Market Overview:
The global electric forklift market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for electric forklifts from various end-use industries, such as factories, airports, and harbors. Electric counterbalance forklift trucks are expected to hold a major share of the global electric forklift market during the forecast period. This can be attributed to their high efficiency and low emissions as compared with other types of electric forklifts.
Product Definition:
An electric forklift is a powered industrial truck used to lift and move materials. It consists of a platform or carriage, mounted on wheels, that rests on two or more elongated metal tines. The forklift is powered by an electric motor and controlled by an operator who sits in a seat located at the front of the vehicle. Electric forklifts are used extensively in warehouses and distribution centers to move pallets of goods around the facility.
Electric Counterbalance Forklift Trucks:
Counterbalance forklift trucks are used to counterweight the machine or equipment in order to make it movable. The weight of the machine is usually on the rear end of the truck, which makes it movable. These types of forklifts are mostly used for handling heavy material and they can also be used as a supplement for manual labor when needed.
Electric Pallet Trucks:
Pallet trucks are used to carry pallets of varying sizes. They are made up of different types of materials like rubber, wood, plastic and metal. The material is chosen as per the weight capacity and load carrying capacity required by the application in which it is being used. Electric pallet trucks can be battery powered or they can be plugged into an electric outlet for charging.
Application Insights:
The others application segment accounted for the largest market share of more than 40% in 2017. The growth is attributed to the increasing demand for forklifts with higher lifting capacities in warehouses, distribution centers and airports among other places. The airport segment is expected to witness significant growth over the forecast period owing to rising air traffic and need for aircraft maintenance, repair and overhaul activities at airports. In addition, stringent government regulations regarding aircraft safety are expected to drive industry growth over the coming years.
Harbor segment is also anticipated to witness considerable growth during the forecast period due by reason of growing shipping & transportation business coupled with an increase in production & manufacturing businesses across various regions including Asia Pacific, North America and Europe among others.
Regional Analysis:
The Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region accounted for a share of more than 30% in terms of revenue in 2017, owing to high product demand from various application industries. China is one of the prominent markets for electric forklifts as it has been witnessing strong economic growth since last few years. Moreover, increasing investments by companies such as SANY Group and Alibaba Group are anticipated to boost sales volume over the next eight years thereby boosting regional growth.
North America held a significant market share followed by Europe due to growing adoption across several industries especially warehousing & storage and retail sectors where cost-effective solutions are required on a large scale basis with less maintenance costs involved. Furthermore, presence of key manufacturers including Crown Equipment Corporation; Kistler Instrumente AG; Loomis Fargo Northwest Wrecker Co.; Montreal-Diesel; Powerbuilt Inc.; Riebau GmbH & Co.
Growth Factors:
- Increasing demand for electric forklifts from the e-commerce sector
- Rising adoption of electric forklifts in small and medium enterprises (SMEs)
- Growing popularity of green technologies across the globe
- Proliferation of automated warehouses and distribution centers
- Stringent government regulations to promote the use of electric vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Forklift Market Research Report
By Type
Electric Counterbalance Forklift Trucks, Electric Pallet Trucks, Electric Reach Trucks, Electric Stackers, Others
By Application
Factory, Harbor, Airport, Others
By Companies
Toyota, Kion Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Crown Equipment, Mitsubishi Nichiyu, UniCarriers Corp, Komatsu, Anhui Heli, Clark Material Handling Company, Hangcha, Doosan Industrial Vehicles, Hyundai Heavy Industries, Combilift Ltd, Lonking, Tailift Group, Hubtex, Hytsu Group, Godrej & Boyce
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Electric Forklift Market Report Segments:
The global Electric Forklift market is segmented on the basis of:
Types
Electric Counterbalance Forklift Trucks, Electric Pallet Trucks, Electric Reach Trucks, Electric Stackers, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Factory, Harbor, Airport, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Toyota
- Kion Group AG
- Jungheinrich AG
- Hyster-Yale Materials Handling
- Crown Equipment
- Mitsubishi Nichiyu
- UniCarriers Corp
- Komatsu
- Anhui Heli
- Clark Material Handling Company
- Hangcha
- Doosan Industrial Vehicles
- Hyundai Heavy Industries
- Combilift Ltd
- Lonking
- Tailift Group
- Hubtex
- Hytsu Group
- Godrej & Boyce
Highlights of The Electric Forklift Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electric Counterbalance Forklift Trucks
- Electric Pallet Trucks
- Electric Reach Trucks
- Electric Stackers
- Others
- By Application:
- Factory
- Harbor
- Airport
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Forklift Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An electric forklift is a machine that uses electricity to move objects. They are often used in warehouses and other large commercial buildings.
