South & Central America 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 South & Central America industrial vehicles market was valued at US$ 2,890.06 million in 2022 and is expected to reach US$ 3,576.59 million by 2030; it is estimated to register at a CAGR of 2.7% from 2022 to 2030.
Implementation of Stringent Anti-pollution Standards Fuels South & Central America Industrial Vehicles Market
Stringent anti-pollution standards, such as European (Stage V) and North American (Tier 4 Final), are being implemented for industrial purpose across the globe. These standards, introduced on January 1, 2019, place additional restrictions on nitrogen oxide (NOx) and particulate pollutant emissions from non-road vehicles—including those used in agriculture, construction sites, and industrial settings. The driving force behind these regulations is the urgent need to address public health concerns, improve air quality, and mitigate the impact of vehicle emissions on climate change. One of the notable responses to these environmental challenges is the accelerated electrification of industrial vehicles. This shift toward electrification is driven by the imperative to meet the emission targets set by these stringent standards. Electric and hybrid alternatives are increasingly preferred where various site vehicles are used in the construction industry, including excavators, mobile cranes, diggers, and bulldozers, as well as agricultural vehicles such as tractors and combine harvesters.
Electric and hybrid industrial vehicles help manufacturers and operators comply with stringent emission standards. These vehicles produce significantly lower levels of NOx and particulate pollutants, aligning with the regulations set by Stage V in Europe and Tier 4 Final in North America. The reduction of harmful emissions from industrial vehicles contributes to the improvement of air quality, positively impacting public health. As urbanization continues to grow, the deployment of cleaner and more sustainable industrial vehicles becomes crucial for mitigating the impact of vehicle emissions on densely populated areas. Also, the rising awareness of environmental issues and the increasing emphasis on sustainability drive the demand for cleaner and more efficient industrial vehicles. Companies that prioritize environmentally friendly practices and comply with emission standards are likely to attract a broader customer base and secure long-term market viability. The transition to electric and hybrid alternatives not only ensures compliance with regulations but also aligns with the broader goals of improving air quality, addressing climate change, and meeting consumer preferences for sustainable practices. Thus, the implementation of stringent anti-pollution standards associated with industrial vehicles drives the market.
South & Central America Industrial Vehicles Market Overview
The rising demand for the material handling equipment and vehicles around the globe across the manufacturing sector drives the South & Central America 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.
South & Central America Industrial Vehicles Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Industrial Vehicles Market Segmentation
The South & Central America industrial vehicles market is segmented based on type, drive type, level of autonomy, application, and country.
Based on type, the South & Central America 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 South & Central America 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 South & Central America 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 South & Central America industrial vehicles market is segmented into manufacturing, warehousing, and others. The manufacturing segment held the largest share in 2022.
Based on country, the South & Central America industrial vehicles market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America 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 South & Central America 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. South & Central America 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
5. South & Central America Industrial Vehicles Market - Key Market Dynamics
5.1 South & Central America 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 - South & Central America Market Analysis
6.1 South & Central America Industrial Vehicles Market Revenue (US$ Million), 2022 - 2030
6.2 South & Central America Industrial Vehicles Market Forecast Analysis
7. South & Central America Industrial Vehicles Market Analysis - by Vehicle Type
7.1 Forklifts
7.1.1 Overview
7.1.2 Forklifts: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
7.2 Aisle Trucks
7.2.1 Overview
7.2.2 Aisle Trucks: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
7.3 Tow Tractors
7.3.1 Overview
7.3.2 Tow Tractors: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
7.4 Container Handlers
7.4.1 Overview
7.4.2 Container Handlers: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
8. South & Central America Industrial Vehicles Market Analysis - by Drive Type
8.1 Internal Combustion Engine
8.1.1 Overview
8.1.2 Internal Combustion Engine: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
8.2 Battery-Operated
8.2.1 Overview
8.2.2 Battery-Operated: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
8.3 Gas-Powered
8.3.1 Overview
8.3.2 Gas-Powered: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
9. South & Central America Industrial Vehicles Market Analysis - by Level of Autonomy
9.1 Non/Semi Autonomous
9.1.1 Overview
9.1.2 Non/Semi Autonomous: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
9.2 Autonomous
9.2.1 Overview
9.2.2 Autonomous: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
10. South & Central America Industrial Vehicles Market Analysis - by Application
10.1 Manufacturing
10.1.1 Overview
10.1.2 Manufacturing: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
