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Midland Pallet Trucks braced for industry growth of 4% By 2019

Midland Pallet Trucks, one of the UK’s premier suppliers of pallet trucks and other lifting solutions, is preparing for rapid growth over the coming years, after a market study by Technavio predicted that the global industrial trucks market is set to increase to 1.33m units in volume by 2019.

The new report, titled ‘Global Industrial Trucks Market 2015-2019’, shows that the demand for warehouse trucks is set to grow at a rate of 3% during the forecast period, with demand also growing for electric trucks. All in all, the compound annual growth rate (CAGR) was predicted at 4.30% in terms of volume.

The report also looked into the challenges and changes that market will face over the coming years. Market challenges including a shortage of skilled truck drivers, which will need to be rectified by businesses that rely heavily on forklifts, which require specialist qualifications to operate. Trends were also covered in the report, with the adoption of more eco-friendly vehicles predicted as top priority, as businesses seek to cut their emissions across the board.

Phil Chesworth, Managing Director of Midland Pallet Trucks, which boasts a 60,000 square foot warehouse in the Midlands, says, “The report by Technavio shows that the industrial lift industry is booming, and will continue to do so until 2019 at the very least. The industry won’t be without its challenges – the rapid growth of the retail sector in emerging economies will put pressure on the industry, and as the world moves towards more eco-friendly equipment, we’ll need to conform and follow the trend. But by and large, the report looks very positive for our industry, and we’ll certainly be striving to meet this increased demand over the next three years, here at Midland Pallet Trucks.

Midland Pallet Trucks has been a leading provider of materials handling equipment for the past two decades, with a glowing reputation for quality. During that team, Phil and the rest of the team have provided lifting equipment for businesses in all sectors, with varying budgets, whether they were seeking a simple line of hand pallet trucks at a low price, or a sophisticated selection of stackers, high-lift trucks and other specialist equipment.

The company stocks a huge array of lifting equipment designed to meet any business’ requirements. Users are invited to browse extensive collections of pallet trucks, electric trucks, manual stackers, drum loaders, lift platforms and a myriad of assorted accessories, all of which contribute to more efficient warehouses, distribution centres and factories.

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