Industrial Vehicles Market Insights, Size and Growth Forecast To 2030

Industrial Vehicles Market- By Application, By Vehicle Type, By Drive Type, By Aerial Work Platform, By Level of Autonomy- Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Published: Oct 2022 Base Year: 2021 Report ID: AMIN2201
Available Format: Historical Data: 2019 - 2020 Number of Pages: 1 - 338
Category : Automotive Industry

According to SPER Market Research, the Global Industrial Vehicles Market is estimated to reach USD 60.73 billion by 2030 with a CAGR of 4.2%.

The market would see new growth prospects as the need for battery-powered industrial vehicles rises and smart factories enter the material handling sector. Companies in the industrial vehicle sector are concentrating on the development of innovative products, particularly electric industrial vehicles.

Innovation and R&D are essential for industrial vehicles. OEMs must make significant R&D investments to improve industrial vehicles' capacity to lift high loads and to increase productivity to shorten turnaround times. To avoid forklifts or other industrial vehicles turning over, sliding sideways, or losing their load, is crucial. Industrial vehicles also need a lot of maintenance to run safely.

Due to their improved performance levels and great productivity, battery-operated industrial vehicles have seen a surge in demand in recent years. Additionally, compared to ICE industrial vehicles, electric industrial vehicles offer superior pollution management and are more cost-effective. Due to its compliance with Tier 4 emission standards and lack of in-plant emissions, electric lift trucks are typically preferred by end users. The performance difference between ICE and electric trucks is also getting smaller. Players are producing eco-friendlier industrial vehicles by manufacturing them in eco-friendly factories, driven by demands for emission and energy efficiency.

Rechargeable batteries are used to power individual cars in battery-operated industrial vehicles. Industrial vehicles powered by batteries have become increasingly popular in recent years. The advantage of battery-operated engines is being environmentally benign. Industrial vehicles with these engines are the best green machines for warehouse and industrial projects since they produce fewer pollutants. The majority of logistics companies worldwide are concentrating on lowering their carbon footprint. Industrial vehicle producers have been concentrating on battery-operated vehicles as a way to minimize CO2 emissions as well as other exhaust pollutants. Industrial vehicles that run on batteries offer benefits when it comes to energy efficiency. As compared to propane fuel, these cars cost around 75% less to operate.



Impact of COVID-19 on the Global Industrial Vehicles Market:
The energy, automobile, and aviation sectors are anticipated to see the greatest COVID-19 adverse effects on FDI investments. The supply of raw materials is an issue for the producers of cars, chemicals, electronics, and airplanes as a result of the COVID-19 outbreaks occurring all over the world. The COVID-19 epidemic, which in turn has disrupted the supply of components, has caused consumer electronics and smartphone manufacturers to start reducing manufacturing activities and delaying the launch of new goods.

Scope of the report:
 Report Metric Details
 Market size available for years 2019-2030
 Base year considered 2021
 Forecast period 2022-2030
 Segments coveredBy Application, By Vehicle Type, By Drive Type, By Aerial Work Platform, By Level of Autonomy
 Geographies covered North America, Europe, Asia Pacific, Latin America, Middle East & Africa
 Companies CoveredAction Construction Equipment Ltd.,Anhui Heli Co. Ltd., Cargotec Corporation, Clark, Crown Equipment Corporation, Doosan Industrial Vehicle, Daifuku, Genkinger GMBH, Hyster-Yale Materials Handling Inc., Hyundai Construction Equipment India Pvt. Ltd., Jungheinrich AG, Kion Group AG, Komastu, Lonking Machinery Co. Ltd., Linmar Corporation, Mitsubishi Logisnext Co. Ltd., OMG SRL, Paletrans Forklifts, Snorkel, Sinoboom Intelligent Equipment Co. Ltd., Stocklin Logistik AG, Terex Corporation, Toyota Industries Corporation, Tadano Ltd., V. Mariotti SRL.

Global Industrial Vehicles Market, By Application:
Based on the Application, Global Industrial Vehicles Market is segmented as; Manufacturing, Warehousing, Freight & Logistics, Others.

