Industrial Truck Market Overview
Industrial trucks are used to move materials from one place to another in an industry. Other than being able to move materials anywhere in the industry, industrial trucks also facilitate vertical movement for lifting capabilities, if required. Non-lift modern trucks are utilized broadly for carrying and moving loads. Other power industrial trucks, on the other hand, are provided with mechanisms, which are mostly hydraulic in nature, for lifting loads. Forklift trucks are furnished with a fork-like system towards the front end, which allows trucks to pick up loads through pallets to elevate the load to the desired height and transport it to the desired location with maximum flexibility in the industrial complex. Most industrial trucks permit deposition of loads with mechanized pickup, removing manual work in lifting as well as transporting. The Industrial trucks are rated for loads at a specified maximum weight and a specified forward centre of gravity.
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Industrial Truck Market:Market Dynamics
The main factor behind the growth of the industrial truck market is the growing use of high capacity equipment in industries, rising awareness among people regarding the need to use better technology equipment for better results. Other factors promoting the growth of the industrial truck market are increasing need for for high yield and production, scarcity of labour and increasing focus on accuracy for enhancing yield and productivity. That apart, industrial trucks have become an integral component of the manufacturing industry, mining industry, railway and shipping industry and hence, the growth of these industries will also contribute towards the growth of the global industrial truck market.
However, the high price of industrial trucks and a general lack of awareness amongst people can act as a restraint to the growth of the global industrial truck market. However, the current trend to use better technology and equipment to get better results will increase the demand for industrial trucks during the forecast period.
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Industrial Truck Market: Regional Outlook
Europe holds a major share in the global industrial truck market. It is followed by Asia-Pacific, North America and Latin America. Europe and North America are projected to be major consumers owing to the extensive applications of industrial trucks in the manufacturing and construction industry. With increasing country integration or globalisation, which is evident from the increase in international trade and inbound-outbound FDI, positive growth in one economy leads to positive growth in correlated economies. Increase in industrial production in countries, such as China, India and Germany and strong growth purchase manager index numbers from Australia, China and UK will influence the growth of end-user industries in Asia Pacific, which in turn, will influence the demand for industrial trucks in the region during the forecast period. Rest of the world is estimated to account for a relatively small share of the industrial truck market.
Industrial Truck Market: Market Participants
Some of the examples of the market participants operating across the value chain of the global Industrial Truck Market are:
- Crown Equipment Corporation
- Hyster-Yale Materials Handling, Inc.
- Jungheinrich AG
- KION GROUP AG
- TOYOTA INDUSTRIES CORPORATION
- UniCarriers Americas Corporation
- Komatsu Utility Co.
- Clark Material Handling Company
- Anhui Forklift Group
- Lonking Forklift Company, Ltd
- Doosan Infracore
- Hytsu Group
- TAILIFT MATERIAL HANDLING TAIWAN CO., LTD
- HUBTEX Maschinenbau GmbH & Co. KG
- Paletrans Equipamentos Ltda
- Hyundai Heavy Industries
- SANY GROUP
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Industrial Truck Market:Market Segmentation
On the basis of power used, the Industrial Truck Market can be segmentedas follows:
- Fuel operated
- Liquefied Petroleum Gas or LPG
- Electric operated
On the basis of end-use industry, the Industrial Truck Market can be segmentedas follows:
- Construction industry
- Manufacturing industry
- Aviation industry
- Transportation and shipping industry
On the basis of the movement, the Industrial Truck Market can be segmentedas follows:
- Pallet truck
- Lifting truck
- Forklift truck