DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Industrial Vehicles Market by Product Type, Drive Type, Application and Region - Global Forecast to 2021" report to their offering.
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.
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.
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.
- Anhui Heli Co., Ltd
- Crown Equipment Corporation
- Hangcha Group Co. Ltd.
- Hyster-Yale Materials Handling, Inc.
- Jungheinrich AG
- Kion Group AG
- Mitsubishi Nichiyu Forklift Co., Ltd.
- Toyota Industries Corporation
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industrial Vehicle Market,By Region
7 Industrial Vehicle Market, By Type
8 Industrial Vehicle Market,By Drive Type
9 Industrial Vehicle Market, By Application
10 Competitive Landscape
11 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/8dmj83/industrial