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Industrial Vehicle Market Size, Share, Growth, Trends, Analysis And Forecast 2023-2032
Industrial Vehicle Market Report
The Business Research Company's Industrial Vehicle Global Market Report 2023 identifies the growing e-commerce industry as the major driver for the industrial vehicle market's growth in the forecast period. E-commerce refers to buying and selling goods and services and sending money or data through an electronic network, often the Internet. With the surge in online orders, logistics companies are expanding their vehicle fleets to meet the increasing delivery volumes. Industrial vehicles are essential for the efficient and timely transportation of goods, ensuring customer satisfaction in the e-commerce sector.
The global industrial vehicle market is expected to grow from $43.21 billion in 2022 to $46 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services affecting many markets across the globe. The industrial vehicle market is expected to reach $56.98 billion in 2027 at a CAGR of 5.5%.
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Major competitors in the industrial vehicle market are John Deere, Komatsu Ltd., Toyota Industries Corporation, Faurecia, Lear Corp.,
A key trend in the industrial vehicle market includes technological advancements. Major companies operating in the industrial vehicle market are adopting new technologies to sustain their position in the market. For instance, in November 2022, Schäffer Maschinenfabrik GmbH, a Germany-based industrial machinery manufacturing company specializing in industrial vehicles, launched the Schäffer 23e T, an electric-drive telescopic wheel loader. The 23e T is a telescopic version of the 23e yard loader, featuring a powerful 31.3 kWh battery that provides up to eight hours of continuous work and an efficiency of over 90%, around three times that of a fuel-powered machine. Additionally, maintenance is drastically reduced because it doesn't need fuel or fuel filters.
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The industrial vehicle market is segmented -
•By Product Type: Forklift, Tow Tractor, Aisle Truck, Container Handler
•By Drive Type: Internal Combustion Engine (ICE), Battery-Operated, Gas-Powered
•By Level of Autonomy: Non Or Semi-Autonomous, Autonomous
•By Application: Manufacturing, Warehousing, Freight And Logistics, Other Applications
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the industrial vehicle market.
The Business Research Company's "Global Industrial Vehicle 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 Vehicle Market Include:
1. Executive Summary
2. Industrial Vehicle Market Characteristics
3. Industrial Vehicle Market Trends And Strategies
4. Industrial Vehicle Market - Macro Economic Scenario
5. Global Industrial Vehicle Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
……
32. Global Industrial Vehicle Market Competitive Benchmarking
33. Global Industrial Vehicle Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industrial Vehicle Market
35. Industrial Vehicle Market Future Outlook and Potential Analysis
36. Appendix
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