Market Overview:
The global 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 forklifts from various end-use industries, such as factories, warehouses, stations, ports, airports and distribution centers. Additionally, the growing adoption of fuel cells forklifts is also contributing to the growth of this market. However, volatility in prices of raw materials used in manufacturing forklifts may restrain the growth of this market during the forecast period. On basis on type , internal combustion engine (ICE) Forklift held major share in 2017 and it will continue its dominance throughout forecast period .Electric Forklift are anticipated witness highest CAGR over next 10 years owing stringent emission norms by government authorities across globe . On basis on application , Factories segment accounted for largest share followed by Warehouses segment in 2017 .
Product Definition:
A forklift is a vehicle used to move goods by lifting them with prongs at the front and depositing them at another location. Forklifts are an important part of many industrial and commercial settings, as they allow for the easy transport of heavy items.
Internal Combustion Forklift:
An internal combustion forklift is a powered industrial truck that uses an internal combustion engine and a mechanical drive system to move materials. They are used for loading and unloading material in warehouses, factories, construction sites or transportation hubs.
The global IC forklift market size was valued at USD 4.5 billion in 2016.
Electric Forklift:
An electric forklift is a powered industrial equipment used to lift and transport materials in bulk. It consists of a platform, an arm, and usually two or four wheels at the bottom. The material being lifted is placed on the platform which is then moved by the forklift’s drive system towards the destination by using one or more sets of wheels as needed.
Application Insights:
The distribution centers segment accounted for the largest market share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The rising demand for efficient and rapid moving forklifts to facilitate smooth flow of goods in distribution centers is expected to drive the growth. Furthermore, increasing adoption of electric powered forklifts with features such as automatic gear shift that increases productivity is likely to propel industry growth over the coming years.
Factories are one of the prominent application areas where internal combustion or diesel powered forklift trucks are used on a large scale due to their ability to handle heavy loads with ease and efficiency. Increasing industrialization across various developing countries including China, India, Brazil, South Africa has resulted in growing need for industrial machinery which can be operated efficiently by using automated systems thereby driving demand from factories segmentally speaking (warehouses & stations).
Regional Analysis:
The Asia Pacific dominated the market in 2017 and is expected to continue its dominance over the forecast period. The region accounts for a major share of global manufacturing companies, which are increasingly adopting automation technologies. Furthermore, increasing industrialization and rapid urbanization in developing countries such as India and China have created a huge demand for various types of forklifts. Moreover, rising awareness regarding workplace safety coupled with stringent government regulations on vehicle emissions are expected to drive the regional market growth over the forecast period.
Europe accounted for more than 20% of total revenue share in 2017 owing to growing adoption across several industries including food & beverage, automotive/transportation/logistics, pharmaceuticals & healthcare among others In developed economies such as Germany and U.K.
Growth Factors:
- Increasing demand for forklifts in the e-commerce sector due to the growth of online retailing.
- Rising demand from small and medium enterprises (SMEs) due to the growing economy and rising industrial output.
- Increasing adoption of forklifts in warehouses and distribution centers due to the growth of omni-channel retailing.
- Growing demand for electric forklifts as they are environment-friendly and help reduce carbon emissions.
Scope Of The Report
Report Attributes
Report Details
Report Title
Forklift Market Research Report
By Type
Internal Combustion Forklift, Electric Forklift, Fuel Cells Forklift, Others
By Application
Factories, Warehouses, Stations, Ports, Airports, Distribution centers, Others
By Companies
Heli, Hangcha, Toyota, Kion, Lonking, Jungheinrich, Mitsubishi Logisnext, Hyster-Yale, Tailift, Liugong, Crown
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 Forklift Market Report Segments:
The global Forklift market is segmented on the basis of:
Types
Internal Combustion Forklift, Electric Forklift, Fuel Cells Forklift, 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
Factories, Warehouses, Stations, Ports, Airports, Distribution centers, 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:
- Heli
- Hangcha
- Toyota
- Kion
- Lonking
- Jungheinrich
- Mitsubishi Logisnext
- Hyster-Yale
- Tailift
- Liugong
- Crown
Highlights of The 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:
- Internal Combustion Forklift
- Electric Forklift
- Fuel Cells Forklift
- Others
- By Application:
- Factories
- Warehouses
- Stations
- Ports
- Airports
- Distribution centers
- 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 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.
