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Allied Market Research

Wheelbarrow Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Aug 2021 | 360 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Wheelbarrow Market Outlook - 2027

A wheelbarrow is a small hand-propelled vehicle, usually with just one wheel, designed to be pushed and guided by a single person using two handles at the rear. It is a transporter device used to carry small loads by construction workers and gardeners. 

A wheelbarrow mainly consists of three parts—a tray, wheel, and handle. The wheel can be pneumatic, semi-pneumatic, or non-pneumatic. Various types of wheelbarrows are available. These include motorized, gasoline, gas, electric, folding, two wheel, and heavy duty.

Wheelbarrows are mostly made up of wood, plastic, and metal. They are customized, multi-purpose, and need-based products that have a compartment to store the load. The global wheelbarrows market is predicted to expand at a faster rate during the forecast period, owing to increased demand for wheelbarrows from the construction industry.

Growth of the electric wheelbarrow market can be attributed to the increase in demand from the construction industry. This industry has experienced a major change in the past few years. Restoration and maintenance operations along with the shift to retrofitting practices and sustainable building development drives the growth of the construction market in the developed countries such as the U.S. and the UK where infrastructure is experiencing a problem of aging. The construction industry offers huge opportunity for the growth of the electric wheelbarrow market. Many emerging countries including India, Qatar, and Saudi Arabia are heavily investing in the development of smart cities with huge government initiatives. These large-scale developments and investments are expected to drive the demand for electric wheelbarrows in construction activities and are expected to foster the growth of the market in the near future.

Market scope and structure analysis:

            Report Metric

                                           Details

  Market Size Available for Years

  2019–2027

  Base Year Considered

  2019

  Forecast Period

  2020–2027

  Forecast Units

  Value ($U.S. Million)

  Segments Covered

  Type, Application,  and Region

  Regions Covered

North America (U.S. and Canada), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

Qingdao Taifa Group, Qingdao Huatian Hand Truck, Qingdao Xinjiang Group, Qingdao Runda Wheel Barrow, Griffon,  Haemmerlin, Qingdao Zhenhua Barrow Manufacturing, Silvan, Stanley, Linyi Tianli, Sponsor Advertis

 

Covid-19 Impact On Market 

  • COVID-19 pandemic has shut down the production of various products in the industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of market significantly from last few months, as is likely to continue during 2020.
  • COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Increase in demand for wheelbarrows

Wheelbarrows move through narrow roads. They are pollution free, cost effective, and carry more goods or material than a person can carry at a time. This is expected to increase the market growth in the coming years. Rise in demand for wheelbarrows from the non-residential market (hospitality industry, healthcare industry, and food services) is estimated to boost the growth of the wheelbarrows market in the near future. Increasing demand for the wheelbarrows, developing end-user industries, favorable market structure, raw material affluence, high demand, and product awareness fuel the development of the global wheelbarrows market. Moreover, the rise in demand for wheelbarrows from the non-residential market (hospitality industry, healthcare industry, and food services) is projected to boost the wheelbarrows market in the near future. The construction industry is growing exponentially across the globe, which is likely to indirectly influence the demand for wheelbarrows during the forecast period. Furthermore, the increase in the number of retail stores, supermarkets, and hospitals is anticipated to drive the demand for wheelbarrows globally

Growth in construction industry

The construction industry is growing at a high pace across the globe, which is anticipated to indirectly influence the demand for wheelbarrows during the forecast period. Infrastructure development is taking place at a rapid pace across the globe, and is further expected to drive the wheelbarrows market growth in the near future. Rapid increase in the number of retail stores, supermarkets, and hospitals is expected to drive the demand for wheelbarrows across the globe.

Key segments covered:

                Segments

                                     Sub-segments

  Product Type

Traditional Wheelbarrows

Hand Trucks

  Application

Construction Applications

Industrial Applications

Home Applications

Agriculture and Livestock

  Region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

 

Key benefits of the report:

  • This study presents the analytical depiction of the global wheelbarrow industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global wheelbarrow market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global wheelbarrow market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global wheelbarrow market analysis based on competitive intensity and how the competition will take shape in coming years. 
 
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