Wheelbarrow Market Research: 2032
The Global Wheelbarrow Market Size was valued at $743.4 million in 2022, and is projected to reach $1.2 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.A wheelbarrow is a transporting device used to carry small loads by gardeners and construction workers. A wheelbarrow consists of single or multiple wheels and is a hand-driven vehicle, which is designed to be guided or pushed by a single person with the help of two handles at the rear.
Market Dynamics
Over the past ten years, the construction industry has experienced remarkable growth. Moreover, the U.S., China, and India are responsible for half of the world's growth. Due to the increase in population and the emergence of new firms and corporations, there is a greater need for residential and commercial assets for housing. The development of healthcare facilities, social welfare initiatives, educational infrastructure, and consumer retail marketplaces are all benefited by the growth of the global economy.
Due to the huge demand for homes and the limited time available, the building industry must speed up their manufacturing process to meet the demand on time. In the construction sector, a wheelbarrow is useful because it uniformly distributes the weight of the material between the wheel and the user. As a result, it is possible to transport bigger and larger weights more easily than if the operator had to carry the full load. The ongoing growth of the construction industry is expected to boost the wheelbarrow market growth.
The increase in demand for wheelbarrows from the agriculture and farming sector is due to the conveniences of transportation of materials such as fertilizer, animal feeding, and other material & supplies around the farm, from one place to another. In addition, wheelbarrows enhance the productivity and growth of agriculture and farming drastically. Moreover, it helps farmers to transport large quantities of good materials such as organic and inorganic manure around the farmland. In addition, the rise of e-commerce and online sales has played a significant role in driving the growth of wheelbarrows.
The availability of online marketplace and e-commerce platforms has made it easier for consumers to purchase products. In addition, the material handling equipment (MHE) industry is expected to continue to expand due to the more widespread use of customized systems and mining equipment.
Moreover, wheelbarrow machines are typically made of steel and plastic materials, owing to their high strength. Therefore, any fluctuations in the prices of steel make it difficult for the market players to stay profitable and decide on their budgets. For instance, the prices of hot rolled steel in the U.S. have increased by more than 215% to $1,825 since March 2020. Prior to that, its price was in the range of $500 to $800 in 2017. Moreover, the prices of metals increased two-fold since COVID-19. Such fluctuations play an instrumental role in restraining the growth of the wheelbarrow industry.
The demand for wheelbarrow decreased in the year 2020, owing to low demand from different industries due to lockdowns imposed by the government of many countries. The COVID-19 pandemic had shut down the production of various industries, mainly owing to prolonged lockdowns in major global countries.
This hampered the growth of the wheelbarrow market significantly during the pandemic. The major demand for wheelbarrows was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which was severely affected by the spread of coronavirus, thereby halting demand for wheelbarrows. Moreover, the market has recovered due to the launch of COVID-19 vaccine and the government has relaxed the lockdown norms.
Furthermore, the construction and agriculture industries have also grown because of the increased urbanization and industrialization of developing nations. Additionally, a growing population is a crucial factor in the market's growth in demand for infrastructure and construction projects. The ongoing development of industries is creating demand for new infrastructure building in different sectors including railways, roads, tunnels, non-residential and residential buildings, and mining. Wheelbarrows also make it simpler to move items from one place to another. This leads to rising demand for wheelbarrows, thereby creating a major opportunity in emerging countries for the growth of the wheelbarrow market.
Segmental Overview
The wheelbarrow market is segmented on the basis of a wheel, application, sales channel, and region. By wheel, the market is divided into single, double, and multi. By application, the market is classified into construction, industry, gardening, agriculture & livestock, and others. By sales channel, the market is bifurcated into online and offline. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
By Wheel:
The wheelbarrow market is categorized into single, double, and multi. The single wheelbarrow are considered in this segment. These wheelbarrows are small hand propelled vehicle used for material handling. It consists of single wheel mechanism. The double wheelbarrow is considered in this segment. Wheelbarrow are formed using steel and plastic materials. It consists of double wheel mechanism They are frequently employed in places where material handling is required such as gardening, agriculture and other.
