- Forklift
- Tow Tractor
- Aisle Truck
- Container Handler
Industrial Vehicles Market will be valued at USD 42.6 billion in 2021. It is expected to reach a value of USD 60.7 billion by 2029, growing at a CAGR of 5.2% during the forecast period from 2023 to 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.
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
2023-29
Base Year
2022
CAGR
5.2%
Largest Market
North America
Fastest Growing Market
N/A
 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.
Asia-Pacific Got Significant Share
 Industrial Vehicles Market
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- _x000D_
- The report provides granular level information about the market size, regional market share and forecast from 2023-2029 _x000D_
- The report covers in-detail insights about the competitor’s overview, key findings and their key strategies _x000D_
- The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry _x000D_
- The report tracks recent innovations, key developments and startup’s details that are working in the industry _x000D_
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario _x000D_
Industrial Vehicles Market Segmentation
By Product
By Drive Type
- Internal Combustion Engine
- Battery-Operated
- Gas-Powered
By Application
- Industrial
- Cargo
Frequently Asked Questions
The industrial vehicles market is projected to expand at a CAGR of 5.2% during the forecast period.
The major players in the global industrial vehicles market are Toyota Industries Corporation (Japan), KION Group AG (Germany), Mitsubishi Logisnext Co., Ltd. (Japan), Jungheinrich AG (Germany), and Crown Equipment Corporation (US).
??The Asia Pacific market is expected to witness the largest market share during the forecast period
| 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. Global Industrial Vehicles Market Dynamic Factors - Impact Analysis |
| 3.6. Impact of COVID 19 on The Market |
| 3.7. Three Forecast Scenarios - Pessimistic, Conservative and Opportunistic |
| 3.8. Mapping Market Players Activities |
| 3.9. Recent Key Developments |
| 3.10. Financial Status of the Market Players |
| 3.11. Recent Acquisitions, Collaborations and Mergers |
| 4. Global Industrial Vehicles Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 |
| 4.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Million) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Industrial Vehicles Market Forecast, By Product, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Million) |
| 5.1. Forklift |
| 5.1.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, 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, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, 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, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, 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, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, 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 Forecast, By Drive, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Million) |
| 6.1. Internal Combustion Engine |
| 6.1.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, 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, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, 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, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Million) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7. Market Opportunity Analysis Global Industrial Vehicles Market Forecast, By Application, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Million) |
| 7.1. Industrial |
| 7.1.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, 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, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, 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 Forecast, By Region, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, 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, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, 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 |
| 8.3.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, 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. Latin America |
| 8.4.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, 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. Middle East and Africa |
| 8.5.1. Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Million) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Global Industrial Vehicles Market - Opportunity Analysis Index, By Product, Application, End User, and Region, 2022 - 2028 |
| 9. North America Industrial Vehicles Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Million) |
| 9.1. Product Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (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 2017 - 2021 and Forecast 2022 - 2028 by Revenue (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 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Industrial |
| 9.3.2. Cargo |
| 9.4. Country Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 9.4.1. U.S. |
| 9.4.2. Canada |
| 9.5. North America Industrial Vehicles Market - Opportunity Analysis Index, By Product, Application, End User, and Country, 2022 - 2028 |
| 9.6. North America Industrial Vehicles Market Dynamics – Trends |
| 10. Europe Industrial Vehicles Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Million) |
| 10.1. Product Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (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 2017 - 2021 and Forecast 2022 - 2028 by Revenue (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 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Industrial |
| 10.3.2. Cargo |
| 10.4. Country Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Germany |
| 10.4.2. UK |
| 10.4.3. France |
| 10.4.4. Italy |
| 10.4.5. Spain |
| 10.4.6. Rest of Europe |
| 10.5. Europe Industrial Vehicles Market - Opportunity Analysis Index, By Product, Application, End User, and Country, 2022 - 2028 |
| 10.6. Europe Industrial Vehicles Market Dynamics – Trends |
| 11. Asia-Pacific Industrial Vehicles Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Million) |
| 11.1. Product Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (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 2017 - 2021 and Forecast 2022 - 2028 by Revenue (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 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Industrial |
| 11.3.2. Cargo |
| 11.4. Country Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. Japan |
| 11.4.2. China |
| 11.4.3. India |
| 11.4.4. ASEAN |
| 11.4.5. Rest of Asia-Pacific |
| 11.5. Asia-Pacific Industrial Vehicles Market - Opportunity Analysis Index, By Product, Application, End User, and Country, 2022 - 2028 |
| 11.6. Asia-Pacific Industrial Vehicles Market Dynamics – Trends |
| 12. Latin America Industrial Vehicles Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Million) |
| 12.1. Product Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (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 2017 - 2021 and Forecast 2022 - 2028 by Revenue (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 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Industrial |
| 12.3.2. Cargo |
| 12.4. Country Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Brazil |
| 12.4.2. Argentina |
| 12.4.3. Rest of Latin America |
| 12.5. Latin America Industrial Vehicles Market - Opportunity Analysis Index, By Product, Application, End User, and Country, 2022 - 2028 |
| 12.6. Latin America Industrial Vehicles Market Dynamics – Trends |
| 13. Middle East and Africa Industrial Vehicles Market Analysis, 2017 - 2021 and Forecast, 2022 - 2028 (Revenue, USD Million) |
| 13.1. Product Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (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 2017 - 2021 and Forecast 2022 - 2028 by Revenue (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 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Million), Y-o-Y Growth (%) and Market Share (%) |
| 13.3.1. Industrial |
| 13.3.2. Cargo |
| 13.4. Country Analysis 2017 - 2021 and Forecast 2022 - 2028 by Revenue (USD Million) Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Saudi Arabia |
| 13.4.2. GCC Countries |
| 13.4.3. South Africa |
| 13.4.4. Rest of MEA |
| 13.5. MEA Industrial Vehicles Market - Opportunity Analysis Index, By Product, Application, End User, and Country, 2022 - 2028 |
| 13.6. MEA Industrial Vehicles Market Dynamics – Trends |
| 14. Competition Landscape |
| 14.1. Strategic Dashboard of Top Market Players |
| 14.2. Company Profiles (Introduction, Financial Analysis, Product Offerings, Key Developments, 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 |
| 14.2.11. Others |
| 15. Research Methodology |
| 16. Key Assumptions and Acronyms |
- 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