Pune, India, Nov. 08, 2022 (GLOBE NEWSWIRE) -- The global Shopping Trolley Market size is expected to experience considerable growth during the forecast period due to the rapidly growing hypermarkets. This information is published by Fortune Business Insights in its report, titled "Shopping Trolley Market, 2022-2029". These trolleys are mainly made of metal wire and plastic used to carry goods in various stores. The rapid urbanization of different regions and the engaging experience of shopping are anticipated to propel the market. Moreover, technological advancement in trolley manufacturing is expected to garner substantial interest from the retail industry.
List of Key Players Profiled in the Market:
- Wanzl GmbH & Co. KGaA
- Donracks Supermarket Rack Manufacturers
- Unarco Industries LLC
- NATIONAL CART
- Changshu Shajiabang Commercial Equipment Factory
- Suzhou Hongyuan Business Equipment Manufacturing Co. Ltd
- Kailiou Commercial Equipment Co., Ltd
- Shanghai Rongxin Hardware Factory
- CANADA'S BEST STORE FIXTURES
- Foter, Versacart Systems, Inc.
- Americana Companies.
- Shanghai Kami Trolleys Mfg. Co., Ltd.
- Sambo Corp.
- R.W. ROGERS COMPANY
- Van Keulen Interieurbouw
- Shanghai Rongxin Hardware Factory
- Changshu Yirunda business equipment factory
- Cefla s.c.
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COVID-19 Impact
Production Halt Owing to Lockdown to Adversely Affect Market Growth
The COVID-19 outbreak had an adverse effect on the market for the shopping trolleys. The global lockdown resulted in the halting of the manufacturing process in several industries. Moreover, the travel ban and reduced sales due to unemployment also impacted the industry heavily as many superstores and hypermarkets closed down indefinitely during the lockdown. For example, North America has recorded a permanent business lockdown in around 2.8% of manufacturers. The unsettling consequences of the coronavirus infection are expected to decline in the near future. The market leaders are therefore investing in technological advances for the market.
Market Segmentation
On the basis of product type, the market is segmented into roller baskets, basket carts, tote boxes, and child carts. By material, the market for shopping trolley is trifurcated into aluminum, stainless steel, and plastic hybrid. By application, the market is divided into retail stores, supermarkets, and hypermarkets. Based on geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The report offers an insight into the profitability, entire structure, and scale. It also studies the drivers and restraints and considers all the potential threats to the market. The critical analysis of marketplace sections, prediction analysis, and expert insights are strategically included in the report. A wide spectrum of data, including regional analysis, market segmentation, industry developments, and key players, are included in the research conducted by market experts.
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Driving Factor
Rapid Expansion of Retail Stores to Aid Market Growth
The rising disposable income across the globe is facilitating the consumption of premium products. Moreover, the ease of accessibility of multiple products at one place is garnering a huge consumption of store facilities such as retail stores, hypermarkets, and supermarkets. These factors act as a major driver for shopping trolley market growth.
In addition to this, the digital technology incorporated in manufacturing and the product is gaining a substantial consumer base. For instance, Wanzl GmbH & Co. KGaA manufactures shopping carts with inbuilt anti-theft storage for mobile phones and small accessories.
Regional Insights
Presence of Retail Giants to Facilitate Product Demand in North America
North America is expected to lead the shopping trolley market share in the forecast period. This is due to the growing culture of personalized shopping experience in the supermarket and hypermarket. Moreover, the presence of giant retail store chains such as Walmart, Costco, and Kroger are complementing the growth of the product.
Europe is anticipated to experience substantial market growth in the forthcoming years. This is due to the presence of prominent manufacturers in the region. Moreover, the ‘EN 1929 Standard' manufacturing standard in the region produces top-quality trolleys that experience high demand in the market.
Competitive Landscape
Prominent Companies Perpetuate Production Standards to Improve Market Position
The presence of several major companies occupies the market for shopping trolleys. Moreover, stringent regulatory scenarios regarding manufacturing in most leading economies intensify the market competition with constant updates and quality checks required to maintain standards. The growing investment in this market is expected to boost this industry and give lucrative returns exponentially. Prominent players are focused on technological innovation by investing in research and development.
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Industry Development:
- March 2020: NATIONAL CART expanded its production in the Eastern part of the US recently. This is anticipated to target the local consumers for shopping trolleys and generate substantial revenue for the company.
Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Shopping Trolley Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
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