Industrial Vehicles Market Overview

Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Industrial Vehicles Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the Industrial Vehicles Market, with forecasts outspreading to the year 2030.

In-Depth Automotive Industrial Vehicles Market Report Scope and Research Methodology:

The primary objective of the report is to offer a thorough evaluation of the Industrial Vehicles market, with an emphasis on a strategy centered on the market. This includes grasping the dynamics of the Industrial Vehicles market, major trends, factors driving growth, obstacles, and possible opportunities. Data is collected through both primary and secondary research methods. Interaction with key market players in the Industrial Vehicles industry such as manufacturers, suppliers, vendors, consumers, and specialists via interviews and surveys is done to gather primary data. Secondary data is obtained from various sources such as industry reports, market analyses, company websites, annual reports, trade journals, government publications, and databases.

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Industrial Vehicles Market Growth Highlights:

Industrial Vehicles Market size was valued at US$ 47.02 Bn. in 2023 and the total revenue is expected to grow at 4.7 % of CAGR through 2024 to 2030, reaching nearly US$ 64.85 Bn.

Market Dynamics for Industrial Vehicles:

Online shopping and storage facilities

The growing requirement for warehouses to support hub and spoke models in a range of industries, including e-commerce, the manufacturing of automotive components, consumer goods, and electronics, is leading to an increase in the number of warehouses per region. The warehouse and fulfilment sector is predicted to experience double-digit growth over the next five years. E-commerce accounted for over 15% of all retail sales in the US in 2020, up from about 10% in 2019. Furthermore, the US Bureau of Labour Statistics reports that in 2020, there were 19,194 warehouses in the US, up from 15,255 in 2011.

Industrial Vehicles Market Segmentation

by Drive Type

ICE
Battery-Operated
Gas Operated


Battery-operated industrial vehicles held a compound annual growth rate (CAGR) in 2023. Rechargeable batteries are used to power industrial vehicles that run on batteries. Recently, battery-powered business automobiles have become very popular. One advantage of battery-powered engines is their eco-friendliness. Because these engines emit fewer pollution, these commercial trucks are an extremely inefficient instrument for duties related to warehouses and businesses. Most logistics service companies across the globe are focusing on lowering their carbon footprint. Battery-operated motors have been the focus of industrial automotive manufacturers in an effort to lower exhaust pollutants and CO2 emissions.

by Application

Manufacturing
Warehousing
Freight & Logistics
Others

by Aerial Work Platform

Boom Lifts
Scissor Lifts

by Level of Autonomy

Non/Semi-Autonomous
Autonomous

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Industrial Vehicles Market Regional Insights

The report focuses on domestic factors to assess the status of the Industrial Vehicles market in different countries across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Industrial Vehicles market is intricately segmented into these well-defined regions, providing a thorough understanding of the demand's makeup and the continuously changing factors in each geographical area.

Key Players in the Industrial Vehicles Market

1. Crown Equipment Corporation (US)
2. Hyster-Yale Materials Handling, Inc. (US)
3. Altec Industries (US)
4. CLARK MATERIAL HANDLING (US)
5. Lonking Forklift Co., Ltd. (China)
6. EP Equipment, Ltd. (China)
7. Hangcha Group Co. Ltd (China)
8. Noblelift Intelligent Equipment (China)
9. Anhui Heli Co., Ltd (China)
10. Liuzhou LiuGong Forklift Co.,Ltd (China)
11. Hubtex Maschinenbau GmbH & Co. KG (Germany)
12. Hubtex Maschinenbau GmbH & Co. KG (Germany)
13. Jungheinrich AG (Germany)
14. Kion Group AG (Germany)
15. Mitsubishi Nichiyu Forklift Co., Ltd. (Japan)
16. Toyota Industries Corporation (Japan)
17. Aichi Corporation (Japan)
18. MORITA HOLDINGS CORPORATION (Japan)
19. Komatsu Ltd. (Japan)
20. Doosan Corporation (South Korea)
21. Hyundai Heavy Industries (South Korea)
22. Action Construction Equipment Ltd. (India)
23. Godrej & Boyce Mfg. Co. Ltd. (India)
24. Cargotec Corporation (Finland)
25. Combilift (Ireland)
26. Goldbell Group (Singapore)
27. Motrec International Inc. (Canada)
28. Manitou (France)

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Key questions answered in the Industrial Vehicles Market are:

What is Industrial Vehicles?
What was the Industrial Vehicles Market size in 2023?
What is the growth rate of the Industrial Vehicles Market?
Which are the factors expected to drive the Industrial Vehicles Market growth?
What are the upcoming opportunities and trends for the Industrial Vehicles Market?
Who are the leading companies and what are their portfolios in Industrial Vehicles Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Industrial Vehicles Market?
Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2024−2030
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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