Asia Pacific Industrial Vehicles Market Forecast to 2030

At 5.2% CAGR, Asia Pacific Industrial Vehicles Market is Speculated to be Worth US$ 35,062.57 Million by 2030, says the Research Team

According to the Research Team’ research, the Asia Pacific industrial vehicles market was valued at US$ 23,323.84 million in 2022 and is expected to reach US$ 35,062.57 million by 2030, registering a CAGR of 5.2% from 2022 to 2030. Rise in demand from mining industry and efficient, safe, and cost-effective industrial vehicles are among the critical factors attributed to the Asia Pacific industrial vehicles market expansion.

The escalating global demand for minerals and natural resources has propelled a surge in mining activities. As a result, the mining sector requires industrial vehicles to reshape the landscape of industrial machinery utilization. A few instances that indicate a rise in mining activities across the globe are mentioned below:

The government of China has implemented a series of policies and incentives to encourage the construction of green mines, resulting in the listing of 1,254 mining companies on the national green mine directory till 2021. With nearly 40,000 mines in China, the green mining sector records a rise in mining activities and associated services.

As mining activities expand across diverse geographical regions, the demand for specialized industrial vehicles tailored to the unique challenges of mining operations has widely increased. industrial vehicles, play a key role in the extraction, transportation, and processing of minerals. The scale and complexity of modern mining operations necessitate the use of advanced industrial vehicles equipped with cutting-edge technologies to enhance efficiency, safety, and productivity.

The growing emphasis on sustainability and eco-friendly solutions in the mining industry further fuels the demand for innovative industrial vehicles. Electric vehicles and hybrid vehicles are increasingly preferred as eco-friendly alternatives in order to address concerns about emissions, air quality, and the carbon footprint of mining operations. As a result, manufacturers of industrial vehicles are developing electric-powered trucks and loaders, contributing to a more sustainable and responsible approach to mining activities.

Moreover, the rapid rise in urbanization and infrastructure development in emerging nations contribute to an increased need for raw materials, fostering an environment conducive to sustained growth in mining activities. The expansion of mining projects in remote and harsh terrains amplifies the requirement for rugged and durable industrial vehicles. Specialized vehicles equipped with features such as all-terrain capabilities, advanced suspension systems, and enhanced durability become essential for navigating challenging landscapes and ensuring uninterrupted mining operations, especially in the most adverse conditions. The surge in commodity prices and an increased focus on securing a stable supply chain for critical minerals further drive the demand for industrial vehicles in mining.

Thus, there is an increased demand for technologically advanced, autonomous, and environmentally sustainable vehicles tailored to the specific needs of mining operations, which fuels the industrial vehicle market growth.

On the contrary, significant initial, operational and maintenance costs hamper the growth Asia Pacific industrial vehicles market.

Based on type, the Asia Pacific industrial vehicles market is segmented into forklifts, aisle trucks, tow tractors, container handlers, and others. The forklifts segment held 27.8% share of the Asia Pacific industrial vehicles market in 2022, amassing US$ 6,494.25 million. It is projected to garner US$ 10,238.25 million by 2030 to expand at 5.9% CAGR during 2022-2030.

In terms of drive type, the Asia Pacific industrial vehicles market is segmented into internal combustion engine, battery-operated, and gas-powered. The battery-operated segment held 64.0% share of the Asia Pacific industrial vehicles market in 2022, amassing US$ 14,917.64 million. It is estimated to garner US$ 25,317.06 million by 2030 to expand at 6.8% CAGR during 2022-2030.

By level of autonomy, the Asia Pacific industrial vehicles market is bifurcated into non/semi-autonomous and autonomous. The non/semi-autonomous segment held 57.8% share of Asia Pacific industrial vehicles market in 2022, amassing US$ 13,478.15 million. It is predicted to garner US$ 18,530.71 million by 2030 to expand at 4.1% CAGR during 2022-2030.

Based on application, the Asia Pacific industrial vehicles market is segmented into manufacturing, warehousing, and others. The manufacturing segment held 52.6% share of the Asia Pacific industrial vehicles market in 2022, amassing US$ 12,279.87 million. It is projected to garner US$ 18,997.17 million by 2030 to expand at 5.6% CAGR during 2022-2030.

