Market Overview:
The global industrial truck market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for industrial trucks in various end-use industries, such as automotive, food and beverage, metals and mining, and logistics. The pallet truck segment is expected to dominate the global industrial truck market during the forecast period due to its low cost and easy maneuverability. The tractor segment is projected to grow at a high CAGR during the forecast period owing to its growing demand from various end-use industries such as automotive and logistics.
Product Definition:
An industrial truck is a powered vehicle used to move materials within a factory or other industrial facility. Industrial trucks include forklifts, pallet jacks, and material handling carts. The use of industrial trucks can improve worker safety and efficiency by allowing them to move heavy loads without having to lift them manually.
Pallet truck:
Pallet truck is a specialized truck that is designed to carry pallets and other loaded materials in bulk. They are used for transportation of goods from one place to another with the help of loading and unloading units. The global market for pallet trucks has been experiencing significant growth over the past few years owing to increasing demand from various end-use industries such as food & beverages, consumer goods, automotive, pharmaceuticals among others.
Tractor:
Tractor is a vehicle used to transport goods by pulling the load itself. It is generally used to haul agricultural products such as crops, mining produce, and forest products. The global tractor market size spans various segments based on product type which include 2-wheelers, 4-wheelers and 6-wheelers among others. Tractors are available in different sizes with engines ranging from 1 ton to 16 tons depending upon the application type.
Application Insights:
Application I includes food and beverage, chemicals, pharmaceuticals, medical equipment and supplies, pulp and paper products. The chemical segment dominated the global industry with a revenue share of over 30% in 2017. It is expected to retain its dominance over the forecast period owing to high demand for chemicals across various industries including automotive and construction among other segments such as oil & gas.
The Asia Pacific region is projected to witness significant growth in Application II due to increasing manufacturing activities of consumer goods such as smartphones along with automobiles which are mainly manufactured in China Japan India South Korea.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 30% in terms of revenue and is anticipated to grow at a CAGR of XX% from 2018 to 2030 owing to increasing demand from application II industries such as food & beverage, retail, logistics, automotive, etc. In addition, rising investments by governments in developing countries are likely boost regional growth over the forecast period.
Growth Factors:
- Increasing demand for industrial trucks from the logistics and warehousing sector.
- Rising demand for electric industrial trucks owing to stringent emission norms by regulatory authorities across the globe.
- Proliferation of automated material handling systems in factories and warehouses, which is expected to boost the adoption of industrial trucks over the forecast period.
- Growing popularity of Industrial Truck leasing services among small and medium-sized businesses (SMBs).
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Truck Market Research Report
By Type
Pallet truck, Tractor, Lifting truck, Forklift truck, Others
By Application
Application I, Application II
By Companies
Toyota, KION, Jungheinrich, Hyster-Yale Materials Handling, Crown Equipment, Mitsubishi Nichiyu, UniCarriers Americas, Anhui Forklift Truck, Hangcha Group, Komatsu, Clark Material Handling, Doosan Industrial, Hyundai Heavy Industries, Lonking Forklift, Paletrans, Combilift, Tailift, Hubtex, Hytsu, Godrej & Boyce
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Truck Market Report Segments:
The global Industrial Truck market is segmented on the basis of:
Types
Pallet truck, Tractor, Lifting truck, Forklift truck, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Application I, Application II
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Toyota
- KION
- Jungheinrich
- Hyster-Yale Materials Handling
- Crown Equipment
- Mitsubishi Nichiyu
- UniCarriers Americas
- Anhui Forklift Truck
- Hangcha Group
- Komatsu
- Clark Material Handling
- Doosan Industrial
- Hyundai Heavy Industries
- Lonking Forklift
- Paletrans
- Combilift
- Tailift
- Hubtex
- Hytsu
- Godrej & Boyce
Highlights of The Industrial Truck Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Pallet truck
- Tractor
- Lifting truck
- Forklift truck
- Others
- By Application:
- Application I
- Application II
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Industrial Truck Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Industrial trucks are large, heavy vehicles used for transporting goods in factories and other industrial settings. They can be powered by diesel or gasoline engines, and typically have a payload of around 10,000 pounds.
