Procurement Market Intelligence Report
Industrial Trucks
Sourcing Guide & Market Intelligence
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Industrial Trucks Global Overview
Definition
Summary
This report is intended to assist buyers of industrial trucks. Industrial trucks include pushcarts, hand trucks, wagons, dollies, wheelbarrows, creepers, tilt trucks, and platform trucks. These products are typically used in retail, industrial and home improvement applications requiring material-handling equipment. Key buyers in this market include construction and mining companies, as well as public storage and warehousing suppliers.
This Report Includes:
- Pushcarts
- Hand Trucks
- Wagons
- Dollies
- Wheelbarrows
Not in this Report:
- Pallet Jacks
- Pallet Lifts
- Forklifts
- Industrial Truck Accessories
- Rental and Leasing Options
Global Industrial Trucks Procurement Trends
Discover the top international trends affecting procurement in the global Industrial Trucks market.
Warning Trends
United States announces new tariffs on all imported steel
- In February 2025, the United States announced 25.0% tariffs on all imported steel with no exemptions or exceptions. The tariffs took effect on March 12, 2025. On June 4th, these tariffs were increased further to 50%. These tariffs were not impacted by a recent court decision that temporarily suspended duties on certain goods as they were implemented under Section 232 of the Trade Expansion Act.
- Previously, countries such as Canada, Mexico, and Brazil, the top exporters of steel to the United States, had exemptions from tariffs. These have now been removed and all imported steel, regardless of origin, will be subject to the 50.0% tariff. However, on May 8th, the US announced an agreement with the United Kingdom to remove all levies on steel exported from the UK.
- When tariffs on steel imports were introduced in March 2018, they contributed to an increase in the price of steel and steel products. According to the Bureau of Labor Statistics, the price of steel-milled products increased by 10.2% in the year after the tariffs were implemented. This market heavily relies on steel as an input and may be impacted by this policy.
Global Industrial Trucks Market - Suppliers by Region
| Country/Region | Number of Suppliers |
|---|---|
| #1 Europe | 6,005 |
| #2 China | 4,245 |
| #3 Oceania & Southeast Asia | 2,980 |
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Geography Drilldown - US
Average Cost of Industrial Trucks
United States
2026 Market Pricing$25.00 to $X,XXX.XX
per industrial truckAverage Price
Prices in the Industrial Trucks market range from $25.00 to $X,XXX.XX, depending on Safety, Complexity and Power. For example, lower prices are associated with Basic safety features, whereas higher prices are associated with Advanced safety features.
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Between our Europe and Canada collections, we provide price data for 350 markets so you can instantly compare prices across borders. Or, use our custom research services for intel on prices in any region across the globe.
Industrial Trucks Category Price Trends
Pricing trends are indicated by the compound annual growth rate (CAGR) during a set period of time. For the Industrial Trucks market, prices in the US have grown 0.2% from 2022 to 2025. Subscribers can access price trend forecasts, price driver projections and forward-looking cost structure data. Learn more
United States (2022-2025)
United States (2025-2028)
Compound Annual Growth Rate
Wondering where prices are heading?
Price trend forecasts are available to subscribers, along with price driver projections and forward-looking cost structure data.
Cost Analysis - Total Cost of Ownership for Industrial Trucks
Total cost of ownership is Low in the Industrial Trucks market. The average cost of ownership differs depending on the contract but generally includes costs negotiated before the contract begins, costs billed during the contract period and unforeseen costs.
