Market Research Report
Global Tail Lift Market 2018-2022
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||754247|
|Published||Content info||102 Pages
Delivery time: 1-2 business days
|Global Tail Lift Market 2018-2022|
|Published: November 21, 2018||Content info: 102 Pages||
Regulatory authorities are focusing on the improvement of tail lift safety due to increasing number of accidents being reported while operating tail lifts. For instance, an automatic tail lift tripping system was proposed by the Hong Kong Productivity Council (HKPC) which will be equipped with a foot protector and a tripping device. The foot protector uses a photoelectric retro-reflective sensor to detect the operator's feet when the tail lift is moving up. A laser scanner is used in the tripping device to detect any obstruction during the closing of tail lifts. Both these devices will help in stopping the operation of tail lifts in case of emergency. The safety of tail lifts can be further enhanced by adding two-hand control devices, buzzers, and flashing lamps. Thus, the availability of safety devices is expected to augment the growth of the tail lift market during the forecast period. Technavio's analysts have predicted that the tail lift market will register a CAGR of over 13% by 2022.
In the APAC region, the number of partnerships between vendors and other companies is increasing. Several companies are entering into partnerships to expand their operations and improve their aftersales service. There has also been an increase in the number of partnerships between vendors, especially in the Americas. The growing number of partnerships between vendors and other companies will improve the availability of tail lifts and drive market growth.
The direct and indirect costs involved in the operation of tail lifts is high. The cost of tail lift varies depending upon the load-carrying capacities, size, and application of tail lifts. Since tail lifts are used for lifting, loading, and unloading goods, the cost of maintenance also becomes high. The cost of operating tail lifts also increases as logistics companies must adhere to guidelines imposed by governments to ensure the safety of workers. Thus, the high operating cost of tail lifts is hampering the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the tail lift market during 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Anteo, and Cargotec the competitive environment is quite intense. Factors such as the growing number of partnerships between vendors and other companies, will provide considerable growth opportunities to tail lift manufacturers. Anteo, Cargotec, Dhollandia, Maxon lift, and Palfinger are some of the major companies covered in this report.