Industrial Truck Market - Top Companies and Manufacturers

  • Report ID: 6668
  • Published Date: Nov 08, 2024
  • Report Format: PDF, PPT

Companies Dominating the Industrial Truck Landscape

    The competitive environment in the industrial truck market is largely driven by the growing demand for automation and diligent logistics solutions, which has made many businesses invest in the creation of electric and driverless industrial truck. The industrial truck market is also impacted by strategic alliances, mergers, and acquisitions that would increase operational capabilities and product offerings. For instance, in June 2023, GM announced an investment worth USD 632 million in its Fort Wayne facility to render funding for new tools, conveyors, and equipment to facilitate its Chevrolet Silverado 1500 and GMC Sierra 1500 trucks.

    Here’s the list of some key players of industrial truck market:

    • BYD Company Limited
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Crown Equipment Corporation
    • Anhui Heli Co., Ltd.
    • Doosan Corporation Industrial Vehicle
    • Hyster-Yale Materials Handling Inc.
    • Jungheinrich AG
    • KION Group AG
    • Hyundai Heavy Industries Co., Ltd.

Browse Key Market Insights with Data Illustration:

In the News

  • In May 2024, Daimler Truck announced to build a USD 40 million engineering facility. It further announced investment of USD 3 million towards a training center at its Swan Island headquarters to support its electric truck manufacturing operations in Oregon.
  • In June 2023, General Motors intended to invest over USD 1 billion in two plants in Michigan to produce heavy-duty trucks of the future. USD 788 million of the investment will go toward preparing the Flint Assembly plant to produce heavy-duty gas and diesel trucks. Furthermore, an additional USD 233 million to help with the vehicles' production.

Author Credits:  Saima Khursheed


  • Report ID: 6668
  • Published Date: Nov 08, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of the industrial truck market was estimated at over USD 28.7 billion.

The market size of the industrial truck market is projected to cross USD 61.2 billion by the end of 2037 expanding at a CAGR of 6% during the forecast period i.e., between 2025-2037.

The major players in the market are Anhui Heli Co., Ltd., BYD Company Ltd., Jungheinrich AG, KION Group AG, and others.

Based on propulsion, the ICE segment is anticipated to garner the largest market share of 74% by 2037 and display lucrative growth opportunities during 2025-2037.

The market in Asia Pacific is projected to hold the largest market share of 42% by the end of 2037 and provide more business opportunities in the future.
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