The industrial vehicles market is mainly driven by the rise in the number of massive warehouses which has set up by e-commerce companies such as eBay and Amazon. These e-commerce warehouses mainly require the industrial vehicles to transport the stocked goods from the warehouse to the end user in an efficient and cost-effective manner. Moreover, the “container handler” is the fastest growing product type segment due to the rising demand for handling bulky goods in warehouses and increasing transportation sector over the forecast period. Also the factors such as increasing demand for autonomous solutions in material handling along with growing e-commerce sector across end-use industries are expected to boost the demand for the industrial vehicle market.  

Data Bridge Market Research analyses that the industrial vehicles market was valued at USD 42.79 billion in 2021 and is expected to reach USD 58.79 billion by 2029, registering a CAGR of 4.05% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.  

This worldwide Industrial Vehicles market report presents thorough information about the global industry comprising of valuable figures and stats. Moreover, the report contains records starting from the base year (2022) and stretches until the forecast period (2023-2029). This market research report has set a bench-marking example for such a vibrant market that explores several recommendations and practical growth strategies in relation to the market. The market report covers a wide spectrum of regions and also focuses on key regions that include North America, Europe, Asia Pacific, Middle East, South America, and the Middle East & Africa (MEA).

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A meticulous study of the competitive landscape of the market has been given in the Industrial Vehicles document along with the insights of the companies, financial status, trending developments, mergers, acquisitions and SWOT analysis. This market research will give a clear and specific idea to the readers about the overall market to take valuable decisions. The document focuses on leading global industry players providing information such as company profiles, specifications, capacity, cost, revenue and contact information. In-depth analysis of the market segmentation covered in this Industrial Vehicles market report assists in determining the prevailing market opportunities. This market report also offers comprehensive statistics on important aspects such as growth drivers, challenges and industry prospects.

Product definition

Industrial vehicles are manufactured to transport production materials and goods to warehouse distribution centers and storage of finished goods and raw materials. These industrial vehicles come in many sizes and are designed to mount specialized heavy equipment trucks. Now, battery-operated industrial vehicles are being progressively adopted over gas-powered industrial vehicles and the internal combustion engine, as they are friendly, reliable, economical, compact, environmental and efficient.

Some of the major players operating Industrial Vehicles market are

  • Anhui Heli Co. Ltd (China)
  • Crown Equipment Corporation (U.S.)
  • Hangcha Forklift (China)
  • Hyster-Yale Group, Inc., (U.S.)
  • Jungheinrich AG (Germany)
  • Kion Group AG (Germany)
  • Konecranes (Finland)
  • Toyota Industries Corporation (Japan)
  • Doosan Corporation (South Korea)
  • C. & J. Clark International  (U.K.)
  • Manitou Group (Japan)
  • Daifuku Co., Ltd (Japan)
  • SSI Schaefer Systems SA (Pty) (South Africa)
  • Hyundai Construction Equipment Europe (Belgium)
  • Polaris Inc. (U.S.)

Key Market Segments Covered in Industrial Vehicles Market Industry Research

Product Type


  • <5 Ton
  • 5-10 Ton
  • 11-36 Ton
  • >36 Ton

Tow Tractor

  • <5 Ton
  • 5-10 Ton
  • 11-30 Ton
  • >30 Ton

Aisle Truck

  • <1 Ton
  • 1-2 Ton
  • >2 Ton

Container Handler

  • <30 Ton
  • 30-40 Ton
  • >40 Ton


Drive Type

  • Internal Combustion Engine (ICE)
  • Battery-Operated, Gas-Powered
  • Others


  • Industrial
  • Cargo
  • Others

Industrial Vehicles Market Regional Analysis/Insights

The industrial vehicles market is analysed and market size insights and trends are provided by country, product type, drive type and application as referenced above.

The countries covered in the industrial vehicles market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.

