Industrial Truck Market
Industrial Truck Market Study by Hand Trucks, Pallet Jacks, Walkie Stackers, Pallet Trucks, Platform Trucks, Counterbalanced Lift Trucks, Reach Trucks, Turret Trucks, and Others from 2024 to 2034
Analysis of Industrial Truck Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Industrial Truck Market Outlook (2024 to 2034)
Worldwide revenue from the industrial truck market is estimated at US$ 29.96 billion in 2024 and has been projected to increase at a CAGR of 22.3% to reach US$ 223.66 billion by the end of 2034.
Industrial trucks are becoming increasingly prevalent globally due to their specialization in transporting goods within factories, construction sites, and other off-road settings. These trucks are designed for enhanced maneuverability in industrial environments, utilizing mechanized loading and unloading to simplify the management of daily operations for industrial workers.
There is a rising trend toward automation in nearly all activities, positively influencing the industrial truck market. Automation involves employing technology to perform tasks with minimal human intervention, thus reducing manual involvement. This encompasses a wide range of technologies and applications, including cybersecurity, process measurement, and control sensors. Integrating automation into industrial trucks enhances safety, alleviates job-related stress and injuries, and boosts productivity and efficiency among industrial workers, thereby expanding the industrial truck market.
- For example, in October 2023, Cavintek Inc., a United States-based firm, reported that nearly 80% of company leaders experienced significant productivity gains due to automation and remote workers. Additionally, 43% of organizations are planning workforce reductions through automation technology, driving demand for automation in industrial trucks.
Industrial trucks come in various types, including electric, conventional, and manual. Electric trucks are gaining traction over conventional ones, as they represent the future of the industry.
| Report Attributes | Details |
|---|---|
| Industrial Truck Market Size (2024E) | US$ 29.96 Billion |
| Forecasted Market Value (2034F) | US$ 223.66 Billion |
| Global Market Growth Rate (2024 to 2034) | 22.3% CAGR |
| North America Market Share (2024E) | 25.7% |
| East Asia Market Growth Rate (2024 to 2034) | 21.4% CAGR |
| Electric Truck Segment Share (2034F) | 71.3% |
| Manufacturing Segment Value (2034F) | US$ 41.6 Billion |
| Key Companies Profiled | Anhui Heli Co., Ltd.; BYD Company Limited; Crown Equipment Corporation; Doosan Corporation; Industrial Vehicle; Hyster-Yale Materials Handling, Inc.; Hyundai Heavy Industries Co., Ltd.; Jungheinrich AG; KION Group AG; Komatsu Ltd.; Mitsubishi Logisnext Co., Ltd.; Toyota Industries Corporation; Doosan Corporation; Godrej & Boyce Mfg. Co. Ltd.; Caterpillar; Clark Material Handling Co. Ltd.; Hangcha Group Co. Ltd.; Lonking Forklift Company Ltd.; EP Equipment Ltd. |
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What’s Mainly Benefiting Industrial Truck Manufacturers?
“Expansion of e-Commerce Sector and Warehousing Operations”
The e-commerce sector around the world is seeing substantial growth, backed by rising usage of smartphones and increasing Internet connectivity. Leading global business players, including Amazon and Alibaba, are driving this demand. Additionally, the ease of purchasing and the extensive shopping experience offered to customers are further boosting e-commerce sales. These factors are leading customers to shift from traditional shopping to online shopping.
Demand for warehousing facilities is growing at a significant pace to accommodate the storage and distribution of goods purchased online. This is driving industrial truck market growth, as these trucks play a crucial role in logistics and transportation. With e-commerce businesses aiming to enhance their supply chain networks and operational efficiency, the need for industrial trucks is expected to rise continuously in the coming years. Looking ahead, the anticipated growth in online shopping is likely to result in greater profits for industrial truck manufacturers.
