Rockville, MD., July 24, 2024 (GLOBE NEWSWIRE) -- As per an updated industry report published by Fact.MR, the global Tail Lift Market is expected to be worth US$ 80.36 billion in 2024 and further advance at a CAGR of 6.3% from 2024 to 2034.
Tail lifts are seeing a sharp increase in demand due to their adaptability and wide range of applications in a variety of sectors. Originally intended for the loading and unloading of large objects from vehicles, these hydraulic lifting platforms have made their way into several other industries, changing the face of accessibility and logistics.
Tail lifts are essential for effective last-mile delivery in e-commerce, allowing for speedy and secure handling of items. They are used by the healthcare sector to move medical equipment and increase patient accessibility. Tail lifts are used in the construction and industrial industries to move large equipment and supplies, improving worker safety and output.
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Tail lifts are used by event management businesses for quick equipment setup and teardown, and the trash management sector embraced them for better handling of huge garbage containers. Tail lifts on public transit have made it more accessible for those with mobility impairments.
Need for tail lifts is only set to rise steadily as the world's safety rules tighten and urbanization rates rise. They are an essential component of contemporary logistics and transportation systems around the globe due to their capacity to increase productivity, decrease manual labor, and enhance safety in several applications.
Key Takeaways from the Tail Lifts Market Study:
- The global tail lift market is forecasted to reach a valuation of US$ 148.04 billion by the end of 2034.
- North America is projected to account for 33.8% of the global market share by 2034.
- The East Asia market is forecasted to expand at a CAGR of 6.6% to reach a valuation of US$ 34.93 billion by the end of 2034.
- Revenue from the market in Canada is analyzed to rise at a CAGR of 8.3% from 2024 to 2034.
- The Japan market is forecasted to reach a value of US$ 9.03 billion by 2034.
- Greater than 3,000 kg tail lift sales are expected to reach US$ 8.76 billion in 2024.
“Tail lifts have become essential tools in modern logistics and transportation systems globally due to their ability to adapt to multiple applications and enhance efficiency, safety, and accessibility,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Tail Lifts Market:
Some of the prominent manufacturers of Cargotec Corporation; Dhollandia N.V.; Palfinger Tail Lifts GmbH; Dautel GmbH; BärCargolift; Anteo; Wastech; Penny Hydraulics Ltd.; Maxon Lift Corp.; Palfinger AG; Sörensen Hydraulik GmbH.
Integration of IoT in Tail Lifts Boosting Their Efficiency:
An important development is the integration of smart technologies. Modern tail lifts now feature sensors and IoT connectivity to monitor lift performance in real time, enhancing safety and enabling predictive maintenance. Many models also include automated leveling systems and obstacle detection to further improve operational efficiency and safety.
There is a growing trend towards greener options such as electric and hybrid tail lifts. These systems are ideal for urban delivery and environmentally sensitive industries as they reduce emissions and noise pollution.
Manufacturers are increasingly offering customization options, providing specialized solutions tailored to specific sectors. This includes platforms designed for different types of cargo and flexible designs that can be adapted to various vehicle configurations.
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Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Lifting Capacity:
- Up to 1,000 kg
- 1,001 to 2,000 kg
- 2,001 to 3,000 kg
- Greater Than 3,000 kg
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product:
- Columns
- Cantilevers
- Tuckaway
- Sliders
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Ownership:
- Government
- Rental Fleet Operators
- Industrial & Commercial Enterprises
Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use:
- Logistics
- Waste Management
- Medical Emergency Vehicles
More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the tail lift market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on lifting capacity (up to 1,000 kgs, 1,001 to 2,000 kgs, 2,001 to 3,000 kgs, greater than 3,000 kgs), product (columns, cantilevers, tuckaway, sliders), ownership (government, federal, industrial), and end use (logistics, waste management, medical emergency vehicles), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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