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Industrial Truck Market Size, Share, Trends Analysis, Growth Rate And Overview By 2032
Industrial Truck Market Analysis
The Business Research Company's Industrial Truck Global Market Report 2023 identifies growth of the e-commerce industry as the major driver for the industrial truck market's growth in the forecast period. E-commerce refers to the activity of buying and selling goods through the internet. Product transport and warehousing are the most important part of e-commerce. As the e-commerce industry is growing, the demand for proper warehousing specialties such as forklift operators and forklifts also increases.
The global industrial truck market size is expected to grow from $24.00 billion in 2022 to $25.19 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global industrial truck market is expected to grow to $30.05 billion in 2027 at a CAGR of 4.5%.
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Major competitors in the industrial truck market are Combilift Material Handling Solutions, Doosan Corporation, Crown Equipment Corporation, Caterpillar Inc., Kion Group AG, Toyota Industries Corporation.
A key trend in the industrial truck market includes product innovations. Major companies in the market are introducing innovative products to sustain their position in the market. For instance, in May 2022, Hyster-Yale Materials Handling, Inc., a US-based designer, and manufacturer of lift trucks, launched new A Series lift trucks. The new trucks are designed using A+Logic, which is a set of features that helps to fine-tune the truck as per their needs. These trucks are highly configurable and have industry-leading fuel economy, and are fitted with robust components.
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The industrial truck market is segmented -
1) By Type: Pallet Truck, Lifting Truck, Forklift Truck, Platform Truck, Other Types
2) By Power: Fuel Operated, Electric Operated
3) By Application: Mining Application, Logistics Application, Construction Application, Other Applications
4) By End-Use Industry: Aviation Industry, Construction Industry, Manufacturing Industry, Transport And Shipping Industry
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the industrial truck market.
The Business Research Company's "Global Industrial Truck Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Industrial Truck Market Include:
1. Executive Summary
2. Industrial Truck Market Characteristics
3. Industrial Truck Market Trends And Strategies
4. Industrial Truck Market - Macro Economic Scenario
5. Industrial Truck Market Size And Growth
………
26. Africa Industrial Truck Market
27. Industrial Truck Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Industrial Truck Market
29. Industrial Truck Market Future Outlook and Potential Analysis
30. Appendix
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