Based on country, the Asia Pacific industrial vehicles market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held 37.2% share of Asia Pacific industrial vehicles market in 2022, amassing US$ 8,669.58 million. It is projected to garner US$ 12,580.78 million by 2030 to expand at 4.8% CAGR during 2022-2030.

Key players operating in the Asia Pacific industrial vehicles market are Kion Group AG, Toyota Industries Corp, Mitsubishi Heavy Industries Ltd, Komatsu Ltd, Hyster-Yale Materials Handling Inc, Jungheinrich AG, Crown Equipment Corp, Konecranes Plc, and Anhui Heli Co Ltd., among others.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific industrial vehicles market.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific industrial vehicles market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.

TABLE OF CONTENTS

1. Introduction
1.1 The the Reporting Teams Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Industrial Vehicles Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 Suppliers and Component Manufacturers
4.2.2 Manufacturers
4.2.3 Technology Providers
4.2.4 End Users
4.2.5 List of Vendors in the Value Chain
5. Asia Pacific Industrial Vehicles Market – Key Market Dynamics
5.1 Asia Pacific Industrial Vehicles Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Crucial Role of Industrial Vehicles in Shaping Modern Infrastructure and Economic Growth
5.2.2 Implementation of Stringent Anti-pollution Standards
5.2.3 Rise in Demand from Mining Industry
5.3 Market Restraints
5.3.1 Significant Initial, Operational and Maintenance Costs
5.4 Market Opportunities
5.4.1 Efficient, Safe, and Cost-effective Industrial Vehicles
5.4.2 Growth of E-commerce
5.5 Future Trends
5.5.1 Increasing Smart Manufacturing Factories
5.6 Impact of Drivers and Restraints:
6. Industrial Vehicles Market – Asia Pacific Market Analysis
6.1 Asia Pacific Industrial Vehicles Market Revenue (US$ Million), 2022 – 2030
6.2 Asia Pacific Industrial Vehicles Market Forecast Analysis
7. Asia Pacific Industrial Vehicles Market Analysis – by Vehicle Type
7.1 Forklifts
7.1.1 Overview
7.1.2 Forklifts: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Aisle Trucks
7.2.1 Overview
7.2.2 Aisle Trucks: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
7.3 Tow Tractors
7.3.1 Overview
7.3.2 Tow Tractors: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Container Handlers
7.4.1 Overview
7.4.2 Container Handlers: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Industrial Vehicles Market Analysis – by Drive Type
8.1 Internal Combustion Engine
8.1.1 Overview
8.1.2 Internal Combustion Engine: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
8.2 Battery-Operated
8.2.1 Overview
8.2.2 Battery-Operated: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
8.3 Gas-Powered
8.3.1 Overview
8.3.2 Gas-Powered: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Industrial Vehicles Market Analysis – by Level of Autonomy
9.1 Non/Semi Autonomous
9.1.1 Overview
9.1.2 Non/Semi Autonomous: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
9.2 Autonomous
9.2.1 Overview
9.2.2 Autonomous: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
10. Asia Pacific Industrial Vehicles Market Analysis – by Application
10.1 Manufacturing
10.1.1 Overview
10.1.2 Manufacturing: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
10.2 Warehousing
10.2.1 Overview
10.2.2 Warehousing: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
10.3 Others
10.3.1 Overview
10.3.2 Others: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
11. Asia Pacific Industrial Vehicles Market – Country Analysis
11.1 Asia Pacific
11.1.1 Asia Pacific Industrial Vehicles Market Overview
11.1.2 Asia Pacific: Industrial Vehicles Market – Revenue and Forecast Analysis – by Country
11.1.2.1 Asia Pacific: Industrial Vehicles Market – Revenue and Forecast Analysis – by Country
11.1.2.2 Australia: Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
11.1.2.2.1 Australia: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.2.2 Australia: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.2.3 Australia: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.2.4 Australia: Industrial Vehicles Market Breakdown, by Application
11.1.2.3 China: Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
11.1.2.3.1 China: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.3.2 China: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.3.3 China: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.3.4 China: Industrial Vehicles Market Breakdown, by Application
11.1.2.4 India: Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
11.1.2.4.1 India: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.4.2 India: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.4.3 India: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.4.4 India: Industrial Vehicles Market Breakdown, by Application
11.1.2.5 Japan: Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
11.1.2.5.1 Japan: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.5.2 Japan: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.5.3 Japan: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.5.4 Japan: Industrial Vehicles Market Breakdown, by Application
11.1.2.6 South Korea: Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
11.1.2.6.1 South Korea: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.6.2 South Korea: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.6.3 South Korea: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.6.4 South Korea: Industrial Vehicles Market Breakdown, by Application
11.1.2.7 Rest of Asia Pacific: Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
11.1.2.7.1 Rest of Asia Pacific: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.7.2 Rest of Asia Pacific: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.7.3 Rest of Asia Pacific: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.7.4 Rest of Asia Pacific: Industrial Vehicles Market Breakdown, by Application
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 Kion Group AG
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Toyota Industries Corp
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Mitsubishi Heavy Industries Ltd
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Komatsu Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Hyster-Yale Materials Handling Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Jungheinrich AG
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Crown Equipment Corp
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Konecranes Plc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Anhui Heli Co Ltd
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 About The the Reporting Teams

