“Increased industrialization and setting up of warehouses will likely drive the industrial vehicles market”
The industrial vehicles market is estimated to be USD 13.45 billion in 2016, and is projected to grow at a CAGR of 1.86% from 2016 to 2021, to reach USD 14.75 billion by 2021. The growth of this market is fueled by increased industrialization and setting up of warehouses for various sectors such as e-commerce and manufacturing Automatic guided vehicles and customized industrial vehicles have a high installation cost; this is a major restraint for the industrial vehicles market.
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“Battery-operated industrial vehicles to be the fastest growing segment in the industrial vehicles market”
Battery-operated industrial vehicles are being increasingly adopted as they are environmentally friendly, reliable, and efficient. These vehicles are economical, and are generally preferred for small warehouses or narrow aisles due to their compactness. Given these advantages, the battery-operated industrial vehicle market is expected to surpass the markets for internal combustion engine-driven and gas-powered industrial vehicles.
“Europe is the fastest growing market for industrial vehicles”
The European region is the fastest growing market for industrial vehicles. Research and development efforts form an integral part of the European economy. The European Union’s key strategy for 2010–2020 identifies research and development as the key measure for economic growth. Industrial vehicle manufacturers are investing heavily in developing technologically advanced products. The demand for advanced products will likely drive the industrial vehicles market in Europe.
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The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs.
The break-up of the primaries is as follows:
• By Company Type – Tier 1 – 42 , Tier 2 – 26, Others – 32%
• By Designation – C level – 40%, D level – 29%, Others – 31%
• By Region – North America – 38%, Europe – 22%, Asia-Pacific – 30%, Africa – 10%
Major players profiled in the report are:
• Toyota Industries Corporation (Japan)
• KION Group AG (Germany)
• Hyster-Yale Materials Handling, Inc. (U.S.)
• Crown Equipment Corporation (U.S.)
• Jungheinrich AG (Germany)
• Mitsubishi Nichiyu Forklift Co., Ltd. (Japan)
• Konecranes (Finland)
• Clark Material Handling Company (U.S.)
• Hangcha Group (China)
• Anhui Heli Co., Ltd. (China)
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The Compressed Natural Gas Vehicles market revenue was xx.xx Million USD in 2013, grew to xx.xx Million USD in 2017, and will reach xx.xx Million USD in 2023, with a CAGR of x.x% during 2018-2023. Based on the Compressed Natural Gas Vehicles industrial chain, this report mainly elaborate the definition, types, applications and major players of Compressed Natural Gas Vehicles market in details. Deep analysis about market status (2013-2018), enterprise competition pattern, advantages and disadvantages of enterprise Products, industry development trends (2018-2023), regional industrial layout characteristics and macroeconomic policies, industrial policy has also be included. From raw materials to downstream buyers of this industry will be analyzed scientifically, the feature of product circulation and sales channel will be presented as well. In a word, this report will help you to establish a panorama of industrial development and characteristics of the Compressed Natural Gas Vehicles market.
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