Global Electric Wheelbarrow Market 2019-2023
About this market
Growing popularity of non-marking tires to drive growth of the market. Non-marking tires exhibit various benefits which includes reduction in floor marking, performance of tires is same as that of black tires, and reduction in floor cleaning requirements. Technavio’s analysts have predicted that the electric wheelbarrow market will register a CAGR of more than 2% by 2023.
Growth of global construction market
Governments of various countries such as India, Saudi Arabia, and Qatar are investing heavily in the development of smart cities. These large-scale developments are expected to boost the demand for electric wheelbarrows in construction activities.
Growing preference for rental options affecting sales revenue
Most of the warehouse companies prefer to rent logistics equipment, including electric wheelbarrows and trolleys, rather than buying them. This affects the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the electric wheelbarrow market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Ren Jieh and Zallys the competitive environment is quite intense. Factors such as the growing popularity of non-marking tires and the growth of global construction market, will provide considerable growth opportunities to electric wheelbarrow manufactures. Etesia UK, Macauto, PowerPac Baumaschinen, Ren Jieh, and Zallys are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Electric Wheelbarrow Market 2019-2023
Technavio recognizes the following companies as the key players in the global electric wheelbarrow market: Etesia UK, Macauto, PowerPac Baumaschinen, Ren Jieh, and Zallys.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the growing popularity of non-marking tires.”
According to the report, one of the major drivers for this market is the growth of global construction market.
Further, the report states that one of the major factors hindering the growth of this market is the growing preference for rental options affecting sales revenue.