Industrial Electric Vehicles Market Size, Share & Trends Analysis Report By Product Type (Automated Guided Carts, Automated Tow Tractor, Autonomous Mobile Robots, Automated Guided Forklift), By Region, And Segment Forecasts, 2023 - 2030

Industrial Electric Vehicles Market Size, Share & Trends Analysis Report By Product Type (Automated Guided Carts, Automated Tow Tractor, Autonomous Mobile Robots, Automated Guided Forklift), By Region, And Segment Forecasts, 2023 - 2030


Industrial Electric Vehicles Market Growth & Trends

The global industrial electric vehicles market size is expected to reach USD 15.80 billion by 2030, according to a new report by Grand View Research, Inc. The industry is anticipated to grow at a lucrative CAGR of 14.0% from 2023 to 2030. This surge can be attributed to the increasing demand for automation in various manufacturing, warehousing, and logistics industries. Industrial electric vehicles are preferred for their efficiency and environmental friendliness compared to traditional gasoline-powered vehicles.

The industrial sector is increasingly adopting electric vehicles due to their environmental benefits and operational advantages. Additionally, with the growth of Industry 4.0, robotics and smart manufacturing are increasingly used in the industrial sector. For instance, in February 2023, DBA Brightpick, a warehouse automation solutions provider for order fulfillment, launched Brightpick Autopicker, an autonomous mobile picking robot. The new autonomous mobile picking robot is the only warehouse robot competent in picking and consolidating aisle orders.

Industrial vehicles, including forklifts, AGVs, AMRs, and other heavy machinery, hold pivotal roles across diverse industries. These vehicles are designed to operate with efficiency and speed, thereby enhancing overall productivity by minimizing the time and effort needed for manual labor. Safety is a paramount concern in industrial settings, and industrial vehicles often come equipped with safety features, offering operators the ability to minimize risks to workers. While there is an initial investment involved in acquiring and maintaining these vehicles, they can lead to substantial long-term cost savings by improving efficiency, reducing labor expenses, and mitigating accident risks. The precision and control offered by industrial vehicles make them essential for tasks that demand accuracy and consistency, particularly in industries like manufacturing, construction, and logistics.

The utilization of industrial electric vehicles, such as AGVs and AMRs, in the e-commerce sector offers significant advantages. These vehicles ease workloads, enhance operational efficiencies, and boost productivity by taking on repetitive and physically demanding tasks handled by human workers in e-commerce warehouses. AGVs and AMRs can be programmed to execute specific tasks and follow precise routes, streamlining and optimizing warehouse operations. They can operate continuously, resulting in increased throughput and productivity. Their precision and efficiency contribute to error reduction and improved order fulfillment rates. Specialized software tools play a crucial role in programming vehicle paths, monitoring material movement in supply chain processes, and ensuring efficient and timely warehouse material flow.

