The Industrial Vehicles Market Size was valued at USD 41.5 billion in 2023 and is expected to reach USD 59.01 billion by 2031 and grow at a CAGR of 4.5% over the forecast period 2024-2031.
The industrial vehicles market encompasses a diverse range of specialized vehicles designed to streamline operations within factories, warehouses, construction sites, and more. These workhorses, like forklifts, tow tractors, and container handlers, are engineered to tackle specific tasks, contributing significantly to efficiency, productivity, and safety across various sectors. The market thrives on the growing demand for efficient material handling and transportation solutions. The e-commerce rise has fueled the need for reliable vehicles in warehouses to manage the influx of goods. The advancements in automation are leading to the integration of autonomous vehicles for tasks like pallet movement and picking, further optimizing workflows. The rising adoption of electric and hybrid vehicles, driven by environmental concerns, presents a significant growth prospect. The integration of advanced technologies like artificial intelligence and sensor fusion holds immense potential for enhancing safety, precision, and overall operational efficiency.
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MARKET DYNAMICS:
KEY DRIVERS:
Digitalization, Efficiency Demands, and Government Funding Fuel Industrial Vehicle Market Growth
The industrial vehicle market is fueled by the rapid digitalization of these vehicles, with features like automation and connectivity, is boosting their efficiency and appeal. There's a growing focus on improving productivity and profitability within companies. This is driving demand for industrial vehicles that can help achieve these goals by streamlining operations and reducing costs.
RESTRAINTS:
The high initial cost of industrial vehicles, especially those with advanced features, can be a barrier for some companies.
Maintenance and repair costs for complex industrial vehicles can be substantial, adding to operational expenses.
OPPORTUNITIES:
The ever-growing e-commerce industry demands efficient warehouse solutions, creating opportunities for automation and high-capacity vehicles.
Sustainability concerns are driving a shift towards electric and alternative-fuel industrial vehicles.
CHALLENGES:
Limited R&D and consumer knowledge of advanced features could slow semi-autonomous vehicle market growth.
The semi-autonomous vehicle market faces the problems that could slow its growth. Limited research and development facilities restrict innovation and the production of advanced features. The lack of consumer understanding regarding these features creates hesitation in adopting this technology. This knowledge gap can be bridged through the educational initiatives and consumer awareness campaigns, paving the way for wider acceptance of semi-autonomous vehicles.
IMPACT OF RUSSIA-UKRAINE WAR
The war in Russia-Ukraine has disrupted the industrial vehicle market. Factories in Ukraine, which used to supply essential parts like wiring systems for these vehicles, have been shut down by the war. This has caused delays and shortages for manufacturers around the world. Estimates say production is dropped by the 400,000 units which is like a 2-3% decrease in the market. Governments put sanctions on Russia, making it hard to get raw materials, needed to build these vehicles. Many companies has stopped working in Russia entirely as all of this has made it more expensive to build industrial vehicles because the parts are hard to find and are high priced. The businesses are worried about the economy because of the war that is why they're not buying as many new industrial vehicles as demand might have gone down by 5-10%.
IMPACT OF ECONOMIC SLOWDOWN
An economic slowdown impacts the industrial vehicle market. Companies, limits their budget , delay purchases of new trucks, forklifts, and excavators. They might opt to fix existing ones instead. This cautious approach could lead to a 5-10% drop in demand. Thus, securing loans for these vehicles becomes tougher as banks get choosier during downturns as it further dampens the market. Economic uncertainty creates a bad effect by losing the confidence of the businesses, leading to a slowdown in overall activity. Anticipating this, industrial vehicle manufacturers might have to cut production by 2-3%. With lower production and sales, layoffs or production cuts could impact the workforce and the entire economy. The severity of the economic slowdown determines the extent of the market's struggles. Thus, the potential decline in demand, production decline, and job losses highlight the industry's vulnerability to economic ups and downs.
