Industrial Vehicle Market Size, Share & Trends Analysis Report By Product

The Business Research Company

The Business Research Company's Industrial Vehicle Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, October 16, 2025 /EINPresswire.com/ -- What Is The Industrial Vehicle Market Size And Growth?
There has been a stable growth in the industrial vehicle market size over the past few years. The market value is projected to increase from $48.18 billion in 2024 to $50.11 billion in 2025, with a compound annual growth rate (CAGR) of 4.0%. The surge in the historical period can be linked to factors like manufacturing and industrial development, the growth of e-commerce, emphasis on safety and regulatory adherence, globalization of supply chains, and an increased focus on energy optimization.

In the upcoming years, the size of the industrial vehicle market is predicted to witness robust expansion, projected to reach $61.95 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.4%. The predicted rise over the forecast period can be linked back to the emergence of e-commerce fulfillment centers, increased uptake of electric vehicles, resilience of the supply chain, sector-specific customizations, and the incorporation of IoT and telematics. Significant trends anticipated in the forecast period involve autonomous and semi-autonomous vehicles, solutions for predictive maintenance, collaboration between humans and machines, integration of robotics, and a heightened emphasis on ergonomics.

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What Are The Current Leading Growth Drivers For Industrial Vehicle Market?
The expansion of the e-commerce sector is predicted to fuel the industrial vehicle market's growth in the future. Essentially, e-commerce is the process of purchasing and selling products and services and transferring money or data through a digital network, usually the internet. The rise in online shopping has led logistics firms to increase their vehicle fleets to manage escalating delivery volumes. Industrial vehicles are crucial for transporting products efficiently and promptly, thereby ensuring customer satisfaction in the e-commerce industry. For example, as reported by the International Trade Administration, a US-based department of commerce, in September 2022, consumer e-commerce in the UK rose by 30% of the UK's total retail sector, generating an annual e-commerce revenue exceeding $120 billion. Consequently, the expanding e-commerce sector is boosting the industrial vehicle market's growth.

Which Companies Are Currently Leading In The Industrial Vehicle Market?
Major players in the Industrial Vehicle include:

• Toyota Industries Corporation
• KION Group AG
• Jungheinrich AG
• Mitsubishi Logisnext Co. Ltd.
• Crown Equipment Corporation
• Hyster-Yale Materials Handling Inc.
• Doosan Corporation
• Anhui Heli Co. Ltd.
• Komatsu Ltd.
• Clark Material Handling Company

What Are The Main Trends, Positively Impacting The Growth Of Industrial Vehicle Market?
A significant trend emerging in the industrial vehicle market is the uptake of technology advancements. To maintain market dominance, leading enterprises within this sector are harnessing new technologies. In November 2022, for instance, Schäffer Maschinenfabrik GmbH, noted for its expertise in industrial vehicle manufacturing, introduced the Schäffer 23e T, an electric-drive telescopic wheel loader. The 23e T, a telescopic adaptation of their 23e yard loader, boasts a potent 31.3 kWh battery that offers up to eight hours of non-stop operation and an over 90% efficiency rate, approximately threefold the efficiency of a traditional fuel-powered machine. The need for maintenance is substantially diminished since it removes the requirement for fuel or fuel filters.

How Is The Industrial Vehicle Market Segmented?
The industrial vehiclemarket covered in this report is segmented –

1) By Product Type: Forklift, Tow Tractor, Aisle Truck, Container Handler
2) By Drive Type: Internal Combustion Engine (ICE), Battery-Operated, Gas-Powered
3) By Level of Autonomy: Non Or Semi-Autonomous, Autonomous
4) By Application: Manufacturing, Warehousing, Freight And Logistics, Other Applications

Subsegments:
1) By Forklift: Electric Forklifts, Internal Combustion Forklifts, Reach Trucks, Pallet Jacks
2) By Tow Tractor: Electric Tow Tractors, Internal Combustion Tow Tractors, Heavy-Duty Tow Tractors
3) By Aisle Truck: Narrow Aisle Trucks, Very Narrow Aisle Trucks, Order Pickers
4) By Container Handler: Straddle Carriers, Reach Stackers, Rubber-Tired Gantry (RTG) Cranes

View the full industrial vehicle market report:
https://www.thebusinessresearchcompany.com/report/industrial-vehicle-global-market-report

Which Is The Dominating Region For The Industrial Vehicle Market?
In 2024, North America dominated the industrial vehicle market, and Asia-Pacific is predicted to experience the most rapid growth in the future. The market report for industrial vehicles encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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