Global Forklift Trucks Market is projected to reach USD 41.73 billion by 2023, at a CAGR of 5.9% from 2019 to 2023.
Forklift trucks are the most common material handling equipment, which is used to lift and move materials within a short distance. Although there are a vast number of automated solutions in recent times coming up in the forklift trucks market, the electric forklift has not dwindled. In fact, the increasing demand for these in developing countries is expected to raise further the sale of such units making the forklift truck market to rise substantially.
The key trend which is positively influencing the growth of the forklift truck market is technological advancements which are helping to improve forklifts with high-end sensors and other components.
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- key players of global forklift trucks market are
- Komastu Ltd. (Japan)
- Toyota Industries Corporation (Japan)
- KION Group AG (Germany)
- Hyster-Yale Material handling Inc. (U.S.)
- Jungheinrich Group (Germany)
- Mitsubishi Nichiyu Forklift Corporation (Japan)
- Crown Equipment Corporation (U.K)
- The Raymond Corporation (U.S.)
- Anhui HELI Co., Ltd (China)
- Kalmar Global (Finland)
- Manufacturing Organizations
- Distributors & Suppliers
- Government as well as Independent Regulatory Authorities
- Research Institute / Education Institute
- Potential Investors
Forklift truck market: Top Factors Driving Growth
The forklift market is expected to witness notable growth in future due to the competitive advantages of electric forklift trucks that are attributed with high efficiency, eco-friendly nature, and low operation cost compared to other forklift trucks. On the same time, a notable increase in applications of the forklift in the industrial sector, such as in the food industry and automotive, is expected to fuel the market growth with definite pull.
While a tremendous demand from the retail industry, especially from the e-commerce sector, is also driving the forklift trucks market headlong. However, a lack of skilled labor and the advent of automated guided vehicles pose a significant challenge to the market, hindering the growth. But the increasing adoption of Industry 4.0 policies, increasing costs of commercial warehouse spaces, demand for ultra-fast deliveries, and logistics operations and declining robotics costs will assuredly support the forklift trucks market to rise shortly at a higher CAGR.
Going forward, in recent time, forklift truck manufacturers are highly focusing on extensive R&D, which has resulted in a vital development in forklift trucks technology. Forklifts are now powered by hydrogen cells that have already been introduced in the market, making it accessible and successful. During the forecast period, as reported in MRFR, the adoption of fuel cell powered forklifts will increase owing to the need for improved operational efficiency and presence of stringent regulations to reduce carbon emissions.
Forklift Truck Market Segmentation
According to the reports presented by MRFR, the global forklift truck market has been segmented based on technology, captivity, application, and region.
By segment of technology, the market gas segments such as electric powered and internal combustion engine powered.
By segment of captivity, the market has segments such as below 5 tons, and above 5 tons.
By segment of application, the market has segments such as manufacturing, logistic, retail & wholesale, and others.
- Regulatory Landscape Pricing Analysis Macroeconomic Indicators
- Geographical analysis across 15 countries
- Profiling of 10 key market players
- In-depth analysis including SWOT analysis, and strategy information of related to report title
- Competitive landscape including emerging trends adopted by major companies
Regional Outlook: Global Forklift Trucks Market
In the reports of MRFR, the Asia-Pacific region is leading the global forklift trucks market followed by Europe owing to the growth in industrialization in these regions. These primary factors are helping in increasing the demand of forklift trucks, hence supporting the global forklift truck market positively. Europe is another important market and is expected to contribute significantly during the forecast period.
Major Key Points from Table of Content:
TABLE 1 GLOBAL FORKLIFT TRUCKS MARKET, BY TECHNOLOGY
TABLE 2 GLOBAL FORKLIFT TRUCKS MARKET, BY CAPACITY
TABLE 3 GLOBAL FORKLIFT TRUCKS MARKET, BY APPLICATION
TABLE 4 GLOBAL FORKLIFT TRUCKS MARKET, BY REGIONS
TABLE 5 NORTH AMERICA FORKLIFT TRUCKS MARKET, BY COUNTRY
TABLE 6 NORTH AMERICA FORKLIFT TRUCKS MARKET, BY TECHNOLOGY
TABLE 7 NORTH AMERICA FORKLIFT TRUCKS MARKET, BY CAPACITY
TABLE 8 NORTH AMERICA FORKLIFT TRUCKS MARKET, BY APPLICATION
TABLE 9 U.S. FORKLIFT TRUCKS MARKET, BY TECHNOLOGY
TABLE 10 U.S. FORKLIFT TRUCKS MARKET, BY CAPACITY
LIST OF FIGURES
FIGURE 1 RESEARCH CAPACITY
FIGURE 2 GLOBAL FORKLIFT TRUCKS MARKET: BY TECHNOLOGY (%)
FIGURE 3 GLOBAL FORKLIFT TRUCKS MARKET: BY CAPACITY (%)
FIGURE 4 GLOBAL FORKLIFT TRUCKS MARKET: BY APPLICATION (%)
FIGURE 5 GLOBAL FORKLIFT TRUCKS MARKET: BY REGION
FIGURE 6 NORTH AMERICA FORKLIFT TRUCKS MARKET, BY TECHNOLOGY (%)
FIGURE 7 NORTH AMERICA FORKLIFT TRUCKS MARKET, BY CAPACITY (%)
FIGURE 8 NORTH AMERICA FORKLIFT TRUCKS MARKET, BY APPLICATION (%)
FIGURE 9 EUROPE FORKLIFT TRUCKS MARKET, BY TECHNOLOGY (%)
FIGURE 10 EUROPE FORKLIFT TRUCKS MARKET, BY CAPACITY (%)
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