Press release
Demand For Material Handling Equipment Is Progressing At A Rapid Pace During 2022- 2032
About the ReportThe global material buggy market is expected to expand at an impressive CAGR of around 7% over the forecast period of 2021 to 2031, with the mining & construction industry accounting for bulk of the demand.
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Demand for material handling equipment has been progressing at a rapid pace over the past several years. Material buggies account for less than one percent of the global material handling equipment industry. Apart from material buggies, manual material carrying buggies are used in construction and mining industries.
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Historical Trends Vs. Future Market Projections
Historically, from 2016 to 2020, use of material buggies increased at around 4.4% CAGR, and the key factor assisting this growth is their advantages over traditional manual material carrying equipment.
For instance, manual material carrying equipment takes lots of time to carry material one place to another as compared to material buggies, and the chances of accidents are also high. Material buggies come with various payload capacities, and buyers can choose according to their needs.
Material buggies are most effective in large construction and mining jobsite areas. Material buggies provides the advantage of automatic dumping process with the help of a hydraulic system. They are also easily accessible in underground mining areas.
The market is forecasted to expand at the CAGR of around 7% over the coming 10 years. Prime factor influencing market growth is rising construction of residential building and mining in developing countries.
Also, with advancements of automation in technology, demand is expected to rise due to the ability to carry material and dumping material with the help of advanced technology and provide more reliable results. This enhances the opportunity for material buggy manufacturers to increase overall sales in market.
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What are the Key Opportunities for Material Buggy Manufacturers?
With increase in demand for material buggies, manufacturers have an opportunity to set up their manufacturing plants beyond their domestic markets to cut down on prices, among other benefits.
North America- and Europe-based buggy manufacturing companies should look for opportunities to start production in countries such as China, India, and Vietnam, as these countries are offering lower operating costs, particularly reduced labour costs as compared to Europe and North America. Companies will save approximately 10% in salary payments by setting up production centers in these regions.
Increase in mining and other end-use industries in East Asia, South Asia, and Africa has increased the market widely for companies to set up their plants close to these sites, so as to reduce supply chain costs and associated taxes.
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Key Market Segments Covered
By Engine
Electric Material Buggies
Petrol Material Buggies
Diesel Material Buggies
Gas Material Buggies
By Type
Tracked Material Buggies
Wheel Material Buggies
By Payload
Below 600 kg Material Buggies
600 TO 800 kg Material Buggies
800 to 1000 kg Material Buggies
1000 to 1200 kg Material Buggies
More than 1200 kg Material Buggies
By Moving Speed
Less than 10 km/hr Material Buggies
10 to 12 km/hr Material Buggies
12 to 14 km/hr Material Buggies
14 to 16 km/hr Material Buggies
By Engine Power
Less than 10 hp Material Buggies
10 to 15 hp Material Buggies
15 to 20 hp Material Buggies
20 to 25 hp Material Buggies
By Sales Channel
Material Buggies through Direct Sales
Material Buggies through Distributor Sales
By Region
North America
Latin America
Europe
East Asia
MEA
South Asia & Pacific
Competitive Landscape
Majority of the companies discussed in the material buggy industry report have focused on establishing subsidiaries in developing regions. Strategies include product launches, collaborations with key players, partnerships, acquisitions, and strengthening of regional and global distribution networks. Some of the key development are:
In March 2020, C & F participated in CONEXPO – LAS VEGAS, NV (USA), the biggest trade fair show for building material machines, mining machines, construction vehicles, and construction equipment in North America.
In September 2019, The Toro Company and Tractor Supply Company announced a long-term strategic partnership for farm and ranch channels.
In February 2019, Operval joined Unacea, an Italian trade association for construction equipment, to expand its construction business to other countries.
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