Dublin, April 10, 2026 (GLOBE NEWSWIRE) — The “Industrial Vehicles Market by Vehicle Type, Propulsion, Application, Capacity, Level of Autonomy, Motor Type, and Region – Global Forecast to 2035” has been added to ResearchAndMarkets.com’s offering.
Major industrial vehicle manufacturers include Toyota Industries Corporation (Japan), KION Group AG (Germany), Mitsubishi Logisnext Co., Ltd. (Japan), Jungheinrich AG (Germany), Crown Equipment Corporation (US), and Hyster-Yale Materials Handling, Inc. (US).
The industrial vehicles market is projected to expand from USD 54.41 billion in 2026 to USD 91.44 billion by 2035, achieving a CAGR of 5.9%. This global growth is driven by the increasing complexity of supply chain operations and the adoption of automation. Key players are focusing on advanced industrial solutions like AGVs and autonomous forklifts to enhance efficiency.
Innovative warehousing technologies, incorporating IoT and AI-driven analytics, are accelerating market expansion by offering real-time inventory tracking and optimized planning. Concurrently, labor shortages and rising wage costs push for automation to reduce dependency on manual operations. Technological advances in battery technology, sensor systems, and connectivity contribute to safer, more energy-efficient vehicles.
The internal combustion engine (ICE) industrial vehicles segment is projected to grow significantly
ICE vehicles remain favored for their operational efficiency and ease of refueling, as they can handle heavy loads with prolonged operation times. The expansion of logistics hubs and industrial corridors, particularly in the Asia Pacific, propels the demand for ICE vehicles. Areas include India’s Delhi-Mumbai Industrial Corridor, China’s inland logistics zones, and regions in Southeast Asia and the GCC.
In heavy-duty equipment like forklifts, container handlers, and terminal tractors, diesel and LPG engines provide needed torque and operational reliability. These vehicles are critical in ports and rugged logistics sites where service networks and resale values support ICE adoption.
China anticipates significant growth in the Asia Pacific industrial vehicles market
Supported by government incentives, China is set to lead the market growth. Key manufacturers expand their product lines to cater to the booming industrial sector, introducing products like Hangcha Group’s hydrogen fuel-cell forklifts and Anhui Heli’s new lithium-battery models. This diversified product availability and increased industrialization are anticipated to bolster market growth.
Research Coverage
The study examines the market across various segments, estimating its size and future growth potential. It delivers a competitive analysis of key players, highlighting company profiles, product offerings, and recent market developments.
The report aids market leaders and new entrants by providing revenue approximations and understanding industrial vehicle sales trends. It enhances comprehension of the competitive landscape and supports strategy development for market positioning.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 411 |
| Forecast Period | 2026-2035 |
| Estimated Market Value (USD) in 2026 | $54.41 Billion |
| Forecasted Market Value (USD) by 2035 | $91.44 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
Market Dynamics
- Drivers
- Need for Warehouse Automation and High-Density Storage Models
- Focus on Electrification and Indoor Emission Compliance
- Port and Intermodal Terminal Modernization
- Challenges
- Technology Transition Risk from Ice to Electric and Digital Platforms
- Margin Compression from Commoditization and Rental Shift
- Opportunities
- Integration of Energy-As-A-Service Model and Battery Ecosystem
- Fleet Digitalization and Shift Toward ‘Productivity-As-A-Service’
- Case Studies
- Mitsubishi Forklift Enhanced Safety at Kellogg’s Manchester Site
- Dematic’s Autonomous Forklift Reduced Delivery Time at L’Oreal
- Thyssenkrupp Employed Jungheinrich AG for Flexible Automation
- Jungheinrich AG Automated Coko-Werk GmbH & Co. KG Warehouses
- Toyota Delivered Sustainable Agv Solutions to Panasonic Energy
- Industry Trends
- Powertrain Transition and Market Dynamics
- Growth in Off-Highway and Industrial Equipment
Company Profiles
- Toyota Industries Corporation
- Kion Group AG
- Mitsubishi Logisnext Co. Ltd.
- Jungheinrich AG
- Crown Equipment Corporation
- Hyster-Yale Materials Handling, Inc.
- Hangcha Forklift
- Clark
- Anhui Heli Co. Ltd.
- Konecranes
- Ep Equipment
- Komatsu Ltd.
- Doosan Bobcat
- Manitou Group
- Cargotec
- Action Construction Equipment Ltd.
- Hyundai Construction Equipment India Pvt. Ltd.
- V. Mariotti S.R.L.
- Combilift
- Daifuku
- Jbt
- Lonking Machinery Co. Ltd.
- Hubtex Maschinenbau GmbH & Co. KG
- Godrej & Boyce Manufacturing Company Limited
- Svetuck Ab
- Stocklin Logistik AG
- O.M.G. Srl
- Paletrans Forklifts
- Genkinger GmbH
- Flexi Trucks
- Agilox Services GmbH
- Jlg Industries, Inc.
- Tadano Ltd.
- Terex Corporation
- Linamar
- Magni Telescopic Handlers Srl
- Haulotte Group
- Aichi Corporation
- Palfinger AG
- Imer Group
- Sinoboom Intelligent Equipment Co, Ltd.
- Altec Industries
- J C Bamford Excavators Ltd.
- Noblelift Intelligent Equipment Co. Ltd.
- Bronto Skylift
- Dinolift Oy
For more information about this report visit https://www.researchandmarkets.com/r/p1auva
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- Industrial Vehicles Market