“Rising Demand for Rental and Leased Industrial Trucks”
There has been a growing emphasis on rental and leasing services, with market leaders such as United Rentals and Big Rentz leading the way. New industrial projects often need these industrial trucks and other vehicles at various off-site locations, but buying these vehicles for short-term use can be very costly. As a result, there is an increasing demand for rental and lease vehicles for specific projects. This industrial truck market trend has significantly boosted the profitability of manufacturers, and more suppliers are now reaching out to rental companies to explore potential sales opportunities.
What are the Hindrances to Market Growth?
“High Cost of Industrial Vehicles and Need for Skilled Technicians”
When it comes to industrial projects, costs can sometimes reach billions, and due to these high expenses, contractors often seek to minimize other costs, including repairs on industrial vehicles. This has significantly impacted manufacturers due to the substantial repair and maintenance costs associated with these vehicles. As a result, many contractors choose alternative transportation methods, which is impeding the expansion of the industrial truck market size.
Skilled technicians are typically required to diagnose and repair issues, which further increases operational costs and leads to more contractors avoiding the purchase of industrial vehicles. However, manufacturers are addressing this issue by making industrial vehicles more effective and efficient to reduce maintenance needs.
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Country-wise Analysis
With the increase in industrial projects around the world, the market is expected to reach new heights, with the United States, Canada, Japan, and South Korea emerging as major contributors to this growth. Among all these countries, the United States in North America is expected to hold a significant industrial truck market share.
What’s Amplifying Market Opportunities for Manufacturers in the United States?
“Use of Automated Guided Vehicles for Easier Operation and Material Transport”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 7.02 Billion |
| Growth Rate (2024 to 2034) | 22.2% CAGR |
| Projected Value (2034F) | US$ 52.31 Billion |
The United States has always been at the forefront of technological advancements. In the industrial vehicles segment, there is now a trend toward automated guided vehicles, which are making it much easier for industrial workers to operate and transport materials. This trend is increasing the demand for modern industrial trucks in the country. The country has a large network of existing and emerging enterprises across various industries, indicating a substantial client base ready to invest in industrial vehicles. This is further stimulating the demand for industrial trucks nationwide.
Why is There High Need for Industrial Trucks in Japan?
“High Focus on Efficient Logistics in e-Commerce”
| Attribute | Japan |
|---|---|
| Market Value (2024E) | US$ 3.23 Billion |
| Growth Rate (2024 to 2034) | 22.4% CAGR |
| Projected Value (2034F) | US$ 24.46 Billion |
When it comes to the East Asia region, countries like China and India are developing at a significant pace with many industrial projects, creating a significant demand for industrial trucks. This situation presents a strong opportunity for Japan to export trucks and increase its influence in the East Asia region. In addition, the Asia Pacific region is experiencing a surge in e-commerce sales, which is expected to further boost the need for industrial trucks to support efficient logistics.
Category-wise Analysis
The global industrial truck market is segmented based on power source and end-use industry. The primary power sources include electric, conventional (IC engine), and manual. Various types of industrial trucks are utilized across different sectors, depending on these factors.
Why are More Contractors Choosing Electric Industrial Trucks?
“Electric Power Source Offering Environmental Benefits and Cost-Effectiveness”
| Attribute | Electric |
|---|---|
| Segment Value (2024E) | US$ 21.45 Billion |
| Growth Rate (2024 to 2034) | 22.3% CAGR |
| Projected Value (2034F) | US$ 159.47 Billion |
Electric power sources have become a widely used option for industrial trucks in various industrial projects. Contractors are increasingly choosing electric power sources due to their environmental benefits, cost-effectiveness, and operational efficiency. This shift towards electric power sources reflects a broader industry trend toward sustainability and reduced carbon emissions.
Which End-Use Industry Extensively Uses Industrial Trucks for Operations?