Negotiated Before
Transportation
Billed During
Maintenance
Buyer Power in Procurement Negotiations
In 2026, buyer power amounts to -0.2 in the United States. Buyer power is most positively impacted by Recent Developments. It is most negatively impacted by Market Share Concentration. Subscribers can access details on eight other factors that impact buyer power. Learn more
United States
Buyer power forecasts: your glimpse into the future
Develop strategies for the upcoming year and identify unforeseen opportunities for buying now
- Actionable "Buy Now" and "Buy Later" insights
- Near-real-time updates to current and forecast Buyer Power Scores
- Methodology and weightings for Buyer Power Score Components
Supply Chain Risk
The average level of supply chain risk is assessed as High, which has a negative impact on buyer power. The level of supply chain risk is affected by industry volatility, barriers to entry, competition, import penetration, regulation and industry financial risk. Buyers in this market can mitigate procurement and supply chain management risks by monitoring risk levels for individual first and second tier suppliers:
1st
Tier Suppliers
- Industrial Machinery & Equipment Wholesalers
- Metal Pipe & Tube Manufacturers
- Ferrous Metal Foundry Product Manufacturers
- Plastic & Resin Manufacturers
2nd
Tier Suppliers
- Metalworking Machinery Manufacturers
- Iron & Steel Manufacturers
- Petrochemical Manufacturers
Biggest Industrial Trucks Suppliers in the US by Revenue
The largest Industrial Trucks vendors by revenue in the US are System Inc., Home Depot, inc. and W.W. Grainger, Inc. Subscribers can sort and filter by market share concentration, profit level and other factors. Learn more
| Supplier | Operational Size | Headquarters | Number of Employees | Market Share (%) | Market Share Performance (3yr trend) | Total Revenue ($ million) | Profit Level (%) | Risk Level |
|---|---|---|---|---|---|---|---|---|
| Toyota Industries Corporation | Global | Kariya, JP | >10,001 | < 5 | ||||
| Home Depot, inc. | International | ATLANTA | >10,000 | < 5 | ||||
| Lowes Companies Inc. | International | MOORESVILLE | >10,000 | < 5 | ||||
| W.W. Grainger, Inc. | Global | LAKE FOREST | >10,000 | < 5 | ||||
| Newell Brands Inc. | Global | ATLANTA, NJ | >10,000 | < 5 | ||||
| Harbor Freight Tools Usa, Inc. | National | Calabasas, CA | >10,000 | < 5 | ||||
| Msc industrial direct co., inc. | Global | MELVILLE, NY | 1,001-10,000 | < 5 | ||||
| System Inc. | National | PORT WASHINGTON | 1,001-10,000 | < 5 | ||||
| Northern Tool & Equipment Co. | National | Burnsville, MN | 1,001-10,000 | < 5 | ||||
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Subscribers can access vendor information on Canadian and European suppliers, too. We also offer custom research services to help with vendor sourcing anywhere in the world.
Profit Analysis
The average profit margin across vendors in the Industrial Trucks market is 11.5% and steady. Profit levels shift depending on suppliers' spend on wages, purchases and overhead. The highest cost component for vendors is Purchases. The cost trend for this component is falling, when considering movement between 2025 and 2026. To understand cost forecasts for 2027 and uncover the implications on profit, start your subscription. Learn more
Vendor & Supply Chain Analysis
The supply chain for industrial trucks has a high level of risk. Many upstream suppliers generate low profit margins and rely on volatile inputs, making price spikes and supply shortages a constant threat to added price volatility.
Vendor risk is low for the industrial trucks market because industries in a variety of sectors of the economy use industrial trucks in their daily operations. Furthermore, the majority of these industries is expected to expand as the economy continues to recover and move into a normal growth phase.
The top four suppliers (Hyster-Yale Materials Handling, Home Depot, W.W. Grainger and Lowe’s Companies) account for less than 20.0% of revenue, indicating low market share concentration. This benefits buyers by increasing the amount of supplier competition in the market.
The United States is a net importer of industrial trucks, meaning it imports more trucks than it exports. This reduces buyer power by increasing the likelihood of supply disruptions due to currency exchange rates and foreign events.
Supplier Information
Harbor Freight Tools Usa, Inc.
Harbor Freight Tools Usa, Inc. is a private company operating nationally in the manufacturing sector. The company's offerings include metal grinding machines, welding machines, industrial trucks, hydraulic presses, industrial dust collection systems. Founded in 1977, the company is currently headquartered... Subscribe to learn more
Home Depot, inc.
Home Depot, Inc. is a home improvement retailer offering building materials, home improvement products, lawn and garden products, décor products, and related services under national and proprietary brands. Its proprietary brands include, among others, HDX®, Husky®, Hampton Bay®, Home Decorators Collection®,... Subscribe to learn more
Lowes Companies Inc.
Lowe's Companies, Inc. is a home improvement retailer for maintenance, repair, remodeling, and decorating markets. Its product portfolio includes appliances, seasonal & outdoor living, lumber, lawn & garden, kitchen & bath, hardware, building materials, millwork, paint, rough plumbing, tools, electrical, Subscribe to learn more
Msc industrial direct co., inc.
