Latest Research Report to uncover key Factors of Industrial Truck Market

Posted by Sakshi Mishra on January 6th, 2020

Industrial trucks are needed at manufacturing and construction sites due to their high mobility and load carrying capacity

• Consistent advances in technology, worldwide, have led to a boom in manufacturing, construction, transport, and shipping industries. Industrial trucks are equipped with hydraulic systems that enable them to move bigger and heavier machinery and equipment from one place to another in several industries. Some industrial trucks are employed for special movement of goods. For instance, forklift trucks are equipped with fork-like systems at the front-end that enable these trucks to carry and elevate load to a desired height or transport it to the desired location.
• Conveyors or cranes cannot be used to handle large equipment or heavy material in certain parts of industries with limited space. In such limited spaces, industrial trucks can operate with ease and eliminate the need of design and installing cranes or conveyors. Rising demand for industrial trucks in restricted production and manufacturing spaces is majorly attributed to its ability to work in restricted spaces and flexibility.

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Key drivers of global industrial truck market

• Worldwide digitalization has led to rapid expansion of the e-commerce sector, which is a key driver of the global economy. Global value chains and supply chains demand considerable investment in building warehouses and logistics. Increasing demand for new warehouses and the need for easy transportation of construction equipment is driving the efficiency of the e-commerce sector. Rise in demand for industrial trucks, which provide a solution to material and equipment handling in a fast and easy way while working independently, is driving the market for industrial trucks.
• Demand and development of electric vehicles is propelling the demand for new manufacturing equipment, which requires expansion of existing manufacturing plants. Lack of space, environmental policies, and high land costs have prompted several plants to outsource the manufacture of parts and equipment to different manufacturers located in various cities and countries. Large capacity and high load carrying vehicles are required to transport such heavy parts and equipment from different locations. This drives the demand for industrial trucks, which offer solution for transportation of heavy parts and equipment.