KEY MARKET SEGMENTS:
By Vehicle Type & Capacity:
Forklifts
<5 ton
5-10 ton
11-36 ton
>36 ton
Aisle Trucks
<1 ton
1-2 ton
>2 ton
Tow Tractors
<5 ton
5-10 ton
11-30 ton
>30 ton
Container Handlers
<30 ton
30-40 ton
>40 ton
Automated Guided Vehicles
Personnel Carriers
Forklifts is the dominating sub-segment in the Industrial Vehicles Market by vehicle type & capacity holding around 65% of market share due to their adaptability. They handle various loads across industries like manufacturing, warehousing, and freight. The 5-10 ton capacity range reigns supreme because it can handle standard pallets, making it ideal for general applications. However, for heavy-duty tasks in specific industries like mining or steel mills, higher capacity forklifts (>36 tons) are crucial.
By Drive Type:
Internal Combustion Engine Industrial Vehicles
Battery-operated Industrial Vehicles
Gas-powered Industrial Vehicles
Internal Combustion Engine Industrial Vehicles is the dominating sub-segment in the Industrial Vehicles Market by drive type holding around 55% of market share as vehicles offer high power and long range, making them perfect for outdoor tasks and heavy-duty applications in construction or mining.
By Application:
Manufacturing
Chemical
Food & Beverages
Mining
Automotive
Metals & Heavy Machinery
Others
Warehousing
Freight & Logistics
Others
Warehousing is the dominating sub-segment in the Industrial Vehicles Market by application holding around 45% of market share. The e-commerce growth has fueled the demand for efficient material handling solutions in warehouses. This segment leads the pack, driven by the extensive use of forklifts, AGVs (automated guided vehicles), and tow tractors for tasks like stocking, picking, and order fulfilment.
By Level of Autonomy:
Non/Semi-autonomous
Autonomous
Non-autonomous vehicles is the dominating sub-segment in the Industrial Vehicles Market by level of autonomy holding around 90% of market share due to affordability. Complex autonomous tech makes them pricier. Additionally, established functionalities and readily available operator training make these familiar workhorses a reliable choice. Their versatility, with options ranging from basic forklifts to semi-autonomous models, caters to diverse needs.
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REGIONAL ANALYSES
The Asia Pacific is the dominating region in the Industrial Vehicles Market holding around 40% of market share fueled by its growing automotive industry, government investments in infrastructure, and rapid urbanization.
Europe is the second highest region in this market boasting established manufacturers and a focus on automation, holds the second-largest share around 25-30%.
North America is experiencing the fastest growth in this market with a strong construction sector, technological advancements, and aging infrastructure needs holding around 20-25% of share. Due to its rapid growth and development, it will outpace others in coming years.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Robert Bosch Automotive Steering GmbH, Hyundai Mobis Co., Ltd., Electric Steering JTEKT Corporation, ZF TRW Automotive Holdings Corp., NSK Ltd., Nexteer Automotive Group Limited, Mando Corporation, ThyssenKrupp Ag, Showa Corporation, China Automotive System and other key players.
In March 2024: Chinese forklift manufacturer, EP Equipment, has secured a deal with German building material supplier, Boendgen Baustoffe. Boendgen Baustoffe is upgrading its fleet with EP's electric EFL forklift series.
In Jan. 2024: Hyster-Yale (US) introduced the J32-40UTTL, a new 1.4-1.8 ton electric forklift truck. This launch expands their zero-emission industrial vehicle options.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 41.5 Billion |
| Market Size by 2031 | US$ 59.01 Billion |
| CAGR | CAGR of 4.5% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Vehicle Type & Capacity (Forklifts (<5 ton, 5-10 ton, 11-36 ton, >36 ton), Aisle Trucks (<1 ton, 1-2 ton, >2 ton), Tow Tractors (<5 ton, 5-10 ton, 11-30 ton, >30 ton), Container Handlers (<30 ton, 30-40 ton, >40 ton), Automated Guided Vehicles, Personnel Carriers) • By Drive Type (Internal Combustion Engine Industrial Vehicles, Battery-operated Industrial Vehicles, Gas-powered Industrial Vehicles) • By Application (Manufacturing (Chemical, Food & Beverages, Mining, Automotive, Metals & Heavy Machinery, Others), Warehousing, Freight & Logistics, Others) • By Level of Autonomy (Non/Semi-autonomous, Autonomous) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Robert Bosch Automotive Steering GmbH, Hyundai Mobis Co., Ltd., Electric Steering JTEKT Corporation, ZF TRW Automotive Holdings Corp., NSK Ltd., Nexteer Automotive Group Limited, Mando Corporation, ThyssenKrupp Ag, Showa Corporation, China Automotive System |
| Key Drivers | • Digitalization, Efficiency Demands, and Government Funding Fuel Industrial Vehicle Market Growth |
| Restraints | • The high initial cost of industrial vehicles, especially those with advanced features, can be a barrier for some companies. • Maintenance and repair costs for complex industrial vehicles can be substantial, adding to operational expenses. |
Ans: The expected CAGR of the global Industrial Vehicles Market during the forecast period is 4.5%.
