Tail lift Market is valued at USD 627.70 Million in 2018 and expected to reach USD 1405.09 Million by 2025 with the CAGR of 12.20% over the forecast period."
Rising demand for logistics operations due to surge in e-commerce, fast moving consumer goods and online shopping as well as boost in automobile & other manufacturing industries are some important factor driving the growth of Tail lift market.
Key players for global Tail lift market reports –
Global tail lift market reports cover prominent players like BAR Cargolift, Dhollandia, PALFINGER, Anteo, Wastech, Tailifts, Cargotec, DAUTEL, Woodbine Manufacturing Company, Sorensen Hydraulik GmbH, Behrens Eurolift and many others.
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Scope of the Tail lift Market Report:
A tail lift is designed to facilitate the material handling of goods from ground level or a loading dock to the level of the warehouse, vehicle bed, or vice versa. The tail lift consists of mechanical hydraulic or pneumatic arrangement that permanently installed on the rear of a work truck, van, or lorry. Tail lift are responsible for safely load and unload the goods into the trucks with cost efficient, flexibility and a high level of operating comfort for users. The tail lift has been implemented in every industry such as automobiles, healthcare, pharmaceuticals, food and transport logistics, waste management, emergency services, local authorities as well as leasing and rental business and many others to carry goods.
The service network using the tail lift guarantees unrestricted and optimum service with safe loading for each and every customer. During logistics service, heavy materials loading and unloading are often handled manually by workers which causes health issues and injuries. But with the help of tail lift manual handling of heavy loads can be avoided. Thus, tail lift with technical innovations has been implemented in every manufacturing industry to reduce the efforts of workers. Many companies are focusing on adopting advanced technology exoskeleton systems of tail lift to enhance material and goods handling capacity and operability. Thus, increasing use of such advanced technology in warehouse operations as well as rising logistics demand are expected to drive the demand for tail lifts during the forecast period.
The global tail lift market has been classified into product type, applications and regions. The global tail lift market on the basis of product type segment has been categorized into cantilever lifts, column lift, tuck away lifts, and slider tail lifts. Based on application, the global tail lift market has been divided into aerospace and defense, food and transport logistics, waste management, leasing and rental business, healthcare & medical devices companies, automotive manufacturing companies, emergency services and many others.
Tail lifts Market Segmentation –
by Product Type
The regions covered in global tail lift market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, Global tail lift market sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Tail lift market dynamics –
The key factor for growth of global tail lift market is the rise of demand for the logistic operations in the pharmaceutical, automobile companies and various manufacturing industries as well as rising trend of e-commerce from business to business (B2B), business to customer (B2C) are some major aspect to driving the tail lift market. According to the report of World Economic Forum, annual global growth rate of e‑commerce sector was 17% between 2017 and 2022, compared with 12% in 2015 for overall e‑commerce cross‑borders’ and domestic, B2B and B2C. A report by DHL has predicted that cross‑border e‑commerce accounted for 15% of total e‑commerce sales and will astoundingly expand to 22% in the year 2020. This massive rise in e-commerce industry will generate the demand for tail lifts to facilitate the easy transportation and other related activities in the logistic department for safely loading and unloading the goods.
However, stringent regulations with respect to the manufacturer for workers safety, high operational and maintenance cost associated with tail lifts as these used for heavy material lifting, and loading and unloading of heavy goods may responsible to hamper the growth of tail lifts market. Moreover rising the number of manufacturing industries with technological advancement in tail lift using hydraulic and pneumatic as well as rising mergers & acquisitions in the tail lift manufacturing industry have created huge opportunity to fuel the global tail lift market during the forecast period. Recently in 2018, one of the leading manufacturer of tail lift Anteo had been partnered with Tommy Gate to expand its light and medium duty tail lift product range in the global market.
Tail lifts Market Regional Analysis –
Asia Pacific is dominating the tail lift market with the potential rate due to surge in the e-commerce business related to food & transportation, packaging, automobile and electronic industries in this region. The Asia-Pacific region is home to more than 600 million consumers out of which 260 million people are already online which accounts for online shopping. According to the World Economic Forum, the e‑commerce market is expected to grow with an exponential annual growth rate of 32% during the next five years as several major e‑commerce platforms have increased their interest in this region.
North America and Europe are expected to dominate in future due to the growing pharmaceutical, healthcare, bio products, and renewable energy initiatives as well as medical devices industries with the potential rate which enhances the use of tail lifts in these sectors. According to EFPIA in 2017, North America had accounted for 48.1% of world pharmaceutical sales compared with 22.2% in Europe which are responsible to generate the demand of tail lift in the pharmaceutical industries.
Key Benefits for Tail lift Market Reports –
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