The Global Industrial Trucks Market was valued at USD 29.7 billion in 2025 and is estimated to grow at a CAGR of 5.6% to reach USD 51.4 billion by 2035.
The rapid acceleration of e-commerce continues to reshape supply chains, pushing businesses to adopt faster and more efficient material-handling solutions. Rising online order volumes are driving companies to invest in large distribution hubs and smaller fulfillment sites to keep pace with expectations for rapid delivery. This increasing activity is elevating the need for forklifts, pallet trucks, and autonomous vehicles that support high-speed movement of goods throughout warehouse operations. As organizations prioritize quick internal transport and improved throughput, industrial trucks are becoming a vital competitive advantage in logistics environments. Advancements in warehouse automation including robotics, sensor-based systems, and integrated storage technologies are further propelling demand, as companies seek to optimize labor, maximize accuracy, and better utilize valuable warehouse space. This shift is particularly evident in dense urban markets, where automated processes are improving workflows and supporting higher productivity levels.
The AGVs segment generated USD 10.9 billion in 2025. Automated guided vehicles operate independently using technologies such as laser-based navigation, induction systems, and imaging tools. These vehicles follow mapped routes and can modify their paths in real time, enabling safe and efficient transportation of materials throughout warehouses without the need for manual operation. Their ability to move pallets, containers, and other goods with consistency and precision has made them an integral part of modern material-handling environments.
The ICE segment held a 62% share in 2025. Internal combustion engine trucks remain heavily relied upon for demanding material-handling activities both indoors and outdoors. These vehicles, powered by diesel, gasoline, or LPG, are known for high torque and durability, making them suitable for industries that require lifting and transporting heavy loads under challenging conditions. Their performance capabilities are crucial in sectors including mining, large-scale manufacturing, and construction.
U.S. Industrial Trucks Market accounted for a 75% share and generated USD 6.3 billion in 2025. The expansion of warehouses, paired with the accelerated adoption of automation technologies, continues to drive strong demand across manufacturing, logistics, and e-commerce operations. Growing interest in electric-powered equipment and enhanced handling solutions reflects ongoing corporate sustainability goals and safety compliance requirements. The presence of major global original equipment manufacturers and significant investment in next-generation material-handling technologies positions the U.S. as a key center for innovation within the industrial trucks sector.
Major companies in the Industrial Trucks Market include Anhui Heli, BYD Company, Clark Material Handling Company, Combilift, Crown Equipment, Doosan Corporation Industrial Vehicle, Hangcha Group, Hyster-Yale Materials Handling, Hyundai Heavy Industries, Jungheinrich AG, KION Group AG, Komatsu, Manitou Group, Mitsubishi Logisnext, and Toyota Industries. Companies in the Industrial Trucks Market are strengthening their competitive position by expanding electric and automated product lines that support sustainability goals and reduce operating costs. Many manufacturers are integrating advanced telematics and fleet management systems to provide real-time data on performance, maintenance, and utilization. Continuous investment in autonomous technologies such as AGVs and semi-automated forklifts helps improve productivity and minimize reliance on manual labor. Firms are also diversifying their global production bases to improve supply stability and reduce lead times.
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The rapid acceleration of e-commerce continues to reshape supply chains, pushing businesses to adopt faster and more efficient material-handling solutions. Rising online order volumes are driving companies to invest in large distribution hubs and smaller fulfillment sites to keep pace with expectations for rapid delivery. This increasing activity is elevating the need for forklifts, pallet trucks, and autonomous vehicles that support high-speed movement of goods throughout warehouse operations. As organizations prioritize quick internal transport and improved throughput, industrial trucks are becoming a vital competitive advantage in logistics environments. Advancements in warehouse automation including robotics, sensor-based systems, and integrated storage technologies are further propelling demand, as companies seek to optimize labor, maximize accuracy, and better utilize valuable warehouse space. This shift is particularly evident in dense urban markets, where automated processes are improving workflows and supporting higher productivity levels.
