Global Warehouse Vehicles Market 2017-2021

Overview of the global warehouse vehicles market

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.

Competitive landscape and key vendors

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

• Crown
• Jungheinrich
• KION GROUP
• Toyota

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.

Segmentation by product and analysis of the warehouse vehicles market

• Counterbalance trucks
• Narrow aisle trucks
• Tow trucks
• Pallet trucks

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.

Geographical segmentation and analysis of the warehouse vehicles market

• Americas
• APAC
• EMEA

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.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global warehouse vehicles market?
• What are the key market trends impacting the growth of the global warehouse vehicles market?
• What are the challenges to market growth?
• Who are the key vendors in the global warehouse vehicles market?
• What are the market opportunities and threats faced by the vendors in the global warehouse vehicles market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global warehouse vehicles market?

Technavio also offers customization on reports based on specific client requirement.