Industrial Vehicle Market Report: Trends, Forecast and Competitive Analysis to 2030

Industrial Vehicle Trends and Forecast

The future of the global industrial vehicle market looks promising with opportunities in the manufacturing, warehousing, and freight & logistic markets. The global industrial vehicle market is expected to reach an estimated $62.5 billion by 2030 with a CAGR of 5.8% from 2024 to 2030. The major drivers for this market are growing demand for automation in industrial processes and rising preference for battery-operated industrial vehicles.

A more than 150-page report is developed to help in your business decisions.

Industrial Vehicle by Segment

The study includes a forecast for the global industrial vehicle by drive type, vehicle type, application, and region.

Industrial Vehicle Market by Drive Type [Shipment Analysis by Value from 2018 to 2030]:

• ICE
• Battery-Operated
• Gas-Powered

Industrial Vehicle Market by Vehicle Type [Shipment Analysis by Value from 2018 to 2030]:

• Forklifts
• Aisle Trucks
• Tow Tractors
• Container Handlers

Industrial Vehicle Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Manufacturing
• Warehousing
• Freight & Logistics
• Others

Industrial Vehicle Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Industrial Vehicle Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies industrial vehicle companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the industrial vehicle companies profiled in this report include-

• Toyota Industries
• KION
• Mitsubishi Logisnext
• Jungheinrich
• Komatsu

Industrial Vehicle Market Insights

Lucintel forecasts that battery-operated is expected to witness the highest growth over the forecast period.

Within this market, manufacturing is expected to witness the highest growth over the forecast period.

APAC is expected to witness highest growth over the forecast period.

Features of the Global Industrial Vehicle Market

Market Size Estimates: Industrial vehicle market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Industrial vehicle market size by drive type, vehicle type, application, and region in terms of value ($B).

Regional Analysis: Industrial vehicle market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different drive types, vehicle types, applications, and regions for the industrial vehicle market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the industrial vehicle market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the industrial vehicle market size?

Answer: The global industrial vehicle market is expected to reach an estimated $62.5 billion by 2030.

Q2. What is the growth forecast for industrial vehicle market?

Answer: The global industrial vehicle market is expected to grow with a CAGR of 5.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the industrial vehicle market?

Answer: The major drivers for this market are growing demand for automation in industrial processes and rising preference for battery-operated industrial vehicles.

Q4. What are the major segments for industrial vehicle market?

Answer: The future of the industrial vehicle market looks promising with opportunities in the manufacturing, warehousing, and freight & logistic markets.

Q5. Who are the key industrial vehicle market companies?

Answer: Some of the key industrial vehicle companies are as follows:

• Toyota Industries
• KION
• Mitsubishi Logisnext
• Jungheinrich
• Komatsu

Q6. Which industrial vehicle market segment will be the largest in future?

Answer: Lucintel forecasts that battery-operated is expected to witness the highest growth over the forecast period.

Q7. In industrial vehicle market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the industrial vehicle market by drive type (ICE, battery-operated, and gas-powered), vehicle type (forklifts, aisle trucks, tow tractors, and container handlers), application (manufacturing, warehousing, freight & logistics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?