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Industrial Trucks Market

Publisher Global Market Insights
Published Nov 07, 2024
Length 178 Pages
SKU # GMI19407258

Description

Industrial Trucks Market


Global Industrial Trucks Market was valued at USD 27.1 billion in 2023 and is estimated to register a CAGR of over 5.5% between 2024 and 2032, driven by innovative features introduced by leading companies. These new features include advanced automation, telematics integration, and enhanced safety technologies aimed at improving efficiency and reducing operational costs. Autonomous capabilities, such as self-driving and remote operation functionalities, are revolutionizing industrial logistics by optimizing material handling processes. Telematics systems provide real-time data on truck performance and maintenance needs, optimizing fleet management strategies. For instance, in November 2023, the KION Group introduced its fuel cell systems for industrial trucks, marking a significant development in intralogistics technology. This global company launched a 24-volt system specifically designed for warehouse trucks, with the capacity to produce up to 5,000 fuel cell systems annually at its new production line in Hamburg.

Moreover, ergonomic designs and eco-friendly initiatives, such as electric and hybrid models, are gaining traction to meet sustainability goals. As industries embrace digital transformation and seek to streamline warehouse and distribution operations, the demand for industrial trucks with cutting-edge features continues to grow. These advancements not only enhance productivity but also ensure safer working environments, driving the evolution of the Industrial Trucks Market globally.

The overall Industrial Trucks Industry size is classified based on the type, propulsion, operator type, end-use, and region.

The Industrial Trucks Market is experiencing increasing demand for electric propulsion systems due to their environmental benefits and operational efficiency. Electric industrial trucks offer lower emissions, reduced noise levels, and lower operating costs compared to traditional diesel or gas-powered trucks. They are particularly favored in indoor environments and urban areas where emissions regulations are strict. As industries worldwide prioritize sustainability and seek to minimize their carbon footprint, the adoption of electric propulsion in industrial trucks continues to grow. Innovations in battery technology and charging infrastructure further enhance the appeal of electric trucks, driving market expansion and supporting the shift towards cleaner and more efficient logistics operations.

The Industrial Trucks Market is seeing significant demand from the food and beverage sector, driven by the need for efficient material handling solutions. Industrial trucks, including forklifts and pallet trucks, are crucial in warehouse management and distribution within food processing and beverage manufacturing facilities. These trucks are essential for moving raw materials, finished products, and packaging efficiently and safely. As the industry emphasizes food safety, hygiene, and operational efficiency, there is a growing preference for trucks with advanced features like food-grade materials, ergonomic designs, and compliance with regulatory standards. This sector-specific demand fuels innovation in industrial truck technologies tailored to the unique requirements of food and beverage handling operations.

Europe Industrial Trucks Market is experiencing robust demand driven by industrial automation and logistics efficiency initiatives. European industries rely heavily on industrial trucks for material handling across diverse sectors, including manufacturing, logistics, and retail. With stringent safety and environmental regulations, there is a growing preference for electric and hybrid trucks to reduce emissions and operational costs. Additionally, advanced features such as telematics integration and autonomous capabilities are gaining traction to optimize warehouse and distribution operations. As Europe continues prioritizing sustainable practices and digital transformation in industrial settings, the demand for innovative and efficient industrial trucks remains strong, supporting market growth and technological advancement.

