Insights Revealed by the Assessment on the Forklift Attachments Market Portray Substantial Gains, with the Market Expanding at between 2.9% to 4.2% CAGR from 2021 to 2031
According to latest research forklift attachments market is set to witness steady growth during 2021-2031. Demand for forklift will witness steady recovery in short term, with optimistic growth outlook in the long run. Surge demand for industrial vehicle components, thereby augmenting the need of forklift attachments over the forecast period.
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What is Driving Demand for Forklift Attachments?
A forklift is a motorised truck that is used to lift and move items. Over short distances, forklifts are used. Attachments are utilised to boost the truck’s adaptability as well as its capacity, stability, and visibility.
Attachments for forklifts add flexibility to operations and are designed to do so. Certain attachments, on the other hand, are intended to fit a variety of jobs, making them safer and faster. Forklift attachments like as side shifters, fork positioners, and paper roll clamps are widespread.
Furthermore, industrial forklift attachments are utilised to transport large building materials over long distances and over rugged terrains.
The usage of forklift attachments for short and medium distance material handling has spurred demand from a variety of end use industries, including manufacturing, paper ruling, shipping and freight, brick or stone distribution, and the automobile industry, among others.
The demand for attachments is expected to expand significantly as a result of the factors listed above, contributing to the global forklift attachments market during the forecast period.
Asia Pacific Forklift Attachments Demand Outlook
Asia Pacific is a prominent market in the world, with China leading the demand in Asia Pacific. In Asia Pacific other key markets include India, South Korea and Australia.
The demand growth can be attributed to high economy growth, large number of production facilities, rising adoption of technology as well as heavy logistics activities in the region.
Furthermore, manufacturing companies in Asia Pacific trying to target North America and APAC region to capture the market of hub bearing in near future to increase their market presence.
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Europe Forklift Attachments Sales Outlook
The COVID-19 crisis has had a significant impact on many European countries, resulting in a drop in economic activity. However, in automotive industry, Europe is home to a number of forklift attachment manufacturers, making the region a major producer of components and systems.
Countries in Europe such as Germany, U.K., France has grown significantly, which in turn, has mainly increased disposable income of the middle class in the region. This, in turn, is increasing propensity to consume various products, such as fruits, vegetables and beverages.
As the industry matures and supply-chains will become optimized with new technologies, the growth opportunities will increase for material handling businesses expected to grow at a rapid pace.
Who are the Key Manufacturers and Suppliers of Forklift Attachments?
Some of the leading manufacturers and suppliers includes
- Yale Chase Equipment and Services
- Jingjiang Shenli Fork lift Attachment Co. Ltd.
- Hyster-Yale Group Inc.
- Engineered Solutions
- Adaptalift Group
- BigRentz Inc.
- Contact
- Cascade Corporation
- Koke Inc.
- Toyota Material Handling U.S.A.
- Lifting Equipment Store
- CBI Fork lift Attachments
- Others.
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