Middle East & Africa Industrial Vehicles Market Forecast to 2030 - Regional Analysis - by Type (Forklifts, Aisle Trucks, Tow Tractors, Container Handlers, and Others), Drive Type (Internal Combustion Engine, Battery-Operated, and Gas-Powered), Level of Autonomy (Non/Semi-autonomous and Autonomous), and Application (Manufacturing, Warehousing, and Others)
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; it is estimated to register at a CAGR of 4.5% from 2022 to 2030.
Crucial Role of Industrial Vehicles in Shaping Modern Infrastructure and Economic Growth Bolsters Middle East & Africa Industrial Vehicles Market
The modern economic landscape relies heavily on an expansive and intricate infrastructure network. This infrastructure encompasses a wide spectrum, ranging from the construction of roads and bridges to the efficient functioning of freight trains, cargo ships, internet provision, and electrical grids. As urban centers undergo rapid expansion, the demand for infrastructural development is also increasing.
The growth in industrial vehicle demand is also driven by the thriving global construction market, which amounted to US$ 7.3 trillion in 2021; the figure is projected to double by 2030. Furthermore, there is a surge in construction activities, and the emphasis on enhancing operational efficiency on worksites has emerged as a paramount priority for major industry players worldwide. This shift toward improving efficiency is due to an increased focus on the development of technologically advanced industrial vehicles equipped with features such as GPS tracking, autonomous capabilities, and telematics. Such innovations enhance the overall efficiency of construction and logistics operations.
There is a rise in urbanization and infrastructure projects in various countries across the globe, which leads to continuous demand for industrial machinery, construction equipment, and specialized vehicles to navigate the intricate needs of modern infrastructure development. Thus, industrial vehicles play a crucial role in shaping modern infrastructure and economic growth, which drives the market for industrial vehicles.
Middle East & Africa Industrial Vehicles Market Overview
The rising demand for the material handling equipment and vehicles around the globe across the manufacturing sector drives the Middle East & Africa industrial vehicles market growth. According to the World Industrial Vehicle Statistics Association (WITS), more than 2.34 million material-handling vehicles and equipment sales were recorded during 2021. The material handling industry saw a 43.0% increase in orders in 2021 compared to the previous year, 2020. Among the 2.34 million material handling units, around 68.8%, that is 1.61 million units, were recorded as electric-powered forklifts. Electric forklift demand is increasing at a rapid pace with a surge in consumer popularity. With a surge in the number of orders, the demand for industrial vehicles such as forklifts, aisle trucks, and pallet trucks has increased.
The Middle East & Africa industrial vehicles market is driven by increasing investment in the warehouse & packaging industry, along with a significant rise in online shopping. In the Gulf States, the e-commerce industry was valued at ~US$ 32.85 billion in 2023 and is projected to register a CAGR of 11% from 2023 to 2027, reaching US$ 49.78 billion by 2027. Such growth in the e-commerce sector has created a massive demand for industrial vehicles in this region.
Middle East & Africa Industrial Vehicles Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Industrial Vehicles Market Segmentation
The Middle East & Africa industrial vehicles market is segmented based on type, drive type, level of autonomy, application, and country.
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 the largest share in 2022.
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 the largest share in 2022.
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 a larger share in 2022.
Based on application, the Middle East & Africa industrial vehicles market is segmented into manufacturing, warehousing, and others. The manufacturing segment held the largest share in 2022.
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 dominated the Middle East & Africa industrial vehicles market in 2022.
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 are some of the leading companies operating in the Middle East & Africa industrial vehicles market.
TABLE OF CONTENTS
1. Introduction
1.1 The Insight Partners 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 Insight Partners
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)
1. Kion Group AG
2. Toyota Industries Corp
3. Mitsubishi Heavy Industries Ltd
4. Komatsu Ltd
5. Hyster-Yale Materials Handling Inc
6. Jungheinrich AG
7. Crown Equipment Corp
8. Konecranes Plc
9. Anhui Heli Co Ltd
- 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.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- 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.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.