The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global platform trolley market. In addition, complete analysis of changes on the global platform trolley market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. During COVID-19 pandemic, global platform trolley market was more or less affected due to supply chain distribution, declining demand for platform trolley from various application like airport cargo which has certainly affected the market growth to major extend. However, post COVID-19 the market has witnessed the rising new growth opportunities and is expected to have emerging demand in upcoming years.
Urbanization is the key factor driving the demand for shopping baskets. Rising investments in infrastructure have led to growing urbanization and setting up of malls and shopping complexes. Consumers prefer to buy products from malls and shopping complexes, wherein platform trolley are used. Increasing disposable income is resulting in purchase of products from supermarkets and hypermarkets. It has also led to impulse of buying products and more frequent visits to departmental stores and grocery stores. Most end-users such as departmental stores offer discount to customers, which helps increase the footfall in stores, driving the use of platform trolley. Opening of supermarkets and hypermarkets in cities has prompted departmental stores and other shops to use shopping baskets for customers’ comfort. Shopping baskets help customers carry products easily. Some of the departmental stores offer large-sized shopping baskets in order to make their customers buy a greater number of products.
One of the primary factors which is expected to drive the growth of the market is increasing need for platform trolley from commercial places such as hotels, restaurants, supermarket and hypermarket and airports where heavy loads are needed to take from one place to another.
Another major factor taken into consideration is swiftly growing construction industry is putting the lime light on growing needs of platform carts at construction sites for transporting goods and luggage in a convenient way which is predicted to increase adoption rate of platform trolleys in the coming years.
Certain restraints and disadvantages can affect the demand for platform trolley. Platform trolley made from plastic incur more wear-and-tear costs and they are more prone to damage. Shopping baskets made of steel may get corroded over the period of time, which may affect the basket performance.
Fluctuation in raw material price is a major challenge for platform trolley. Fluctuation in raw material effects the final retail price that also effect final product price.
The report provides in-depth analysis of global platform trolley market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various platform trolley in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
The global platform trolley market comprises of different market segment like material type, application, product type, and geography.
The material type studied in the global platform trolley market are zinc plated, plastic, and stainless steel. plastic platform trolley is expected to hold major share in the global platform trolley market. It is best suited when one’s primary concern is maximum load capacity as it is strongest and toughest as compare to stainless still material type product. Plastic material type segment is expected to hold its dominance over other segment over the forecast period owing to its easy-to-handle property, rust resistant and durability.
The global platform trolley market finds its major application in airport cargo, e-commerce & courier, manufacturing, retail warehousing & storage, and hospitality & hotels. warehousing is likely to gain major market share during the estimated time period. important application of platform trolley is a warehouse where this product plays crucial role in managing products efficiently.
Foldable and fixed are the product type of the platform trolly in the market. The foldable platform trolley is the fastest growing segment in the market, by product type. According to the opinions learnt from the end users, when one has to transport the material in bulk amount foldable product type is good for every time usage due to its bigger size and can be store anywhere and anytime. Hence, it is projected that the foldable product type is expected to account for the higher share over other segments throughout the forecast period.
The global platform trolley market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). Europe is likely to witness rising demand for platform trolley market. Growing retail sector in particularly in countries of Eastern European is expected to drive the demand of the product in upcoming years. Hence, this region is expected to grow with the significant growth rate over the forecast period.
The competitive landscape analysis of platform trolley market is certainly based range of market players operating in the consumer goods market with increasing demand for production of platform trolley. Besides, number of market players offered wide range of products for different application in various geographic locations. The market has major competitive analysis based on new product launches as well as other developments.
The key players studied in market are Protaurus, Wanzl, Novodinamica, National Cart, Sambo, STANLEY, Harper Trucks, Breg Products, Richmond Wheel and Castor Co., Cefla. E S Industries, Hoffmann SE, CARL ROTH, Trident Industries, Keddy Concept, RKS ENGINEERING INDUSTRIES, Design by Scorpio Technologies, among others.
Platform trolley which are present in edible insect are generally rich in protein, fat and energy. The platform trolley is ideally a significant source of vitamin and minerals. Besides, the worldwide, the demand for platform trolley is rising at specific pace as the platform trolley are mostly consider as alternative protein source in food and feeds. This can further contribute to food and feed security. Alternatively, surging adoption of sustainable industrial farming is the major factor propelling the demand for market. Likewise, global platform trolley market comprises of different market segment like insect type, application and geography. The insect type studied in the global platform trolley market are crickets, black soldier flies, mealworms, ants, grasshoppers, others. Different insect type often have use of their protein in different applications. For example, Cricket are a complete protein source, containing all the essential amino acids. The global platform trolley market finds its major application in food & beverages, animal nutrition, pharmaceutical & cosmetics and other. Animal nutrition is further bifurcated into aquafeed, poultry feed, pet food and others. Food & beverages is likely to gain major market share during the estimated time period. The global platform trolley market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is likely to witness rising demand for platform trolley market.
1) What are the drivers for platform trolley market?
The key driving factors of the market are increasing demand for alternate protein, food security & sustainability and surging adoption of sustainable industrial farming
2) Which is the leading application segment for platform trolley market?
Food & beverages has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
3) Which region is gaining majority of market share during the forecast period (2022-2028)?
North America is expected to gain major market share during the forecast period (2022-2028).