Market Overview:
The global forklift trucks and lift trucks market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for forklift trucks and lift trucks in various industrial applications, such as factories, warehouses, stations, ports, airports, and others. Diesel forklift trucks are expected to dominate the global market in terms of revenue share during the forecast period owing to their high efficiency and durability as compared to electric or fuel cells forklift trucks. Asia Pacific is projected to be the fastest-growing region in terms of revenue growth during the forecast period followed by Europe.
Product Definition:
A forklift or lift truck is a powered industrial truck used to move materials short distances. Forklifts are widely used in warehouses, factories and retail establishments. The importance of forklifts & lift trucks is that they can move large quantities of material quickly and easily, which can save time and labor costs.
Diesel Forklift Trucks:
Diesel forklift trucks are used to carry heavy loads over short distances. They are diesel-powered engine vehicles that can be used for loading and unloading materials from storage units or production facilities. The growth of the global lift truck market is directly proportional to the growth of the global construction industry, as both industries use similar types of equipment extensively.
Electric Forklift Trucks:
An electric forklift truck is a type of lift truck that is powered by electricity and differs from a diesel or gas-powered lift trucks in terms of its power source. The demand for electric forklifts has been increasing over the past few years owing to the stringent government regulations regarding greenhouse gas emissions, which have resulted in increased sales of zero-emission vehicles such as battery powered forklifts.
Application Insights:
The factories segment dominated the market in 2017 and is expected to witness significant growth over the forecast period. The rising demand for industrial machinery, which includes forklifts, is a major factor contributing to the segment¢â‚¬â„¢s dominance. Strict government regulations regarding workplace safety and increasing awareness among manufacturers about developing markets are some of the factors that will drive industry growth over the next eight years.
Factories accounted for more than 60% of total revenue in 2017 owing to their high utilization rate across various industries including automotive, manufacturing, pharmaceuticals and food processing etc. Increasing production rates coupled with an increase in consumer demand are expected to be major driving forces behind this application segment during this forecast period.
The warehousing & storage segment accounted for more than 11% share of overall revenue in 2017 due largely to its high adoption rate across various industries including retailing as well as e-commerce etc., healthcare etc.
Regional Analysis:
North America dominated the market in terms of revenue with a share of over 40.0% in 2017. This is attributed to the presence of prominent players such as Crown Equipment Corporation, AGCO, and Kubota Corporation that manufacture industrial trucks and have a strong distribution network across North America. The region is expected to maintain its dominance throughout the forecast period owing to growing demand from industries including food & beverage, retail & e-commerce, manufacturing etc., for efficient material handling solutions at workplace.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to increasing adoption by manufacturers for production facilities as well as warehouses due to low labor cost along with easy availability of land in this region which helps reduce overall operating costs resulting into an attractive investment opportunity for several international companies looking out for long term business partnerships rather than short term profits or quick returns on their investments (i.e., acquisition).
Growth Factors:
- Increasing demand for forklifts and lift trucks from the automotive sector as a result of the growth of the automotive industry.
- The increasing use of forklifts and lift trucks in warehouses and distribution centers to handle increased volumes of goods.
- The growing popularity of electric forklifts and lift trucks, which are more environmentally friendly than traditional gas-powered models.
- The increasing demand for used forklifts and lift trucks from businesses that want to save on costs without compromising on quality or performance.
- The development of new technologies that make forklifts and lift trucks more efficient, reliable, and safe to operate
Scope Of The Report
Report Attributes
Report Details
Report Title
Forklifts & Lift Trucks Market Research Report
By Type
Diesel Forklift Trucks, Electric Forklift Trucks, Fuel Cells Forklift Trucks
By Application
Factories, Warehouses, Stations, Ports, Airports
By Companies
Toyota, Kion, Jungheinrich, Hyster-Yale, Crown, Mitsubishi Nichiyu, UniCarriers, Anhui Heli, Hangcha, Komatsu, Clark, Doosan, Hyundai, EP, Lonking, Combilift, Tailift Group, Hubtex, Hytsu Group, Godrej & Boyce, Paletrans
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
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Forklifts & Lift Trucks Market Report Segments:
The global Forklifts & Lift Trucks market is segmented on the basis of:
Types
Diesel Forklift Trucks, Electric Forklift Trucks, Fuel Cells Forklift Trucks
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
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
- Hyster-Yale
- Crown
- Mitsubishi Nichiyu
- UniCarriers
- Anhui Heli
- Hangcha
- Komatsu
- Clark
- Doosan
- Hyundai
- EP
- Lonking
- Combilift
- Tailift Group
- Hubtex
- Hytsu Group
- Godrej & Boyce
- Paletrans
Highlights of The Forklifts & Lift 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:
- Diesel Forklift Trucks
- Electric Forklift Trucks
- Fuel Cells Forklift Trucks
- By Application:
- Factories
- Warehouses
- Stations
- Ports
- Airports
- 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 Forklifts & Lift 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?
