The global material buggy market is expected to expand at an impressive CAGR of around 7% over the forecast period of 2021 to 2031, with the mining & construction industry accounting for bulk of the demand.
Demand for material handling equipment has been progressing at a rapid pace over the past several years. Material buggies account for less than one percent of the global material handling equipment industry. Apart from material buggies, manual material carrying buggies are used in construction and mining industries.
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At present, Europe holds the largest revenue share in the global material buggy space, owing to the well-established advanced material handling equipment industry in the region, especially the United Kingdom. The United Kingdom sold approximately 520 units of material buggies in 2020, which includes large numbers of diesel engine material buggies.
As per the report new published by Fact.MR, the global material buggy market is anticipated to exceed a valuation of US$ 230 Mn by 2021, and is expected to expand at an impressive CAGR of around 7% over the forecast period of 2021 to 2031.
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Key Takeaways from Market Study
- In 2020, one-third of market revenue was generated solely by the European region.
- Material buggies with diesel engines account for more than 40% of global sales.
- In 2020, North America and Europe together accounted for approximately 60% of global market share. The European market is expected to offer over US$ 77 Mn absolute dollar opportunity over the next ten years.
- The market for material buggies is moderately concentrated, where companies such as The Toro Company, Allen Engineering, and Bartell Global hold around 30% of the global market share.
- The market in East Asia is projected to expand at a CAGR of around 9.5% throughout 2021-2031.
Key Market Segments Covered
- By Engine
- Electric Material Buggies
- Petrol Material Buggies
- Diesel Material Buggies
- Gas Material Buggies
- By Type
- Tracked Material Buggies
- Wheel Material Buggies
- By Payload
- Below 600 kg Material Buggies
- 600 TO 800 kg Material Buggies
- 800 to 1000 kg Material Buggies
- 1000 to 1200 kg Material Buggies
- More than 1200 kg Material Buggies
- By Moving Speed
- Less than 10 km/hr Material Buggies
- 10 to 12 km/hr Material Buggies
- 12 to 14 km/hr Material Buggies
- 14 to 16 km/hr Material Buggies
- By Engine Power
- Less than 10 hp Material Buggies
- 10 to 15 hp Material Buggies
- 15 to 20 hp Material Buggies
- 20 to 25 hp Material Buggies
- By Sales Channel
- Material Buggies through Direct Sales
- Material Buggies through Distributor Sales
- By Region
- North America
- Latin America
- East Asia
- South Asia & Pacific.
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