Multi wheel wheelbarrow consist of more than two wheels which are stable and aligned in such a way that it does not require any support while stationary. Wheelbarrow are made of plastic or metal, are utilized at building sites, industrial plant, agriculture & livestock and other sectors for material handling application. The single segment is expected to exhibit the largest revenue contributor during the forecast period and multi segment is expected to exhibit the highest CAGR share in the by wheel segment in the wheelbarrow market during the forecast period.
By Application:
The wheelbarrow market is classified into construction, industrial, gardening, agriculture & livestock, and others. Construction industry requires wheelbarrow for material handling such as sand, aggregates, cement and other materials used in construction. Wheelbarrow reduces lots of efforts of the worker by handling good amount of material at a time. Industrials applications of wheelbarrow includes transport of raw material used in industry to remote location.
In gardening, wheelbarrows are used for a range of tasks, including transporting bricks, dumping garden waste, moving trees or large bushes from one location to another, or even mixing concrete or fertilizer. Agriculture and livestock sector requires wheelbarrow for the transportation of raw materials on farmland or to carry food for livestock. The others segment includes applications for warehousing, municipal, and mining sectors. The construction segment is expected to exhibit the largest revenue contributor during the forecast period and gardening is expected to exhibit the highest CAGR share in the by application segment in the wheelbarrow market during the forecast period.
By Sales Channel:
The wheelbarrow market is divided into online and offline. Online store is a virtual store where products & services do not need any physical space and are sold through websites. Heavy discounts and easy accessibility & offers provided by these online platforms make them a popular medium for the purchase of wheelbarrow. In addition, presently, online shopping has become a macro trend due to high internet penetration rate. The in-store channel consists of traditional distribution methods that involve direct communication between the distributor and customer.
The in-store method is extensively used for bulk purchase of wheelbarrow vehicles for large construction sites. The offline segment is expected to exhibit the largest revenue share in the sales channel segment in the wheelbarrow market outlook during the forecast period. The online segment is expected to exhibit the largest CAGR during the forecast period.
By Region:
The wheelbarrow market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2022, Asia-Pacific had the highest revenue in wheelbarrow market share. And LAMEA is expected to exhibit the highest CAGR during the forecast period.
Competition Analysis
The major players profiled in the wheelbarrow market analysis include Bullbarrow, Gorilla carts, Griffin Bros Truck & Equipment, Haemmerlin Ltd., Qingdao Taifa Group, QINGDAO XINJIANG HANDTRUCK CO., LTD, Silvan, Stanley, The Walsall Wheelbarrow Co Ltd., and Wolverine Products.
Major companies in the market have adopted several key developmental strategies such as product launch to offer better products and services to customers in the wheelbarrow market.
Some examples of product launch in the market
In February 2020 - Muck-Truck launched its new battery-powered wheelbarrow. It produced the Power Barrow 4WD, which uses two 12-volt batteries and a battery pack to lift and/or climb items with the same force as motors. Emptying the skip or bucket is as easy as pressing a button with the Power Barrow 4WD. This revolutionary feature lessens physical stress and the possibility of harm. The Power Barrow 4WD has an eight cubic foot carrying capacity and a 365-kilogram maximum weight capacity.
Some examples of business expansion that supports markets growth
In January 2022 - Fuji Electric Co. Ltd expanded its Plant Systems Centre at its Tokyo Factory to boost the production system and plant system development to grow the systems business. 13,030 square meters is the entire floor space of the new building. Wheelbarrow demand is anticipated to increase with business expansion.
In February 2021, Finland launched a broad-based initiative to update and deploy 6G mobile networks in the Nordic region by 2030. Additionally, this will increase demand for infrastructure improvement, which in turn fuels the industry.
In November 2021, E-magazine as mentioned in the article "Curitiba, Brazil to Inaugurate First Public Smart Building in 2022" by Archi Expo, City Hall began construction on the first 788 new homes under the Programme in December, spending about $10 million. Wheelbarrows will be needed at building sites for such development operations to handle materials.
