Global Wheelbarrows Market – Introduction
- Wheelbarrow is a transporter device or hand-propelled vehicle which is used to carry small loads by construction workers and gardeners. A wheelbarrow usually has one wheel, (sometimes it has two wheels).
- 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 such as motorized, gasoline, gas, electric, folding, two wheel, and heavy duty.
- Wheelbarrows are mostly made of wood, plastic, and metal. Wheelbarrows are customized, multipurpose, and need-based products that have a compartment to store the load.
- The global wheelbarrows market is predicted to expand at a rapid pace during the forecast period, owing to increased demand for wheelbarrows from the construction industry.
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Key Drivers of the Global Wheelbarrows Market
- Wheelbarrows move through narrow roads where vehicles cannot access, are pollution free and eco-friendly, cost effective, and carries more goods or material than a person can carry at a time. This is expected to propel the market growth in the forthcoming years.
- 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.
- Infrastructure development is taking place at a rapid pace across the globe, and further expected to drive the wheelbarrows market in the near future.
- Rapid increase in the number of retail stores, supermarkets, and hospitals is anticipated to drive the demand for wheelbarrows globally.
Availability of alternatives hampers the wheelbarrows market
- Manufacturers of wheelbarrows face intense competition due to the availability of cheap alternatives, which is anticipated to hinder the demand for wheelbarrows.
- Availability of wheelbarrows on rent at very cheap rates is anticipated to hinder the market in the next few years.
Asia Pacific to Hold a Major Share of the Global Wheelbarrows Market
- In terms of region, the wheelbarrows market is segmented into North America, Europe, South America, Middle East & Africa, and Asia Pacific.
- Asia Pacific is a leading market for wheelbarrows, followed by North America and Europe. China and India are key markets in the region. In terms of demand, the two countries account for more than 50% share of the market for wheelbarrows in the region. This is primarily because these countries are working toward infrastructure development.
- The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period. This is primarily due to the rapid rise in construction activities such as power generation projects, highway construction, railway expansion, and export and import of cargo.
- The wheelbarrows market in Middle East & Africa is estimated to expand at a rapid pace during the forecast period, followed by Europe and Asia Pacific. This can be attributed to global infrastructure development of countries in the last decade in the region.
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Global Wheelbarrows Market – Competitive Landscape
Numerous local, regional, and international players in the market manufacture wheelbarrows. Easy availability of raw materials and the simple manufacturing process makes the wheelbarrows market fragmented. Furthermore, rapid technological advancements have led to a threat of substitution in the wheelbarrows market. Manufacturers of wheelbarrows adopt two strategies: acquisition and partnerships. Key players operating in the global wheelbarrows market include:
- Bullbarrow Products
- Gorilla Carts
- Griffon Corporation
- Haemmerlin – CDH Group
- Qingdao Huatian Hand Truck
- Qingdao Runda Wheel Barrow
- Qingdao Taifa Group
- Qingdao Xinjiang Group
- Qingdao Zhenhua Barrow Manufacturing
- Silvan Australia Pty Ltd.
- The Walsall Wheelbarrow Company
- Wolverine Products
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