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Industrial Vehicle Market - Global Industry Size, Share, Trends, Opportunity, & Forecast, 2020-2030- Product Image
Industrial Vehicle Market - Global Industry Size, Share, Trends, Opportunity, & Forecast, 2020-2030- Product Image
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Industrial Vehicle Market - Global Industry Size, Share, Trends, Opportunity, & Forecast, 2020-2030

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    Report

  • 180 Pages
  • November 2025
  • Region: Global
  • TechSci Research
  • ID: 5978853
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Battery-Operated is the fastest growing segment, Asia-Pacific is the largest market globally

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The Global Industrial Vehicle Market, valued at USD 45.60 Billion in 2024, is projected to experience a CAGR of 5.85% to reach USD 64.15 Billion by 2030. Industrial vehicles encompass specialized machinery designed for material handling, transportation, and operational efficiency across manufacturing, logistics, and mining sectors, including forklifts and automated guided vehicles.

Key Market Drivers

The global industrial vehicle market is significantly influenced by the rapid expansion of e-commerce and logistics sectors. The increasing volume of online retail transactions necessitates sophisticated material handling and warehousing solutions to manage inventory, streamline order fulfillment, and ensure timely delivery. This demand directly translates into a greater need for various industrial vehicles, including forklifts, automated guided vehicles, and other specialized equipment designed for efficient movement within distribution centers.

Key Market Challenges

A significant challenge impeding the expansion of the global industrial vehicle market is the substantial initial investment and ongoing operational costs associated with these specialized machines, especially advanced automated systems. These elevated financial requirements create a considerable barrier to entry for numerous businesses, particularly smaller and medium-sized enterprises. The high capital expenditure often delays or prevents the acquisition of new equipment, directly limiting market penetration and slowing the adoption cycle across various industrial sectors.

Key Market Trends

Electrification and hybridization are transforming industrial vehicle operations by offering cleaner, more energy-efficient alternatives to traditional internal combustion engines. This transition is driven by environmental regulations, corporate sustainability goals, and advancements in battery technology that enhance performance and reduce operational costs. According to the International Energy Agency's Global EV Outlook 2024, electric truck sales increased 35% in 2023 compared to 2022, reaching approximately 54,000 units globally. This growth signifies a strong movement towards lower-emission vehicles in industrial transportation.

Key Market Players Profiled:

  • Toyota
  • Kion
  • Jungheinrich
  • Hyster-Yale
  • Crown
  • Mitsubishi Logisnext
  • Anhui Heli
  • Hangcha
  • Doosan
  • Komatsu

Report Scope:

In this report, the Global Industrial Vehicle Market has been segmented into the following categories:

By Propulsion Type:

  • ICE
  • Battery-Operated
  • Gas-Powered

By Level of Autonomy:

  • Non/Semi-Autonomous
  • Autonomous

By Application:

  • Manufacturing
  • Warehousing
  • Freight &Logistics
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Industrial Vehicle Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report:
  • Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.

Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. Global Industrial Vehicle Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Propulsion Type (ICE, Battery-Operated, Gas-Powered)
5.2.2. By Level of Autonomy (Non/Semi-Autonomous, Autonomous)
5.2.3. By Application (Manufacturing, Warehousing, Freight &Logistics, Others)
5.2.4. By Region
5.2.5. By Company (2024)
5.3. Market Map
6. North America Industrial Vehicle Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Propulsion Type
6.2.2. By Level of Autonomy
6.2.3. By Application
6.2.4. By Country
6.3. North America: Country Analysis
6.3.1. United States Industrial Vehicle Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Propulsion Type
6.3.1.2.2. By Level of Autonomy
6.3.1.2.3. By Application
6.3.2. Canada Industrial Vehicle Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Propulsion Type
6.3.2.2.2. By Level of Autonomy
6.3.2.2.3. By Application
6.3.3. Mexico Industrial Vehicle Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Propulsion Type
6.3.3.2.2. By Level of Autonomy
6.3.3.2.3. By Application
7. Europe Industrial Vehicle Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Propulsion Type
7.2.2. By Level of Autonomy
7.2.3. By Application
7.2.4. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Industrial Vehicle Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Propulsion Type
7.3.1.2.2. By Level of Autonomy
7.3.1.2.3. By Application
7.3.2. France Industrial Vehicle Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Propulsion Type
7.3.2.2.2. By Level of Autonomy
7.3.2.2.3. By Application
7.3.3. United Kingdom Industrial Vehicle Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Propulsion Type
7.3.3.2.2. By Level of Autonomy
7.3.3.2.3. By Application
7.3.4. Italy Industrial Vehicle Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Propulsion Type
7.3.4.2.2. By Level of Autonomy
7.3.4.2.3. By Application
7.3.5. Spain Industrial Vehicle Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Propulsion Type
7.3.5.2.2. By Level of Autonomy
7.3.5.2.3. By Application
8. Asia Pacific Industrial Vehicle Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Propulsion Type
8.2.2. By Level of Autonomy
8.2.3. By Application
8.2.4. By Country
8.3. Asia Pacific: Country Analysis
8.3.1. China Industrial Vehicle Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Propulsion Type
8.3.1.2.2. By Level of Autonomy
8.3.1.2.3. By Application
8.3.2. India Industrial Vehicle Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Propulsion Type
8.3.2.2.2. By Level of Autonomy
8.3.2.2.3. By Application
8.3.3. Japan Industrial Vehicle Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Propulsion Type
8.3.3.2.2. By Level of Autonomy
8.3.3.2.3. By Application
8.3.4. South Korea Industrial Vehicle Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Propulsion Type
8.3.4.2.2. By Level of Autonomy
8.3.4.2.3. By Application
8.3.5. Australia Industrial Vehicle Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Propulsion Type
8.3.5.2.2. By Level of Autonomy
8.3.5.2.3. By Application
9. Middle East & Africa Industrial Vehicle Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Propulsion Type
9.2.2. By Level of Autonomy
9.2.3. By Application
9.2.4. By Country
9.3. Middle East & Africa: Country Analysis
9.3.1. Saudi Arabia Industrial Vehicle Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Propulsion Type
9.3.1.2.2. By Level of Autonomy
9.3.1.2.3. By Application
9.3.2. UAE Industrial Vehicle Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Propulsion Type
9.3.2.2.2. By Level of Autonomy
9.3.2.2.3. By Application
9.3.3. South Africa Industrial Vehicle Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Propulsion Type
9.3.3.2.2. By Level of Autonomy
9.3.3.2.3. By Application
10. South America Industrial Vehicle Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Propulsion Type
10.2.2. By Level of Autonomy
10.2.3. By Application
10.2.4. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Industrial Vehicle Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Propulsion Type
10.3.1.2.2. By Level of Autonomy
10.3.1.2.3. By Application
10.3.2. Colombia Industrial Vehicle Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Propulsion Type
10.3.2.2.2. By Level of Autonomy
10.3.2.2.3. By Application
10.3.3. Argentina Industrial Vehicle Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Propulsion Type
10.3.3.2.2. By Level of Autonomy
10.3.3.2.3. By Application
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments
13. Global Industrial Vehicle Market: SWOT Analysis
14. Porter's Five Forces Analysis
14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products
15. Competitive Landscape
15.1. Toyota
15.1.1. Business Overview
15.1.2. Products & Services
15.1.3. Recent Developments
15.1.4. Key Personnel
15.1.5. SWOT Analysis
15.2. Kion
15.3. Jungheinrich
15.4. Hyster-Yale
15.5. Crown
15.6. Mitsubishi Logisnext
15.7. Anhui Heli
15.8. Hangcha
15.9. Doosan
15.10. Komatsu
16. Strategic Recommendations17. About the Publisher & Disclaimer

Companies Mentioned

  • Toyota
  • Kion
  • Jungheinrich
  • Hyster-Yale
  • Crown
  • Mitsubishi Logisnext
  • Anhui Heli
  • Hangcha
  • Doosan
  • Komatsu

Table Information

Report AttributeDetails
No. of Pages180
PublishedNovember 2025
Forecast Period2024 - 2030
Estimated Market Value ( USD ) in 2024 $ 45.6 Billion
Forecasted Market Value ( USD ) by 2030 $ 64.15 Billion
Compound Annual Growth Rate5.8%
Regions CoveredGlobal
No. of Companies Mentioned10

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