Some of the key players operating in the electric forklift market are Toyota, Kion Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Crown Equipment, Mitsubishi Nichiyu, UniCarriers Corp, Komatsu, Anhui Heli, Clark Material Handling Company, Hangcha, Doosan Industrial Vehicles, Hyundai Heavy Industries, Combilift Ltd, Lonking, Tailift Group, Hubtex, Hytsu Group, Godrej & Boyce.
The electric forklift market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Electric Forklift Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Electric Forklift Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Electric Forklift Market - Supply Chain
4.5. Global Electric Forklift Market Forecast
4.5.1. Electric Forklift Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Electric Forklift Market Size (000 Units) and Y-o-Y Growth
4.5.3. Electric Forklift Market Absolute $ Opportunity
5. Global Electric Forklift Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Electric Forklift Market Size and Volume Forecast by Type
5.3.1. Electric Counterbalance Forklift Trucks
5.3.2. Electric Pallet Trucks
5.3.3. Electric Reach Trucks
5.3.4. Electric Stackers
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Electric Forklift Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Electric Forklift Market Size and Volume Forecast by Application
6.3.1. Factory
6.3.2. Harbor
6.3.3. Airport
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Electric Forklift Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Electric Forklift Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Electric Forklift Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Electric Forklift Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Electric Forklift Demand Share Forecast, 2019-2026
9. North America Electric Forklift Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Electric Forklift Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Electric Forklift Market Size and Volume Forecast by Application
9.4.1. Factory
9.4.2. Harbor
9.4.3. Airport
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Electric Forklift Market Size and Volume Forecast by Type
9.7.1. Electric Counterbalance Forklift Trucks
9.7.2. Electric Pallet Trucks
9.7.3. Electric Reach Trucks
9.7.4. Electric Stackers
9.7.5. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Electric Forklift Demand Share Forecast, 2019-2026
10. Latin America Electric Forklift Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Electric Forklift Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Electric Forklift Market Size and Volume Forecast by Application
10.4.1. Factory
10.4.2. Harbor
10.4.3. Airport
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Electric Forklift Market Size and Volume Forecast by Type
10.7.1. Electric Counterbalance Forklift Trucks
10.7.2. Electric Pallet Trucks
10.7.3. Electric Reach Trucks
10.7.4. Electric Stackers
10.7.5. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Electric Forklift Demand Share Forecast, 2019-2026
11. Europe Electric Forklift Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Electric Forklift Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Electric Forklift Market Size and Volume Forecast by Application
11.4.1. Factory
11.4.2. Harbor
11.4.3. Airport
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Electric Forklift Market Size and Volume Forecast by Type
11.7.1. Electric Counterbalance Forklift Trucks
11.7.2. Electric Pallet Trucks
11.7.3. Electric Reach Trucks
11.7.4. Electric Stackers
11.7.5. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Electric Forklift Demand Share, 2019-2026
12. Asia Pacific Electric Forklift Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Electric Forklift Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Electric Forklift Market Size and Volume Forecast by Application
12.4.1. Factory
12.4.2. Harbor
12.4.3. Airport
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Electric Forklift Market Size and Volume Forecast by Type
12.7.1. Electric Counterbalance Forklift Trucks
12.7.2. Electric Pallet Trucks
12.7.3. Electric Reach Trucks
12.7.4. Electric Stackers
12.7.5. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Electric Forklift Demand Share, 2019-2026
13. Middle East & Africa Electric Forklift Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Electric Forklift Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Electric Forklift Market Size and Volume Forecast by Application
13.4.1. Factory
13.4.2. Harbor
13.4.3. Airport
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Electric Forklift Market Size and Volume Forecast by Type
13.7.1. Electric Counterbalance Forklift Trucks
13.7.2. Electric Pallet Trucks
13.7.3. Electric Reach Trucks
13.7.4. Electric Stackers
13.7.5. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Electric Forklift Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Electric Forklift Market: Market Share Analysis
14.2. Electric Forklift Distributors and Customers
14.3. Electric Forklift Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Toyota
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Kion Group AG
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Jungheinrich AG
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Hyster-Yale Materials Handling
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Crown Equipment
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Mitsubishi Nichiyu
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. UniCarriers Corp
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Komatsu
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Anhui Heli
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Clark Material Handling Company
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Hangcha
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Doosan Industrial Vehicles
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Hyundai Heavy Industries
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Combilift Ltd
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Lonking
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Tailift Group
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Hubtex
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Hytsu Group
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Godrej & Boyce
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