10.2 Warehousing
10.2.1 Overview
10.2.2 Warehousing: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
10.3 Others
10.3.1 Overview
10.3.2 Others: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
11. South & Central America Industrial Vehicles Market - Country Analysis
11.1 South & Central America
11.1.1 South & Central America Industrial Vehicles Market Overview
11.1.2 South & Central America: Industrial Vehicles Market - Revenue and Forecast Analysis - by Country
11.1.2.1 South & Central America: Industrial Vehicles Market - Revenue and Forecast Analysis - by Country
11.1.2.2 Brazil: Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
11.1.2.2.1 Brazil: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.2.2 Brazil: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.2.3 Brazil: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.2.4 Brazil: Industrial Vehicles Market Breakdown, by Application
11.1.2.3 Argentina: Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
11.1.2.3.1 Argentina: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.3.2 Argentina: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.3.3 Argentina: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.3.4 Argentina: Industrial Vehicles Market Breakdown, by Application
11.1.2.4 Rest of South & Central America: Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
11.1.2.4.1 Rest of South & Central America: Industrial Vehicles Market Breakdown, by Vehicle Type
11.1.2.4.2 Rest of South & Central America: Industrial Vehicles Market Breakdown, by Drive Type
11.1.2.4.3 Rest of South & Central America: Industrial Vehicles Market Breakdown, by Level Of Autonomy
11.1.2.4.4 Rest of South & Central America: 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. South & Central America Industrial Vehicles Market Segmentation
Table 2. South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Table 3. South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million) - by Vehicle Type
Table 4. South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million) - by Drive Type
Table 5. South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million) - by Level Of Autonomy
Table 6. South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million) - by Application
Table 7. Leading Countries in Manufacturing Sector:
Table 8. South & Central America: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Country
Table 9. Brazil: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Vehicle Type
Table 10. Brazil: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Drive Type
Table 11. Brazil: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Level Of Autonomy
Table 12. Brazil: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Application
Table 13. Argentina: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Vehicle Type
Table 14. Argentina: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Drive Type
Table 15. Argentina: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Level Of Autonomy
Table 16. Argentina: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Application
Table 17. Rest of South & Central America: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Vehicle Type
Table 18. Rest of South & Central America: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Drive Type
Table 19. Rest of South & Central America: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Level Of Autonomy
Table 20. Rest of South & Central America: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million) - by Application
List of Figures
Figure 1. South & Central America Industrial Vehicles Market Segmentation, by Country
Figure 2. Impact Analysis of Drivers and Restraints
Figure 3. South & Central America Industrial Vehicles Market Revenue (US$ Million), 2022 - 2030
Figure 4. South & Central America Industrial Vehicles Market Share (%) - by Vehicle Type (2022 and 2030)
Figure 5. Forklifts: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 6. Aisle Trucks: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 7. Tow Tractors: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 8. Container Handlers: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 9. Others: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 10. South & Central America Industrial Vehicles Market Share (%) - by Drive Type (2022 and 2030)
Figure 11. Internal Combustion Engine: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 12. Battery-Operated: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 13. Gas-Powered: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 14. South & Central America Industrial Vehicles Market Share (%) - by Level Of Autonomy (2022 and 2030)
Figure 15. Non/Semi Autonomous: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 16. Autonomous: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 17. South & Central America Industrial Vehicles Market Share (%) - by Application (2022 and 2030)
Figure 18. Manufacturing: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 19. Warehousing: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 20. Others: South & Central America Industrial Vehicles Market - Revenue and Forecast to 2030 (US$ Million)
Figure 21. Middle East and Africa Industrial Vehicles Market- Revenue by Key Countries 2022 (US$ Million)
Figure 22. South & Central America: Industrial Vehicles Market Breakdown, by Key Countries, 2022 and 2030 (%)
Figure 23. Brazil: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million)
Figure 24. Argentina: Industrial Vehicles Market - Revenue and Forecast to 2030(US$ Million)
Figure 25. Rest of South & Central America: 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 South & Central America 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 South & Central America 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 South & Central America 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.