“Widespread Use of Industrial Trucks in Retail Sector to Optimize Inventory Management”
| Attribute | Retail |
|---|---|
| Segment Value (2024E) | US$ 15.02 Billion |
| Growth Rate (2024 to 2034) | 20% CAGR |
| Projected Value (2034F) | US$ 93.13 Billion |
Use of industrial trucks in the retail sector is driven by the need to optimize inventory management, enhance order fulfillment processes, and boost overall productivity. As e-commerce continues to grow, the demand for industrial trucks in retail is expected to rise further in the coming years. Consequently, more manufacturers are maintaining contact with retail companies and suppliers to enhance their profit opportunities, making this a notable trend in the market.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape
Key players in the industrial truck industry are forming strategic partnerships, such as agreements, to supply electric forklifts for specialized applications to cater to specific regional demands. Companies are focusing on technological innovation by introducing vehicles equipped with advanced lithium-ion batteries to improve vehicle efficiency and performance.
- In March 2022, Cargotec Corporation agreed with Pfeifer Holding GmbH, a leading European timber supplier, to provide three medium-sized electric forklift trucks for loading and unloading wooden products at sites in Austria and the Czech Republic.
- In January 2022, Crown Equipment Corporation unveiled its new Wave Work Assist Vehicle, featuring the latest V-Force lithium-ion technology batteries, which offer improved battery efficiency.
- In January 2022, Toyota Material Handling, a subsidiary of Toyota Industries Corporation, launched 22 new electric forklift models. The expanded range includes four operator compartments and models with 24V, 36V, and 48V options.
Fact.MR provides detailed information about the price points of key manufacturers of industrial trucks positioned across the world, sales growth, production capacity, and speculative technological expansion, in this updated market report.
Segmentation of Industrial Truck Market Research
-
By Product:
- Hand Trucks
- Two-Wheeled Hand Trucks
- Dolly
- Floor Hand Trucks
- Pallet Jacks
- Manual Pallet Jacks
- Powered Pallet Jacks
- Walkie Stackers
- Manual Walkie Stackers
- Powered Walkie Stackers
- Pallet Trucks
- Platform Trucks
- Walkie Platform Trucks
- Rider Platform Trucks
- Counterbalanced Lift Trucks
- Sit-Down Counterbalanced Lift Trucks
- Stand-Up Counterbalanced Lift Trucks
- Reach Trucks
- Turret Trucks
- Operator-Down Turret Trucks
- Operator-Up Turret Trucks
- Order Pickers
- Sideloaders
- Tow Trucks
- Personnel and Burden Carriers
- Automatic Guided Vehicles
- Tow AGVs
- Unit Load AGVs
- Light Load AGVs
- Fork AGVs
- Hand Trucks
-
By Power Source:
- Electric
- Conventional (IC Engine)
- Manual
-
By Capacity:
- Below 2.5 Tons
- Above 2.5 Tons
-
By End Use:
- Logistics
- Retail
- Manufacturing
- Food & Beverages
- Automotive
- Pharmaceuticals
- Chemical General Manufacturing
- Aerospace & Defense
-
By Region:
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Power Source 6.2. Product 6.3. Capacity 6.4. End Use 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Power Source 7.1. Electric 7.2. Conventional (IC Engine) 7.3. Manual 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product 8.1. Hand Trucks 8.2. Pallet Jacks 8.3. Walkie Stackers 8.4. Pallet Trucks 8.5. Platform Trucks 8.6. Counterbalanced Lift Trucks 8.7. Reach Trucks 8.8. Turret Trucks 8.9. Order Pickers 8.10. Sideloaders 8.11. Tow Trucks 8.12. Personnel and Burden Carriers 8.13. Automatic Guided Vehicles 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Capacity 9.1. Below 2.5 Tons 9.2. Above 2.5 Tons 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use 10.1. Logistics 10.2. Retail 10.3. Manufacturing 10.4. Food & Beverages 10.5. Automotive 10.6. Pharmaceuticals 10.7. Chemical General Manufacturing 10.8. Aerospace & Defense 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 11.1. North America 11.2. Latin America 11.3. Western Europe 11.4. Eastern Europe 11.5. East Asia 11.6. South Asia & Pacific 11.7. Middle East & Africa 12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 18. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 19. Sales Forecast 2024 to 2034 by Power Source, Product, Capacity, End Use, and Region for 30 Countries 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 21. Company Profile 21.1. Anhui Heli Co., Ltd. 21.2. BYD Company Limited 21.3. Crown Equipment Corporation 21.4. Doosan Corporation 21.5. Industrial Vehicle 21.6. Hyster-Yale Materials Handling, Inc. 21.7. Hyundai Heavy Industries Co., Ltd. 21.8. Jungheinrich AG 21.9. KION Group AG 21.10. Komatsu Ltd. 21.11. Mitsubishi Logisnext Co., Ltd. 21.12. Toyota Industries Corporation 21.13. Doosan Corporation 21.14. Godrej & Boyce Mfg. Co. Ltd. 21.15. Caterpillar 21.16. Clark Material Handling Co. Ltd. 21.17. Hangcha Group Co. Ltd. 21.18. Lonking Forklift Company Ltd. 21.19. EP Equipment Ltd. 22. Assumptions and Acronyms Used 23. Research Methodology