Global Industrial Vehicles Market, By Vehicle Type:
Based on the Vehicles Type, Global Industrial Vehicles Market is segmented as; Forklifts (<5 Ton, 5-10 Ton, 11-36 Ton, >36 Ton), Aisle Truck (<1 Ton, 1-2 Ton, >2 Ton), Tow Tractors (<5 Ton, 5-10 Ton, 11-30 Ton, >30 Ton), Container Handlers (<30 Ton, 30-40 Ton, >40 Ton)

Global Industrial Vehicles Market, By Drive Type:
Based on the Drive Type, Global Industrial Vehicles Market is segmented as; ICE, Battery operated, Gas-powered

Global Industrial Vehicles Market, By Aerial Work Platform:
Based on the Aerial Work Platform, Global Industrial Vehicles Market is segmented as;
Boom Lifts, Scissor Lifts.

Global Industrial Vehicles Market, By Level of Autonomy:
Based on the Level of Autonomy, Global Industrial Vehicles Market is segmented as;
Non/Semi-Autonomous, Autonomous.

Global Industrial Vehicles Market, By Region:
The Global Industrial Vehicles Market is majorly driven by Asia-Pacific. During the projected period, Asia-Pacific is anticipated to have the quickest rate of growth in the worldwide Global Industrial Vehicles Market.

1. Introduction
1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation

3. Executive Summary

4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges 
4.2. COVID-19 Impacts of the Global Industrial Vehicles Market

5. Market variables and outlook
5.1. SWOT analysis 
5.1.1 Strengths 
5.1.2 Weaknesses 
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis 
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape 
5.2.4 Technological landscape 
5.2.5 Environmental landscape 
5.2.6 Legal landscape 
5.3. PORTER’S five forces analysis 
5.3.1 Bargaining power of suppliers 
5.3.2 Bargaining power of Buyers 
5.3.3 Threat of Substitute 
5.3.4 Threat of new entrant 
5.3.5 Competitive rivalry
5.4. Heat map analysis

6. Global Industrial Vehicles Market, By Type of Application, 2019-2030 (USD Million)
6.1. Manufacturing
6.2. Warehousing
6.3. Freight & Logistics
6.4. Others

7. Global Industrial Vehicles Market, By Vehicle Type, 2019-2030 (USD Million)
7.1. Forklifts
7.1.1. <5 Ton
7.1.2. 5-10 Ton
7.1.3. 11-36 Ton
7.1.4. >36 Ton
7.2. Aisle Truck
7.2.1. <1 Ton
7.2.2. 1-2 Ton
7.2.3. >2 Ton
7.3. Tow Tractors
7.3.1. <5 Ton
7.3.2. 5-10 Ton
7.3.3. 11-30 Ton
7.3.4. >30 Ton
7.4. Container Handlers
7.4.1. <30 Ton
7.4.2. 30-40 Ton
7.4.3. >40 Ton

8. Global Industrial Vehicles Market, By Drive Type, 2019-2030 (USD Million)
8.1. ICE
8.2. Battery-operated
8.3. Gas-powered

9. Global Industrial Vehicles Market, By Aerial Work Platform, 2019-2030 (USD Million)
9.1. Boom Lifts
9.2. Scissor Lifts

10. Global Industrial Vehicles Market, By Level of Autonomy, 2019-2030 (USD Million)
10.1. Non/Semi-Autonomous
10.2. Autonomous
 
11. Global Industrial Vehicles Market, By Region, 2019-2030 (USD Million)
11.1. North America
11.1.1. United States
11.1.2. Canada
11.1.3. Mexico
11.2. Europe
11.2.1. Germany
11.2.2. United Kingdom
11.2.3. France
11.2.4. Italy
11.2.5. Spain
11.2.6. Rest of Europe
11.3. Asia-Pacific
11.3.1. China
11.3.2. Japan
11.3.3. India
11.3.4. Australia
11.3.5. South Korea
11.3.6. Rest of Asia-Pacific
11.4. South America
11.4.1. Brazil
11.4.2. Argentina
11.4.3. Rest of South America
11.5. Middle East & Africa
11.5.1. Kingdom of Saudi Arabia 
11.5.2. United Arab Emirates
11.5.3. Rest of Middle East & Africa

