Connect with us
European Gaming Congress 2024

Uncategorized

Industrial Vehicles Market worth USD 64.3 billion by 2030 – Exclusive Report by MarketsandMarkets™

Published

on

industrial-vehicles-market-worth-usd-64.3-billion-by-2030-–-exclusive-report-by-marketsandmarkets™

 
Industrial Vehicles Market size is projected to grow from USD 49.2 billion in 2024 to USD 64.3 billion by 2030, at a CAGR of 4.6%, according to a new report by MarketsandMarkets. Government investments in infrastructure development projects are fuelling the growth of the industrial vehicles market on a global scale. Initiatives aimed at modernizing transportation networks, constructing new warehouses, and enhancing logistics capabilities require a robust fleet of industrial vehicles for efficient material handling and transportation operations. As regions prioritize infrastructure improvements to bolster economic growth, the demand for industrial vehicles, including tow tractors and container handlers, is steadily increasing.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=164686137
Browse in-depth TOC on “Industrial Vehicles Market“344 – Tables93 – Figures366 – Pages
Industrial Vehicles Market Scope:

Report Coverage

Details

Market Size

USD 64.3 billion by 2030

Advertisement

Growth Rate

CAGR of 4.6%

Largest Market

Asia Pacific

Market Dynamics

Advertisement

Drivers, Restraints, Opportunities & Challenges

Forecast Period

2024-2030

Forecast Units

Value (USD Billion)

Advertisement

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Vehicle Type (Forklifts, Aisle Trucks, Tow Tractors, Container Handlers), Drive Type (ICE, Battery-operated, Gas-powered), Application, Capacity, Level of Autonomy, & Region

Geographies Covered

Advertisement

Asia Pacific, Europe, North America, and Rest of the World

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Emergence of rental and leasing in the industrial vehicles sector