Ans: The Industrial Vehicles Market was valued at USD 41.5 billion in 2023.
Ans: 5-10 tons for handling standard pallets.
Ans: Asia Pacific (40% share) due to its growing automotive industry and urbanization.
Ans: Parts shortages and production delays due to the Russia-Ukraine war.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
9.1 Introduction
9.2 Trend Analysis
9.3 Forklifts
9.3.1 <5 ton
9.3.2 5-10 ton
9.3.3 11-36 ton
9.3.4 >36 ton
9.4 Aisle Trucks
9.4.1 <1 ton
9.4.2 1-2 ton
9.4.3 >2 ton
9.5 Tow Tractors
9.5.1 <5 ton
9.5.2 5-10 ton
9.5.3 11-30 ton
9.5.4 >30 ton
9.6 Container Handlers
9.6.1 <30 ton
9.6.2 30-40 ton
9.6.3 >40 ton
9.7 Automated Guided Vehicles
9.8 Personnel Carriers
10. Industrial Vehicles Market Segmentation, By Drive Type
10.1 Introduction
10.2 Trend Analysis
10.3 Internal Combustion Engine Industrial Vehicles
10.4 Battery-operated Industrial Vehicles
10.5 Gas-powered Industrial Vehicles
11. Industrial Vehicles Market Segmentation, By Application
11.1 Introduction
11.2Trend Analysis
11.3 Manufacturing
11.3.1 Chemical
11.3.2 Food & Beverages
11.3.3 Mining
11.3.4 Automotive
11.3.5 Metals & Heavy Machinery
11.3.6 Others
11.4 Warehousing
11.5 Freight & Logistics
11.6 Others
12. Industrial Vehicles Market Segmentation, By Level of Autonomy
12.1 Introduction
12.2 Trend Analysis
12.3 Non/Semi-autonomous
12.4 Autonomous
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 Trend Analysis
13.2.2 North America Industrial Vehicles Market Segmentation, By Country
13.2.3 North America Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.2.4 North America Industrial Vehicles Market Segmentation, By Drive Type
13.2.5 North America Industrial Vehicles Market Segmentation, By Application
13.2.6 North America Industrial Vehicles Market Segmentation, By Level of Autonomy
13.2.7 USA
13.2.7.1 USA Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.2.7.2 USA Industrial Vehicles Market Segmentation, By Drive Type
13.2.7.3 USA Industrial Vehicles Market Segmentation, By Application
13.2.7.4 USA Industrial Vehicles Market Segmentation, By Level of Autonomy
13.2.8 Canada
13.2.8.1 Canada Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.2.8.2 Canada Industrial Vehicles Market Segmentation, By Drive Type
13.2.8.3 Canada Industrial Vehicles Market Segmentation, By Application
13.2.8.4 Canada Industrial Vehicles Market Segmentation, By Level of Autonomy
13.2.9 Mexico
13.2.9.1 Mexico Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.2.9.2 Mexico Industrial Vehicles Market Segmentation, By Drive Type
13.2.9.3 Mexico Industrial Vehicles Market Segmentation, By Application
13.2.9.4 Mexico Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3 Europe
13.3.1 Trend Analysis
13.3.2 Eastern Europe
13.3.2.1 Eastern Europe Industrial Vehicles Market Segmentation, by Country
13.3.2.2 Eastern Europe Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.2.3 Eastern Europe Industrial Vehicles Market Segmentation, By Drive Type
13.3.2.4 Eastern Europe Industrial Vehicles Market Segmentation, By Application
13.3.2.5 Eastern Europe Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.2.6 Poland
13.3.2.6.1 Poland Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.2.6.2 Poland Industrial Vehicles Market Segmentation, By Drive Type
13.3.2.6.3 Poland Industrial Vehicles Market Segmentation, By Application
13.3.2.6.4 Poland Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.2.7 Romania
13.3.2.7.1 Romania Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.2.7.2 Romania Industrial Vehicles Market Segmentation, By Drive Type
13.3.2.7.3 Romania Industrial Vehicles Market Segmentation, By Application
13.3.2.7.4 Romania Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.2.8 Hungary
