Industrial Vehicles Market 2021 : Future Growth Prospect, Industry Share And Growing Demand Analysis Till 2027

The Industrial Vehicles Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The global industrial vehicles market size is expected to reach USD 1850 billion by 2027; The market is predicted to register a CAGR of 5.50% from 2021 to 2027.

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Top Leading Companies of Global Industrial Vehicles Market are - Hyster-Yale Materials Handling, Jungheinrich, KION GROUP, Konecranes, TOYOTA INDUSTRIES, Anhui Heli Industrial Vehicle, Cargotec, Crown Equipment, Daifuku, Hangcha, Hyundai Construction Equipment Europe, Manituo, MITSUBISHI LOGISNEXT, Ross Electric Vehicles, SSI SCHAEFER, Taylor-Dunn, and others.

Industry News and Updates:

29-May-2019: Mitsubishi Fuso launches flagship heavy-duty truck in Australia and overseas markets 

Mitsubishi Fuso Truck and Bus Corporation (MFTBC; headquarters: Kawasaki City, Kanagawa Prefecture; President and CEO Hartmut Schick) launched the new heavy-duty truck at the Brisbane Truck Show in Brisbane, Australia on May 16, 2019.

The Fuso brand’s newest flagship truck, known as the Shogun in Australia and New Zealand, complies with Euro-VI emission standards and comes equipped with the OM470 11-liter common rail engine that allows for improved fuel efficiency in comparison to the previous model. It also features the 12-speed “ShiftPilot” automated manual transmission (AMT), which ensures a smooth drive unaffected by changes in cargo load or road conditions. Extensive tests covering nearly 50,000 km were conducted in Australia to confirm the vehicle’s fuel economy and the performance of its advanced safety features under local conditions.

Market Overview:

Industrial vehicles are vehicles that are used for different industrial purposes, such as loading, lifting, and movement of loads. For medium-distance movement of loads, powered vehicles such as lift trucks are used where the load is batched in parts in either a container or a pallet. In case of short-distance transport, manual or semi-powered carts are used. These vehicles are only capable of moving one load at a time from one place to another. However, there are multiple load transporters that can move more than one load at a time, from one or more sources to the preferred destination.

On The Basis of Types:

Forklifts

Tow tractors

Aisle trucks

Container handlers

On The Basis of End Users/Applications:

Industrial applications

Cargo applications

Regional analysis:

North America accounted for a market share of around 50% in 2020 and is estimated to register a CAGR of over 3% over the forecast period. Apart from the growing purchasing power of the population in North America, the region is also witnessing continued investments in infrastructure development. At the same time, the governments of North American countries are particularly focusing on having in-house automotive production. Digitization of trucks in line with the growing preference for connected trucks is expected to offer new business opportunities for key OEMs, including Volkswagen (MAN & Scania), Daimler AG, and Volvo. These OEMs are expected to invest aggressively in telematics solutions, thereby contributing to the growth of the regional market over the forecast period.

Influence of the Industrial Vehicles market report:

-Comprehensive assessment of all opportunities and risk in the Industrial Vehicles market.
-Industrial Vehicles market recent innovations and major events.
-Detailed study of business strategies for growth of the Industrial Vehicles market-leading players.
-Conclusive study about the growth plot of Industrial Vehicles market for forthcoming years.
-In-depth understanding of Industrial Vehicles market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Industrial Vehicles market.

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What Are the Market Factors That Are Explained in The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Global Industrial Vehicles Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

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