Advertisement

Key Market Drivers

E-commerce expansion and warehousing dynamics

Aisle trucks segment is anticipated to show the fastest growth in the global industrial vehicles market.
During the forecast period, the aisle truck market will experience the highest compound annual growth rate (CAGR) in volume. Asia Pacific is anticipated to hold a significant market share. In this region, the aisle truck segment of the industrial vehicles market is propelled by the manufacturing and industrial sectors, notably in industries such as automotive, oil & gas, and energy & utilities. Many industries, including food & beverages, electronics, and automobiles, necessitate large-scale deployment of material handling equipment like aisle trucks to ensure efficient warehouse and factory operations. In April 2023, Toyota Material Handling, a subsidiary of Toyota Industries Corporation (Japan), announced two additional models within its Very Narrow Aisle (VNA) truck series: the Toyota BT Vector VCE100A and VCE120A. These introductions feature an enhanced and modernized ergonomic operator compartment, incorporating intuitive controls and an interactive color touchscreen.
The healthcare application segment has promising avenues in the global industrial vehicles market.
In the healthcare sector, there is a growing adoption of non/semi-autonomous and autonomous forklifts for the hygienic and secure movement of pharmaceutical products, assembly of medical devices, and sorting and control of expired products. Integrating artificial intelligence (AI) and machine learning is expected to transform interactions between humans and machines, enhance drug recovery processes, and facilitate risk analytics applications. The ongoing digitalization is anticipated to bring substantial changes to hospital operations. As a result, there is an increased need for efficient handling of medical equipment and medicines, coupled with strict regulations imposed by the Food and Drug Administration (FDA), further driving the demand for autonomous industrial vehicles.
Autonomous industrial vehicles find applications in the healthcare industry’s manufacturing, distribution, and warehousing processes, specifically for diagnostic instruments, testing instruments, and surgical devices. This trend is expected to propel the global industrial vehicles industry in the foreseeable future. Companies such as Daifuku Co., Ltd, JBT, Kion Group AG, Toyota Industries Corporation, and Kuka AG, among others, provide AGVs tailored for healthcare. For instance, in April 2023, EK Robotics GmbH unveiled MEDI MOVE, a transport platform explicitly designed for automated transport systems in hospitals within the healthcare industry.
Germany to lead the industrial vehicles market in Europe.
During the forecast period, Germany is poised to lead as the fastest growing and largest market for industrial vehicles in Europe, driven by several key factors. Germany’s robust industrial landscape, particularly in manufacturing, automotive, and logistics, propels industrial vehicle demand. Moreover, major players such as KION Group AG (Germany) and Jungheinrich AG (Germany), who are actively expanding their business within Germany and internationally, significantly influence market growth. For example, in February 2023, KION Group AG announced that it is building a new spare parts and solutions distribution center near Aschaffenburg, Germany, for industrial trucks and services along with supply chain solutions segments of the company. Such development, like establishing distribution centers, is a testament to Germany’s expanding industrial vehicles market. Additionally, Germany’s stringent safety standards and emphasis on operational efficiency further drive the country’s adoption of industrial vehicles. With these favorable market conditions, Germany remains poised to maintain prominence in the European industrial vehicles market.
Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=164686137
Key Market Players:
The major players in Industrial Vehicles Companies include Toyota Industries Corporation (Japan), KION Group AG (Germany), Mitsubishi Logisnext Co., Ltd (Japan), Jungheinrich AG (Germany), Crown Equipment Corporation (US), and Hyster-Yale Materials Handling, Inc. (US), among others.
Recent Developments
In March 2024, EP Equipment (China) announced that Boendgen Baustoffe (Germany) purchased the EFL electric forklift series to upgrade its fleet.
In January 2024, Hyster-Yale Materials Handling, Inc. (US) launched the J32-40UTTL Li-Ion forklift truck. The new electric truck has a load-carrying capacity of 1.4 to 1.8 tons.
In December 2023, Konecranes (Finland) announced that it had supplied 7 Konecranes SMV 16-1200 C (16 ton) forklifts to Eldorado Brasil (Brazil) along with two gantry cranes in Q3 of 2023.
In September 2023, Marvell announced the plans for a new R&D center in Pune, India. This upcoming establishment is expected to double the current workforce capacity.
In November 2023, KION Group AG announced the launch of 24-volt Fuel Cell Systems for its warehouse trucks. The company added that up to 5,000 fuel cell systems can be produced yearly at the Hamburg plant. The company has invested around USD 11.9 Million in this project.
In September 2023, Toyota Material Handling Japan (TMHJ), a segment of Toyota Industries Corporation, introduced a new fuel cell lift truck (FC lift truck).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=164686137 
Browse Adjacent Market: Automotive and Transportation Market Research Reports & Consulting
Related Reports:
Construction Equipment Market – Global Forecast to 2030
Farm Equipment Market – Global Forecast to 2028
Electric Construction Equipment Market – Global Forecast to 2030
Autonomous Forklift Market – Global Forecast to 2028
The post Industrial Vehicles Market worth USD 64.3 billion by 2030 – Exclusive Report by MarketsandMarkets™ appeared first on HIPTHER Alerts.