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List Of Table
Table 1: Global Market Value (US$ Mn) Analysis, by Power Source, 2019 to 2023
Table 2: Global Market Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 3: Global Market Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 4: Global Market Value (US$ Mn) Analysis, by Product, 2019 to 2023
Table 5: Global Market Value (US$ Mn) Analysis, by Product, 2024 to 2034
Table 6: Global Market Value (US$ Mn) Opportunity Analysis, by Product, 2024 to 2034
Table 7: Global Market Value (US$ Mn) Analysis, by Capacity, 2019 to 2023
Table 8: Global Market Value (US$ Mn) Analysis, by Capacity, 2024 to 2034
Table 9: Global Market Value (US$ Mn) Opportunity Analysis, by Capacity, 2024 to 2034
Table 10: Global Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 11: Global Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 12: Global Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 13: Global Market Value (US$ Mn) Analysis, by Region, 2019 to 2023
Table 14: Global Market Value (US$ Mn) Analysis, by Region, 2024 to 2034
Table 15: Global Market Value (US$ Mn) Opportunity Analysis, by Region, 2024 to 2034
Table 16: North America Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 17: North America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 18: North America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 19: North America Market Value (US$ Mn) Analysis, by Power Source, 2019 to 2023
Table 20: North America Market Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 21: North America Market Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 22: North America Market Value (US$ Mn) Analysis, by Product, 2019 to 2023
Table 23: North America Market Value (US$ Mn) Analysis, by Product, 2024 to 2034
Table 24: North America Market Value (US$ Mn) Opportunity Analysis, by Product, 2024 to 2034
Table 25: North America Market Value (US$ Mn) Analysis, by Capacity, 2019 to 2023
Table 26: North America Market Value (US$ Mn) Analysis, by Capacity, 2024 to 2034
Table 27: North America Market Value (US$ Mn) Opportunity Analysis, by Capacity, 2024 to 2034
Table 28: North America Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 29: North America Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 30: North America Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 31: Latin America Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 32: Latin America Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 33: Latin America Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 34: Latin America Market Value (US$ Mn) Analysis, by Power Source, 2019 to 2023
Table 35: Latin America Market Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 36: Latin America Market Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 37: Latin America Market Value (US$ Mn) Analysis, by Product, 2019 to 2023
Table 38: Latin America Market Value (US$ Mn) Analysis, by Product, 2024 to 2034
Table 39: Latin America Market Value (US$ Mn) Opportunity Analysis, by Product, 2024 to 2034
Table 40: Latin America Market Value (US$ Mn) Analysis, by Capacity, 2019 to 2023
Table 41: Latin America Market Value (US$ Mn) Analysis, by Capacity, 2024 to 2034
Table 42: Latin America Market Value (US$ Mn) Opportunity Analysis, by Capacity, 2024 to 2034
Table 43: Latin America Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 44: Latin America Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 45: Latin America Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 46: Western Europe Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 47: Western Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 48: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 49: Western Europe Market Value (US$ Mn) Analysis, by Power Source, 2019 to 2023
Table 50: Western Europe Market Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 51: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 52: Western Europe Market Value (US$ Mn) Analysis, by Product, 2019 to 2023
