-end. Global demand for platform trolleys is expected to rise at a CAGR of 5% to US$ 900 million in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value of Platform Trolleys in 2023 | US$ 550 million |
| Projected Market Value of Platform Trolleys in 2033 | US$ 900 million |
| Growth Rate (2023 to 2033) | 5% CAGR |
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According to latest research estimates, Platform Trolley Market is set to record CAGR of 4.5-5% during 2021-2031. Demand for Platform Trolley will witness steady recovery in short-term, with optimistic growth outlook in the long-run. The digital transformation of industrial landscape means that there are favorable growth prospects for the market in the forecast period.
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One of the primary factor which is expected to drive the growth of the market is increasing need for platform trolley from commercial places such as hotels, restaurants, supermarket and hypermarket and airports where heavy loads are needed to take from one place to another.
Another major factor taken into consideration is swiftly growing construction industry is putting the lime light on growing needs of platform carts at construction sites for transporting goods and luggage in a convenient way which is predicted to increase adoption rate of platform trolleys in the coming years.
On the basis of material type, plastic material type segment is gaining traction owing to the benefits offer by this segment as this material prevents the product from rusting. Another important application of platform trolley is a warehouse where this product plays crucial role in managing products efficiently.
Based on material type, plastic platform trolley is expected to hold major share in the global platform trolley market. It is best suited when one’s primary concern is maximum load capacity as it is strongest and toughest as compare to stainless still material type product. Plastic material type segment is expected to hold its dominance over other segment over the forecast period owing to its easy to handle property, rust resistant and durability.
According to the opinions learnt from the end users, when one has to transport the material in bulk amount foldable product type is good for every time usage due to its bigger size and can be store anywhere and anytime. Hence, it is projected that the foldable product type is expected to account for the higher share over other segments throughout the forecast period.
According to the World Economic Forum, GDP in the country of the USA dropped 5% in Q1 2020 and around 33% in Q2 2020 alone. End-users from various industries faced numerous challenges to balance customer demands, meet performance standards and achieve desired profits, yet the motion control industry has fared far better, as compared to other industries in the country. Based on research,the USA market is considered to be the mature market.
European countries have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, in the case of many companies one of the key issues is the shutdown of the production and sales of the product which was halting the demand during the year 2020 and is expected to drop the market over the year 2020
Growing retail sector in particularly in countries of Eastern European is expected to drive the demand of the product in upcoming years. Hence, this region is expected to grow with the significant growth rate over the forecast period
Some of the leading manufacturers and suppliers include
Manufacturers are highly focused on providing customized products which are characterized by the highest quality, functionality and durability. to their customers due to which demand of the product is gaining traction in various end use industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Analysis and Forecast 6.1. Material Type 6.2. Application 6.3. Product Type 7. Global Analysis and Forecast, By Material Type 7.1. Zinc Plated 7.2. Plastic 7.3. Stainless Steel 8. Global Analysis and Forecast, By Application 8.1. Airport Cargo 8.2. E-Commerce & Courier 8.3. Manufacturing 8.4. Retail Warehousing & Storage 8.5. Hospitality & Hotels 8.6. Others 9. Global Analysis and Forecast, By Product Type 9.1. Fixed 9.2. Foldable 10. Global Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. East Asia 10.5. South Asia & Pacific 10.6. Middle East and Africa 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries 15. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East and Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Material Type, Application, and Product Type for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Protaurus, Wanzl 19.2. Novodinámica 19.3. National Cart 19.4. Sambo 19.5. STANLEY 19.6. Harper Trucks 19.7. Breg Products 19.8. Richmond Wheel and Castor Co 19.9. Cefla. E S Industries 19.10. Hoffmann SE 19.11. CARL ROTH 19.12. Trident Industries 19.13. Keddy Concept 19.14. RKS ENGINEERING INDUSTRIES 19.15. Design by Scorpio Technologies
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Platform Trolley Market
