An industrial vehicle including: a direction calculation unit that calculates an instructed travel direction of the vehicle based on an operation position of the direction instruction member; a vehicle speed calculation unit that calculates an actual speed of the vehicle; a switching unit that switches between permission and prohibition of regenerative braking limit; and a control unit that controls traveling of the vehicle. The control unit is configured to be switchable between a regenerative braking limit state where the regenerative braking limit is performed and a regenerative braking limit release state where the regenerative braking limit is released, when the vehicle speed limit mode is activated and the regenerative braking limit is permitted. The control unit has at least one control pattern that switches between the regenerative braking limit state and the regenerative braking limit release state when a predetermined condition is satisfied.