Market Overview:
The global forklift trucks market is expected to grow at a CAGR of 5.5% from 2018 to 2030. In terms of volume, the market is projected to reach 9,814 thousand units by 2030. The Class 4/5 forklift trucks accounted for a major share of 39% the global forklift trucks market in 2018 and are expected to maintain their dominance during the forecast period. These vehicles are used for handling heavy loads and are deployed in industries such as automotive, metals & mining, and construction.
Product Definition:
A forklift truck (also called a lift truck, forktruck, or forklift) is a powered industrial truck used to lift and move materials horizontally. The Forklift Truck is one of the most important machines in an industrial setting. It can be used to move heavy objects like pallets of goods around an assembly line or warehouse.
Class 1:
The global class 1, it's usage and growth factor in forklift trucks market size was valued at USD 2.6 billion in 2016. It is expected to expand at a CAGR of XX% over the forecast period owing to increasing demand for material handling equipment across various industries such as automotive, food & beverages, pharmaceuticals, mining and construction among others.
Class 2:
The Class 2 forklift trucks are compact and designed for indoor use. They have a load capacity of up to 1,000 lbs and are equipped with features such as low speed control, high lift capability, electronic brake force distribution and engine braking system. The class 2 forklift truck is the most popular type in the U.S., where it accounts for about 75% of the total market share.
Application Insights:
The distribution centers segment held a significant share in 2017 and is expected to grow at a steady growth rate over the forecast period. The growing e-commerce industry has led to an increase in the number of distribution centers, which has resulted in increased demand for forklift trucks.
Factories are estimated to be one of the prominent application areas for forklift trucks over the forecast period. The increasing production capacities across various industries including automotive, electronics & IT, pharmaceuticals have resulted in increased product demand from these industries leading to high market penetration across factories floors globally. In addition, rapid industrialization results in an increase of factory floor size thereby resulting into higher requirement for material handling equipment such as forklifts with high lifting capacity and accuracy which is further anticipated to fuel product demand across numerous factories globally over the next few years.
Regional Analysis:
The Asia Pacific region is expected to witness the highest CAGR of XX% over the forecast period, owing to rapid industrialization and urbanization in developing countries such as China and India. The growing population coupled with increasing living standards has led to an increase in consumer spending on consumer goods including household appliances, which will drive the market growth over the forecast period. Furthermore, favorable government regulations aimed at promoting investments through FDI are anticipated to open new avenues for forklift truck manufacturers across this region.
In terms of revenue, Europe accounted for USD X million in 2017.
Growth Factors:
- Increasing demand for forklift trucks from the e-commerce sector due to the growth of online retailing.
- Rising demand for forklift trucks from the automotive sector due to increasing production of automobiles.
- Growing demand for forklift trucks from the construction and infrastructure sectors due to rapid urbanization and development projects across the globe.
- Increasing adoption of forklift trucks in small and medium enterprises (SMEs) owing to their low cost and easy operability compared to other industrial vehicles such as cranes and loaders.
Scope Of The Report
Report Attributes
Report Details
Report Title
Forklift Trucks Market Research Report
By Type
Class 1, Class 2, Class 3, Class 4/5, In 2018, Class 4/5 forklift trucks accounted for a major share of 39% the global forklift trucks market.
By Application
Factories, Warehouses, Distribution Centers, Others, The warehouses hold an important share in terms of applications, and accounts for 37% of the market share.
By Companies
Toyota, Kion, Jungheinrich, Mitsubishi Logisnext, Crown Equipment, Hyster-Yale, Anhui Heli, Hangcha, Clark Material Handling, Doosan Corporation Industrial Vehicle, Komatsu, Lonking, Hyundai Heavy Industries, EP Equipment, Manitou, Paletrans Equipment, Combilift, Hubtex Maschinenbau, 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
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Forklift Trucks Market Report Segments:
The global Forklift Trucks market is segmented on the basis of:
Types
Class 1, Class 2, Class 3, Class 4/5, In 2018, Class 4/5 forklift trucks accounted for a major share of 39% the global forklift trucks market.
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, Distribution Centers, Others, The warehouses hold an important share in terms of applications, and accounts for 37% of the market share.
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
- Jungheinrich
- Mitsubishi Logisnext
- Crown Equipment
- Hyster-Yale
- Anhui Heli
- Hangcha
- Clark Material Handling
- Doosan Corporation Industrial Vehicle
- Komatsu
- Lonking
- Hyundai Heavy Industries
- EP Equipment
- Manitou
- Paletrans Equipment
- Combilift
- Hubtex Maschinenbau
- Godrej & Boyce
Highlights of The Forklift Trucks 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:
- Class 1
- Class 2
- Class 3
- Class 4/5
- In 2018, Class 4/5 forklift trucks accounted for a major share of 39% the global forklift trucks market.
- By Application:
- Factories
- Warehouses
- Distribution Centers
- Others
- The warehouses hold an important share in terms of applications, and accounts for 37% of the market share.
- 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 Trucks 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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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?
Forklift trucks are large, heavy vehicles that are used to move large objects. They typically have a capacity of at least 10,000 pounds and can be driven by a single person.