13.3.2.8.1 Hungary Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.2.8.2 Hungary Industrial Vehicles Market Segmentation, By Drive Type
13.3.2.8.3 Hungary Industrial Vehicles Market Segmentation, By Application
13.3.2.8.4 Hungary Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.2.9 Turkey
13.3.2.9.1 Turkey Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.2.9.2 Turkey Industrial Vehicles Market Segmentation, By Drive Type
13.3.2.9.3 Turkey Industrial Vehicles Market Segmentation, By Application
13.3.2.9.4 Turkey Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.2.10 Rest of Eastern Europe
13.3.2.10.1 Rest of Eastern Europe Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.2.10.2 Rest of Eastern Europe Industrial Vehicles Market Segmentation, By Drive Type
13.3.2.10.3 Rest of Eastern Europe Industrial Vehicles Market Segmentation, By Application
13.3.2.10.4 Rest of Eastern Europe Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.3 Western Europe
13.3.3.1 Western Europe Industrial Vehicles Market Segmentation, by Country
13.3.3.2 Western Europe Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.3.3 Western Europe Industrial Vehicles Market Segmentation, By Drive Type
13.3.3.4 Western Europe Industrial Vehicles Market Segmentation, By Application
13.3.3.5 Western Europe Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.3.6 Germany
13.3.3.6.1 Germany Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.3.6.2 Germany Industrial Vehicles Market Segmentation, By Drive Type
13.3.3.6.3 Germany Industrial Vehicles Market Segmentation, By Application
13.3.3.6.4 Germany Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.3.7 France
13.3.3.7.1 France Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.3.7.2 France Industrial Vehicles Market Segmentation, By Drive Type
13.3.3.7.3 France Industrial Vehicles Market Segmentation, By Application
13.3.3.7.4 France Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.3.8 UK
13.3.3.8.1 UK Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.3.8.2 UK Industrial Vehicles Market Segmentation, By Drive Type
13.3.3.8.3 UK Industrial Vehicles Market Segmentation, By Application
13.3.3.8.4 UK Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.3.9 Italy
13.3.3.9.1 Italy Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.3.9.2 Italy Industrial Vehicles Market Segmentation, By Drive Type
13.3.3.9.3 Italy Industrial Vehicles Market Segmentation, By Application
13.3.3.9.4 Italy Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.3.10 Spain
13.3.3.10.1 Spain Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.3.10.2 Spain Industrial Vehicles Market Segmentation, By Drive Type
13.3.3.10.3 Spain Industrial Vehicles Market Segmentation, By Application
13.3.3.10.4 Spain Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.3.11 Netherlands
13.3.3.11.1 Netherlands Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.3.11.2 Netherlands Industrial Vehicles Market Segmentation, By Drive Type
13.3.3.11.3 Netherlands Industrial Vehicles Market Segmentation, By Application
13.3.3.11.4 Netherlands Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.3.12 Switzerland
13.3.3.12.1 Switzerland Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.3.12.2 Switzerland Industrial Vehicles Market Segmentation, By Drive Type
13.3.3.12.3 Switzerland Industrial Vehicles Market Segmentation, By Application
13.3.3.12.4 Switzerland Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.3.13 Austria
13.3.3.13.1 Austria Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.3.13.2 Austria Industrial Vehicles Market Segmentation, By Drive Type
13.3.3.13.3 Austria Industrial Vehicles Market Segmentation, By Application
13.3.3.13.4 Austria Industrial Vehicles Market Segmentation, By Level of Autonomy
13.3.3.14 Rest of Western Europe