The AGVs segment generated USD 10.9 billion in 2025. Automated guided vehicles operate independently using technologies such as laser-based navigation, induction systems, and imaging tools. These vehicles follow mapped routes and can modify their paths in real time, enabling safe and efficient transportation of materials throughout warehouses without the need for manual operation. Their ability to move pallets, containers, and other goods with consistency and precision has made them an integral part of modern material-handling environments.
The ICE segment held a 62% share in 2025. Internal combustion engine trucks remain heavily relied upon for demanding material-handling activities both indoors and outdoors. These vehicles, powered by diesel, gasoline, or LPG, are known for high torque and durability, making them suitable for industries that require lifting and transporting heavy loads under challenging conditions. Their performance capabilities are crucial in sectors including mining, large-scale manufacturing, and construction.
U.S. Industrial Trucks Market accounted for a 75% share and generated USD 6.3 billion in 2025. The expansion of warehouses, paired with the accelerated adoption of automation technologies, continues to drive strong demand across manufacturing, logistics, and e-commerce operations. Growing interest in electric-powered equipment and enhanced handling solutions reflects ongoing corporate sustainability goals and safety compliance requirements. The presence of major global original equipment manufacturers and significant investment in next-generation material-handling technologies positions the U.S. as a key center for innovation within the industrial trucks sector.
Major companies in the Industrial Trucks Market include Anhui Heli, BYD Company, Clark Material Handling Company, Combilift, Crown Equipment, Doosan Corporation Industrial Vehicle, Hangcha Group, Hyster-Yale Materials Handling, Hyundai Heavy Industries, Jungheinrich AG, KION Group AG, Komatsu, Manitou Group, Mitsubishi Logisnext, and Toyota Industries. Companies in the Industrial Trucks Market are strengthening their competitive position by expanding electric and automated product lines that support sustainability goals and reduce operating costs. Many manufacturers are integrating advanced telematics and fleet management systems to provide real-time data on performance, maintenance, and utilization. Continuous investment in autonomous technologies such as AGVs and semi-automated forklifts helps improve productivity and minimize reliance on manual labor. Firms are also diversifying their global production bases to improve supply stability and reduce lead times.
Comprehensive Market Analysis and Forecast
- Industry trends, key growth drivers, challenges, future opportunities, and regulatory landscape
- Competitive landscape with Porter’s Five Forces and PESTEL analysis
- Market size, segmentation, and regional forecasts
- In-depth company profiles, business strategies, financial insights, and SWOT analysis
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Table of Contents
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Industry Insights
Chapter 4 Competitive Landscape, 2024
Chapter 5 Market Estimates and Forecast, by Type, 2021-2034 (USD Billion) (Thousand Units)
Chapter 6 Market Estimates and Forecast, by Propulsion, 2021-2034 (USD Billion) (Thousand Units)
Chapter 7 Market Estimates and Forecast, by Operator, 2021-2034 (USD Billion) (Thousand Units)
Chapter 8 Market Estimates and Forecast, by End Use Industry, 2021-2034 (USD Billion) (Thousand Units)
Chapter 9 Market Estimates and Forecast, by Region, 2021-2034 (USD Billion) (Thousand Units)
Chapter 10 Company Profiles
Companies Mentioned
The companies profiled in this Industrial Trucks market report include:- Anhui Heli
- BYD Company
- Clark Material Handling Company
- Combilift
- Crown Equipment
- Doosan Corporation Industrial Vehicle
- Hangcha Group
- Hyster-Yale Materials Handling
- Hyundai Heavy Industries
- Jungheinrich AG
- KION Group AG
- Komatsu
- Manitou Group
- Mitsubishi Logisnext
- Toyota Industries
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 250 |
| Published | December 2025 |
| Forecast Period | 2025 - 2035 |
| Estimated Market Value ( USD | $ 29.7 Billion |
| Forecasted Market Value ( USD | $ 51.4 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
