Industrial Vehicles Market to Witness Huge Growth by Business Market Insights

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The Industrial Vehicles market crossed US$ 43.7 billion mark in 2022 and is expected to hit US$ 55.0 billion by 2030, recording a CAGR of 4.5% during the forecast period.

The number of warehouses per country is rising as a result of the expanding demand for them to support hub and spoke models in a variety of industries, including e-commerce, the production of automotive components, consumer goods, and electronics. Over the next five years, the warehouse and fulfilment sector is anticipated to rise by double digits. In the US, the penetration of e-commerce increased from around 10% of total retail sales in 2019 to over 15% in 2020. Additionally, according to the US Bureau of Labor Statistics, there were 19,194 warehouses in the US in 2020 compared to 15,255 in 2011. Over the next five years, it is expected that worldwide online e-commerce sales would more than double, adding over 28,500 new warehouses to the existing stock. The need for industrial vehicles will probably expand as the number of warehouses grows. This will likely increase revenues for Industrial Vehicles market throughout the course of the forecast year.

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Companies Profiled in this report includes:

  • Anhui Heli Co., Ltd.
  • Clark Material Handling Company
  • Crown Equipment Corporation
  • Hangcha Group Co., Ltd.
  • Hyster-Yale Materials Handling, Inc.
  • Jungheinrich AG
  • KION Group AG
  • Konecranes
  • Mitsubishi Nichiyu Forklift Co., Ltd.
  • Toyota Industries Corporation.

The Industrial Vehicles Market research report by Business Market Insights includes Market segmentation and overlays shadow upon the leading market players highlighting the favourable competitive landscape and trends prevailing over the years. This study provides information about the sales and revenue during the historic and forecasted period of 2022 to 2030. Understanding the segments helps in identifying the importance of different factors that aid the Industrial Vehicles market growth.

The target audience for the report:

  • Raw material providers
  • Industrial Vehicle Manufacturers
  • Industrial Vehicles service providers
  • Industrial Vehicles technicians
  • Industrial Vehicles-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • Industrial Vehicles component suppliers
  • Industrial Vehicles and components distributors and sales firms
  • End users of Industrial Vehicles
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented based on:

  • By Product Type:
  • Forklifts
  • Demolition tools
  • Aisle Trucks
  • Container Handlers
  • By Drive Type :
  • Internal Combustion Engine
  • Battery-Operated
  • Gas-Powered.
  • Application:
    • Industrial
    • Cargo
  • Region
    • North America
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa

Recent strategic developments in the Industrial Vehicles market

The Industrial Vehicles market has undergone several significant developments, and a few of these have been mentioned below:

  • In February 2022, The company’s portfolio of industrial lift trucks includes the new TWLi20 three-wheel electric lithium-ion powered lift truck from CLARK.
  • In October 2021, Forklift mast manufacturer and distributor Lift Technologies, Inc. (USA) and Lift-Tek Elecar S.p.A. (Italy), also known as Lift-Tek, were bought by Cascade Corporation, a division of Toyota Industries Corporation. Shares of Lift-Tek were all bought by Cascade Corporation.
  • In November 2021, Mid-sized 4-wheel internal combustion pneumatic tyre forklifts with PF(D)80N and PF(D)120N model series were introduced by Mitsubishi Logisnext Americas. All of the UniCarriers brand’s dealers have access to these forklifts with engines.
  • In April 2020, In its current line of products, Konecranes introduced the E-VER forklift. The end customers of this product can enjoy a cutting-edge digital experience.

The report offers in-depth assessment of the growth and other aspects of the Industrial Vehicles market in important regions. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue, production, and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2022 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.

Industrial Vehicles Market: Competitive Landscape

This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, during the forecast period of 2022 to 2030.

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Major Key Points of Industrial Vehicles Market

  • Industrial Vehicles Market Overview
  • Industrial Vehicles Market Competition
  • Industrial Vehicles Market, Revenue and Price Trend
  • Industrial Vehicles Market Analysis by Application
  • Company Profiles and Key Figures in Industrial Vehicles Market
  • Market Dynamics
  • Methodology and Data Source

Leading market players and manufacturers are studied to help give a brief idea about them in the report. The challenges faced by them and the reasons they are on that position is explained to help make a well-informed decision. Competitive landscape Industrial Vehicles market is given presenting detailed insights into the company profiles, developments, merges, acquisitions, economic status and best SWOT analysis.

NOTE: Our team is studying Covid-19 and its impact on various industry verticals and wherever required we will be considering Covid-19 analysis of markets and industries. Cordially get in touch for more details.

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