MSC Industrial Direct Co., Inc. is a distributor of metalworking and maintenance, repair, and operations (MRO) products and services. It offers cutting tools, measuring instruments, tooling components, metalworking products, fasteners, flat stock, raw materials, abrasives, hand and power tools, safety and... Subscribe to learn more
Newell Brands Inc.
Newell Brands Inc. is a global consumer goods company that markets under a portfolio of well-known brands, including Rubbermaid, Sharpie, Graco, Coleman, Rubbermaid Commercial Products, Yankee Candle, Paper Mate, FoodSaver, Dymo, EXPO, Elmer’s, Oster, NUK, Spontex, and Campingaz. It organizes its business... Subscribe to learn more
Northern Tool & Equipment Co.
Northern Tool & Equipment Co. is a private company operating nationally in the manufacturing sector. The company's offerings include platform lifts, portable concrete mixers, welding machines, pallet trucks, industrial trucks. Founded in 1981, the company is currently headquartered in Burnsville, Minnesota,... Subscribe to learn more
System Inc.
Global Industrial Co. is a distributor of over a million industrial and maintenance, repair, and operation (MRO) products in North America under the Global™, GlobalIndustrial.com™, Nexel™, Paramount™, and Interion™ trademarks. Its product categories include storage and shelving, safety and security, carts... Subscribe to learn more
Toyota Industries Corporation
Toyota Industries Corporation is a public company operating globally in the manufacturing and other services (except public administration) sectors. The company's offerings include front-end loaders, aerial lifts, pallet trucks, industrial trucks, forklifts. Founded in 1926, the company is currently headquartered... Subscribe to learn more
W.W. Grainger, Inc.
WW Grainger, Inc. is a diversified global company that supplies maintenance, repair, and operating (MRO) products and services. It offers products under several categories, including safety and security, material handling and storage, pumps and plumbing equipment, cleaning and maintenance, metalworking, and... Subscribe to learn more
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Procurement Management KPIs for the Industrial Trucks Market
Managing vendor performance throughout the contract period is easier when tracking specific key performance indicators (KPIs). For example, buyers should monitor Cash Flow and Customer Retention Rate. Buyers may experience better performance throughout their contracts if they establish service level agreements (SLAs) based on Scheduled Maintenance and other factors.
| KPI | Level of Importance (1-5) | Measurements | Key Considerations |
|---|---|---|---|
| Cash Flow |
|
Press reports |
Vendors with positive cash flow are preferred because it signifies a higher level of profitability and solvency of the vendor. These factors minimize the risk of a supplier abruptly exiting the market. |
| Customer Retention Rate |
|
Client testimonials Press reports |
Vendors with a higher customer retention rate indicate a higher quality of service. The customer retention rate can determine the extent to which a company’s customer base fluctuates over time. |
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Questions to Ask During Procurement Negotiations
How can I gain leverage during negotiations?
Competition
How long have you been in the industrial truck market?
How do your products differ from your competitors'?
Quality Control
Are your trucks assembled by hand or by machine? Does this method provide an advantage over other methods?
Do you employ quality control personnel or systems? If so, how many staff members and what kinds of systems do you use?
Supply Chain Risk
How have your production costs changed during the past three years?
How do input price fluctuations affect your clients?
The ultimate prep for procurement negotations
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Industrial Trucks RFP Guidelines
What should my RFP include?
Organizational Overview
Buyers should describe their organizations and explain why they are seeking industrial trucks.
Buyers need to give a description of the goods that need handling. This overview should give vendors enough information to quickly evaluate whether they can provide industrial trucks that can transport the anticipated amount of cargo efficiently enough.
Statement Of Need
Buyers must describe the intended application of the industrial trucks, the number of units desired, and whether they plan to make an outright purchase or opt for financing.
Buyers should state the specifications of the industrial trucks required.
Project Budget
Buyers should explicitly state the amount of the contract award.
Buyers should explain when and how many payments will be made.
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We display average pricing information, trends and market data.
Our Reports include:
- Opportunity assessment
- Market dynamics
- Recent developments
- Positive and warning trends
- Buyer power levers
- Price environment and market pricing
- Geographic wage rates
- Global market updates
- Total cost of ownership
- Cost structure benchmarks and analysis
- Supply chain and vendors
- Global supplier breakdown
- Market share concentration
- Regulation and business requirements
- Vendor management and KPIs
- Sourcing strategy guidance