13.3.3.14.1 Rest of Western Europe Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.3.3.14.2 Rest of Western Europe Industrial Vehicles Market Segmentation, By Drive Type
13.3.3.14.3 Rest of Western Europe Industrial Vehicles Market Segmentation, By Application
13.3.3.14.4 Rest of Western Europe Industrial Vehicles Market Segmentation, By Level of Autonomy
13.4 Asia-Pacific
13.4.1 Trend Analysis
13.4.2 Asia-Pacific Industrial Vehicles Market Segmentation, by Country
13.4.3 Asia-Pacific Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.4.4 Asia-Pacific Industrial Vehicles Market Segmentation, By Drive Type
13.4.5 Asia-Pacific Industrial Vehicles Market Segmentation, By Application
13.4.6 Asia-Pacific Industrial Vehicles Market Segmentation, By Level of Autonomy
13.4.7 China
13.4.7.1 China Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.4.7.2 China Industrial Vehicles Market Segmentation, By Drive Type
13.4.7.3 China Industrial Vehicles Market Segmentation, By Application
13.4.7.4 China Industrial Vehicles Market Segmentation, By Level of Autonomy
13.4.8 India
13.4.8.1 India Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.4.8.2 India Industrial Vehicles Market Segmentation, By Drive Type
13.4.8.3 India Industrial Vehicles Market Segmentation, By Application
13.4.8.4 India Industrial Vehicles Market Segmentation, By Level of Autonomy
13.4.9 Japan
13.4.9.1 Japan Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.4.9.2 Japan Industrial Vehicles Market Segmentation, By Drive Type
13.4.9.3 Japan Industrial Vehicles Market Segmentation, By Application
13.4.9.4 Japan Industrial Vehicles Market Segmentation, By Level of Autonomy
13.4.10 South Korea
13.4.10.1 South Korea Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.4.10.2 South Korea Industrial Vehicles Market Segmentation, By Drive Type
13.4.10.3 South Korea Industrial Vehicles Market Segmentation, By Application
13.4.10.4 South Korea Industrial Vehicles Market Segmentation, By Level of Autonomy
13.4.11 Vietnam
13.4.11.1 Vietnam Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.4.11.2 Vietnam Industrial Vehicles Market Segmentation, By Drive Type
13.4.11.3 Vietnam Industrial Vehicles Market Segmentation, By Application
13.4.11.4 Vietnam Industrial Vehicles Market Segmentation, By Level of Autonomy
13.4.12 Singapore
13.4.12.1 Singapore Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.4.12.2 Singapore Industrial Vehicles Market Segmentation, By Drive Type
13.4.12.3 Singapore Industrial Vehicles Market Segmentation, By Application
13.4.12.4 Singapore Industrial Vehicles Market Segmentation, By Level of Autonomy
13.4.13 Australia
13.4.13.1 Australia Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.4.13.2 Australia Industrial Vehicles Market Segmentation, By Drive Type
13.4.13.3 Australia Industrial Vehicles Market Segmentation, By Application
13.4.13.4 Australia Industrial Vehicles Market Segmentation, By Level of Autonomy
13.4.14 Rest of Asia-Pacific
13.4.14.1 Rest of Asia-Pacific Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.4.14.2 Rest of Asia-Pacific Industrial Vehicles Market Segmentation, By Drive Type
13.4.14.3 Rest of Asia-Pacific Industrial Vehicles Market Segmentation, By Application
13.4.14.4 Rest of Asia-Pacific Industrial Vehicles Market Segmentation, By Level of Autonomy
13.5 Middle East & Africa
13.5.1 Trend Analysis
13.5.2 Middle East
13.5.2.1 Middle East Industrial Vehicles Market Segmentation, by Country
13.5.2.2 Middle East Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.5.2.3 Middle East Industrial Vehicles Market Segmentation, By Drive Type
13.5.2.4 Middle East Industrial Vehicles Market Segmentation, By Application
13.5.2.5 Middle East Industrial Vehicles Market Segmentation, By Level of Autonomy
13.5.2.6 UAE
