Industrial Vehicle Market Set to Hit $76.5 Billion by 2031, Reports AMR : Unveiling Key Drivers and Trends

Industrial Vehicle Market Share

OREGAON, PORTLAND, UNITED STATES , August 1, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Industrial vehicles Market by Drive Type (ICE, Battery-operated, and Gas-Powered), Level of Autonomy (Non/Semi-Autonomous and Autonomous), and Application (Manufacturing, Warehousing, Freight and Logistics, Others): Global Opportunity Analysis and Industry Forecast, 2021- 2031". According to the report, the global Industrial vehicles industry generated $45.11 billion in 2021 and is anticipated to generate $76.45 billion by 2031, witnessing a CAGR of 5.6% from 2022 to 2031.

🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/2881

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

Anhui Heli Co., Ltd.
Cargotec Corporation
CLARK MATERIAL HANDLING
Crown Equipment Corporation
Hangcha Forklift
Jungheinrich AG
Kion Group AG
Komatsu Ltd.
Mitsubishi Logisnext Co., Ltd.
Toyota Industries Corporation

𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡

A surge in demand for industrial vehicles in various industries, reduction of labor costs in organizations, and production of hydrogen fuel cell forklifts are the major factors that propel the industrial vehicles market growth. However, the increase in safety issues related to forklift trucks and other industrial vehicles, and high initial investment and installation costs are the major factors that hamper the growth of the market. Moreover, the rise in demand for autonomous industrial vehicles, incorporation of industry 4.0., and rise in demand for battery-operated industrial vehicles are the factors expected to offer growth opportunities during the forecast period.

𝐓𝐡𝐞 𝐈𝐂𝐄 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on the drive type, the ICE segment held the highest market share in 2021, accounting for more than half of the global Industrial vehicles market, and is estimated to maintain its leadership status throughout the forecast period. Growing uses of ICE engine vehicles in towing applications and increasing demand for ICE container handles in the warehouse and material handling divisions are expected to propel the demand for the ICE segment in the forecast period. However, the battery-operated segment is projected to manifest the highest CAGR of 6.1% from 2022 to 2031.

𝐓𝐡𝐞 𝐧𝐨𝐧- 𝐨𝐫 𝐬𝐞𝐦𝐢-𝐚𝐮𝐭𝐨𝐧𝐨𝐦𝐨𝐮𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on the level of autonomy, the non- or semi-autonomous segment held the highest market share in 2021, accounting for more than 80% of the global Industrial vehicles market, and is estimated to maintain its leadership status throughout the forecast period. The large share of this segment is mainly attributed to the growing need for safer and more efficient drive systems which is driving the development and adoption of semi-autonomous industrial vehicles. Also, the semi-autonomous vehicle offers greater driving control and driver safety which is expected to offer promising growth opportunities during the forecast period. However, the autonomous segment is projected to manifest the highest CAGR of 7.0% from 2022 to 2031.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/industrial-vehicle-market/purchase-options

𝐓𝐡𝐞 𝐦𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on the application, the manufacturing segment accounted for the largest share in 2021, contributing to more than 50% of the global Industrial vehicles market, and is projected to maintain its lead position during the forecast period. This is attributed to the fact that the manufacturing sector or industry requires a complete range of lifting and loading trucks and attachments for truck, train, and barge handling. Industrial vehicles are optimized by the manufacturing industry's need to lift materials in a safe and agile manner. However, the freight and logistics segment is expected to portray the largest CAGR of 6.7% from 2022 to 2031.

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟏

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global Industrial vehicles market, and is likely to dominate the market during the forecast period. The rise in the adoption of industrial robots in automotive, e-commerce, food & beverages, and pharmaceuticals & healthcare industries in emerging economies such as China, India, and South Korea contributes to the growth of the industrial vehicles market in the region. Moreover, the same region is expected to witness the fastest CAGR of 6.3% from 2022 to 2031.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By drive type, the ICE segment is anticipated to exhibit significant growth in the near future.
By Level of autonomy, the non/semi-autonomous system segment is anticipated to exhibit significant growth in the near future.
By application, the manufacturing segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/2881

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/autonomous-forklift-market-A09607 - Global Opportunity Analysis and Industry Forecast, 2021-2031

https://www.alliedmarketresearch.com/forklift-truck-market - Global Opportunity Analysis and Industry Forecast, 2021-2031

https://www.alliedmarketresearch.com/autonomous-mining-truck-market-A09608 - Global Opportunity Analysis and Industry Forecast, 2025-2035

https://www.alliedmarketresearch.com/dump-truck-market-A08764 - Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
+1 800-792-5285
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