The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Industrial Vehicle Global Market Report 2023, the worldwide industrial vehicle market is projected to advance from $43.21 billion in 2022 to $46 billion in 2023, with a 6.4% compound annual growth rate (CAGR). Anticipations indicate that the industrial vehicle market will attain $56.98 billion in 2027 at a 5.5% CAGR.

North America held the largest industrial vehicle market share, and Asia-Pacific was the fastest-growing region in 2022.

Industrial Vehicle Market Driver

The industrial vehicle market is poised for growth due to the expanding e-commerce sector. E-commerce involves online trading, monetary transactions, and data transfer via electronic networks, primarily the Internet. The rising demand for online orders has led logistics companies to enlarge their vehicle fleets to accommodate increased delivery loads. Industrial vehicles play a crucial role in efficiently and punctually moving goods, ensuring customer contentment within the e-commerce realm. For example, the International Trade Administration reported in September 2022 that consumer eCommerce in the UK constitutes 30% of the nation’s overall retail sector, up from 20% in 2020, generating an annual e-commerce revenue exceeding $120 billion. Hence, the thriving e-commerce industry propels the industrial vehicle market.

View More On The Industrial Vehicle Market Report 2023 – https://www.thebusinessresearchcompany.com/report/industrial-vehicle-global-market-report

Key Industrial Vehicle Market Segments

The global industrial vehicle market is segmented –

1) By Product Type: Forklift, Tow Tractor, Aisle Truck, Container Handler

2) By Drive Type: Internal Combustion Engine (ICE), Battery-Operated, Gas-Powered

3) By Level of Autonomy: Non Or Semi-Autonomous, Autonomous

4) By Application: Manufacturing, Warehousing, Freight And Logistics, Other Applications

Industrial Vehicle Market Prominent Players

Major players in the industrial vehicle market are John Deere, Komatsu Ltd., Toyota Industries Corporation, Faurecia, Lear Corp., Yamaha Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Doosan Corp., Kion Group AG, Mahle Group, Benteler Automotive, GKN Automotive, Jungheinrich AG, Konecranes Oyj, Crown Equipment Corporation, Manitou, Hyster-Yale Group Inc., Anhui Heli Co. Ltd., Hangcha Group Co. Ltd, Hyster-Yale Materials Handling Inc., Hyundai Construction Equipment Co. Ltd., Godrej Material Handling, Ace Cranes, Mitsubishi Logisnext Co. Ltd., Clark Material Handling Company, Nebula Automotive Pvt. Ltd., Cargotec Oyj, Atlas ATV, and Rohnel Motors.

Request A Sample Of The Global Industrial Vehicle Market Report 2023:

https://www.thebusinessresearchcompany.com/sample_request?id=12474&type=smp

Prominent Industrial Vehicle Market Trend

In the industrial vehicle market, a prominent trend is the adoption of technological innovations by major companies to maintain their market positions. For example, Schäffer Maschinenfabrik GmbH, a German industrial machinery manufacturer specializing in industrial vehicles, introduced the electric-drive telescopic wheel loader Schäffer 23e T in November 2022. The 23e T, a telescopic variant of the 23e yard loader, is equipped with a robust 31.3 kWh battery, offering up to eight hours of uninterrupted operation and achieving an efficiency rating exceeding 90%, approximately three times that of a conventional fuel-powered machine. This advancement significantly reduces maintenance needs since it eliminates the requirement for fuel and fuel filters.

The Industrial Vehicle Global Market Report 2023  provides comprehensive insights on the industrial vehicle market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the industrial vehicle market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Electric Commercial Vehicles Global Market Report 2023

Motor Vehicles Global Market Report 2023

Commercial Vehicle Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708

Email us at info@tbrc.info

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model