13.5.2.6.1 UAE Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.5.2.6.2 UAE Industrial Vehicles Market Segmentation, By Drive Type
13.5.2.6.3 UAE Industrial Vehicles Market Segmentation, By Application
13.5.2.6.4 UAE Industrial Vehicles Market Segmentation, By Level of Autonomy
13.5.2.7 Egypt
13.5.2.7.1 Egypt Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.5.2.7.2 Egypt Industrial Vehicles Market Segmentation, By Drive Type
13.5.2.7.3 Egypt Industrial Vehicles Market Segmentation, By Application
13.5.2.7.4 Egypt Industrial Vehicles Market Segmentation, By Level of Autonomy
13.5.2.8 Saudi Arabia
13.5.2.8.1 Saudi Arabia Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.5.2.8.2 Saudi Arabia Industrial Vehicles Market Segmentation, By Drive Type
13.5.2.8.3 Saudi Arabia Industrial Vehicles Market Segmentation, By Application
13.5.2.8.4 Saudi Arabia Industrial Vehicles Market Segmentation, By Level of Autonomy
13.5.2.9 Qatar
13.5.2.9.1 Qatar Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.5.2.9.2 Qatar Industrial Vehicles Market Segmentation, By Drive Type
13.5.2.9.3 Qatar Industrial Vehicles Market Segmentation, By Application
13.5.2.9.4 Qatar Industrial Vehicles Market Segmentation, By Level of Autonomy
13.5.2.10 Rest of Middle East
13.5.2.10.1 Rest of Middle East Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.5.2.10.2 Rest of Middle East Industrial Vehicles Market Segmentation, By Drive Type
13.5.2.10.3 Rest of Middle East Industrial Vehicles Market Segmentation, By Application
13.5.2.10.4 Rest of Middle East Industrial Vehicles Market Segmentation, By Level of Autonomy
13.5.3 Africa
13.5.3.1 Africa Industrial Vehicles Market Segmentation, by Country
13.5.3.2 Africa Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.5.3.3 Africa Industrial Vehicles Market Segmentation, By Drive Type
13.5.3.4 Africa Industrial Vehicles Market Segmentation, By Application
13.5.3.5 Africa Industrial Vehicles Market Segmentation, By Level of Autonomy
13.5.3.6 Nigeria
13.5.3.6.1 Nigeria Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.5.3.6.2 Nigeria Industrial Vehicles Market Segmentation, By Drive Type
13.5.3.6.3 Nigeria Industrial Vehicles Market Segmentation, By Application
13.5.3.6.4 Nigeria Industrial Vehicles Market Segmentation, By Level of Autonomy
13.5.3.7 South Africa
13.5.3.7.1 South Africa Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.5.3.7.2 South Africa Industrial Vehicles Market Segmentation, By Drive Type
13.5.3.7.3 South Africa Industrial Vehicles Market Segmentation, By Application
13.5.3.7.4 South Africa Industrial Vehicles Market Segmentation, By Level of Autonomy
13.5.3.8 Rest of Africa
13.5.3.8.1 Rest of Africa Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.5.3.8.2 Rest of Africa Industrial Vehicles Market Segmentation, By Drive Type
13.5.3.8.3 Rest of Africa Industrial Vehicles Market Segmentation, By Application
13.5.3.8.4 Rest of Africa Industrial Vehicles Market Segmentation, By Level of Autonomy
13.6 Latin America
13.6.1 Trend Analysis
13.6.2 Latin America Industrial Vehicles Market Segmentation, by country
13.6.3 Latin America Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.6.4 Latin America Industrial Vehicles Market Segmentation, By Drive Type
13.6.5 Latin America Industrial Vehicles Market Segmentation, By Application
13.6.6 Latin America Industrial Vehicles Market Segmentation, By Level of Autonomy
13.6.7 Brazil
13.6.7.1 Brazil Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.6.7.2 Brazil Industrial Vehicles Market Segmentation, By Drive Type
13.6.7.3 Brazil Industrial Vehicles Market Segmentation, By Application
13.6.7.4 Brazil Industrial Vehicles Market Segmentation, By Level of Autonomy
13.6.8 Argentina