Some of the major players in the industrial truck market are Toyota, KION, Jungheinrich, Hyster-Yale Materials Handling, Crown Equipment, Mitsubishi Nichiyu, UniCarriers Americas, Anhui Forklift Truck, Hangcha Group, Komatsu, Clark Material Handling, Doosan Industrial, Hyundai Heavy Industries, Lonking Forklift, Paletrans, Combilift, Tailift, Hubtex, Hytsu, Godrej & Boyce.
The industrial truck market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Industrial Truck Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Industrial Truck Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Industrial Truck Market - Supply Chain
4.5. Global Industrial Truck Market Forecast
4.5.1. Industrial Truck Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Industrial Truck Market Size (000 Units) and Y-o-Y Growth
4.5.3. Industrial Truck Market Absolute $ Opportunity
5. Global Industrial Truck Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Industrial Truck Market Size and Volume Forecast by Type
5.3.1. Pallet truck
5.3.2. Tractor
5.3.3. Lifting truck
5.3.4. Forklift truck
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Industrial Truck Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Industrial Truck Market Size and Volume Forecast by Application
6.3.1. Application I
6.3.2. Application II
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Industrial Truck Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Industrial Truck Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Industrial Truck Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Industrial Truck Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Industrial Truck Demand Share Forecast, 2019-2026
9. North America Industrial Truck Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Industrial Truck Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Industrial Truck Market Size and Volume Forecast by Application
9.4.1. Application I
9.4.2. Application II
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Industrial Truck Market Size and Volume Forecast by Type
9.7.1. Pallet truck
9.7.2. Tractor
9.7.3. Lifting truck
9.7.4. Forklift truck
9.7.5. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Industrial Truck Demand Share Forecast, 2019-2026
10. Latin America Industrial Truck Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Industrial Truck Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Industrial Truck Market Size and Volume Forecast by Application
10.4.1. Application I
10.4.2. Application II
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Industrial Truck Market Size and Volume Forecast by Type
10.7.1. Pallet truck
10.7.2. Tractor
10.7.3. Lifting truck
10.7.4. Forklift truck
10.7.5. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Industrial Truck Demand Share Forecast, 2019-2026
11. Europe Industrial Truck Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Industrial Truck Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Industrial Truck Market Size and Volume Forecast by Application
11.4.1. Application I
11.4.2. Application II
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Industrial Truck Market Size and Volume Forecast by Type
11.7.1. Pallet truck
11.7.2. Tractor
11.7.3. Lifting truck
11.7.4. Forklift truck
11.7.5. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractivness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Industrial Truck Demand Share, 2019-2026
12. Asia Pacific Industrial Truck Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Industrial Truck Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Industrial Truck Market Size and Volume Forecast by Application
12.4.1. Application I
12.4.2. Application II
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Industrial Truck Market Size and Volume Forecast by Type
12.7.1. Pallet truck
12.7.2. Tractor
12.7.3. Lifting truck
12.7.4. Forklift truck
12.7.5. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Industrial Truck Demand Share, 2019-2026
13. Middle East & Africa Industrial Truck Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Industrial Truck Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Industrial Truck Market Size and Volume Forecast by Application
13.4.1. Application I
13.4.2. Application II
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Industrial Truck Market Size and Volume Forecast by Type
13.7.1. Pallet truck
13.7.2. Tractor
13.7.3. Lifting truck
13.7.4. Forklift truck
13.7.5. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Industrial Truck Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Industrial Truck Market: Market Share Analysis
14.2. Industrial Truck Distributors and Customers
14.3. Industrial Truck Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Toyota
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. KION
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Jungheinrich
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Hyster-Yale Materials Handling
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Crown Equipment
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Mitsubishi Nichiyu
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. UniCarriers Americas
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Anhui Forklift Truck
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Hangcha Group
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Komatsu
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Clark Material Handling
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Doosan Industrial
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Hyundai Heavy Industries
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Lonking Forklift
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Paletrans
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Combilift
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Tailift
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Hubtex
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Hytsu
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Godrej & Boyce
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
