The introduction of fuel efficient engines for heavy vehicles and launch of electric trucks and industrial vehicles are increasing the adoption rate of industrial vehicles in various end-use industries. With the advent of automation, automated industrial vehicles are being launched in the global market, which is fuelling the growth of the global Construction Vehicles Market during the forecast period.

Segmentation

The global Construction Vehicles Market has been segmented on the basis of product type, drive type and application. Based on product type, the Construction Vehicles Market has been segmented into forklift, tow tractor, aisle truck, container handler and others. The container handler segment is anticipated to expand significantly in the global industrial vehicle market during the forecast period due to the increase in global trade which has triggered the demand for technologically advanced industrial vehicles. Based on drive type, the Construction Vehicles Market has been segmented into industrial, cargo and others.

Regional Analysis

Geographically, the global Construction Vehicles Market has been segmented into four major regions such as Europe, Asia pacific, North America, and the rest of the world. Among these regions, the Asia Pacific region is anticipated to project dominance over the global Construction Vehicles Market. The rapid industrialization occurring in the emerging economies such as India and China are leading to the increased demand for industrial vehicles by various end use industries in this region. The Asia Pacific region is followed by North America, with respect to market size. Increasing utilization of industrial vehicles in order to improve the transportation of finished goods and raw materials is fuelling the growth of the Construction Vehicles Market in the North America region. The Europe region is projecting significant growth in the global Construction Vehicles Market owing to the high production and export rate of technologically advanced industrial vehicles in this region. COVID-19 Impact

Key Players

The prominent players that are profiled by MRFR in the report on the global Construction Vehicles Market are Anhui Heli Co., Ltd (China), Crown Equipment Corporation (the U.S.), Hangcha Group Co. Ltd. (China)

Industry Updates

In October 2018, Charlatte Manutention, one of the leading manufacturers of combustion-based and electric vehicles for airport and industrial applications, and NAVYA, a leading company in shared and smart mobility solutions and autonomous vehicles have announced the creation of a subsidiary that focuses on developing autonomous tractor solutions for transporting baggage in airports.

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