The industrial truck market is fragmented on a global scale and is predicted to grow at a CAGR of 6% from 2020 to 2030.
Industrial vehicles are used to transport materials inside of factories or warehouses. The COVID-19 outbreak has tragically had a considerable influence on the viability of micro, small, and large-scale manufacturing firms, as evidenced by the decline in industrial vehicle sales.
However, a quick return to manufacturing is predicted to lead to a considerable increase in industrial truck sales, reaching to US$37 billion by the end of 2030.
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Counterbalanced lift trucks will continue to be in the lead with 20% of global sales. In every industry vertical, these trucks are generally utilised to hoist heavyweights. The bulk of micro firms and smaller organisations still use manual industrial trucks to carry weights since they are significantly less expensive.
The research offers a macroeconomic and corporate outlook of the market for industrial trucks. Industry experts make suggestions in this study that will prepare the market’s participants for a better future.
By making up 20% of global sales, counterbalanced lift trucks will continue to lead the way. These trucks are primarily used to lift heavyweights in every industry vertical. Because they are substantially less expensive, manual industrial trucks are still used by the majority of micro enterprises and smaller businesses to lift weights.
Large businesses are also quickly implementing automated technologies to minimise their personnel and boost productivity. Additionally, enterprises are using automated guided vehicles to cut utility costs and improve workplace safety. The automated guided vehicles (AGV) segment is expected to expand at a fantastic CAGR of 15% as a result. The estimated value pool for this sector until 2030 is a startling US$ 4 Bn.
Key Highlights
A thorough analysis of the entire market is made possible by the inclusion of granular segmentation by end-use, category, function, and geographic region in the global Industrial Trucks market report. Similarly, the existing and anticipated expansion of the Industrial Trucks business affects the market share of publications.
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The research also includes profiles of the Industrial Trucks industry’s goods, sales, returns, competitive landscape, market structure, industry drivers, and key business challenges. The study calculates the market’s current growth rate, projected future growth, and the key drivers that will affect that growth in 2022. The research also anticipates sales for the years 2022 to 2032 and calculates the number of product sold from 2015 to 2020.
Industrial Trucks Market: Segmentation
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The key business strategies discussed in this market research revolve around-
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