In August 2022, European Investment Bank (EIB), supported social and affordable housing in Hanover with $65 million. Such developments drive the market and are expected to boost the wheelbarrow market.
In February 2023, the government of Canada announced to the investment of around $19 million in agriculture and agri-food based projects. Thus, increasing the growth of the agriculture business is expected to create demand for wheelbarrows for material handling.
In May 2022, as per the article published by the UK.gov website the UK TIFF (total income from farming) has grown by approximately 14% by exhibiting around $ 6100 million in 2021. The wheelbarrow is used for material handling in the agriculture sector.
In February 2022, UR Linkage Co Ltd presented a study plan to engage in the development of a 2,000-unit housing complex in Siem Reap that meets Japanese standards. During the forecast period, these factors are anticipated to propel the residential real estate industry. As a result, this is increasing the need for wheelbarrows, which is fueling the market's expansion.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wheelbarrow market forecast analysis from 2022 to 2032 to identify the prevailing wheelbarrow market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the wheelbarrow market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global wheelbarrow market trends, key players, market segments, application areas, and market growth strategies.
Wheelbarrow Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 1.2 billion |
 Growth Rate | CAGR of 4.6% |
 Forecast period | 2022 - 2032 |
 Report Pages | 210 |
 By Wheel |
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 By Application |
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 By Sales Channel |
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 By Region |
|
 Key Market Players | Haemmerlin, QINGDAO XINJIANG HANDTRUCK CO., LTD, The Walsall Wheelbarrow Co Ltd., SILVAN Australia Pty Ltd., Stanley, Wolverine Products, Bullbarrow, Qingdao Taifa Group, Gorilla Carts, Griffin Bros Truck & Equipment |
Analyst Review
The global wheelbarrow market witnessed huge demand in Asia-Pacific. The highest share of the Asia-Pacific market is attributed to increase in demand for infrastructure development in residential and non-residential construction.
Wheelbarrow is a hand-driven vehicle with one or more wheels that are intended to be pushed or directed by a single person. An upsurge in the number of non-residential projects such as hotels, schools, hospitals, and industrial buildings has increased the demand for wheelbarrows. In addition, growth in the agriculture sector drives the market expansion. Moreover, the fluctuations in the prices of the raw materials make it difficult for the wheelbarrow market players to stay profitable and decide on their budgets, which impedes the market growth. Furthermore, rapid urbanization and industrialization in developing countries have given rise to the construction and agricultural sectors, which in turn, is expected to act as a major opportunity in emerging countries for the growth of the wheelbarrow market.
The major players profiled in the wheelbarrow market include Bullbarrow, Gorilla carts, Griffin Bros Truck & Equipment, Haemmerlin Ltd., Qingdao Taifa Group, QINGDAO XINJIANG HANDTRUCK CO.,LTD, Silvan, Stanley, The Walsall Wheelbarrow Co Ltd., and Wolverine Products.
The global wheelbarrow market was valued at $743.4 million in 2022, and is projected to reach $1,180.96 million by 2032, registering a CAGR of 4.6% from 2023 to 2032.
The forecast period considered for the global wheelbarrow market is 2023 to 2032, wherein, 2022 is the base year, 2023 is the estimated year, and 2031 is the forecast year.
The latest version of the global wheelbarrow market report can be obtained on demand from the website.
The base year considered in the global wheelbarrow market report is 2022.
The major players profiled in the wheelbarrow market include Bullbarrow, Gorilla carts, Griffin Bros Truck & Equipment, Haemmerlin Ltd., Qingdao Taifa Group, QINGDAO XINJIANG HANDTRUCK CO.,LTD, Silvan, Stanley, The Walsall Wheelbarrow Co Ltd., and Wolverine Products.
The top ten market players are selected based on two key attributes - competitive strength and market positioning.
The report contains an exclusive company profile section, where leading companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies, and recent developments.
Based on wheel, the single segment dominated the market in 2022.
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