Reach Trucks Market Analysis 2026 with Technology Advancements by Key Players: KION Group AG, Jungheinrich, Hangcha Group Co., Ltd

Reach Trucks Market by Load Capacity and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026. According to the report, the global reach trucks industry garnered $2.58 billion in 2018, and is estimated to reach $4.08 billion by 2026, growing at a CAGR of 5.6% from 2019 to 2026.

Increase in focus toward robust and compact material handling equipment, versatile benefits associated with reach trucks, and increase in infrastructure projects globally fuel the growth of the global reach trucks market. On the other hand, rise in trend of adoption of forklift and increase in prices of raw materials impede the growth to a certain extent. Nevertheless, technical innovation in reach trucks is expected to create lucrative opportunities for the key players in the industry.

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Based on type, the less than or equal to 2000 kg segment contributed to around three-fourths of the global reach trucks market share in 2018, and is expected to rule the roost by the end of 2026. This is due to their environment-friendly nature as they rely on batteries and produce no exhaust emissions. Simultaneously, the more than 2000 kg segment would cite the fastest CAGR of 6.4% from 2019 to 2026. Large market penetration and wide scope of application have boosted the growth of the segment.

In 2018, on the basis of end-user, the retail & wholesale segment garnered a significant market share, owing to the expansion of the e-commerce sector in developing regions. In addition, logistics and food & beverages segments are expected to exhibit significant growth during the forecast period. In terms of region, Asia-Pacific and Europe collectively contributed around 74.8% of the total share in the global reach trucks market in 2018.

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Based on geography, the market across Asia-Pacific accounted for nearly two-fifths of the global reach trucks market revenue in 2018 and is projected to dominate throughout the study period. In addition, the region would register the fastest CAGR of 6.7% by 2026. This is attributed to the significant number of ongoing infrastructure and development projects in China and India. On the other hand, North America is expected to manifest a CAGR of 3.5% by 2026.

The major players operating in the global reach trucks market have adopted key strategies such as product development to strengthen their market outreach and sustain the stiff competition in the market. For instance, in April 2019, Crown launched SHC 5500 series counter-balance reach trucks. These trucks are designed for easy maneuvering and positioning of heavy loads in compact and tight spaces, such as warehouses, docks, and racks. It features a lift height of 114 to 172 inches.

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Key offerings of the report:
1. Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
2. Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
3. Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
4. Regional Analysis: Thorough analysis of each region helps market players devise expansion strategies and take a leap.
5. Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.

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