Global Industrial Vehicles Market Information Report by Product type (Forklift, Tow Tractor, Aisle Truck, Container Handler, Others), by drive type (Internal Combustion Engine, Battery-Operated, Gas-Powered and Others), By Application (Industrial, Cargo and Others) and By Region – Global Forecast To 2022
The global industrial vehicles market is expected to witness rapid growth, owing to the increased industrialization and the setting up of warehouses in sectors such as e-commerce and manufacturing. The ability of industrial vehicles to reduce the costs of the company such as labor cost, wastage cost caused by mishandling of materials and other related overheads, is also driving the industrial vehicle market. The manufacturing of customized industrial vehicles according to the need of the end-user industry is further driving the use of industrial vehicles by various warehouses and e-commerce stores. The growth of this market can be restrained by the huge cost of acquisition of the industrial vehicles.
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Market Research Analysis
Based on the drive types, the battery operated industrial vehicle segment is expected to be the highest growing segment. The battery operated industrial vehicles are widely adopted as they are environment friendly, efficient and reliable. Small warehouses greatly adopt battery operated industrial vehicles due to their compactness. Battery operated industrial vehicles overcome the disadvantages of traditional vehicles such as gas-powered and internal combustion engine-driven industrial vehicles which further helps in the growth of battery operated industrial vehicles.
Asia-Pacific region is expected to dominate the industrial vehicles market with the highest CAGR. This will be followed by the Europe region. The industrial vehicle manufacturers of this region are investing heavily in R&D for development of more advanced industrial vehicles, which is further driving the demand of the industrial vehicle market of the Europe region.
Scope of the Report
This study provides an overview of the Global industrial vehicle market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global industrial vehicle Market by its product type, drive type, application and region.
By Product type: Forklift, Tow Tractor, Aisle Truck, Container Handler, Others
By drive type: Internal Combustion Engine, Battery-Operated, Gas-Powered, Others
By Application: Industrial, Cargo, Others
By Region: North America, Asia Pacific, Europe, Rest of the World
The key players of Industrial vehicles market are Anhui Heli Co. Ltd (China), Crown Equipment Corporation (U.S.), Hangcha Group Co. Ltd. (China), Hyster-Yale Materials Handling, Inc.(U.S.), Jungheinrich AG (Germany), Kion Group AG (Germany), Konecranes plc (Finland), Mitsubishi Nichiyu Forklift Co. Ltd. (Japan), Toyota Industries Corporation (Japan) and others.
Regional Analysis of Industrial Vehicle Market
Asia pacific is expected to be the largest region of global industrial vehicle market with the high growth of the automobile sector in the developing nations of the region. The rapid industrialization in the region is leading to the increase in need of using industrial vehicles for better transportation of finished goods & raw materials and its storage at warehouses. The growth will be followed by the North America and the Europe region as the concept of driverless industrial vehicles is gaining popularity in the region which has led to cost efficiency.
The report for Industrial vehicles market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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