Table 53: Western Europe Market Value (US$ Mn) Analysis, by Product, 2024 to 2034
Table 54: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Product, 2024 to 2034
Table 55: Western Europe Market Value (US$ Mn) Analysis, by Capacity, 2019 to 2023
Table 56: Western Europe Market Value (US$ Mn) Analysis, by Capacity, 2024 to 2034
Table 57: Western Europe Market Value (US$ Mn) Opportunity Analysis, by Capacity, 2024 to 2034
Table 58: Western Europe Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 59: Western Europe Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 60: Western Europe Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 61: Eastern Europe Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 62: Eastern Europe Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 63: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 64: Eastern Europe Market Value (US$ Mn) Analysis, by Power Source, 2019 to 2023
Table 65: Eastern Europe Market Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 66: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 67: Eastern Europe Market Value (US$ Mn) Analysis, by Product, 2019 to 2023
Table 68: Eastern Europe Market Value (US$ Mn) Analysis, by Product, 2024 to 2034
Table 69: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Product, 2024 to 2034
Table 70: Eastern Europe Market Value (US$ Mn) Analysis, by Capacity, 2019 to 2023
Table 71: Eastern Europe Market Value (US$ Mn) Analysis, by Capacity, 2024 to 2034
Table 72: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by Capacity, 2024 to 2034
Table 73: Eastern Europe Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 74: Eastern Europe Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 75: Eastern Europe Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 76: East Asia Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 77: East Asia Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 78: East Asia Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 79: East Asia Market Value (US$ Mn) Analysis, by Power Source, 2019 to 2023
Table 80: East Asia Market Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 81: East Asia Market Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 82: East Asia Market Value (US$ Mn) Analysis, by Product, 2019 to 2023
Table 83: East Asia Market Value (US$ Mn) Analysis, by Product, 2024 to 2034
Table 84: East Asia Market Value (US$ Mn) Opportunity Analysis, by Product, 2024 to 2034
Table 85: East Asia Market Value (US$ Mn) Analysis, by Capacity, 2019 to 2023
Table 86: East Asia Market Value (US$ Mn) Analysis, by Capacity, 2024 to 2034
Table 87: East Asia Market Value (US$ Mn) Opportunity Analysis, by Capacity, 2024 to 2034
Table 88: East Asia Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 89: East Asia Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 90: East Asia Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 91: South Asia & Pacific Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 92: South Asia & Pacific Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 93: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 94: South Asia & Pacific Market Value (US$ Mn) Analysis, by Power Source, 2019 to 2023
Table 95: South Asia & Pacific Market Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 96: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 97: South Asia & Pacific Market Value (US$ Mn) Analysis, by Product, 2019 to 2023
Table 98: South Asia & Pacific Market Value (US$ Mn) Analysis, by Product, 2024 to 2034
Table 99: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Product, 2024 to 2034
Table 100: South Asia & Pacific Market Value (US$ Mn) Analysis, by Capacity, 2019 to 2023
Table 101: South Asia & Pacific Market Value (US$ Mn) Analysis, by Capacity, 2024 to 2034
Table 102: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by Capacity, 2024 to 2034
Table 103: South Asia & Pacific Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 104: South Asia & Pacific Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 105: South Asia & Pacific Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
Table 106: MEA Market Value (US$ Mn) Analysis, by Country, 2019 to 2023
Table 107: MEA Market Value (US$ Mn) Analysis, by Country, 2024 to 2034
Table 108: MEA Market Value (US$ Mn) Opportunity Analysis, by Country, 2024 to 2034
Table 109: MEA Market Value (US$ Mn) Analysis, by Power Source, 2019 to 2023
