The global tail lift market is expected to witness a strong growth rate over the forecast period on the backdrop of rising global freight volume and growing demand for tail lift in the end use sectors. The global market for tail lift is anticipated to reach over 900 thousand units by 2019 end with Y-o-Y increment of more than 6% in 2019 over 2018.
A significant growth in e-commerce and fast moving consumer goods are expected to propel the growth of global logistics and transportation industry, which in turn will upsurge the overall sales of tail lifts across developed as well as developing countries.
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In addition, the rising commercial uses of tail lift in several end use applications including, waste management and emergency services are anticipated to create remunerative market opportunities for key manufacturers and owners to maintain their market position and amplify overall value chain of tail lifts over the forecast period.
Cantilevers Account for Over 4 in 10 Sales of Tail Lifts
According to study, the cantilever type holds the leading market share in the global tail lift market and accounts for over 4 in 10 sales of tail lifts in 2018. High demand of cantilevers among the tail lift owners can be attributed to proliferation in logistics and transportation activities across the globe.
Furthermore, global unit sales of cantilever tail lift continue to witness strong growth during forecast period owing to rising demand for hydraulic cantilever tail lifts for reducing lead time and increasing the productivity of warehouse or inventory in the transportation and logistics industry.
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”Connected Tail Lift” in Portfolio Wish List of Manufacturers
The industry giants in global tail lift market are continuously focusing on developing more efficient and safer tail lifts. The prime area of development is the safety in operations and product fall protection of tail lifts. Rising safety awareness in several countries and various regulatory standards are driving the demand of safer tail lifts in the global market.
The tail lifts has to be type approved for the vehicle to comply with Whole Vehicle Type Approval (WVTA) to be installed in a vehicle. The tail lift manufacturers also have to follow the standards set by Lifting Operations and Lifting Equipment Regulations (LOLER).
Furthermore, the key players are also focusing on reducing the operational time of a tail lift to provide more efficient operations and decrease the overall lead time. For instance, in early 2018, Dhollandia N.V., a leading European manufacturer, has launched a new communication device for tail lifts. The “Connected Tail Lift” enables the intelligent operations and management of tail lifts.
Widespread E-commerce Sector Transforming Industry Dynamics
Owing to the increasing growth of the e-commerce sector and international trade, the trend of warehousing has emerged to become extremely popular among manufacturers across the globe. Increasing adoption of warehouses and distribution centers creates demand for sustainable weight carrying systems, which is one of the leading driving engines for the global tail lift market.
However, the rise in the trend of automating warehouses and product transportation systems may require market players to modify their manufacturing strategies in the near future. Tail lifts that are integrated with technologically advanced features may witness high demand in the upcoming years, changing dynamics of the global tail lift market.
Hydraulic Tail Lifts – Creating Avenues of Growth
The global tail lift market is expected to grow 1.8x by 2027 as compared to 2019 due to increasing industrialization and urbanization in emerging economies. Furthermore, the growing demand for highly efficient and reliable solutions have created lucrative opportunities for the manufacturers to shift their focus towards hydraulic tail lifts.
The overall adoption rate of hydraulic tail lift is anticipated to remain a key factor in driving the global tail lift market over the forecast period owing to its several advantages over mechanical and pneumatic tail lifts such as low maintenance cost and faster loading/unloading operations.
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