London, 04 December 2015: Technavio, the independent tech-focused global research firm, has published a report on the global industrial trucks market 2015-2019, which is expected to grow at a CAGR of 4.30% during the forecast period of 2014-2019.
The heightened demand for industrial truck services is attributed to the growing number of companies across various industries. Shippers are increasingly opting for industrial truck services due to the benefits of outsourcing it offers, in terms of greater operational efficiency and cost savings.
“Industrial truck providers are adopting eco-friendly electric vehicles this hindrance. They are also switching to renewable sources of energy such as hydrogen fuel cells to generate energy,” says Faisal Ghaus, Vice President of Technavio.
“A few companies have already moved toward the Go Green concept, a step taken by industrial truck companies to reduce carbon emissions.”
Key Market Drivers
- Rapid growth of organized retail sector in emerging economies
- Growing demand from heavy industries
- Increased demand from emerging markets
- Evolving key performance indicators
Key Market Trends
- Increase in use of eco-friendly vehicles
- Emergence of big data analytics in SCM
- Multiple value-added services offered by vendors
Key Market Vendors
- Crown Holdings
- Hyster-Yale
- Jungheinrich
- Kion Group
- Toyota Industries
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Industrial Trucks Market 2015-2019, please send an e-mail to media@TechNavio.com.
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