The industrial truck market size is expected to see strong growth in the next few years. It will grow to $31.68 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to safety and ergonomics enhancements, global trade and logistics growth, adoption of robotics and ai, efficiency and productivity improvements, expansion of manufacturing sectors.. Major trends in the forecast period include shift towards electric trucks, automation and autonomous trucks, data analytics and telematics integration, customization and adaptability, enhanced safety features.
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Scope Of Industrial Truck Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Industrial Truck Market Overview
Market Drivers –
The growth of the e-commerce industry is expected to propel the growth of the industrial truck market going forward. E-commerce refers to the activity of buying and selling goods through the internet. Product transport and warehousing are the most important part of e-commerce. As the e-commerce industry is growing, the demand for proper warehousing specialties such as forklift operators and forklifts also increases. For instance, according to the US Department of Commerce, an executive department of the US federal government creating opportunities in commerce, e-commerce increased by 10.8% in the third quarter of 2022 as compared to the same period in 2021 and retail sales increased by 9.1%. Total e-commerce sales totaled $251.7 billion in 2022. As a result, the growing e-commerce industry is driving the growth of the industrial truck market.
Market Trends –
Product innovations are a key trend gaining popularity in the industrial trucks market. Major companies in the market are introducing innovative products to sustain their position in the market. For instance, in May 2022, Hyster-Yale Materials Handling, Inc., a US-based designer, and manufacturer of lift trucks, launched new A Series lift trucks. The new trucks are designed using A+Logic, which is a set of features that helps to fine-tune the truck as per their needs. These trucks are highly configurable and have industry-leading fuel economy, and are fitted with robust components.
The industrial truck market covered in this report is segmented –
1) By Type: Pallet Truck, Lifting Truck, Forklift Truck, Platform Truck, Other Types
2) By Power: Fuel Operated, Electric Operated
3) By Application: Mining Application, Logistics Application, Construction Application, Other Applications
4) By End-Use Industry: Aviation Industry, Construction Industry, Manufacturing Industry, Transport And Shipping Industry
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Regional Insights –
Asia-Pacific was the largest region in the industrial truck market share in 2023. The regions covered in the industrial truck market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the industrial truck market report are Combilift Material Handling Solutions, Doosan Corporation, Crown Controls Corp., Caterpillar Inc, Kion Group AG, Toyoda Automatic Loom Works Ltd., Mitsubishi Nichiyu Forklift Co. Ltd, Clark Material Handling Co. Ltd, Hangcha Group Co. Ltd, Anhui Heli Co. Ltd, Hyster-Yale Materials Handling Inc., Jungheinrich AG, Komatsu Ltd, Dearborn Mid-West Company LLC, UniCarriers Americas Corporation, Lonking Forklift Company Ltd, HD Hyundai Co Ltd, Nissan Forklift Corp., TCM Limited, Sanyo Electric Co. Ltd., The Liebherr Group, CNH Industrial, Volvo Group, Eaton Corporation PLC, GE Power Conversion, ASEA Brown Boveri, Siemens AG, Kawasaki Heavy Industries Ltd., Sumitomo Corporation, Toshiba Corporation, Hitachi Ltd. .
Table of Contents
1. Executive Summary
2. Industrial Truck Market Report Structure
3. Industrial Truck Market Trends And Strategies
4. Industrial Truck Market – Macro Economic Scenario
5. Industrial Truck Market Size And Growth
…..
27. Industrial Truck Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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