Industrial Vehicles Market size was valued at US$ 47.02 Bn. in 2023 and the total revenue is expected to grow at 4.7 % of CAGR through 2024 to 2030, reaching nearly US$ 64.85 Bn.
Industrial Vehicles Market Overview:
This Industrial Vehicles market study looks at current and emerging industry trends and dynamics in the global Industrial Vehicles market. Industrial Vehicles Extensive market forecasting for the major market segments is carried out between 2024 and 2030. Extensive Industrial Vehicles market analysis is carried out by closely monitoring key product positions and the main competitors in the market framework. To understand the competitive landscape of the worldwide Industrial Vehicles market, key players are profiled and their strategies are thoroughly evaluated.
Market Scope:
The analysis contains a current examination of the present Industrial Vehicles market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Industrial Vehicles market environment. Increased demand for Industrial Vehicles is driving the market. The Industrial Vehicles market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.
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Segmentation:
Battery-operated industrial vehicles held xx% of the compound annual growth rate (CAGR) in 2023 based on drive type. Rechargeable batteries power these vehicles. Battery-powered business cars are becoming more and more popular. Battery-powered engines have the advantage of being environmentally friendly. They produce fewer pollutants, which makes these commercial vehicles an extremely inexperienced tool for warehouse and company tasks. With the majority of logistics service providers in the world focusing on lowering their carbon footprint, battery-operated motors have become a priority for industrial automobile manufacturers.
Key Players:
The market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the market’s major influencing factors, as well as complete company profiles of
1. Crown Equipment Corporation (US)
2. Hyster-Yale Materials Handling, Inc. (US)
3. Altec Industries (US)
4. CLARK MATERIAL HANDLING (US)
5. Lonking Forklift Co., Ltd. (China)
6. EP Equipment, Ltd. (China)
7. Hangcha Group Co. Ltd (China)
8. Noblelift Intelligent Equipment (China)
9. Anhui Heli Co., Ltd (China)
10. Liuzhou LiuGong Forklift Co.,Ltd (China)
11. Hubtex Maschinenbau GmbH & Co. KG (Germany)
12. Hubtex Maschinenbau GmbH & Co. KG (Germany)
13. Jungheinrich AG (Germany)
14. Kion Group AG (Germany)
15. Mitsubishi Nichiyu Forklift Co., Ltd. (Japan)
16. Toyota Industries Corporation (Japan)
17. Aichi Corporation (Japan)
Regional Analysis:
Individual market influencing variables and changes in market laws that impact present and future market trends are also included in the regional segment of the Industrial Vehicles market study. Data points such as downstream and upstream value chain analysis, technology trends, porter’s five forces analysis, and case studies are just a few of the indicators utilized to anticipate market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.
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COVID-19 Impact Analysis on Industrial Vehicles Market:
The COVID-19 epidemic has had a significant impact on the global Industrial Vehicles industry. Industrial Vehicles Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Industrial Vehicles market to decelerate in 2020. The negative impact of COVID-19 on the Industrial Vehicles market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2023, owing to increased demand for Industrial Vehicles.
Key Questions Answered in the Industrial Vehicles Market Report are:
- Which segment was responsible for the largest share in the Industrial Vehicles market?
- How was the competitive scenario of the Industrial Vehicles market in 2023?
- Which are the key factors responsible for the Industrial Vehicles market growth?
- Which region held the maximum share in the Industrial Vehicles market in 2023?