13.6.8.1 Argentina Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.6.8.2 Argentina Industrial Vehicles Market Segmentation, By Drive Type
13.6.8.3 Argentina Industrial Vehicles Market Segmentation, By Application
13.6.8.4 Argentina Industrial Vehicles Market Segmentation, By Level of Autonomy
13.6.9 Colombia
13.6.9.1 Colombia Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.6.9.2 Colombia Industrial Vehicles Market Segmentation, By Drive Type
13.6.9.3 Colombia Industrial Vehicles Market Segmentation, By Application
13.6.9.4 Colombia Industrial Vehicles Market Segmentation, By Level of Autonomy
13.6.10 Rest of Latin America
13.6.10.1 Rest of Latin America Industrial Vehicles Market Segmentation, By Vehicle Type & Capacity
13.6.10.2 Rest of Latin America Industrial Vehicles Market Segmentation, By Drive Type
13.6.10.3 Rest of Latin America Industrial Vehicles Market Segmentation, By Application
13.6.10.4 Rest of Latin America Industrial Vehicles Market Segmentation, By Level of Autonomy
14. Company Profiles
14.1 Robert Bosch Automotive Steering GmbH
14.1.1 Company Overview
14.1.2 Financial
14.1.3 Products/ Services Offered
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 Hyundai Mobis Co., Ltd.
14.2.1 Company Overview
14.2.2 Financial
14.2.3 Products/ Services Offered
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 Electric Steering JTEKT Corporation
14.3.1 Company Overview
14.3.2 Financial
14.3.3 Products/ Services Offered
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 ZF TRW Automotive Holdings Corp.
14.4.1 Company Overview
14.4.2 Financial
14.4.3 Products/ Services Offered
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 NSK Ltd.
14.5.1 Company Overview
14.5.2 Financial
14.5.3 Products/ Services Offered
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 Nexteer Automotive Group Limited
14.6.1 Company Overview
14.6.2 Financial
14.6.3 Products/ Services Offered
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 Mando Corporation
14.7.1 Company Overview
14.7.2 Financial
14.7.3 Products/ Services Offered
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 ThyssenKrupp Ag
14.8.1 Company Overview
14.8.2 Financial
14.8.3 Products/ Services Offered
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 Showa Corporation
14.9.1 Company Overview
14.9.2 Financial
14.9.3 Products/ Services Offered
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 China Automotive System
14.10.1 Company Overview
14.10.2 Financial
14.10.3 Products/ Services Offered
14.10.4 SWOT Analysis
14.10.5 The SNS View
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
15.3.1 Industry News
15.3.2 Company News
15.3.3 Mergers & Acquisitions
16. Use Case and Best Practices
17. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Automotive Grille Market Size was $10.32 billion in 2023 and is expected to reach USD 15.25 billion by 2031 and grow at a CAGR of 5% by 2024-2031.
The Robotaxi Market size was valued at USD 0.38 billion in 2023 and is expected to reach USD 70.17 billion by 2031 and grow at a CAGR of 92% by 2024-2031.
The Automotive Camera Market size was valued at $7.96 billion in 2023 and will reach to $18.09 billion by 2031 and grow at a CAGR of 10.75% by 2024-2031
The Automotive Data Management Market size is expected to reach USD 8.01 Bn by 2030, the market was valued at USD 2.10 Bn in 2022 and will grow at a CAGR of 20.05% over the forecast period of 2023-2030.
The Bike Sharing Market Size was valued at USD 7 billion in 2023 and is expected to reach USD 16.7 billion by 2031 and grow at a CAGR of 11.5% by 2024-2031.
The Intelligent Traffic Management System Market Size was valued at USD 11.25 billion in 2023 and is expected to reach USD 32.09 billion by 2031 and grow at a CAGR of 14% over the forecast period 2024-2031.
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