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

Industrial Truck Trends and Forecast

The future of the global industrial truck market looks promising with opportunities in the construction, logistics, and mining markets. The global industrial truck market is expected to grow with a CAGR of 4.8% from 2024 to 2030. The major drivers for this market are swift ascent of the e-commerce sector and growing demand for autonomous industrial trucks capable of efficiently handling materials and equipment.

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

Industrial Truck by Segment

The study includes a forecast for the global industrial truck by power, capacity, product, application, and region.

Industrial Truck Market by Power [Shipment Analysis by Value from 2018 to 2030]:

• Conventional
• Electric
• Manual

Industrial Truck Market by Capacity [Shipment Analysis by Value from 2018 to 2030]:

• Above 2.5 Tons
• Below 2.5 Tons

Industrial Truck Market by Product [Shipment Analysis by Value from 2018 to 2030]:

• Counterbalanced Lift Truck
• Hand Truck
• Pallet Jack
• Platform Truck
• Reach Truck
• Tow Tractor
• Turret Truck
• Walkie Stacker

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

• Construction
• Logistics
• Mining
• Others

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

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

List of Industrial Truck 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 truck companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the industrial truck companies profiled in this report include-

• Anhui Heli
• Mitsubishi Nichiyu Forklift
• Caterpillar
• Clark Material Handling Company
• Combilift
• Crown Equipment
• Doosan
• EP Equipment
• Kion Group
• Toyota

Industrial Truck Market Insights

Lucintel forecasts that electric is expected to witness largest growth over the forecast period due to their projected efficiency, reduced environmental impact, and advancements in electric vehicle technologies.

Within this market, construction will remain the largest segment due to increased demand for material handling in building projects, driving the market share in industrial trucks.

North America is expected to witness largest growth over the forecast period due to large market size, established industrial infrastructure, and increased demand for industrial trucks.

Features of the Global Industrial Truck Market

Market Size Estimates: Industrial truck 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 truck market size by various segments, such as by power, capacity, product, application, and region in terms of value ($B).

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

Growth Opportunities: Analysis of growth opportunities in different power, capacity, product, application, and regions for the industrial truck market.

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

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

FAQ

Q1. What is the growth forecast for industrial truck market?

Answer: The global industrial truck market is expected to grow with a CAGR of 4.8% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the industrial truck market?

Answer: The major drivers for this market are swift ascent of the e-commerce sector and growing demand for autonomous industrial trucks capable of efficiently handling materials and equipment.

Q3. What are the major segments for industrial truck market?

Answer: The future of the industrial truck market looks promising with opportunities in the construction, logistics, and mining markets.

Q4. Who are the key industrial truck market companies?

Answer: Some of the key industrial truck companies are as follows.

• Anhui Heli
• Cargotec
• Caterpillar
• Clark Material Handling Company
• Combilift
• Crown Equipment
• Doosan
• EP Equipment
• Flexi Narrow Aisle
• Godrej & Boyce

Q5. Which industrial truck market segment will be the largest in future?

Answer: Lucintel forecasts that electric is expected to witness largest growth over the forecast period due to their projected efficiency, reduced environmental impact, and advancements in electric vehicle technologies.

Q6. In industrial truck market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to witness largest growth over the forecast period due to large market size, established industrial infrastructure, and increased demand for industrial trucks.

Q7. 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 truck market by power (conventional, electric, and manual), capacity (above 2.5 tons and below 2.5 tons), product (counterbalanced lift truck, hand truck, pallet jack, platform truck, reach truck, tow tractor, turret truck, and walkie stacker), application (construction, logistics, mining, 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?