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Poly Trucks Market to Register Substantial Expansion by 2028

07-27-2018 12:35 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Factmr

Poly Trucks Market to Register Substantial Expansion by 2028

Though Industrial Automation Restricts Adoption, Emerging SMEs and Material Handling Industry Drive the Poly Trucks Market

The market for poly trucks is expected to remain under the influence of growing industrial revolution and changing work demographics. Starting from storage to distribution, poly trucks are highly sought after as an important material handling asset. With the growth of manufacturing and warehousing industries, the demand for poly trucks is estimated to remain persistent in the material handling sector. Further, due to the availability of a variety of poly trucks, in terms of material, capacity, and flexible features, poly trucks are highly sought after in the manufacturing, distribution, warehousing, recycling, sorting, collection, and goods transportation industries. On account of the emergence of industrial automation and increased demand for efficient supply chain, leading businesses are seeking cost-efficient, autonomous, and sustainable handling solutions. These factors are likely to hamper the growth of the poly trucks market in the review period.

Material Handling Industry to Present Lucrative Opportunities for the Poly Trucks Market

According to the U.S. Department of Commerce and Bureau of Labor Statistics, in America, material handling and logistics industry is one of the largest and fastest growing industries, reporting US$ 156 billion per year in terms of consumption of material handling and logistics equipment. As poly trucks provide cost-efficient and flexible material solutions, they are highly utilized in the industry where storing, transporting, and distribution are routine practices. Due to its persistent growth, the material handling industry is considered one of the ‘mega industries’. This positive trend of the industrial growth represents steady demand for material handling equipment including poly trucks in the near future.

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Poly Trucks Gain Traction in the Hospitality Industry

The laundry industry, in particular, the coin laundries are an important end-user of the poly trucks. The coin laundry association states that in the United States, currently there are 29,500 coin laundries that generate US$ 5 billion gross revenue annually. This growth is translated into the need for effective and flexible material handling solutions that facilitate different material handling in different environments. Further, manufacturers provide customized solutions with the features such as bulk transport solutions with covers, flatworks, and extractors that fit in the clients’ custom environment to gain optimal efficiency. Apart from the laundry industry, manufacturers of the poly trucks also provide solutions for housekeeping, pools, waterparks, food & beverages, and other maintenance applications where they are highly sought after.

Emerging SMEs Boost the Growth of Poly Trucks Market

Amidst the scenario of declining productivity, weak trade and investment, and growing inequality, the emergence of SMEs is expected to strengthen the productivity. According to OECD’s work of productivity-inclusiveness nexus, in reaching the goal of increased productivity potential and reducing inequality, small and medium-sized enterprises (SMEs) play a central role by generating 70% of the total employment. In parallel, numbers of manufacturing and distribution centers of these SMEs are growing, leading to increased demand for material handling equipments. Small and medium-sized enterprises are the facilities that demand cost-effective material handling equipments including the poly trucks.

In Meeting Efficient Industrial Supply Chain, Poly Trucks Lag Behind

In the era of Industry 4.0 transformation, adoption of automation and digitization has increased exponentially. On account of which, automated material handling solutions are becoming popular in advanced industrial infrastructure. Robots have been devised for different material handling purposes including storage, collection, and transportation of various goods, materials, and other products. Poly trucks provide manual solutions for storage, distribution, and transport of different materials. Adoption of automation and digitization in the industrial infrastructure has resulted in increased supply chain efficiency. Thus, growing automation in the fourth industrial revolution is likely to hamper the growth of poly trucks market.

Manufacturers to Provide Innovative Ergonomic Poly Truck Design

With the rising demand of material handling equipments in a variety of industries, manufacturers have introduced product innovations in poly carts to meet with the growing consumer demand. To accommodate divergent consumer requirements, a range of poly truck design categories such as poly box trucks, poly bulk trucks, and poly laundry trucks are available in the market. In addition, poly trucks are coated with distinct chemicals such as epoxy resins for industry-specific applications such as water and chemical resistance for food and beverage industry.

Lids, special frames, drains, specialized pockets, self-raising platforms, removable caters, and tow bars are few of the customized features provided by manufacturers. While major poly trucks are made from plastic polymers, other materials such as canvas are also applied in the design of poly trucks.

Few of the trending features in the poly trucks market are customized sizes, designs, and light-weight, and easy equipment handling. In addition, easy replacement and repairing of poly truck accessories by manufacturers assist in enhancing the consumer pool of the poly trucks market.

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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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