Table 110: MEA Market Value (US$ Mn) Analysis, by Power Source, 2024 to 2034
Table 111: MEA Market Value (US$ Mn) Opportunity Analysis, by Power Source, 2024 to 2034
Table 112: MEA Market Value (US$ Mn) Analysis, by Product, 2019 to 2023
Table 113: MEA Market Value (US$ Mn) Analysis, by Product, 2024 to 2034
Table 114: MEA Market Value (US$ Mn) Opportunity Analysis, by Product, 2024 to 2034
Table 115: MEA Market Value (US$ Mn) Analysis, by Capacity, 2019 to 2023
Table 116: MEA Market Value (US$ Mn) Analysis, by Capacity, 2024 to 2034
Table 117: MEA Market Value (US$ Mn) Opportunity Analysis, by Capacity, 2024 to 2034
Table 118: MEA Market Value (US$ Mn) Analysis, by End Use, 2019 to 2023
Table 119: MEA Market Value (US$ Mn) Analysis, by End Use, 2024 to 2034
Table 120: MEA Market Value (US$ Mn) Opportunity Analysis, by End Use, 2024 to 2034
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List Of Figures
Figure 1: Global Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 2: Global Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 3: Global Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 4: Global Market Incremental $ Opportunity, 2024 to 2034
Figure 5: Global Market Share and BPS Analysis by Power Source, 2024 & 2034
Figure 6: Global Market Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 7: Global Market Attractiveness Analysis by Power Source, 2024 to 2034
Figure 8: Global Market Share and BPS Analysis by Product, 2024 & 2034
Figure 9: Global Market Y-o-Y Growth Projections by Product, 2024 to 2034
Figure 10: Global Market Attractiveness Analysis by Product, 2024 to 2034
Figure 11: Global Market Share and BPS Analysis by Capacity, 2024 & 2034
Figure 12: Global Market Y-o-Y Growth Projections by Capacity, 2024 to 2034
Figure 13: Global Market Attractiveness Analysis by Capacity, 2024 to 2034
Figure 14: Global Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 15: Global Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 16: Global Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 17: Global Market Share and BPS Analysis by Region, 2024 & 2034
Figure 18: Global Market Y-o-Y Growth Projections by Region, 2024 to 2034
Figure 19: Global Market Attractiveness Analysis by Region, 2024 to 2034
Figure 20: North America Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 21: North America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 22: North America Market Value Y-o-Y Growth and Forecast, 2034
Figure 23: North America Market Incremental $ Opportunity, 2024 to 2034
Figure 24: North America Market Share Analysis by Country, 2024 & 2034
Figure 25: North America Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 26: North America Market Attractiveness Analysis by Country, 2024 to 2034
Figure 27: North America Market Share and BPS Analysis by Power Source, 2024 & 2034
Figure 28: North America Market Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 29: North America Market Attractiveness Analysis by Power Source, 2024 to 2034
Figure 30: North America Market Share and BPS Analysis by Product, 2024 & 2034
Figure 31: North America Market Y-o-Y Growth Projections by Product, 2024 to 2034
Figure 32: North America Market Attractiveness Analysis by Product, 2024 to 2034
Figure 33: North America Market Share and BPS Analysis by Capacity, 2024 & 2034
Figure 34: North America Market Y-o-Y Growth Projections by Capacity, 2024 to 2034
Figure 35: North America Market Attractiveness Analysis by Capacity, 2024 to 2034
Figure 36: North America Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 37: North America Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 38: North America Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 39: Latin America Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 40: Latin America Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 41: Latin America Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 42: Latin America Market Incremental $ Opportunity, 2024 to 2034
Figure 43: Latin America Market Share Analysis by Country, 2024 & 2034
Figure 44: Latin America Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 45: Latin America Market Attractiveness Analysis by Country, 2024 to 2034
Figure 46: Latin America Market Share and BPS Analysis by Power Source, 2024 & 2034
Figure 47: Latin America Market Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 48: Latin America Market Attractiveness Analysis by Power Source, 2024 to 2034
Figure 49: Latin America Market Share and BPS Analysis by Product, 2024 & 2034
