Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 41.2 Billion | USD 61.3 Billion | 5.1% | 2022 |
FrequentlyAsked Questions
Industrial vehicles are nothing but motor vehicles that are specially designed for the transportation of goods and logistics purposes between warehouse distribution centers to the stores that contain finished inventory.
Rapid industrialization and an increase in the number of warehouses for better management of manufacturing industries and e-commerce have globally driven the global industrial vehicle market.
According to the report, the global market size was worth around USD 41.2 billion in 2022 and is predicted to grow to around USD 61.3 billion by 2030.
The global industrial vehicle market is expected to grow at a CAGR of 5.1% during the forecast period.
The global industrial vehicle market growth is expected to be driven by the Asia Pacific. It is currently the world’s highest revenue-generating market owing to rapid industrialization in the region.
The global industrial vehicle market is dominated by players like Crown Equipment Corporation, Anhui Heli Co. Ltd, Hangcha Forklift, Hyster-Yale Group, Inc., Kion Group AG, Jungheinrich AG, Konecranes, MITSUBISHI HEAVY INDUSTRIES, LTD., Toyota Industries Corporation, C. & J. Clark International, Doosan Corporation, Manitou Group, CARGOTEC CORPORATION, Daifuku Co., Ltd, SSI Schaefer Systems SA (Pty), Hyundai Construction Equipment Europe and Polaris Inc. among others.
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