Global Industrial Vehicles Market projected to grow to USD 59.73 billion by 2033.

From GlobeNewswire: 2024-05-16 21:00:00

The Global Industrial Vehicles Market is projected to grow from USD 38.92 billion in 2023 to USD 59.73 billion by 2033, with a CAGR of 4.38%. Battery-powered vehicles are gaining popularity for their cost-effectiveness, compact size, and environmental benefits. The forklifts segment is expected to dominate the market, with electric forklifts driving growth. Asia Pacific is set to hold the largest market share, while Europe is expected to see the fastest CAGR due to increasing demand for industrial electric vehicles. Major vendors include Cargotec Corporation, CLARK, Crown Equipment Corporation, and more. Recent developments include Tata Motors launching electric commercial vehicles and forming strategic partnerships. The study forecasts revenue globally, regionally, and by country from 2020 to 2033, segmented by type, drive type, application, and region.

Sources:
https://www.globe.com/news/industrial-vehicles-market-expected-to-grow-to-59-73-billion-by-2033
https://www.sphericalinsights.com/request-sample/4154



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