NEW YORK, Dec. 14, 2023 /PRNewswire/ — The trolley market size is expected to grow by USD 554.6 million from 2023 to 2028. However, the growth momentum of the market will be progressing at a CAGR of 4.69% during the forecast period. The market is segmented 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).
Growth in the e-commerce sector is the key factor driving market growth. Both the operations of business-to-business B2B and B2C businesses are supported by Internet and e-commerce channels. In nearly all types of sales services, e-commerce has proven to be an important new trend. Furthermore, due to a reduction in overhead costs for the sale of products via online platforms, customer prices offered are often lower on shop websites compared with physical stores.
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Key Highlights:
- The report recognizes the following as some of the key players in the trolley market: 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
- The Trolley Market is fragmented in nature.
- Market to observe 3.95% YOY growth in 2024.
Market Dynamics:
Trend-
- The adoption of advanced technologies in trolley manufacturing is the primary trend shaping market growth.
- The demand for embracing a cutting-edge production process is arising in material handling equipment manufacturing as it enables manufacturers to attain low cost and high productivity in manufacturing operations.
- Market players are adopting laser cutting technologies for metal sheet processing and automated loading and unloading equipment to save time and cost of production.
Challenge-
- Volatile raw material prices used for the production of trolleys is a significant challenge that affects market growth.
- Raw materials, including steel, aluminum, plastics, and rubber, are fundamental to trolley production. Nevertheless, their prices are subject to erratic fluctuations influenced by several factors.
- Market players must contend with cost volatility, potential supply chain disruptions, and squeezed profit margins when dealing with fluctuating raw material prices.
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Keg Segments:
The offline segment is estimated to witness significant growth during the forecast period. Market players are focusing on enhancing their offline sales by widening their operations at different locations. The offline sale channels for trolleys have specialty stores, department stores, hypermarkets, and supermarkets, warehouse clubs.
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Trolley Market Scope |
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Report Coverage |
Details |
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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 2022-2023 (%) |
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, 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. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Distribution Channel
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
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