Middle East & Africa Industrial Vehicles Market Forecast to 2030

At 4.5% CAGR, Middle East & Africa Industrial Vehicles Market is Speculated to be Worth US$ 5,756.30 Million by 2030, says the Research Team

According to the Research Team’ research, the Middle East & Africa industrial vehicles market was valued at US$ 4,060.06 million in 2022 and is expected to reach US$ 5,756.30 million by 2030, registering a CAGR of 4.5% from 2022 to 2030. Efficient, safe, and cost-effective industrial vehicles and growth of e-commerce are among the critical factors attributed to the Middle East & Africa industrial vehicles market expansion.

The integration of autonomous industrial vehicles such as autonomous industrial vehicles (IVs) represents a transformative phase in the industrial vehicle market, fueled by improved efficiency, reduced maintenance costs, and enhanced safety records. Autonomous industrial vehicles, operating within geofenced topographies and adhering to specific rules, address one of the persistent challenges in industrial vehicle operations-wear and tear. Unlike human operators, whose driving habits can vary significantly, autonomous vehicles follow prescribed actions, minimizing the potential for routing errors, reducing wear on critical components, and improving the overall asset lifetime. Komatsu, a key player in this space, reports that its autonomous solutions have the potential to improve tire and brake life by up to 40%-which can lead to the widespread adoption of autonomous technology. Similarly, Telematics, a crucial component of autonomous trucks, relies on internet-connected sensors to monitor vehicle performance in real time. This constant feedback loop allows for proactive adjustments, ensuring that vehicles operate at optimal levels. By leveraging telematics, industrial vehicles can experience a significant reduction in error and unnecessary movement, potentially extending their lifespan by up to 50%. This not only promotes sustainability but also presents a compelling economic case for companies looking to maximize the return on their industrial vehicle investments.

The implementation of autonomous industrial vehicles in real-world applications continues to be successful. Resolute Mining’s debut of the world’s first fully autonomous underground gold mine in 2019 showcased the broader applicability of autonomous technology. By employing a completely autonomous operations, Resolute Mining achieved a substantial reduction in the mine’s total cost of gold production-US$ 135 per ounce-and reduced operating expenses by 30%. These outcomes highlight the transformative potential of autonomous technology in optimizing operational efficiency and cost-effectiveness.

Thus, various industries are witnessing potential for extended asset lifetimes, improved safety records, and significant cost savings, which are likely to present lucrative opportunities for manufacturers and stakeholders operating in the industrial vehicle market during the forecast period.

On the contrary, significant initial, operational and maintenance costs hamper the growth of Middle East & Africa industrial vehicles market.

Based on type, the Middle East & Africa industrial vehicles market is segmented into forklifts, aisle trucks, tow tractors, container handlers, and others. The forklifts segment held 28.3% share of the Middle East & Africa industrial vehicles market in 2022, amassing US$ 1,148.21 million. It is projected to garner US$ 1,670.06 million by 2030 to expand at 4.8% CAGR during 2022-2030.

In terms of drive type, the Middle East & Africa industrial vehicles market is segmented into internal combustion engine, battery-operated, and gas-powered. The battery-operated segment held 59.9% share of the Middle East & Africa industrial vehicles market in 2022, amassing US$ 2,431.75 million. It is estimated to garner US$ 3,718.31 million by 2030 to expand at 5.5% CAGR during 2022-2030.

By level of autonomy, the Middle East & Africa industrial vehicles market is bifurcated into non/semi-autonomous and autonomous. The non/semi-autonomous segment held 64.1% share of Middle East & Africa industrial vehicles market in 2022, amassing US$ 2,601.87 million. It is predicted to garner US$ 3,397.18 million by 2030 to expand at 3.4% CAGR during 2022-2030.

Based on application, the Middle East & Africa industrial vehicles market is segmented into manufacturing, warehousing, and others. The manufacturing segment held 52.3% share of the Middle East & Africa industrial vehicles market in 2022, amassing US$ 2,122.26 million. It is projected to garner US$ 3,028.64 million by 2030 to expand at 4.5% CAGR during 2022-2030.

Based on country, the Middle East & Africa industrial vehicles market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia held 36.6% share of Middle East & Africa industrial vehicles market in 2022, amassing US$ 1,485.27 million. It is projected to garner US$ 2,125.45 million by 2030 to expand at 4.6% CAGR during 2022-2030.

