Hand Trucks Market: Introduction
- A hand truck is usually L-shaped box-moving handcart with handles at one end and wheels at the base. It contains a small ledge to place objects when the hand-truck is erect. The hand truck is also known as sack truck, bag barrow, box cart, stack truck, cart, two wheeler and dolly. The objects to be moved are tilted forward, the ledge is inserted underneath them, and the objects allowed to tilt back and rest on the ledge. The truck and object are then tilted backward until the weight is balanced over the large wheels, making heavy and bulky objects easy to move. Demand for hand trucks is estimated to rise during the forecast period.
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Key Drivers and Opportunities of the Global Hand Trucks Market
- Demand for sophisticated and versatile hand trucks is increasing. Hand trucks have evolved to meet the changing needs of the industry, as equipment got bigger and heavier, and regulations about worker safety became more stringent. Rapid increase in industrialization has boosted the demand for hand trucks for transportation of goods.
- Hand trucks are widely used in manufacturing industries, warehouses, hypermarkets, and supermarkets. Demand for these trucks is estimated to rise significantly during the forecast period due to an increase in number of hypermarkets and supermarkets in developed and developing countries.
- The transportation and logistics industry is estimated to offer significant opportunity for the hand trucks market. Hand trucks play a vital role in lifting, movement of goods, and placement of goods in the industry. The industry is projected to expand at a healthy CAGR during the forecast period, which in turn is expected to fuel the demand for hand trucks during the forecast period.
- Manufacturers are witnessing an increasing demand for technological advanced products that help reduce the work load by incorporating the technology of remote control movement of hand trucks. This is estimated to propel the hand trucks market during the forecast period.
Asia Pacific to Hold Major Share of Global Hand Trucks Market
- In terms of geography, the global hand trucks market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Asia Pacific is expected to hold a major share of the global hand truck market during the forecast period owing to rising industrialization in the region, advancements in the technology, rising demand for ultra-fast deliveries, and increasing cost of commercial warehouses
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Key Players Operating in Global Hand Trucks Market
- B&P Manufacturing
- Brennan Equipment & Manufacturing Inc.
- Harper Trucks Inc.
- New Age Industrial
- Qingdao Huatian Hand Truck Co. Ltd.
- Qingdao Taifa Group Co. Ltd.
- QingDao XinJiangYuan Power Technology Co. Ltd.
- Qingdao Zhenhua Barrow Manufacturing Co. Ltd.
- The Fairbanks Company
- Wesco Industrial Products LLC
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