Orange EV has partnered with Firefly Transportation Services for the deployment of a T-Series tandem all-electric terminal truck. StreetDrone an UK based autonomus tech company has gained government funding for the development of software and hardware solutions for robotic industrial truck maneuvers in a Sunderland facility. Industrial truck manufacturers have been extensively invested in product launch and diversification strategies to widen offerings from non-powered to fully automated industrial truck products to meet the needs of myriad end use industries.įor instance, Yale has unveiled its ERP25-30VLL series of forklift trucks which features a fully integrated lithium ion battery solution, bolstering operator cabin space.

are some of the major players in the industrial truck market. Ltd., Raymond Corp., Godrej, Komatsu Ltd., Crown Equipment Corp., Kion Group AG, Toyota Industries Corp., Jungheinrich AG, and Hyster-Yale Materials Handling, Inc. The trend of digitalization and e-commerce activities are major factors supporting market growth.ĭoosan Industrial Vehicle Co.High maneuverability in constrained industrial spaces, bolsters overall demand for industrial trucks.

Asia Pacific is a lucrative market for industrial trucks owing to foreign direct investments into the construction and automotive sectors of the region.

Automated guided vehicles are gaining substantial attention, with compatibility of industry 4.0 practices.

Construction and manufacturing sector applications account for larger share of revenue, owing to major investments into mechanization.

“Growing concerns by business entities towards shortage of labor, and cost-efficiency in boosting productivity, in the mining, manufacturing, shipping, and railway industries are playing key roles in growth of the industrial trucks market during the forecast period,” says the FACT.MR report. The steep decline in industrial production during the crisis and the suspension of certain restricted activity in the automotive sector are two important contributing reasons. According to a Fact.MR study, the coronavirus pandemic has demonstrated to be negative to the short-term prospects of the industrial truck market.

In order to achieve a worth of US$ 37 billion by 2030, it is projected that the worldwide industrial truck market will exhibit a robust growth rate between 20.

Raymond reach truck forklift