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Industrial Vehicle Market Trends and Forecast

The future of the global industrial vehicle market looks promising with opportunities in the industrial and cargo markets. The global industrial vehicle market is expected to grow with a CAGR of 4% to 6% from 2023 to 2028. The major drivers for this market are global economic change along with growing industrialization and increasing demand for autonomous solution for material handling across various applications.
Industrial Vehicle Market by Product, Drive Type, and Application
 
A more than 150-page report is developed to help in your business decisions.  Sample figures with some insights are shown below. To learn the scope, benefits, companies researched, and other details of the global industrial vehicle market report, please download the report brochure.
Industrial Vehicle Market by Segments
 
Industrial Vehicle Market by Segment
The study includes a forecast for the global industrial vehicle market by product type, drive type, application, and region, as follows:
Industrial Vehicle Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
  • Forklift
  • Tow Tractor
  • Aisle Truck
  • Container Handler
Industrial Vehicle Market by Drive Type [Value ($B) Shipment Analysis from 2017 to 2028]:
  • Internal Combustion Engine
  • Battery-Operated
  • Gas-Powered
Industrial Vehicle Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
  • Industrial
  • Cargo
Industrial Vehicle Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
 
  • 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 to 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. 
Industrial Vehicle Market Insights
  • Lucintel forecasts that aisle truck will remain the fastest growing segment over the forecast period as it ensures reliable operation along with enhanced efficiency, and low operational cost. 
  • Within this market, industrial is expected to remain the largest segment due to increased industrialization that results in increase in the demand of industrial vehicle for transporting finished goods as well as raw materials.
  • APAC will remain the largest region due to rapid industrialization and establishment of warehouses by various e-commerce companies like Amazon and e-Bay so as to support hubs for various industrial sectors.
Features of the Industrial Vehicle Market
  • Market Size Estimates: Industrial vehicle market size estimation in terms of value ($B)
  • Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
  • Segmentation Analysis: Industrial vehicle market size by various segments, such as by product type, drive type, application, and region in terms of value ($B)
  • Regional Analysis: Industrial vehicle market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis on growth opportunities in different by product type, drive type, application, and regions for the industrial vehicle market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for 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 $xx billion by 2028.
Q2. What is the growth forecast for industrial vehicle market?
Answer: The global industrial vehicle market is expected to grow with a CAGR of 4% to 6% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the industrial vehicle market?
Answer: The major drivers for this market are global economic change along with growing industrialization and increasing demand for autonomous solution for material handling across various applications.
Q4. What are the major segments for industrial vehicle market?
Answer: The future of the global industrial vehicle market looks promising with opportunities in the industrial and cargo markets.
Q5. Who are the key industrial vehicle companies?
Answer: Some of the key industrial vehicle companies are as follows:
Q6. Which industrial vehicle segment will be the largest in future?
Answer: Lucintel forecasts that aisle truck will remain the fastest growing segment over the forecast period as it ensures reliable operation along with enhanced efficiency, and low operational cost. 
Q7. In industrial vehicle market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region due to rapid industrialization and establishment of warehouses by various e-commerce companies like Amazon and e-Bay so as to support hubs for various industrial sectors.
Q8. 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 product type (forklift, tow tractor, aisle truck, and container handle), drive type (internal combustion engine, battery-operated, and gas-powered), application (industrial and cargo), 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 five years and what has its impact been on the industry?

For any questions related to industrial vehicle market or related industrial vehicle companies, industrial vehicle market size, industrial vehicle market share, industrial vehicle analysis, write Lucintel analyst at email: helpdesk@lucintel.com  we will be glad to get back to you soon.
Table of Contents
 
1. Executive Summary 
 
2. Global Industrial Vehicle Market: Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges 
 
3. Market Trends and Forecast Analysis from 2017 to 2028
3.1: Macroeconomic Trends (2017-2022) and Forecast (2023-2028)
3.2: Global Industrial Vehicle Market Trends (2017-2022) and Forecast (2023-2028)
3.3: Global Industrial Vehicle Market by Product Type
3.3.1: Forklift
3.3.2: Tow Tractor
3.3.3: Aisle Truck 
3.3.4: Container Handle 
3.4: Global Industrial Vehicle Market by Drive Type
3.4.1: Industrial Combustion Engine 
3.4.2: Battery-Operated 
3.4.3: Gas Powered 
3.5: Global Industrial Vehicle Market by Application 
3.5.1: Industrial 
3.5.2: Cargo 
 
4. Market Trends and Forecast Analysis by Region from 2017 to 2028
4.1: Global Industrial Vehicle Market by Region
4.2: North American Industrial Vehicle Market
4.2.1: North American Industrial Vehicle Market by Product Type: Forklift, Tow Tractor, Aisle Truck, and Container Handle
4.2.2: North American Industrial Vehicle Market by Application: Industrial and Cargo 
4.3: European Industrial Vehicle Market
4.3.1: European Industrial Vehicle Market by Product Type: Forklift, Tow Tractor, Aisle Truck, and Container Handle
4.3.2: European Industrial Vehicle Market by Application: Industrial and Cargo 
4.4: APAC Industrial Vehicle Market 
4.4.1: APAC Industrial Vehicle Market by Product Type: Forklift, Tow Tractor,       Aisle Truck, and Container Handle
4.4.2: APAC Industrial Vehicle Market by Application: Industrial and Cargo 
4.5: ROW Industrial Vehicle Market 
4.5.1: ROW Industrial Vehicle Market by Product Type: Forklift, Tow Tractor, Aisle Truck, and Container Handle
4.5.2: ROW Industrial Vehicle Market by Application: Industrial and Cargo 
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis 
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Industrial Vehicle Market by Product Type 
6.1.2: Growth Opportunities for the Global Industrial Vehicle Market by Drive Type
6.1.3: Growth Opportunities for the Global Industrial Vehicle Market by Application 
6.1.4: Growth Opportunities for the Global Industrial Vehicle Market by Region
6.2: Emerging Trends in the Global Industrial Vehicle Market 
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Industrial Vehicle Market 
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Industrial Vehicle Market 
 
7. Company Profiles of Leading Players
7.1: Anhui Heli 
7.2: Crown Equipment
7.3: Hangcha Group
7.4: Hyster-Yale Materials Handling 
7.5: Jungheinrich 
7.6: Kion Group 
7.7: Konecranes 
7.8: Mitsubishi Nichiyu Forklift 
7.9: Doosan Corporation
7.10: Toyota Industries
 
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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