How you may use our products:
- 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?
A forklift is a powered industrial truck that moves goods by lifting and lowering them using forks or claws.
Some of the key players operating in the forklift market are Heli, Hangcha, Toyota, Kion, Lonking, Jungheinrich, Mitsubishi Logisnext, Hyster-Yale, Tailift, Liugong, Crown.
The forklift market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. 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. Forklift Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Forklift Market - Supply Chain
4.5. Global Forklift Market Forecast
4.5.1. Forklift Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Forklift Market Size (000 Units) and Y-o-Y Growth
4.5.3. Forklift Market Absolute $ Opportunity
5. Global 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. Forklift Market Size and Volume Forecast by Type
5.3.1. Internal Combustion Forklift
5.3.2. Electric Forklift
5.3.3. Fuel Cells Forklift
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global 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. Forklift Market Size and Volume Forecast by Application
6.3.1. Factories
6.3.2. Warehouses
6.3.3. Stations
6.3.4. Ports
6.3.5. Airports
6.3.6. Distribution centers
6.3.7. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global 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. 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 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. 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 Forklift Demand Share Forecast, 2019-2026
9. North America 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 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 Forklift Market Size and Volume Forecast by Application
9.4.1. Factories
9.4.2. Warehouses
9.4.3. Stations
9.4.4. Ports
9.4.5. Airports
9.4.6. Distribution centers
9.4.7. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Forklift Market Size and Volume Forecast by Type
9.7.1. Internal Combustion Forklift
9.7.2. Electric Forklift
9.7.3. Fuel Cells Forklift
9.7.4. 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 Forklift Demand Share Forecast, 2019-2026
10. Latin America 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 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 Forklift Market Size and Volume Forecast by Application
10.4.1. Factories
10.4.2. Warehouses
10.4.3. Stations
10.4.4. Ports
10.4.5. Airports
10.4.6. Distribution centers
10.4.7. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Forklift Market Size and Volume Forecast by Type
10.7.1. Internal Combustion Forklift
10.7.2. Electric Forklift
10.7.3. Fuel Cells Forklift
10.7.4. 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 Forklift Demand Share Forecast, 2019-2026
11. Europe 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 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 Forklift Market Size and Volume Forecast by Application
11.4.1. Factories
11.4.2. Warehouses
11.4.3. Stations
11.4.4. Ports
11.4.5. Airports
11.4.6. Distribution centers
11.4.7. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Forklift Market Size and Volume Forecast by Type
11.7.1. Internal Combustion Forklift
11.7.2. Electric Forklift
11.7.3. Fuel Cells Forklift
11.7.4. 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 Forklift Demand Share, 2019-2026
12. Asia Pacific 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 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 Forklift Market Size and Volume Forecast by Application
12.4.1. Factories
12.4.2. Warehouses
12.4.3. Stations
12.4.4. Ports
12.4.5. Airports
12.4.6. Distribution centers
12.4.7. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Forklift Market Size and Volume Forecast by Type
12.7.1. Internal Combustion Forklift
12.7.2. Electric Forklift
12.7.3. Fuel Cells Forklift
12.7.4. 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 Forklift Demand Share, 2019-2026
13. Middle East & Africa 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 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 Forklift Market Size and Volume Forecast by Application
13.4.1. Factories
13.4.2. Warehouses
13.4.3. Stations
13.4.4. Ports
13.4.5. Airports
13.4.6. Distribution centers
13.4.7. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Forklift Market Size and Volume Forecast by Type
13.7.1. Internal Combustion Forklift
13.7.2. Electric Forklift
13.7.3. Fuel Cells Forklift
13.7.4. 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 Forklift Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Forklift Market: Market Share Analysis
14.2. Forklift Distributors and Customers
14.3. Forklift Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Heli
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Hangcha
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Toyota
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Kion
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Lonking
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Jungheinrich
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Mitsubishi Logisnext
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Hyster-Yale
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Tailift
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Liugong
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Crown
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
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