Key players operating in the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa 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. Middle East & Africa 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. Middle East & Africa Industrial Vehicles Market – Key Market Dynamics
5.1 Middle East & Africa 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 – Middle East & Africa Market Analysis
6.1 Middle East & Africa Industrial Vehicles Market Revenue (US$ Million), 2022 – 2030
6.2 Middle East & Africa Industrial Vehicles Market Forecast Analysis
7. Middle East & Africa Industrial Vehicles Market Analysis – by Vehicle Type
7.1 Forklifts
7.1.1 Overview
7.1.2 Forklifts: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
7.2 Aisle Trucks
7.2.1 Overview
7.2.2 Aisle Trucks: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
7.3 Tow Tractors
7.3.1 Overview
7.3.2 Tow Tractors: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Container Handlers
7.4.1 Overview
7.4.2 Container Handlers: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa Industrial Vehicles Market Analysis – by Drive Type
8.1 Internal Combustion Engine
8.1.1 Overview
8.1.2 Internal Combustion Engine: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
8.2 Battery-Operated
8.2.1 Overview
8.2.2 Battery-Operated: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
8.3 Gas-Powered
8.3.1 Overview
8.3.2 Gas-Powered: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
9. Middle East & Africa Industrial Vehicles Market Analysis – by Level of Autonomy
9.1 Non/Semi Autonomous
9.1.1 Overview
9.1.2 Non/Semi Autonomous: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
9.2 Autonomous
9.2.1 Overview
9.2.2 Autonomous: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
10. Middle East & Africa Industrial Vehicles Market Analysis – by Application
10.1 Manufacturing
10.1.1 Overview
10.1.2 Manufacturing: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
10.2 Warehousing
10.2.1 Overview
10.2.2 Warehousing: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
10.3 Others
10.3.1 Overview
10.3.2 Others: Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
11. Middle East & Africa Industrial Vehicles Market – Country Analysis
11.1 Middle East & Africa
11.1.1 Middle East & Africa Industrial Vehicles Market Overview
11.1.2 Middle East & Africa: Industrial Vehicles Market – Revenue and Forecast Analysis – by Country
11.1.2.1 Middle East & Africa: Industrial Vehicles Market – Revenue and Forecast Analysis – by Country
11.1.2.2 South Africa: Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
11.1.2.2.1 South Africa: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.2.2 South Africa: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.2.3 South Africa: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.2.4 South Africa: Industrial Vehicles Market Breakdown, by Application
11.1.2.3 Saudi Arabia: Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
11.1.2.3.1 Saudi Arabia: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.3.2 Saudi Arabia: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.3.3 Saudi Arabia: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.3.4 Saudi Arabia: Industrial Vehicles Market Breakdown, by Application
11.1.2.4 UAE: Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
11.1.2.4.1 UAE: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.4.2 UAE: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.4.3 UAE: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.4.4 UAE: Industrial Vehicles Market Breakdown, by Application
11.1.2.5 Rest of Middle East & Africa: Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
11.1.2.5.1 Rest of Middle East & Africa: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.5.2 Rest of Middle East & Africa: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.5.3 Rest of Middle East & Africa: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.5.4 Rest of Middle East & Africa: 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. Middle East & Africa Industrial Vehicles Market Segmentation
Table 2. List of Vendors
Table 3. Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million)
Table 4. Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million) – by Vehicle Type
Table 5. Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million) – by Drive Type
Table 6. Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million) – by Level Of Autonomy
Table 7. Middle East & Africa Industrial Vehicles Market – Revenue and Forecast to 2030 (US$ Million) – by Application
Table 8. Middle East & Africa: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Country
Table 9. South Africa: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Vehicle Type
Table 10. South Africa: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Drive Type
Table 11. South Africa: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Level Of Autonomy
Table 12. South Africa: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 13. Saudi Arabia: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Vehicle Type
Table 14. Saudi Arabia: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Drive Type
Table 15. Saudi Arabia: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Level Of Autonomy
Table 16. Saudi Arabia: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 17. UAE: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Vehicle Type
Table 18. UAE: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Drive Type
Table 19. UAE: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Level Of Autonomy
Table 20. UAE: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Application
Table 21. Rest of Middle East & Africa: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Vehicle Type
Table 22. Rest of Middle East & Africa: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Drive Type
Table 23. Rest of Middle East & Africa: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Level Of Autonomy
Table 24. Rest of Middle East & Africa: Industrial Vehicles Market – Revenue and Forecast to 2030(US$ Million) – by Application

LIST OF FIGURES

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