Figure 50: Latin America Market Y-o-Y Growth Projections by Product, 2024 to 2034
Figure 51: Latin America Market Attractiveness Analysis by Product, 2024 to 2034
Figure 52: Latin America Market Share and BPS Analysis by Capacity, 2024 & 2034
Figure 53: Latin America Market Y-o-Y Growth Projections by Capacity, 2024 to 2034
Figure 54: Latin America Market Attractiveness Analysis by Capacity, 2024 to 2034
Figure 55: Latin America Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 56: Latin America Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 57: Latin America Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 58: Western Europe Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 59: Western Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 60: Western Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 61: Western Europe Market Incremental $ Opportunity, 2024 to 2034
Figure 62: Western Europe Market Share Analysis by Country, 2024 & 2034
Figure 63: Western Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 64: Western Europe Market Attractiveness Analysis by Country, 2024 to 2034
Figure 65: Western Europe Market Share and BPS Analysis by Power Source, 2024 & 2034
Figure 66: Western Europe Market Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 67: Western Europe Market Attractiveness Analysis by Power Source, 2024 to 2034
Figure 68: Western Europe Market Share and BPS Analysis by Product, 2024 & 2034
Figure 69: Western Europe Market Y-o-Y Growth Projections by Product, 2024 to 2034
Figure 70: Western Europe Market Attractiveness Analysis by Product, 2024 to 2034
Figure 71: Western Europe Market Share and BPS Analysis by Capacity, 2024 & 2034
Figure 72: Western Europe Market Y-o-Y Growth Projections by Capacity, 2024 to 2034
Figure 73: Western Europe Market Attractiveness Analysis by Capacity, 2024 to 2034
Figure 74: Western Europe Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 75: Western Europe Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 76: Western Europe Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 77: Eastern Europe Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 78: Eastern Europe Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 79: Eastern Europe Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 80: Eastern Europe Market Incremental $ Opportunity, 2024 to 2034
Figure 81: Eastern Europe Market Share Analysis by Country, 2024 & 2034
Figure 82: Eastern Europe Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 83: Eastern Europe Market Attractiveness Analysis by Country, 2024 to 2034
Figure 84: Eastern Europe Market Share and BPS Analysis by Power Source, 2024 & 2034
Figure 85: Eastern Europe Market Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 86: Eastern Europe Market Attractiveness Analysis by Power Source, 2024 to 2034
Figure 87: Eastern Europe Market Share and BPS Analysis by Product, 2024 & 2034
Figure 88: Eastern Europe Market Y-o-Y Growth Projections by Product, 2024 to 2034
Figure 89: Eastern Europe Market Attractiveness Analysis by Product, 2024 to 2034
Figure 90: Eastern Europe Market Share and BPS Analysis by Capacity, 2024 & 2034
Figure 91: Eastern Europe Market Y-o-Y Growth Projections by Capacity, 2024 to 2034
Figure 92: Eastern Europe Market Attractiveness Analysis by Capacity, 2024 to 2034
Figure 93: Eastern Europe Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 94: Eastern Europe Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 95: Eastern Europe Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 96: East Asia Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 97: East Asia Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 98: East Asia Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 99: East Asia Market Incremental $ Opportunity, 2024 to 2034
Figure 100: East Asia Market Share Analysis by Country, 2024 & 2034
Figure 101: East Asia Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 102: East Asia Market Attractiveness Analysis by Country, 2024 to 2034
Figure 103: East Asia Market Share and BPS Analysis by Power Source, 2024 & 2034
Figure 104: East Asia Market Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 105: East Asia Market Attractiveness Analysis by Power Source, 2024 to 2034
Figure 106: East Asia Market Share and BPS Analysis by Product, 2024 & 2034
Figure 107: East Asia Market Y-o-Y Growth Projections by Product, 2024 to 2034
Figure 108: East Asia Market Attractiveness Analysis by Product, 2024 to 2034
