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Rising e-commerce sales supports the need for warehouses and distribution centers, that further influences the demand for warehouse vehicle to facilitate the movement of goods. Technavio’s market study identifies the rising e-commerce retail sales to be one of the primary growth factors for the warehouse vehicles market. Increasing e-commerce sales has encouraged the e-commerce retailers to increase the speed and location of their warehouse distribution centers. These warehouses must be located near population centers, and the increasing number of warehouses will increase the demand for warehouse vehicles. Our market analysts estimate that the market will grow steadily at a CAGR of greater than 6% by 2021.
Autonomous vehicles are gaining popularity as they are capable of navigating without any input from any human. Autonomous vehicles can make decision based on their analysis of the environment, whereas, automated guided vehicles (AGV), are limited to a programmed path or are controlled from outside the vehicle. Autonomous AGVs must be equipped with decision-making ability that enables them to complete tasks without any external human assistance. The growing popularity of the autonomous vehicles is identified to be one of the key trends contributing towards the growth of the warehouse vehicles market.
Owing to the presence of a several large and small-scale vendors, the warehouse vehicles market is highly fragmented and competitive. The international and regional vendors compete intensely based on innovation, price, and service. M&A among the vendors in the electric utility vehicles market is prevalent for product portfolio extension and geographical presence expansion. Warehouse vehicle vendors are innovating constantly to provide unique solutions to the customers.
The leading vendors in the market are
The other prominent vendors in the market are CONHERSA, Douglas Equipment Company, Godrej Material Handling, Hyster Company, Lokpal Industries, Mighty Lift, Ningbo Ruyi Joint Stock, NOVELTEK, PalletTrucksUK, Patel Material Handling Equipment, Puma Lift Trucks, RICO manufacturing, Sroka Incorporated, STILL Materials Handling, The Raymond Corporation, and Yale Materials Handling Corporation.
Counterbalance trucks will account for major shares in the electric utility vehicles market influenced by the growing use of counterbalance trucks by the expanding beverage industry. These trucks are primarily used for transporting goods from one place to another, and are extensively used in construction industry, warehousing, and dockyards.
APAC will be the major revenue contributor to the electric utility vehicles market supported by factors such as rising passenger car sales and the retail e-commerce sales that are influencing the need for expansive warehousing activities. Also, the growing developing economies, India and China, will further the growth of the automotive and e-commerce industry in this region.
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
PART 06: MARKET SIZING
PART 07: FIVE FORCES ANALYSIS
PART 08: MARKET SEGMENTATION BY PRODUCT
PART 09: REGIONAL LANDSCAPE
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
PART 12: MARKET TRENDS
PART 13: VENDOR LANDSCAPE
PART 14: VENDOR ANALYSIS
PART 15: APPENDIX
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