Forklift Trucks Market 2022-2031

The global forklift trucks market is predicted to surge ahead at a CAGR of 7.4% over the forecast period of 2021-2031, as per latest study estimates by Persistence Market Research.

Healthy growth is demand for forklift trucks is attributed to fleet size augmentation at industrial facilities as well as warehouse establishments handling commercial cargo and goods. These trucks are used to lay and retrieve loads from storage racks, carry components to assembly lines, and arrange products for more efficient handling in distribution centers and warehouses.

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With hefty investments on new industrial facilities and warehouse distribution centers in emerging countries, especially with the boom of the e-Commerce industry, forklift trucks are poised to become an integral part of intralogistics operations involving material handling activities.

Various product advancements such as development of hydrogen-powered fuel cell forklift trucks are also leading to a good picture for market growth. These variations help drastically reduce carbon emissions while also improving overall operational efficiency. Over the last few years, there has been rise in the usage of electric-driven forklifts, and manufacturers have made extraordinary efforts to outperform internal combustion engines.

Key Players:

The report has profiled some of the Important players prevalent in the global like – Toyota Material Handling, Kion Group AG, Crown Equipment Corporation, Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Liuzhou liugong forklift co. LTD, Hangcha Group Co., Ltd., and Anhui HeLi Co., Ltd., BYD, Manitou Group, Kalmar (Cargotec Finland Ojy), Doosan Corporation (Industrial Vehicle), Mitsubishi Nichiyu Forklift Co., Ltd, UniCarriers Forklift, Caterpillar (Cat Lift Trucks), Komatsu Ltd., Hyundai Material Handling, Lonking Machinery Co., Ltd., Konecranes, Sumitomo Heavy Industries, Ltd., V. Mariotti S.r.l., CLARK Material Handling Co., Ltd., JAC Heavy-Duty Construction Machine Co., Ltd., MiMA forklift, AUSA, EP Equipment, Godrej & Boyce (Godrej Material Handling), and Shantui Construction Machinery Co., Ltd and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Forklift Trucks.

forklift-trucks-market

Market players are focusing on product launches and mergers / acquisitions to increase their share and profits.

In 2020, Hyundai Material Handling kicked off the introduction of its new 9V diesel forklift truck.
In October 2019, Cargotec announced its plans to merge with Konecranes.
Key Takeaways from Market Study

Forklift trucks with electric motors are expected to be the preferred type amongst end users because of their eco-friendly features and ability to match the handling capacities of conventional forklift trucks.
By class type, class 4&5 forklift trucks are projected to be the leader because of their superior weight handling capabilities.
By region, East Asia is projected to hold the highest share in the market. China is projected to account for nearly 90% of the East Asia market by 2031.
By product type, counterbalance forklift trucks are projected to hold a significant share of the market due to their ability to handle heavier loads than warehouse product types.
Governments across countries have taken steps to improve infrastructure. Forklift demand is increasing as a result of increased real estate investment.
“Shift from fuel-driven vehicles toward battery-operated vehicles is expected to be a major trend in forklift trucks owing to green environment management initiatives undertaken by end users as well as a value proposition for OEMs in product positioning,” says a Persistence Market Research analyst.

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders
Forklift Trucks Market Manufacturers
Forklift Trucks Market Distributors/Traders/Wholesalers
Forklift Trucks Market Subcomponent Manufacturers
Industry Association
Downstream Vendors

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Major Highlights of the Forklift Trucks Market Report:

The Forklift Trucks Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
The report dives deeper into the market and explains the dynamic factors bolstering market growth.
The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
The report analyzes the Forklift Trucks Market presence across major regions of the world.
It determines the production & consumption capacities and demand & supply dynamics of each regional market.
The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
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