Figure 109: East Asia Market Share and BPS Analysis by Capacity, 2024 & 2034
Figure 110: East Asia Market Y-o-Y Growth Projections by Capacity, 2024 to 2034
Figure 111: East Asia Market Attractiveness Analysis by Capacity, 2024 to 2034
Figure 112: East Asia Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 113: East Asia Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 114: East Asia Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 115: South Asia & Pacific Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 116: South Asia & Pacific Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 117: South Asia & Pacific Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 118: South Asia & Pacific Market Incremental $ Opportunity, 2024 to 2034
Figure 119: South Asia & Pacific Market Share Analysis by Country, 2024 & 2034
Figure 120: South Asia & Pacific Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 121: South Asia & Pacific Market Attractiveness Analysis by Country, 2024 to 2034
Figure 122: South Asia & Pacific Market Share and BPS Analysis by Power Source, 2024 & 2034
Figure 123: South Asia & Pacific Market Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 124: South Asia & Pacific Market Attractiveness Analysis by Power Source, 2024 to 2034
Figure 125: South Asia & Pacific Market Share and BPS Analysis by Product, 2024 & 2034
Figure 126: South Asia & Pacific Market Y-o-Y Growth Projections by Product, 2024 to 2034
Figure 127: South Asia & Pacific Market Attractiveness Analysis by Product, 2024 to 2034
Figure 128: South Asia & Pacific Market Share and BPS Analysis by Capacity, 2024 & 2034
Figure 129: South Asia & Pacific Market Y-o-Y Growth Projections by Capacity, 2024 to 2034
Figure 130: South Asia & Pacific Market Attractiveness Analysis by Capacity, 2024 to 2034
Figure 131: South Asia & Pacific Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 132: South Asia & Pacific Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 133: South Asia & Pacific Market Attractiveness Analysis by End Use, 2024 to 2034
Figure 134: MEA Market Value (US$ Mn) Historical Analysis, 2019 to 2023
Figure 135: MEA Market Value (US$ Mn) Forecast and Analysis, 2024 to 2034
Figure 136: MEA Market Value Y-o-Y Growth and Forecast, 2019 to 2034
Figure 137: MEA Market Incremental $ Opportunity, 2024 to 2034
Figure 138: MEA Market Share Analysis by Country, 2024 & 2034
Figure 139: MEA Market Y-o-Y Growth Projection by Country, 2024 to 2034
Figure 140: MEA Market Attractiveness Analysis by Country, 2024 to 2034
Figure 141: MEA Market Share and BPS Analysis by Power Source, 2024 & 2034
Figure 142: MEA Market Y-o-Y Growth Projections by Power Source, 2024 to 2034
Figure 143: MEA Market Attractiveness Analysis by Power Source, 2024 to 2034
Figure 144: MEA Market Share and BPS Analysis by Product, 2024 & 2034
Figure 145: MEA Market Y-o-Y Growth Projections by Product, 2024 to 2034
Figure 146: MEA Market Attractiveness Analysis by Product, 2024 to 2034
Figure 147: MEA Market Share and BPS Analysis by Capacity, 2024 & 2034
Figure 148: MEA Market Y-o-Y Growth Projections by Capacity, 2024 to 2034
Figure 149: MEA Market Attractiveness Analysis by Capacity, 2024 to 2034
Figure 150: MEA Market Share and BPS Analysis by End Use, 2024 & 2034
Figure 151: MEA Market Y-o-Y Growth Projections by End Use, 2024 to 2034
Figure 152: MEA Market Attractiveness Analysis by End Use, 2024 to 2034
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How big is the industrial truck market in 2024?
The global market for industrial trucks is forecasted to reach US$ 29.96 billion in 2024.
What is the projection for the market for industrial trucks?
Worldwide revenue from industrial truck sales is projected to reach US$ 223.66 billion by 2034-end.
At what rate is the demand for industrial trucks projected to increase?
Demand for industrial trucks is forecasted to rise at 22.3% CAGR through 2034.
Who are the leading manufacturers of industrial trucks?
Key market players are Anhui Heli Co., Ltd., BYD Company Limited, Crown Equipment Corporation
Which power source accounts for a higher market share?
Electric industrial trucks are projected to hold 70.9% market share in 2024.
At what rate is the market projected to advance in South Korea?
The market in South Korea is forecasted to expand at 18.8% CAGR through 2034.
Which region is projected to hold a high share of the global market?
East Asia is projected to account for 39.3% of the global market share by 2034.
Industrial Truck Market