12. Company Profiles
12.1. Action Construction Equipment Ltd.
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary 
12.1.4. Recent developments
12.2. Anhui Heli Co. Ltd.
12.2.1. Company details 
12.2.2. Financial outlook
12.2.3. Product summary 
12.2.4. Recent developments
12.3. Cargotec Corporation
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Clark.
12.4.1. Company details 
12.4.2. Financial outlook
12.4.3. Product summary 
12.4.4. Recent developments
12.5. Crown Equipment Corporation
12.5.1. Company details 
12.5.2. Financial outlook
12.5.3. Product summary 
12.5.4. Recent developments
12.6. Doosan Industrial Vehicle
12.6.1. Company details 
12.6.2. Financial outlook
12.6.3. Product summary 
12.6.4. Recent developments
12.7. Daifuku
12.7.1. Company details 
12.7.2. Financial outlook
12.7.3. Product summary 
12.7.4. Recent developments
12.8. Genkinger GMBH
12.8.1. Company details 
12.8.2. Financial outlook
12.8.3. Product summary 
12.8.4. Recent developments
12.9. Hyster-Yale Materials Handling Inc.
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Hyundai Construction Equipment India Pvt. Ltd.
12.10.1. Company details 
12.10.2. Financial outlook
12.10.3. Product summary 
12.10.4. Recent developments
12.11. Jungheinrich AG
12.11.1. Company details 
12.11.2. Financial outlook
12.11.3. Product summary 
12.11.4. Recent developments
12.12. Kion Group AG
12.12.1. Company details 
12.12.2. Financial outlook
12.12.3. Product summary
12.12.4. Recent developments
12.13. Komastu
12.13.1. Company details 
12.13.2. Financial outlook
12.13.3. Product summary 
12.13.4. Recent developments
12.14. Lonking Machinery Co. Ltd.
12.14.1. Company details 
12.14.2. Financial outlook
12.14.3. Product summary 
12.14.4. Recent developments
12.15. Linmar Corporation
12.15.1. Company details 
12.15.2. Financial outlook
12.15.3. Product summary 
12.15.4. Recent development
12.16. Mitsubishi Logisnext Co. Ltd.
12.16.1. Company details 
12.16.2. Financial outlook
12.16.3. Product summary 
12.16.4. Recent developments
12.17. OMG SRL
12.17.1. Company details 
12.17.2. Financial outlook
12.17.3. Product summary 
12.17.4. Recent developments
12.18. Paletrans Forklifts
12.18.1. Company details 
12.18.2. Financial outlook
12.18.3. Product summary 
12.18.4. Recent developments
12.19. Snorkel
12.19.1. Company details 
12.19.2. Financial outlook
12.19.3. Product summary 
12.19.4. Recent developments
12.20. Sinoboom Intelligent Equipment Co. Ltd.
12.20.1. Company details 
12.20.2. Financial outlook
12.20.3. Product summary 
12.20.4. Recent development
12.21. Stocklin Logistik AG
12.21.1. Company details 
12.21.2. Financial outlook
12.21.3. Product summary 
12.21.4. Recent developments
12.22. Terex Corporation
12.22.1. Company details 
12.22.2. Financial outlook
12.22.3. Product summary 
12.22.4. Recent developments
12.23. Toyota Industries Corporation
12.23.1. Company details 
12.23.2. Financial outlook
12.23.3. Product summary
12.23.4. Recent developments
12.24. Tadano Ltd.
12.24.1. Company details 
12.24.2. Financial outlook
12.24.3. Product summary
12.24.4. Recent developments
12.25. V. Mariotti SRL
12.25.1. Company details 
12.25.2. Financial outlook
12.25.3. Product summary
12.25.4. Recent developments

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Global Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings.  The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

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