Some of the major players in the forklift trucks market are Toyota, Kion, Jungheinrich, Mitsubishi Logisnext, Crown Equipment, Hyster-Yale, Anhui Heli, Hangcha, Clark Material Handling, Doosan Corporation Industrial Vehicle, Komatsu, Lonking, Hyundai Heavy Industries, EP Equipment, Manitou, Paletrans Equipment, Combilift, Hubtex Maschinenbau, Godrej & Boyce.
The forklift trucks market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Forklift Trucks 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 Trucks Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Forklift Trucks Market - Supply Chain
4.5. Global Forklift Trucks Market Forecast
4.5.1. Forklift Trucks Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Forklift Trucks Market Size (000 Units) and Y-o-Y Growth
4.5.3. Forklift Trucks Market Absolute $ Opportunity
5. Global Forklift Trucks 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 Trucks Market Size and Volume Forecast by Type
5.3.1. Class 1
5.3.2. Class 2
5.3.3. Class 3
5.3.4. Class 4/5
5.3.5. In 2018, Class 4/5 forklift trucks accounted for a major share of 39% the global forklift trucks market.
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Forklift Trucks 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 Trucks Market Size and Volume Forecast by Application
6.3.1. Factories
6.3.2. Warehouses
6.3.3. Distribution Centers
6.3.4. Others
6.3.5. The warehouses hold an important share in terms of applications, and accounts for 37% of the market share.
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Forklift Trucks 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 Trucks 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 Trucks 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 Trucks 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 Trucks Demand Share Forecast, 2019-2026
9. North America Forklift Trucks 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 Trucks 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 Trucks Market Size and Volume Forecast by Application
9.4.1. Factories
9.4.2. Warehouses
9.4.3. Distribution Centers
9.4.4. Others
9.4.5. The warehouses hold an important share in terms of applications, and accounts for 37% of the market share.
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Forklift Trucks Market Size and Volume Forecast by Type
9.7.1. Class 1
9.7.2. Class 2
9.7.3. Class 3
9.7.4. Class 4/5
9.7.5. In 2018, Class 4/5 forklift trucks accounted for a major share of 39% the global forklift trucks market.
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 Trucks Demand Share Forecast, 2019-2026
10. Latin America Forklift Trucks 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 Trucks 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 Trucks Market Size and Volume Forecast by Application
10.4.1. Factories
10.4.2. Warehouses
10.4.3. Distribution Centers
10.4.4. Others
10.4.5. The warehouses hold an important share in terms of applications, and accounts for 37% of the market share.
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Forklift Trucks Market Size and Volume Forecast by Type
10.7.1. Class 1
10.7.2. Class 2
10.7.3. Class 3
10.7.4. Class 4/5
10.7.5. In 2018, Class 4/5 forklift trucks accounted for a major share of 39% the global forklift trucks market.
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 Trucks Demand Share Forecast, 2019-2026
11. Europe Forklift Trucks 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 Trucks 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 Trucks Market Size and Volume Forecast by Application
11.4.1. Factories
11.4.2. Warehouses
11.4.3. Distribution Centers
11.4.4. Others
11.4.5. The warehouses hold an important share in terms of applications, and accounts for 37% of the market share.
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Forklift Trucks Market Size and Volume Forecast by Type
11.7.1. Class 1
11.7.2. Class 2
11.7.3. Class 3
11.7.4. Class /5
11.7.5. In 2018, Class 4/5 forklift trucks accounted for a major share of 39% the global forklift trucks market.
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 Trucks Demand Share, 2019-2026
12. Asia Pacific Forklift Trucks 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 Trucks 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 Trucks Market Size and Volume Forecast by Application
12.4.1. Factories
12.4.2. Warehouses
12.4.3. Distribution Centers
12.4.4. Others
12.4.5. The warehouses hold an important share in terms of applications, and accounts for 37% of the market share.
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Forklift Trucks Market Size and Volume Forecast by Type
12.7.1. Class 1
12.7.2. Class 2
12.7.3. Class 3
12.7.4. Class 4/5
12.7.5. In 2018, Class 4/5 forklift trucks accounted for a major share of 39% the global forklift trucks market.
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 Trucks Demand Share, 2019-2026
13. Middle East & Africa Forklift Trucks 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 Trucks 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 Trucks Market Size and Volume Forecast by Application
13.4.1. Factories
13.4.2. Warehouses
13.4.3. Distribution Centers
13.4.4. Others
13.4.5. The warehouses hold an important share in terms of applications, and accounts for 37% of the market share.
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Forklift Trucks Market Size and Volume Forecast by Type
13.7.1. Class 1
13.7.2. Class 2
13.7.3. Class 3
13.7.4. Class 4/5
13.7.5. In 2018, Class 4/5 forklift trucks accounted for a major share of 39% the global forklift trucks market.
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 Trucks Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Forklift Trucks Market: Market Share Analysis
14.2. Forklift Trucks Distributors and Customers
14.3. Forklift Trucks 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
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
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Mitsubishi Logisnext
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. Hyster-Yale
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Anhui Heli
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Hangcha
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Clark Material Handling
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Doosan Corporation Industrial Vehicle
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Komatsu
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Lonking
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. EP Equipment
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Manitou
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Paletrans Equipment
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Combilift
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Hubtex Maschinenbau
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. Developmen
