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The trolley market size is estimated to grow at a CAGR of 4.69% between 2023 and 2028. The market size is forecast to increase by USD 554.6 million. The market's growth depends on several factors such as the growing use of trolleys in supermarkets and the food service industry, the growth in the e-commerce sector, and the growth of the tourism sector.
This trolley market report extensively covers market segmentation by distribution channel (offline and online), application (industrial application, airport, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growth in the e-commerce sector is the key factor driving market growth. The growth of the global e-commerce industry has provided vendors with the potential to earn more profits. Online and e-commerce channels support both business-to-business (B2B) and B2C operations. E-commerce has become an important emerging trend for almost all types of retail services. Furthermore, the prices offered to customers are often lower on e-commerce platforms when compared with physical stores because of the reduction in the overhead costs when products are sold through online platforms.
Furthermore, the increase in the number of Internet users and the buy-it-now attitude of people, especially the younger generation, is contributing to the growth of this retail channel. The growing number of online shoppers across the world will further translate into the increased use of trolleys in warehouses of leading e-commerce companies. Hence, the growing e-commerce industry will continue to drive the growth of the market in focus during the forecast period.
The adoption of advanced technologies in trolley manufacturing is the primary trend shaping market growth. Apart from steel suppliers, the trolley industry also requires metal sheet processing technology providers and warehouse-automated machine suppliers to provide the effective production process of trolleys. The need for adopting an advanced production process is emerging in material handling equipment manufacturing as it helps manufacturers attain low cost and high productivity in manufacturing operations. Besides saving on labor costs, the advanced manufacturing process helps trolley manufacturers achieve quality, accuracy, and precision in the overall output.
In addition, manufacturers in the global trolley market are adopting laser cutting technologies for metal sheet processing and automated loading and unloading equipment to save time and cost of production. Besides, the global trolley market players are also adopting technologies such as robotic sorting systems for the effective manufacturing process. Therefore, the implementation of new technologies can boost the growth of the trolley market during the forecast period.
Volatile raw material prices used for the production of trolleys is a challenge that affects market growth. Raw materials, including steel, aluminum, plastics, and rubber, are fundamental to trolley production. However, their prices are subject to erratic fluctuations influenced by supply and demand dynamics, geopolitical events, and market speculation. When steel prices surge due to trade tensions or supply shortages, manufacturers may be compelled to either absorb elevated production costs or pass them on to consumers.
Additionally, manufacturers must contend with cost uncertainty, potential supply chain disruptions, and squeezed profit margins when dealing with fluctuating raw material prices. Consequently, the volatile raw material prices used for the production of trolleys can pose a major challenge to the growth of the market in focus during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Trolley Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. Market players are also focusing on improving their offline sales by widening their operations at different locations. This helps the company generate and sell products efficiently and cater to every consumer category in large geographic areas. Although the offline segment is losing its market share to the online channels, extensive marketing will leverage its sales at a steady rate.
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The offline segment was the largest segment and was valued at USD 1.52 billion in 2018. The offline sale channels for trolleys include specialty stores, department stores, hypermarkets, and supermarkets, warehouse clubs. Moreover, with most competitors entering the online retail format with their own websites, the share of sales through this segment is expected to decline during the forecast period. Thus, the offline segment in the market in focus is expected to witness slow growth during the forecast period.
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North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increasing industrial production and rising trade opportunities are important factors that drive the growth of the trolley market in APAC. Besides, the government support for regional and international trade is also attracting many logistics players to enter the region.
Furthermore, the growing businesses and economic activities in APAC countries such as China, Australia, Singapore, Japan, Taiwan, South Korea, Vietnam, India, Thailand, and Malaysia require space for the storage of semi-finished or final products. Thus, there will be increased demand for trolleys at e-commerce warehouses and storage facilities in APAC during the forecast period.
The outbreak of COVID-19 in 2020 had a negative impact on the APAC trolley market. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. The governments of China, Japan, and India lifted their travel restrictions, and the domestic and outbound tourism levels returned to normal. Hence, the growing travel industry in the region will drive the growth of the regional trolley market during the forecast period.
The trolley market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Trolley Market Scope |
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Report Coverage |
Details |
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Page number |
158 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.69% |
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Market Growth 2024-2028 |
USD 554.6 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
3.95 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 33% |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Advance Carts Inc., Americana Co., C.R.Daniels Inc, Caddie Hotel Srl, Canadas Best Store Fixtures Inc, Cefla SC, Kailiou Commercial Equipment Co. Ltd., Little Giant Ladder Systems LLC, Magline Inc, National Cart Co., ONRACKS TMTE Metal Tech Pvt Ltd, R.W. Rogers Co., Rehrig Pacific Co., Sambo Corp., Shanghai Rongxin PetProduct Co. Ltd., The Fairbanks Co., Unarco Industries LLC, Van Keulen Interieurbouw BV, Versacart Systems Inc., and Wanzl GmbH and Co. KGaA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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