Industrial Truck Market is expected to grow at a CAGR of 3.02% throughout the forecast period, to reach US$ 38.90 Bn. by 2029.Industrial Truck Market Overview
Industrial trucks are equipped with hydraulic systems that allow them to move bigger and heavier machinery and equipment from one place to another in several industries. Industrial truck can operate with ease in limited space were conveyors and cranes cannot be used for handling large machineries, which is expected to boost industrial truck market during the forecast period. Innovations like “connected truck” in the field of research and information technology expect to gain more attention in future. This in turn is expected to accelerate the growth of the industrial truck market across the world.To Know About The Research Methodology :- Request Free Sample Report This report provides the detailed information according to region and contribution of all segments to the growth of the industrial truck market.
Industrial Truck Market Dynamics
Rapid digitalization in e-commerce sector and supply chain sector is expected to drive the growth of Industrial truck market. These sectors mainly invest in logistic and warehouses, which in return is expanding the industrial truck market across the globe due to easy transport and efficiency. Industries nowadays are facing problems in increasing high yield and production, accuracy, labor scarcity. This in turn is expected to accelerate the growth of the industrial truck market across the world. Apart from that manufacturing industry, mining industry, railway and shipping industry demands for industrial truck due to its fast and easy way of equipment handling, which leads to the growth of industrial truck market in near future. Report also states restraint to the growth of market, which is mainly due to the high cost of industrial truck and less awareness among the people from the developing countries.Industrial Truck Market Segment Analysis
Industrial Truck Market, by Propulsion System: In urban areas, Industrial truck has limited access as they are diesel operated and led to CO2 emissions. Thus, there is need to use alternative drive system, such as LNG or CNG operated engines and electrical engines that bring higher torque, high horse power and emit lesser emissions in order to control air pollution. Therefore, in order to sustain the environment, global leaders have implemented EURO 6, EPA 10, JP09, and BS-VI India, in order to reduce air pollution. Governments of developing countries are providing incentives with programs and schemes for manufacturing of battery electric trucks, which in turn are expected to boost the growth of the electric truck market. Market, by End-Use Industry: Increase in technology advancement in construction and manufacturing industry has led these industries to use excavators, tower cranes, loaders, and industrial trucks, as industrial trucks are fast in operation than cranes and conveyors. People and migrant workers are constantly travelling for better livelihood have increased the need of transportation, accommodation and demand for passenger vehicles, which are expected to drive the industrial truck market during the forecast period. Industrial Truck Market, by Type of Movement: Forklift trucks are equipped with fork-like systems at the front-end that allow these trucks to carry and elevate load to a desired height or transport it to the desired location. They are mostly used in manufacturing and warehouse industries due to its easy operation and less time requirement. Region wise, Asia Pacific held the maximum share in 2020 due to demand for forklift trucks from developing countries like china, India and Japan. It is also expected to contribute highest CAGR of xx% during the forecast period. Europe on the other hand shares the second highest market of forklift trucks, followed by North America.Industrial Truck Market Regional Insights
Asia pacific held the largest share in 2022 of market and is expected to contribute 56% of growth from industrial truck during the forecast period. Also, due to advancement in technology and industrialization of developing countries like India and china have influenced the market to grow in the near future. Increase in demand for transport, accommodation, and use of heavy machineries from construction and manufacturing industries led to the growth of industrial truck market in near future. Europe on the other hand is expected to account more than 35% of the global share in the market. Rising urbanization, improving infrastructure and professional logistic sector is expected to create growth of market in Africa region.Industrial Truck Market Scope: Inquire before buying
Global Industrial Truck Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US $ 31.58 Bn. Forecast Period 2023 to 2029 CAGR: 3.02% Market Size in 2029: US $ 38.90 Bn. Segments Covered: by Propulsion System Gasoline Diesel Electric by End-use Industry Construction Industry Manufacturing Industry Transport and Shipping Industry Aviation Industry by Type of Movement Forklift Truck Lifting Truck Pallet Industrial Truck Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)Industrial Truck Market, Key Players are
1. Combilift Material Handling Solutions 2.Doosan Corporation 3. Crown Equipment Corporation 4. Godrej & Boyce Mfg. Co. Ltd. 5. Caterpillar 6. Kion Group AG 7. SANY Group 8. Toyota Industries Corporation 9. Mitsubishi Nichiyu Forklift Co. Ltd. 10. Clark Material Handling Co. Ltd. 11. Hangcha Group Co. Ltd. 12. Anhui Heli Co. Ltd. 13. Hyster-Yale Materials Handling Inc. 14. Jungheinrich AG 15. Lonking Forklift Company Ltd. 16. Komatsu Ltd. 17. EP Equipment Ltd. 18. Mitsubishi Logisnext Co., Ltd. Frequently Asked Questions: 1. Which region has the largest share in Global Market? Ans: Asia Pacific region holds the highest share in 2022. 2. What is the growth rate of Global Market? Ans: The Global Market is growing at a CAGR of 3.02% during forecasting period 2023-2029. 3. What segments are covered in Global market? Ans: Global Market is segmented into Propulsion system, End-use Industry, Type of movement and Region. 4. Who are the key players in Global market? Ans: The important key players in the Global Market are Combilift Material Handling Solutions,Doosan Corporation,Crown Equipment Corporation,Godrej & Boyce Mfg. Co. Ltd.,Caterpillar,Kion Group AG,SANY Group,Toyota Industries Corporation,Mitsubishi Nichiyu Forklift Co. Ltd. 5. What is the study period of this market? Ans: The Global Market is studied from 2022 to 2029.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Industrial Truck Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2021 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Industrial Truck Market 3.4. Geographical Snapshot of the Industrial Truck Market, By Manufacturer share 4. Global Industrial Truck Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Industrial Truck Market 5. Supply Side and Demand Side Indicators 6. Global Industrial Truck Market Analysis and Forecast, 2022-2029 6.1. Global Industrial Truck Market Size & Y-o-Y Growth Analysis. 7. Global Industrial Truck Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 7.1.1. Gasoline 7.1.2. Diesel 7.1.3. Electric 7.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 7.2.1. Construction Industry 7.2.2. Manufacturing Industry 7.2.3. Transport and Shipping Industry 7.2.4. Aviation Industry 7.