Table of Contents

178 Pages
Chapter 1 Research Methodology
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for shipment estimates
1.2.3 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.1.3 Primary sources
1.1.4 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Global industrial trucks industry 360° synopsis, 2021 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2024 - 2032
2.2.1.1 Total Addressable Market (TAM) trends
2.3 Regional trends
2.4 Class trends
2.5 Type trends
2.6 Propulsion trends
2.7 Operator type trends
2.8 End-user industry trends
Chapter 3 Industry Insights
3.1 Industry ecosystem
3.1.1 Raw material supplier
3.1.2 Component suppliers
3.1.3 Manufacturers
3.1.4 Dealer and distributors
3.1.5 Service providers
3.1.6 End users
3.2 Supplier landscape
3.2.1 Supplier landscape
3.3 Technology and innovation landscape 3.3.1 Telematics software
3.3.2 Advanced Driver Assistance Systems
3.3.3 Load Weight Indicators (LWI)
3.3.4 Integrated GPS system
3.3.5 Safety cameras
3.4 Key news and initiatives
3.5 Patent analysis
3.6 Regulatory landscape
3.6.1 North America
3.6.1.1 Federal Motor Carrier Safety Administration (FMCSA) regulations:
3.6.1.2 National Highway Traffic Safety Administration (NHTSA)
3.6.1.3 Occupational health and safety regulations
3.6.2 Europe
3.6.2.1 Lifting Operations and Lifting Equipment Regulations (LOLER) 1998:
3.6.2.2 German Industrial Safety Regulation (BetrSichV)
3.6.2.3 Directive Européenne sur les Émissions (European Emissions Directive)
3.6.2.4 Safety and equipment regulations
3.6.2.5 Emission Requirements Regulation:
3.6.2.6 Occupational Safety and Health Act:
3.6.3 Asia Pacific
3.6.3.1 GB 7258-2017: Safety Specifications for Power-driven Vehicles Operating on Roads
3.6.3.2 Safety Regulations for Industrial Vehicles
3.6.3.3 Regulation on the Safety Management of Industrial Vehicles
3.6.3.4 Work Health and Safety Act (WHS Act)
3.6.3.5 Ministerial Regulation on Motor Vehicle Safety Standards (No. 16) B.E. 2553 (2010)
3.6.4 Latin America
3.6.4.1 CONAMA Resolution No. 430/2011
3.6.4.2 NOM-044-SCT2-2014:
3.6.4.3 Ley de Protección Ambiental (Environmental Protection Law)
3.6.5 MEA
3.6.5.1 Federal Law No. 21 of 1995 (Traffic Law):
3.6.5.2 National Road Traffic Act (Act No. 93 of 1996):
3.6.5.3 Saudi Arabian Standards Organization (SASO) Regulations:
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Growing demand for e-commerce and warehousing across the globe
3.7.1.2 Increasing automation and Industry
4.0 adoption
3.7.1.3 . Expansion of manufacturing and construction sectors
3.7.1.4 . Labor shortages and workforce challenges in developed countries
3.7.2 Industry pitfalls and challenges
3.7.2.1 High maintenance costs of industrial trucks
3.7.2.2 Supply chain disruptions
3.8 Product development and Innovation strategy
3.8.1 Toyota Industries Corporation
3.8.2 KION Group AG
3.8.3 Jungheinrich AG
3.8.4 Mitsubishi Logisnext Co., Ltd.
3.8.5 Crown Equipment Corp.
3.8.6 Hyster-Yale Materials Handling, Inc
3.8.7 Komatsu Ltd.
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Industrial Trucks Market, By Class
5.1 Key trends
5.2 Class 1: electric motor rider trucks
5.3 Class 2: electric motor narrow aisle trucks
5.4 Class 3: electric motor hand trucks
5.5 Class 4: internal combustion engine trucks (solid cushion tires)
5.6 Class 5: internal combustion engine trucks (pneumatic tires)
5.7 Class 6: electric and internal combustion engine tractors
5.8 Rough terrain forklift trucks
Chapter 6 Industrial Trucks Market, By Type
6.1 Key trends
6.2 AGVs
6.3 Hand, platform, and pallet trucks
6.4 Order pickers
6.5 Turret trucks
6.6 Side-loaders
6.7 Walkie stackers
Chapter 7 Industrial Trucks Market, By Propulsion
7.1 Key trends
7.2 ICE
7.3 Electric
Chapter 8 Industrial Trucks Market, By Operator Type
8.1 Key trends
8.2 Manual
8.3 Semi-automated
8.4 Fully automated
Chapter 9 Industrial Trucks Market, By End-user Industry
9.1 Key trends
9.2 Food & beverage
9.3 Automotive
9.4 Retail & e-commerce
9.5 Construction & mining
9.6 Manufacturing
9.7 Pharmaceuticals
9.8 Logistics & warehousing
9.9 Others