Forklifts and lift trucks are machines that move materials by using forks or claws to move the load. Forklifts are typically used in warehouses, factories, and other industrial settings. Lift trucks are often used in construction sites and other areas where heavy loads need to be moved quickly.
Some of the key players operating in the forklifts & lift trucks market are Toyota, Kion, Jungheinrich, Hyster-Yale, Crown, Mitsubishi Nichiyu, UniCarriers, Anhui Heli, Hangcha, Komatsu, Clark, Doosan, Hyundai, EP, Lonking, Combilift, Tailift Group, Hubtex, Hytsu Group, Godrej & Boyce, Paletrans.
The forklifts & lift trucks market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Forklifts & Lift 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. Forklifts & Lift Trucks Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Forklifts & Lift Trucks Market - Supply Chain
4.5. Global Forklifts & Lift Trucks Market Forecast
4.5.1. Forklifts & Lift Trucks Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Forklifts & Lift Trucks Market Size (000 Units) and Y-o-Y Growth
4.5.3. Forklifts & Lift Trucks Market Absolute $ Opportunity
5. Global Forklifts & Lift 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. Forklifts & Lift Trucks Market Size and Volume Forecast by Type
5.3.1. Diesel Forklift Trucks
5.3.2. Electric Forklift Trucks
5.3.3. Fuel Cells Forklift Trucks
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Forklifts & Lift 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. Forklifts & Lift Trucks 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
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Forklifts & Lift 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. Forklifts & Lift 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 Forklifts & Lift 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. Forklifts & Lift 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 Forklifts & Lift Trucks Demand Share Forecast, 2019-2026
9. North America Forklifts & Lift 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 Forklifts & Lift 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 Forklifts & Lift Trucks 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
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Forklifts & Lift Trucks Market Size and Volume Forecast by Type
9.7.1. Diesel Forklift Trucks
9.7.2. Electric Forklift Trucks
9.7.3. Fuel Cells Forklift Trucks
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 Forklifts & Lift Trucks Demand Share Forecast, 2019-2026
10. Latin America Forklifts & Lift 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 Forklifts & Lift 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 Forklifts & Lift Trucks 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
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Forklifts & Lift Trucks Market Size and Volume Forecast by Type
10.7.1. Diesel Forklift Trucks
10.7.2. Electric Forklift Trucks
10.7.3. Fuel Cells Forklift Trucks
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 Forklifts & Lift Trucks Demand Share Forecast, 2019-2026
11. Europe Forklifts & Lift 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 Forklifts & Lift 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 Forklifts & Lift Trucks 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
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Forklifts & Lift Trucks Market Size and Volume Forecast by Type
11.7.1. Diesel Forklift Trucks
11.7.2. Electric Forklift Trucks
11.7.3. Fuel Cells Forklift Trucks
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 Forklifts & Lift Trucks Demand Share, 2019-2026
12. Asia Pacific Forklifts & Lift 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 Forklifts & Lift 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 Forklifts & Lift Trucks 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
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Forklifts & Lift Trucks Market Size and Volume Forecast by Type
12.7.1. Diesel Forklift Trucks
12.7.2. Electric Forklift Trucks
12.7.3. Fuel Cells Forklift Trucks
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 Forklifts & Lift Trucks Demand Share, 2019-2026
13. Middle East & Africa Forklifts & Lift 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 Forklifts & Lift 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 Forklifts & Lift Trucks 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
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Forklifts & Lift Trucks Market Size and Volume Forecast by Type
13.7.1. Diesel Forklift Trucks
13.7.2. Electric Forklift Trucks
13.7.3. Fuel Cells Forklift Trucks
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 Forklifts & Lift Trucks Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Forklifts & Lift Trucks Market: Market Share Analysis
14.2. Forklifts & Lift Trucks Distributors and Customers
14.3. Forklifts & Lift 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. Hyster-Yale
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
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
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Anhui Heli
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Hangcha
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Komatsu
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Clark
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
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
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
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. Combilift
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Tailift Group
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
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Hytsu Group
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Godrej & Boyce
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