Asia Pacific dominates the industrial vehicles market in terms of market revenue. This is due to the rapid urbanization, the development of the automobile sector, and increasing usages of industrial vehicles for transporting finished raw material and goods.

North America is projected to be the fastest developing regions during the forecast period of 2022-2029 due to growing popularity of driverless industrial vehicle in this region.


  • Growing adoption of industrial vehicle

The growing adoption of industrial vehicles in automotive, healthcare, chemical, food and beverages, and among others, is anticipated to drive the manufacturing segment of the industrial vehicle market during the forecast period because these vehicles are also used in the manufacturing processes to retrieve and store inventory for the production line.

  • Digitalization of Vehicles

The rapid digitalization of vehicles also accelerate the market growth of industrial vehicle. The demand for achieving improved productivity, operational efficiency and profitability at reduced costs positively impacts the market's growth. The increase in substantial infrastructure and government funding on technological improvisation of these vehicles drives the market further.

Furthermore, increasing technological advancement to improve productivity, growing need of the warehouses, growing usages of battery-operated industrial vehicles are some of the major factors expected to increase the growth of the industrial vehicles market in the forecast period of 2020-2027.


  • Increasing demand for battery-operated industrial vehicles

Rechargeable batteries are used in battery-operated industrial vehicles to power respective vehicles. Recent years, Battery-operated industrial vehicles have been gaining substantial traction. The major advantage of battery-operated engines is there eco-friendly nature. These engines produce lower emissions, making them a perfect green machine for warehouse and industrial projects. So the growing adoption of integrating smart factories and battery-operated vehicles into material handling industries will lead to digitalization and modularization which will further boost the market growth and create immense opportunities for the market in upcoming year.

The advent of smart business in the material handling industry coupled with the increasing need to transport temperature sensitive products will further generate immense opportunities for the growth of the industrial vehicles market during the forecast period of 2022-2029.  

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How does this Industrial Vehicles Market Insights Help?

  •  Industrial Vehicles Market share (regional, product, application, end-user) both in terms of volume and revenue along with CAGR
  • The Key parameters which are driving this market and restraining its growth
  • What all challenges manufacturers will face as well as new opportunities and threats faced by them
  • To learn about the market strategies that are being adopted by your competitors and leading organizations
  • To Increase insightful analyses of the market and have a comprehensive understanding of the “Industrial Vehicles  Market” and its commercial landscape

  • Part 01: Executive Summary
  • Part 02: Scope of The Report
  • Part 03: Research Methodology
  • Part 04: Market Landscape
  • Part 05: Pipeline Analysis
  • Part 06: Market Sizing
  • Part 07: Five Forces Analysis
  • Part 08: Market Segmentation
  • Part 09: Customer Landscape
  • Part 10: Regional Landscape
  • Part 11: Decision Framework
  • Part 12: Drivers and Challenges
  • Part 13: Market Trends
  • Part 14: Vendor Landscape
  • Part 15: Vendor Analysis
  • Part 16: Appendix

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Queries Resolved In This Report:

  1. Which will be the specialties at which Industrial Vehicles Market players profiling with intensive designs, financials, and furthermore, ongoing headways should set nearness?
  2. Which will be the foreseen development rates for your own Industrial Vehicles economy out and out and furthermore for each portion inside?
  3. Which will be the Industrial Vehicles application and sorts and estimate joined intently by makers?
  4. Which will be the dangers which will attack growth?
  5. The length of the Industrial Vehicles market opportunity?
  6. How Industrial Vehicles Market share advance vacillations their value from various assembling brands?


People looking to enrich the decision-making capability by following points must buy the report:

  1. Breakdown of market share of the top Industrial Vehicles industry players
  2. Evaluations of market share for the regional and country level sectors
  3. Estimation of Industrial Vehicles market for the forecast period of all the aforementioned classes, sub classes, and the domestic markets
  4. Tactical recommendation for the newbies
  5. Tactical recommendation in primary business industries based on the Industrial Vehicles market forecast

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