General Construction Products & Machinery

Industrial Trucks: Market Size, Growth & Forecast to 2030

The Industrial Trucks market is valued at about $48.7 billion (2026) and is projected to grow at a 4.8% CAGR through 2030. The largest cost driver is Steel and iron castings (30% of spend). Asia Pacific leads demand at 45%.

Market size
$48.7 bn (2026)
CAGR to 2030
+4.8%
Buyer power
Favours buyers
Tracked suppliers
35
Projected market growth (index, 2026 = 100)
Base year 2026
Official data · Claight projectionForecast
Market size index, 2026 = 100, at the 4.8% CAGR.
Forecast
2026
2027
2028
2029
2030
2031
2026 base: 1002031 est: 126

Cost structure

Steel and iron castings
30%
Electric powertrains and batteries
25%
Manufacturing labor and robotics
20%
Base metals and wiring components
15%
Polymers and polyurethanes
10%

Regional demand split

Asia Pacific demand
45%
Europe demand
23%
North America demand
21%
Latin America demand
6%
Rest of world demand
5%

Key suppliers

Toyota Industries Corporation (TMHE)KION GroupJungheinrich AGHyster-Yale Materials HandlingCrown Equipment Corporation
Read the full Industrial Trucks report →

Claight market analysis of proprietary and public data. Full report: /category-intelligence/industrial-trucks