Chapter 10 Industrial Trucks Market, By Region
10.1 Key trends
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Latin America
10.6 MEA
Chapter 11 Company Profiles
11.1 Anhui Heli Co., Ltd.
11.1.1 Global Overview
11.1.2 Market/Business Overview
11.1.3 Financial Data
11.1.3.1 Sales Revenue, 2022-2024
11.1.4 Product Landscape
11.1.5 SWOT Analysis
11.2 BYD Company Limited
11.2.1 Global Overview
11.2.2 Market/Business Overview
11.2.3 Financial Data
11.2.3.1 Sales Revenue, 2021-2023
11.2.4 Product Landscape
11.2.5 Strategic Outlook
11.2.6 SWOT Analysis
11.3 Clark Material Handling Company
11.3.1 Global Overview
11.3.2 Market/Business Overview
11.3.3 Financial Data
11.3.4 Product Landscape
11.3.5 Strategic Outlook
11.3.6 SWOT Analysis
11.4 Combilift Ltd.
11.4.1 Global Overview
11.4.2 Market/Business Overview
11.4.3 Financial Data
11.4.4 Product Landscape
11.4.5 Strategic Outlook
11.4.6 SWOT Analysis
11.5 Crown Equipment Corporation
11.5.1 Global Overview
11.5.2 Market/Business Overview
11.5.3 Financial Data
11.5.4 Product Landscape
11.5.5 Strategic Outlook
11.5.6 SWOT Analysis
11.6 Doosan Group
11.6.1 Global Overview
11.6.2 Market/Business Overview
11.6.3 Financial Data
11.6.3.1 Sales Revenue, 2020-2023
11.6.4 Product Landscape
11.6.5 Strategic Outlook
11.6.6 SWOT Analysis
11.7 EP Equipment Co., Ltd.
11.7.1 Global Overview
11.7.2 Market/Business Overview
11.7.3 Financial Data
11.7.4 Product Landscape
11.7.5 Strategic Outlook
11.7.6 SWOT Analysis
11.8 Godrej & Boyce Manufacturing Company Limited
11.8.1 Global Overview
11.8.2 Market/Business Overview
11.8.3 Financial Data
11.8.3.1 Sales Revenue, 2020-2023
11.8.4 Product Landscape
11.8.5 Strategic Outlook
11.8.6 SWOT Analysis
11.9 Hangcha Group Co. Ltd.
11.9.1 Global Overview
11.9.2 Market/Business Overview
11.9.3 Financial Data
11.9.3.1 Sales Revenue, 2021-2023
11.9.4 Product Landscape
11.9.5 Strategic Outlook
11.9.6 SWOT Analysis
11.10 Hyster-Yale Materials Handling, Inc.
11.10.1 Global overview
11.10.2 Market/Business overview
11.10.3 Financial data
11.10.3.1 Sales revenue, 2021-2023
11.10.4 Product landscape
11.10.5 Strategic outlook
11.10.6 SWOT analysis
11.11 Hyundai Heavy Industries Co., Ltd.
11.11.1 Global overview
11.11.2 Market/Business overview
11.11.3 Financial data
11.11.3.1 Sales revenue, 2021-2023
11.11.4 Product landscape
11.11.5 Strategic outlook
11.11.6 SWOT analysis
11.12 Jungheinrich AG
11.12.1 Global overview
11.12.2 Market/Business overview
11.12.3 Financial data
11.12.3.1 Sales revenue, 2021-2023
11.12.4 Product landscape
11.12.5 Strategic outlook
11.12.6 SWOT analysis
11.13 KION Group AG
11.13.1 Global overview
11.13.2 Market/Business overview
11.13.3 Financial data
11.13.3.1 Sales revenue, 2021-2023
11.13.4 Product landscape
11.13.5 Strategic outlook
11.13.6 SWOT analysis
11.14 Komatsu Ltd.
11.14.1 Global overview
11.14.2 Market/Business overview
11.14.3 Financial data
11.14.3.1 Sales revenue, 2021-2023
11.14.4 Product landscape
11.14.5 SWOT analysis
11.15 Lonking Holdings Limited
11.15.1 Global overview
11.15.2 Market/Business overview
11.15.3 Financial data
11.15.3.1 Sales revenue, 2021-2023
11.15.4 Product landscape
11.15.5 SWOT analysis
11.16 Manitou Group
11.16.1 Global overview
11.16.2 Market/Business overview
11.16.3 Financial data
11.16.3.1 Sales revenue, 2021-2023
11.16.4 Product landscape
11.16.5 SWOT analysis
11.17 Mitsubishi Logisnext Co., Ltd.
11.17.1 Global overview
11.17.2 Market/Business overview
11.17.3 Financial data
11.17.3.1 Sales revenue, 2021-2023
11.17.4 Product landscape
11.17.5 SWOT analysis
11.18 Paletrans Equipment Ltd.
11.18.1 Global Overview
11.18.2 Market/Business Overview
11.18.3 Financial Data
11.18.4 Product Landscape
11.18.5 SWOT analysis
11.19 Sellick Equipment Ltd.
11.19.1 Global overview
11.19.2 Market/Business overview
11.19.3 Financial data
11.19.4 Product landscape
11.19.5 SWOT analysis
11.20 Toyota Industries Corporation
11.20.1 Global overview
11.20.2 Market/Business overview
11.20.3 Financial data
11.20.3.1 Sales revenue, 2021-2023
11.20.4 Product landscape
11.20.5 SWOT analysis

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