Continue Reading
Advertisement

Uncategorized

Prime Minister concludes successful visit from President of France to Canada

Published

on

prime-minister-concludes-successful-visit-from-president-of-france-to-canada

 
The Prime Minister, Justin Trudeau, welcomed the President of France, Emmanuel Macron, to Canada from September 25 to 26, 2024. With stops in Ottawa, Ontario, and Montréal, Quebec, the visit helped further strengthen the close ties between our countries and advance our shared priorities.
The leaders announced three key declarations that will align Canada and France’s work to preserve peace and security, take ambitious climate action, protect the environment, and responsibly harness the full potential of artificial intelligence (AI).
The first of these three declarations, the Canada-France Declaration on a Stronger Defence and Security Partnership, underscores Canada and France’s steadfast commitment to supporting Ukraine in the face of Russia’s illegal invasion. It also reaffirms our contributions to regional stability and security in the Indo-Pacific and reflects our co-operation in managing emergencies, modernizing our armed forces, and combatting foreign interference.
The two leaders discussed shared, ongoing work to respond to the humanitarian situation in Haiti and reiterated their support for the United Nations-authorized Multinational Security Support mission in the country. Canada and France are in steadfast support of Haitian-led solutions to the conflict that will make a meaningful and lasting difference in the lives of the Haitian people – and build a better future.
Building on the progress made at the United Nations General Assembly and the Summit of the Future earlier this week, Prime Minister Trudeau and President Macron highlighted the critical importance of continued action to fight climate change and protect our oceans. In the Canada-France Declaration on the Ocean, the leaders underlined the vital role that oceans play for the environment, the climate, the economy, and food and energy security throughout the world. To advance our work, Prime Minister Trudeau announced Canada’s membership in the Paris Pact for People and the Planet. The Pact, led by France and in partnership with global leaders, emphasizes collective action to accelerate sustainable development and create opportunities to help lift vulnerable populations out of poverty.
During the visit, the Prime Minister and the President met with AI experts, entrepreneurs, and industry leaders to discuss the risks and benefits of this new technology. Canada and France have world-leading AI ecosystems, including leadership roles in the Global Partnership on Artificial Intelligence (GPAI), which has 29 members worldwide. A testament to our progress in growing a dynamic AI industry, GPAI’s first two centres of expertise opened in Canada and France. Moving forward on this work, the Prime Minister and the President announced the Canada-France Declaration on Artificial Intelligence. The Declaration reiterates our countries’ commitment to a safe use of AI that respects human rights and democratic values.
During President Macron’s visit, Canada was also named Country of the Year for the Viva Technology 2025 technology conference, which will be held in Paris next year. At this event, Canada’s delegation will collaborate with the international community and meet with thousands of visionary start-ups, investors, organizations, and researchers to leverage advances in AI to strengthen our economy, increase productivity, and create new opportunities for Canadians. SCALE AI, Canada’s Global Innovation Cluster dedicated to AI, will lead Canada’s business delegation.
Prime Minister Trudeau and President Macron reaffirmed their commitment to promoting the French language and La Francophonie’s institutions ahead of the next Sommet de la Francophonie, which will be held in Villers-Cotterêts and Paris, France, on October 4 and 5, 2024. They also renewed their commitment to strengthening strategic coordination in preparation for the successive G7 Presidencies that Canada and France will hold, in 2025 and 2026 respectively.
Quote“Canada and France’s relationship is built on shared history, a common language, and democratic values. President Macron’s visit to Canada is a testament to the enduring friendship between our two countries, and with the progress we have made over this visit, we will move forward to build a fairer and more prosperous future for our peoples.”— The Rt. Hon. Justin Trudeau, Prime Minister of Canada
Quick Facts

This was President Macron’s second visit to Canada. It followed both leaders’ participation in the United Nations General Assembly and Summit of the Future in New York City, United States of America.
As a permanent member of the United Nations Security Council, the North Atlantic Treaty Organization (NATO), the G7 and the G20, a founding member of the European Union, and a key partner in the Organisation internationale de la Francophonie, France is a key ally for Canada on the international stage.
In 2023, France was Canada’s third largest merchandise export market in the European Union, and its 12th largest trade partner globally, with two-way merchandise trade totalling $12.9 billion.
That same year, Canadian exports to France amounted to $4.3 billion, while imports from France totalled $8.7 billion.
In France, Canada is represented by an embassy in Paris and consulates in Lyon, Nice, and Toulouse. France is represented in Canada by its embassy in Ottawa and consulates in Vancouver, Toronto, Montréal, Québec, and Moncton.

Related Products

Joint statement by Prime Minister Trudeau and President Macron
Canada-France Declaration on a Stronger Defence and Security Partnership
Canada-France Declaration on the Ocean
Canada-France Declaration on Artificial Intelligence

The post Prime Minister concludes successful visit from President of France to Canada appeared first on HIPTHER Alerts.

Advertisement
Continue Reading

Uncategorized

Relativity Spotlights Legal Industry Leaders at the 2024 Innovation Awards

Published

on

relativity-spotlights-legal-industry-leaders-at-the-2024-innovation-awards

 
Relativity, a global legal technology company, today announced the winners of this year’s Innovation Awards at Relativity Fest. The Innovation Awards celebrate the trailblazing individuals and teams building custom solutions, empowering their peers and forging new paths to improve the legal industry and its communities.
“Another year of the Innovation Awards signals another opportunity to celebrate our community’s dedication to making a positive impact– whether that be through developing new solutions, providing excellent customer service, or elevating and advocating for their peers in the legal industry,” said Laurie Usewicz, Chief Partner Officer at Relativity. “This year’s winners exemplify the impassioned and innovative spirit that makes the future of our industry a bright one.”
The winners hail from, or work directly with law firms, financial institutions and consultant management companies large and small, private and public. Through a combined process of a judging committee and a community vote, Best Innovation winners are selected based on how they’ve leveraged the Relativity application programming interfaces in creative ways to solve Relativity’s customers’ most unique challenges.
In addition to the standard six individual and two Best Innovation awards, a new Best Innovation category was added for this year, Developer Partner. This award recognizes solutions created by Relativity’s independent software vendor (ISV) community that are offered directly to customers. Eligibility is restricted to solutions that are not owned by an Enterprise or Solution, Advisor, or Provider Partner.
The 2024 Innovation Awards winners are:

