India Forklift Market was estimated XX units in 2017 and is anticipated to reach XX units by 2026 at a CAGR of 13 % during the forecast period. India forklift market is experiencing enthusiastic growth from the last five years. The speed, easy handling and flexibility and this equipment make them ideal for material handling tasks especially in restricted areas like warehouses and yards. This drives the India forklift market. Make in India initiative, aims to increase the share of the manufacturing sector to the GDP to 25 % by 2022, from 16 %, this further influences the India forklift market growth.

In addition, GST implementation has pulled the demand in the industry. However, third party logistics (3PL) services and high cost of battery operated and fuel cell forklift restrains the growth of India’s forklift market. India’s manufacturing sector experienced a growth of 4.6 % during the year 2017-2018 influence by proactive Government initiatives like Make in India, a forward-looking and simple FDI Policy, and Skill India, along with the country’s higher rank on the Ease of Doing Business Index. India’s organized chain store retail implying a CAGR of 32 % over the next 8 years.

This would drive the construction of new stores, in turn leading to demand for forklift. Exponential growth and emerging competition in organized retail in India are expected to stimulate India forklift growth. The electric segment held a major share in India forklift market followed by diesel. An electric segment to emerge and gaining momentum at a faster pace in the country. Electric forklifts are available with many special attachments for specific applications with a lower cost of ownership. End users have started preferring electric forklifts over diesel variants.

LPG segment to grow at a very slow pace during the forecast period. An electric forklift will take majority over the diesel and LPG driven forklifts for the reason of environmental compliance as pollution control norms are getting stringent. Light duty forklifts with the load capacity of 1 ton to 3 ton are dominating the sales volume as there have been many SME companies operating in the country. Light duty segment held 78 % followed by medium duty and heavy duty with 14% and 8 % respectively.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding India Forklift Market dynamics, structure by identifying and analyzing the market segments and project the market size. Further, the report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER's analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to emerging segment in India Forklift Market.

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Scope of the India Forklift Market
India Forklift Market, by Class:
• Class 1 • Class 2 • Class 3 • Class 4/5

India Forklift Market, by Capacity:
• Light Duty • Medium Duty • Heavy Duty

India Forklift Market, by Type:
• Electric • Diesel • LPG

India Forklift Market, by Application:
• Manufacturing • Wholesale & Retail Distribution • Freight • Logistics

Key Player analyzed in the Report:
• Godrej & Boyce Manufacturing Company Limited • KION India Private Limited • Action Construction Equipment Ltd • Toyota Material handling India PVT LTD • Mecneill Engineering Limited • Nilkamal Limited • Maini Group • Josts Engineering Private Limited • MHE NEXT Engineering Private Limited • Hyundai Construction Equipment Private Limited • Mukand Ltd. ƒ Escorts Ltd. • Ahluwalia Contracts [India] Ltd. • Saico Engineers & Fabricators Ltd. • ACE • OMEGA • Voltas • TIL • TELCON

This Report Is Submitted By @Global Market Research Company

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