Global Industrial Truck Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 26, 2024 /EINPresswire.com/ -- The industrial truck market has experienced robust growth in recent years, expanding from $24.72 billion in 2023 to $25.94 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to demand from diverse industries, industrialization and manufacturing growth, efficiency and productivity demands, safety and ergonomics, global supply chain expansion.

What Is The Estimated Market Size Of The Global Industrial Truck Market And Its Annual Growth Rate?
The industrial truck market is projected to continue its strong growth, reaching $31.68 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to safety and ergonomics enhancements, global trade and logistics growth, adoption of robotics and AI, efficiency and productivity improvements, expansion of manufacturing sectors.

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Growth Driver Of The Industrial Truck Market
The increasing adoption of automation is expected to propel the growth of the industrial truck market in the coming years. Automation is the use of technology to do activities with minimum human input, eliminating the need for manual involvement in different operations, and includes a broad range of technologies and applications, including cybersecurity, process measurement and control, sensors, wireless applications, robotics, expert systems, telemetry, communications, electro-optics, and systems integration. Automation in industrial trucks can serve to relieve people of hazardous job stressors and occupational injuries, raise productivity and efficiency, and boost automobile manufacturing efficiency and speed.

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Which Market Players Are Steering the Industrial Truck Market Growth?
Key players in the market include Combilift Material Handling Solutions, Doosan Corporation, Crown Controls Corp., Caterpillar Inc., Kion Group AG, Toyoda Automatic Loom Works Ltd., Mitsubishi Nichiyu Forklift Co. Ltd., Clark Material Handling Co. Ltd., Hangcha Group Co. Ltd., Anhui Heli Co. Ltd., Hyster-Yale Materials Handling Inc., Jungheinrich AG, Komatsu Ltd., Dearborn Mid-West Company LLC, UniCarriers Americas Corporation, Lonking Forklift Company Ltd., HD Hyundai Co Ltd., Nissan Forklift Corp., TCM Limited, Sanyo Electric Co. Ltd., The Liebherr Group, CNH Industrial, Volvo Group, Eaton Corporation PLC, GE Power Conversion, ASEA Brown Boveri, Siemens AG, Kawasaki Heavy Industries Ltd., Sumitomo Corporation, Toshiba Corporation, Hitachi Ltd.

What Are the Dominant Trends in Industrial Truck Market Overview?
Major companies in the market are introducing innovative products to sustain their position in the market. For instance, in May 2022, Hyster-Yale Materials Handling, Inc., a US-based designer, and manufacturer of lift trucks, launched new A Series lift trucks. The new trucks are designed using A+Logic, which is a set of features that helps to fine-tune the truck as per their needs. These trucks are highly configurable and have industry-leading fuel economy, and are fitted with robust components.

How Is The Global Industrial Truck Market Segmented?
1) By Type: Pallet Truck, Lifting Truck, Forklift Truck, Platform Truck, Other Types
2) By Power: Fuel Operated, Electric Operated
3) By Application: Mining Application, Logistics Application, Construction Application, Other Applications
4) By End-Use Industry: Aviation Industry, Construction Industry, Manufacturing Industry, Transport And Shipping Industry

Geographical Insights: Asia-Pacific Leading The Industrial Truck Market
Asia-Pacific was the largest region in the market share in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Industrial Truck Market Definition
Industrial trucks are specialized goods carriers that are designed to carry materials within a factory. It is specially made for extra flexibility in movement across the factory. These trucks use mechanized pickup and de-loading.

Industrial Truck Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global industrial truck market report covering trends, opportunities, strategies, and more
The Industrial Truck Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on industrial truck market size, industrial truck market drivers and trends, industrial truck market major players and industrial truck market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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