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 7.3.1. Forklift Truck 7.3.2. Lifting Truck 7.3.3. Pallet 8. Global Industrial Truck Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Industrial Truck Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 9.1.1. Gasoline 9.1.2. Diesel 9.1.3. Electric 9.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 9.2.1. Construction Industry 9.2.2. Manufacturing Industry 9.2.3. Transport and Shipping Industry 9.2.4. Aviation Industry 9.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 9.3.1. Forklift Truck 9.3.2. Lifting Truck 9.3.3. Pallet 10. North America Industrial Truck Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Industrial Truck Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 11.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 11.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 12. Canada Industrial Truck Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 12.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 12.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 13. Mexico Industrial Truck Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 13.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 13.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 14. Europe Industrial Truck Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 14.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 14.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 15. Europe Industrial Truck Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Industrial Truck Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 16.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 16.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 17. France Industrial Truck Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 17.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 17.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 18. Germany Industrial Truck Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 18.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 18.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 19. Italy Industrial Truck Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 19.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 19.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 20. Spain Industrial Truck Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 20.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 20.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 21. Sweden Industrial Truck Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 21.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 21.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 22. CIS Countries Industrial Truck Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 22.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 22.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 23. Rest of Europe Industrial Truck Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 23.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 23.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 24. Asia Pacific Industrial Truck Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 24.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 24.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 25. Asia Pacific Industrial Truck Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Industrial Truck Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 26.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 26.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 27. India Industrial Truck Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 27.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 27.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 28. Japan Industrial Truck Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 28.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 28.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 29. South Korea Industrial Truck Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 29.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 29.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 30. Australia Industrial Truck Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 30.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 30.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 31. ASEAN Industrial Truck Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 31.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 31.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 32. Rest of Asia Pacific Industrial Truck Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 32.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 32.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 33. Middle East Africa Industrial Truck Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 33.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 33.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 34. Middle East Africa Industrial Truck Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Industrial Truck Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 35.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 35.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 36. GCC Countries Industrial Truck Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 36.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 36.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 37. Egypt Industrial Truck Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 37.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 37.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 38. Nigeria Industrial Truck Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 38.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 38.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 39. Rest of ME&A Industrial Truck Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 39.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 39.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 40. South America Industrial Truck Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 40.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 40.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 41. South America Industrial Truck Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Industrial Truck Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 42.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 42.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 43. Argentina Industrial Truck Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 43.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 43.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 44. Rest of South America Industrial Truck Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Propulsion System, 2022-2029 44.2. Market Size (Value) Estimates & Forecast By End-use Industry , 2022-2029 44.3. Market Size (Value) Estimates & Forecast By Type of Movement , 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Industrial Truck Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. Combilift Material Handling Solutions 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Doosan Corporation 45.3.3. Crown Equipment Corporation 45.3.4. Godrej & Boyce Mfg. Co. Ltd. 45.3.5. Caterpillar 45.3.6. Kion Group AG 45.3.7. SANY Group 45.3.8. Toyota Industries Corporation 45.3.9. Hangcha Group Co. Ltd. 45.3.10. Anhui Heli Co. Ltd. 45.3.11. Hyster-Yale Materials Handling Inc. 45.3.12. Jungheinrich AG 45.3.13. Lonking Forklift Company Ltd. 45.3.14. Komatsu Ltd. 45.3.15. EP Equipment Ltd. 45.3.16. Mitsubishi Nichiyu Forklift Co. Ltd. 45.3.17. Clark Material Handling Co. Ltd. 46. Primary Key Insights