LIST OF TABLES

Table 1. Asia Pacific Industrial Vehicles Market Segmentation
Table 2. List of Vendors
Table 3. Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Table 4. Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million) – by Vehicle Type
Table 5. Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million) – by Drive Type
Table 6. Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million) – by Level Of Autonomy
Table 7. Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 8. Leading Countries in Manufacturing Sector:
Table 9. Asia Pacific: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Country
Table 10. Australia: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Vehicle Type
Table 11. Australia: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Drive Type
Table 12. Australia: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Level Of Autonomy
Table 13. Australia: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 14. China: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Vehicle Type
Table 15. China: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Drive Type
Table 16. China: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Level Of Autonomy
Table 17. China: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 18. India: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Vehicle Type
Table 19. India: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Drive Type
Table 20. India: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Level Of Autonomy
Table 21. India: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 22. Japan: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Vehicle Type
Table 23. Japan: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Drive Type
Table 24. Japan: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Level Of Autonomy
Table 25. Japan: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 26. South Korea: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Vehicle Type
Table 27. South Korea: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Drive Type
Table 28. South Korea: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Level Of Autonomy
Table 29. South Korea: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 30. Rest of Asia Pacific: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Vehicle Type
Table 31. Rest of Asia Pacific: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Drive Type
Table 32. Rest of Asia Pacific: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Level Of Autonomy
Table 33. Rest of Asia Pacific: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Application

LIST OF FIGURES

Figure 1. Asia Pacific Industrial Vehicles Market Segmentation, by Country
Figure 2. Impact Analysis of Drivers and Restraints
Figure 3. Asia Pacific Industrial Vehicles Market Revenue (US$ Million), 2022 – 2030
Figure 4. Asia Pacific Industrial Vehicles Market Share (%) – by Vehicle Type (2022 and 2030)
Figure 5. Forklifts: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 6. Aisle Trucks: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 7. Tow Tractors: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 8. Container Handlers: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Others: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Asia Pacific Industrial Vehicles Market Share (%) – by Drive Type (2022 and 2030)
Figure 11. Internal Combustion Engine: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Battery-Operated: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Gas-Powered: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Asia Pacific Industrial Vehicles Market Share (%) – by Level Of Autonomy (2022 and 2030)
Figure 15. Non/Semi Autonomous: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Autonomous: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Asia Pacific Industrial Vehicles Market Share (%) – by Application (2022 and 2030)
Figure 18. Manufacturing: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Warehousing: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. Others: Asia Pacific Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Figure 21. Asia Pacific Industrial Vehicles Market- Revenue by Key Countries 2022 (US$ Million)
Figure 22. Asia Pacific: Industrial Vehicles Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 23. Australia: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million)
Figure 24. China: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million)
Figure 25. India: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million)
Figure 26. Japan: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million)
Figure 27. South Korea: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million)
Figure 28. Rest of Asia Pacific: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million)