Industrial Vehicles Market: By Product (Forklift, Tow Tractor, Aisle Truck, Container Handler), By Drive Type (Internal Combustion Engine, Battery-Operated, Gas-Powered), By Application (Industrial, Cargo) and Geography 

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Industrial Vehicles Market will be valued at USD 42.6 billion in 2022. It is expected to reach a value of USD 60.7 billion by 2029, growing at a significant CAGR of 5.2% from 2023-2029. The global market provides a detailed overview of the Industrial Vehicles Market, which has been segmented by product, drive type, and application. By product, the industrial vehicles market has been segmented into Forklifts, Tow Tractor, Aisle Trucks, and Container handlers. The aisle truck segment is likely the most significant and fastest-growing segment in terms of product. By drive type, the industrial vehicles market has been segmented into Internal Combustion Engine, Battery-Operated, and Gas-Powered. The battery-operated segment holds a significant revenue share in the market. Based on the application, Industrial Vehicles is segmented into Industrial, Cargo. According to precision business insights, the cargo segment is predicted to register the fastest growth rate during the forecast period.

Industrial Vehicles Market Key Development:

  • In February 2022, CLARK added the new TWLi20 three-wheel electric lithium-ion powered lift truck to the company’s product line of industrial lift trucks.

Industrial Vehicles Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

5.2%

Largest Market

North America

Fastest Growing Market

Europe
Industrial Vehicles Market Dynamics

The number of warehouses per country is rising due to the expanding demand for them to support hub and spoke models in various industries, including e-commerce, the production of automotive components, consumer goods, and electronics. Over the next coming years, the warehouse and fulfillment sector are anticipated to rise by double digits.

Key Features of the Reports

  • The industrial vehicles market report provides granular level information about the market size, regional market share and forecast from 2023-2029
  • The report covers in-detail insights about the competitor’s overview, key findings and their key strategies
  • The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
  • The report tracks recent innovations, key developments and startup’s details that are working in the industry
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario

Industrial Vehicles Market Segmentation

By Product
  • Forklift
  • Tow Tractor
  • Aisle Truck
  • Container Handler
By Drive Type
  • Internal Combustion Engine
  • Battery-Operated
  • Gas-Powered
By Application
  • Industrial
  • Cargo
By Geography
  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Frequently Asked Questions

The industrial vehicles market size was valued at USD 42.6 billion in 2022.

The industrial vehicles market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

The industrial vehicles market key players Anhui Heli Co Ltd, Crown Equipment Corporation, Hangcha Group Co Ltd, Hyster-Yale Materials Handling Inc, Jungheinrich AG, Kion Group AG, Konecranes, Mitsubishi Nichiyu Forklift Co Ltd, Toyota Industries Corpo, ZF Friedrichshafen AG

1.Executive Summary
2.Global Industrial Vehicles Market Introduction 
2.1.Global Industrial Vehicles Market  - Taxonomy
2.2.Global Industrial Vehicles Market  - Definitions
2.2.1.Product
2.2.2.Drive Type
2.2.3.Application
2.2.4.Region
3.Global Industrial Vehicles Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Industrial Vehicles Market Analysis, 2018 - 2022 and Forecast 2023 - 2029
4.1.  Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Industrial Vehicles Market  By Product, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
5.1. Forklift
5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Tow Tractor
5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Aisle Truck
5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Container Handler
5.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
6.Global Industrial Vehicles Market  By Drive Type, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
6.1. Internal Combustion Engine
6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Battery-Operated
6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Gas-Powered
6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
7.Global Industrial Vehicles Market  By Application, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
7.1. Industrial
7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Cargo
7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
8.Global Industrial Vehicles Market  By Region, 2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
8.1. North America
8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Europe
8.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
8.3. Asia Pacific (APAC)
8.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.3.3. Market Opportunity Analysis 
8.4. Middle East and Africa (MEA)
8.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.4.3. Market Opportunity Analysis 
8.5. Latin America
8.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029, (Sales Value USD Million)
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.5.3. Market Opportunity Analysis 
9.North America Industrial Vehicles Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
9.1. Product Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Forklift
9.1.2.Tow Tractor
9.1.3.Aisle Truck
9.1.4.Container Handler
9.2.  Drive Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Internal Combustion Engine
9.2.2.Battery-Operated
9.2.3.Gas-Powered
9.3.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Industrial
9.3.2.Cargo
9.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.4.1.United States of America (USA)
9.4.2.Canada
10.Europe Industrial Vehicles Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
10.1. Product Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Forklift
10.1.2.Tow Tractor
10.1.3.Aisle Truck
10.1.4.Container Handler
10.2.  Drive Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Internal Combustion Engine
10.2.2.Battery-Operated
10.2.3.Gas-Powered
10.3.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Industrial
10.3.2.Cargo
10.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Germany
10.4.2.France
10.4.3.Italy
10.4.4.United Kingdom (UK)
10.4.5.Spain
10.4.6.Rest of EU
11.Asia Pacific (APAC) Industrial Vehicles Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
11.1. Product Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Forklift
11.1.2.Tow Tractor
11.1.3.Aisle Truck
11.1.4.Container Handler
11.2.  Drive Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Internal Combustion Engine
11.2.2.Battery-Operated
11.2.3.Gas-Powered
11.3.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Industrial
11.3.2.Cargo
11.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.China
11.4.2.India
11.4.3.Australia and New Zealand (ANZ)
11.4.4.Japan
11.4.5.Rest of APAC
12.Middle East and Africa (MEA) Industrial Vehicles Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
12.1. Product Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Forklift
12.1.2.Tow Tractor
12.1.3.Aisle Truck
12.1.4.Container Handler
12.2.  Drive Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Internal Combustion Engine
12.2.2.Battery-Operated
12.2.3.Gas-Powered
12.3.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Industrial
12.3.2.Cargo
12.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.GCC Countries
12.4.2.South Africa
12.4.3.Rest of MEA
13.Latin America Industrial Vehicles Market ,2018 - 2022 and Forecast 2023 - 2029 (Sales Value USD Million)
13.1. Product Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Forklift
13.1.2.Tow Tractor
13.1.3.Aisle Truck
13.1.4.Container Handler
13.2.  Drive Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Internal Combustion Engine
13.2.2.Battery-Operated
13.2.3.Gas-Powered
13.3.  Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Industrial
13.3.2.Cargo
13.4.  Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Brazil
13.4.2.Mexico
13.4.3.Rest of LA
14. Competition Landscape
14.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
14.2.1.Anhui Heli Co Ltd
14.2.2.Crown Equipment Corporation
14.2.3.Hangcha Group Co Ltd
14.2.4.Hyster-Yale Materials Handling Inc
14.2.5.Jungheinrich AG
14.2.6.Kion Group AG
14.2.7.Konecranes
14.2.8.Mitsubishi Nichiyu Forklift Co Ltd
14.2.9.Toyota Industries Corpo
14.2.10.ZF Friedrichshafen AG
15. Research Methodology 
16. Appendix and Abbreviations 
  • Anhui Heli Co Ltd
  • Crown Equipment Corporation
  • Hangcha Group Co Ltd
  • Hyster-Yale Materials Handling Inc
  • Jungheinrich AG
  • Kion Group AG
  • Konecranes
  • Mitsubishi Nichiyu Forklift Co Ltd
  • Toyota Industries Corpo
  • ZF Friedrichshafen AG

Adjacent Markets