Industrial Electric Vehicles Market Report Highlights
  • Based on product, the autonomous mobile robots segment led the market in 2022, accounting for over 53% share of the global revenue. The growth is attributed to the increasing adoption of automation in the manufacturing and logistics industries
  • Manufacturers are raising funds to strengthen their research and development activities. For instance, in July 2021, Covariant, a U.S.-based AI-enabled robots provider, raised USD 80 million in Series C funding. The funding amount would be used to build robotics and AI research and development as the company is expanding globally
  • Europe dominated the market and accounted for a revenue share of 29% in 2022. This high share is attributable to the increasing demand for material handling equipment by the manufacturing industry incumbents. Furthermore, process automation in every industry has also stimulated the market's growth in this region
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Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope and Assumptions
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Gvr's Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage
3.2. Industry Value Chain Analysis
3.3. Industrial Electric Vehicles Market - Market Dynamics
3.3.1. Market Driver Analysis
3.3.1.1. Increasing Demand For Automation And Material Handling Equipment In Various Process Industries
3.3.1.2. Replacement Of Conventional Batteries With Lithium-Ion Batteries
3.3.1.3. Rapidly Growing E-Commerce Industry
3.3.2. Market Restraint Analysis
3.3.2.1. High Initial Cost.
3.3.3. Industry Challenges
3.4. Business Environmental Tools Analysis: Industrial Electric Vehicles Market
3.4.1. Porter's Five Forces Analysis
3.4.1.1. Bargaining Power of Suppliers
3.4.1.2. Bargaining Power of Buyers
3.4.1.3. Threat of Substitution
3.4.1.4. Threat of New Entrants
3.4.1.5. Competitive Rivalry
3.4.2. PESTLE ANALYSIS
3.4.2.1. Political Landscape
3.4.2.2. Economic Landscape
3.4.2.3. Social Landscape
3.4.2.4. Technology Landscape
3.4.2.5. Environmental Landscape
3.4.2.6. Legal Landscape
3.5. Economic Mega Trend Analysis
Chapter 4. Industrial Electric Vehicles Market: Product Type Estimates & Trend Analysis
4.1. Industrial Electric Vehicles Market, by Product Type: Key Takeaways
4.2. Industrial Electric Vehicles Market: Product Type Movement Analysis, 2022 & 2030
4.3. Automated Guided Carts
4.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
4.4. Automated Tow Tractor
4.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
4.5. Autonomous Mobile Robots
4.5.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
4.6. Automated Guided Forklift
4.6.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 5. Industrial Electric Vehicles Market: Regional Estimates & Trend Analysis
5.1. Industrial Electric Vehicles Market: Regional Movement Analysis, 2022 & 2030
5.2. North America
5.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.2.2. U.S.
5.2.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.2.3. Canada
5.2.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.3. Europe
5.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.3.2. Germany
5.3.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.3.3. France
5.3.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.3.4. U.K.
5.3.4.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.4. Asia Pacific
5.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.4.2. China
5.4.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.4.3. Japan
5.4.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.4.4. India
5.4.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.4.5. South Korea
5.4.5.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.4.6. Australia
5.4.6.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.5. Latin America
5.5.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.5.2. Brazil
5.5.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.5.3. Mexico
5.5.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.6. Middle East & Africa
5.6.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
5.6.2. KSA
5.6.2.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.6.3. UAE
5.6.3.1. Market estimates and forecasts, 2017 - 2030 (USD Million)
5.6.4. South Africa
5.6.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 6. Competitive Landscape
6.1. Company Categorization
6.2. Company Market Positioning
6.3. Company Heat Map Analysis
6.4. Strategy Mapping
6.4.1. Expansion
6.4.2. Mergers & Acquisition
6.4.3. Partnerships & Collaborations
6.4.4. New Product Launches
6.4.5. Research & Development
6.5. Company Profiles/Listing
6.5.1. SWISSLOG HOLDING AG
6.5.1.1. Overview
6.5.1.2. Financial Performance
6.5.1.3. Product Benchmarking
6.5.2. DEMATIC
6.5.2.1. Overview
6.5.2.2. Financial Performance
6.5.2.3. Product Benchmarking
6.5.3. DAIFUKU CO., LTD.
6.5.3.1. Overview
6.5.3.2. Financial Performance
6.5.3.3. Product Benchmarking
6.5.4. BASTIAN SOLUTIONS, INC.
6.5.4.1. Overview
6.5.4.2. Financial Performance
6.5.4.3. Product Benchmarking
6.5.5. TOYOTA INDUSTRIES CORPORATION
6.5.5.1. Overview
6.5.5.2. Financial Performance
6.5.5.3. Product Benchmarking
6.5.6. HYSTER-YALE MATERIALS HANDLING, INC.
6.5.6.1. Overview
6.5.6.2. Financial Performance
6.5.6.3. Product Benchmarking
6.5.7. JOHN BEAN TECHNOLOGIES CORPORATION (JBT)
6.5.7.1. Overview
6.5.7.2. Financial Performance
6.5.7.3. Product Benchmarking
6.5.8. BALYO
6.5.8.1. Overview
6.5.8.2. Financial Performance
6.5.8.3. Product Benchmarking
6.5.9. SEEGRID CORPORATION
6.5.9.1. Overview
6.5.9.2. Financial Performance
6.5.9.3. Product Benchmarking
6.5.10. KUKA AG
6.5.10.1. Overview
6.5.10.2. Financial Performance
6.5.10.3. Product Benchmarking
6.5.11. JUNGHEINRICH AG
6.5.11.1. Overview
6.5.11.2. Financial Performance
6.5.11.3. Product Benchmarking
6.5.12. SCHAEFER HOLDING INTERNATIONAL GMBH
6.5.12.1. Overview
6.5.12.2. Financial Performance

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