Artificial Intelligence: Ben Sexton, Vice President, JND eDiscovery
Customer Experience: Jenna Rooney, Director, Client Services, Arete Incident Response
Education & Mentorship: Deedra Smith, Managing Director, FTI Consulting
Inclusion: Vazantha Meyers, Vice President, Discovery Services, Haystack ID
Security: Jenna Rooney, Director, Client Services, Arete Incident Response
Stellar Women: Stephanie L. Goutos, Lead Practice Innovation Attorney, Gunderson Dettmer
Best Innovation: Developer Partner: Redaction Suggestions in Blackout by Milyli
Best Innovation: Enterprise: Flywheel by Troutman Pepper eMerge
Best Innovation: Partner: GenAI Toolbox by EY Switzerland

Each of the award winners above exemplify what it means to be a changemaker at the individual, organizational and industry levels. All award winners are determined by a combination of Relativity judging committees unique to each category and a community vote.
Relativity congratulates all submissions for the innovative work delivered this past year.
The post Relativity Spotlights Legal Industry Leaders at the 2024 Innovation Awards appeared first on HIPTHER Alerts.

Continue Reading

Uncategorized

MC Digital Realty wins Frost & Sullivan’s 2024 Japan Data Center Services Company of the Year Award

Published

on

mc-digital-realty-wins-frost-&-sullivan’s-2024-japan-data-center-services-company-of-the-year-award

 
Digital Realty (NYSE: DLR), the largest global provider of cloud- and carrier-neutral data center, colocation, and interconnection solutions, today announced that MC Digital Realty: A Mitsubishi Corporation and Digital Realty Company, has been awarded Frost & Sullivan’s 2024 Company of the Year award for Japan’s data center services industry.
MC Digital Realty is at the forefront of the market, delivering advanced technologies and strategic investments that provide Japanese businesses with secure, innovative, and sustainable infrastructure that enables artificial intelligence (AI) innovation.
MC Digital Realty’s state-of-the-art data centers are optimized for AI, offer the necessary flexibility and scalability for intensive model training and real-time inferencing, and provide advanced liquid cooling systems that ensure optimal performance for demanding AI tasks. Demonstrating its commitment to sustainability, MC Digital Realty leverages its relationship with Mitsubishi Corporation to prioritize energy efficiency, matching electricity usage in its colocation data halls with 100% renewable energy to minimize its carbon footprint.
Frost & Sullivan also recognized MC Digital Realty’s operational excellence. The company’s robust network of resilient data centers is strategically located in low-seismic regions and employs cutting-edge seismic isolation technology to protect its infrastructure, ensuring uninterrupted service and maximum reliability.
MC Digital Realty’s data centers also leverage the power of PlatformDIGITAL®, Digital Realty’s global data center platform. It provides customers access to a vast ecosystem of over 1,100 cloud and IT services, as well as 1,200 network services across 300+ data centers in 50+ metros worldwide.
“The company demonstrates a strong focus on the Japanese market through its continued investments. Strategic partnerships and innovations aligning with transforming customer expectations enable the service provider to achieve success in the country,” said Nishchal Khorana, Global Vice President of ICT at Frost & Sullivan.
Serene Nah, Digital Realty’s Managing Director and Head of Asia Pacific, said: “We are honored to receive the award and recognition from Frost & Sullivan, which validates MC Digital Realty’s commitment to serving partners and customers as they accelerate their AI innovation journeys in Japan. As AI continues to shape the future, Digital Realty remains committed to optimizing data center infrastructure for peak workload performance, and to meet the highest standards of innovation, while ensuring sustainability, security, and resilience.”
The post MC Digital Realty wins Frost & Sullivan’s 2024 Japan Data Center Services Company of the Year Award appeared first on HIPTHER Alerts.

Continue Reading

Trending