| Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 26.52 Billion | USD 86.90 Billion | 12.6% | 2024 |
FrequentlyAsked Questions
Industrial vehicles are nothing but motor vehicles that are specially designed for the transportation of goods and logistics purposes between warehouse distribution centers to the stores that contain finished inventory.
The global industrial vehicle market is expected to grow due to Rising automation in logistics, manufacturing, and warehousing sectors fuels demand. E-commerce growth and electrification trends also support market expansion.
According to a study, the global industrial vehicle market size was worth around USD 26.52 Billion in 2024 and is expected to reach USD 86.90 Billion by 2034.
The global industrial vehicle market is expected to grow at a CAGR of 12.6% during the forecast period.
Asia-Pacific is expected to dominate the industrial vehicle market over the forecast period.
Leading players in the global industrial vehicle market include Crown Equipment Corporation, Anhui Heli Co. Ltd, Hangcha Forklift, Hyster-Yale Group, Inc., Kion Group AG, Jungheinrich AG, Konecranes, MITSUBISHI HEAVY INDUSTRIES, LTD., Toyota Industries Corporation, C. & J. Clark International, Doosan Corporation, Manitou Group, CARGOTEC CORPORATION, Daifuku Co., Ltd, SSI Schaefer Systems SA (Pty), Hyundai Construction Equipment Europe and Polaris Inc. among others., among others.
The report explores crucial aspects of the industrial vehicle market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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