Market Overview:
The global fuel cell forklift market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for fuel cell forklifts in various applications such as warehouse logistics, dock handling, and others. Additionally, the growing awareness about the benefits of fuel cell forklifts is also contributing to the growth of this market. The global fuel cell forklift market can be segmented on the basis of type into PEMFC Forklift, DMFC Forklift, and others. The PEMFC Forklift segment is expected to hold a major share in this market owing to its high efficiency and low emissions. On the basis of application, the global fuel cell forklift market can be divided into warehouse logistics, dock handling, and other applications. The warehouse logistics segment is anticipated to account for a majority share in this market due to rising demand from e-commerce companies across regions.
Product Definition:
A fuel cell forklift is a type of forklift that uses a fuel cell to power its electric motors. Fuel cells are environmentally friendly and produce no emissions, making them a good choice for use in warehouses and other facilities where emissions would be an issue. Fuel cells also have a longer lifespan than traditional batteries, making them a more cost effective option in the long run.
PEMFC Forklift:
The PEMFC forklift is a fuel cell-powered machine used for lifting and carrying materials. It has advantages over conventional machines such as reduced noise, vibration, and emissions; efficient use of energy; and improved safety.
DMFC Forklift:
DMFC forklift is a type of fuel cell forklift which uses hydrogen as its source of energy. It has been designed and developed by the Doosan Mining Machine Company, a South Korean manufacturer of mining machinery. The DMFC forklift was first demonstrated in October 2010 at the International Conference on Hydrogen Energy in Busan, South Korea.
The global market for DMFC Forklifts was estimated to be worth USD 3 million in 2012.
Application Insights:
The warehouse logistics application segment accounted for the largest market share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for fuel cell forklifts in warehouses, which offer zero emission and improved workplace environment owing to reduced use of toxic chemicals. Furthermore, growing adoption of PEMFC forklifts with features such as fast refueling, high load capacity and compact design are expected to drive the segment further.
The others application segment includes applications such as material handling equipment, machine shop equipment and repair & maintenance vehicles among others. Growing awareness regarding environment protection along with government initiatives that promote electric vehicle usage is anticipated to drive the product demand in this application segment over the forecast period significantly contributing towards market growth across various regions globally by 2030.
Regional Analysis:
North America accounted for the largest market share in 2017 owing to the presence of a large number of fuel cell manufacturers and research organizations. The region is expected to maintain its dominance over the forecast period, with an increase in demand from end-use industries such as logistics and warehousing, transportation, food service operations, healthcare facilities management among others.
The U.S., which was at the forefront of North America fuel cell forklift industry growth has witnessed a decline in sales volume since 2016 on account of limited product availability due to manufacturing issues faced by key players including Hyundai Heavy Industries Co., Ltd.; Clipper Wind Energy; FuelCell Energy Inc.; Air Liquide N.V.; Johnson Controls Bancshares Inc.; LG Chem Automotive Gpj; Toshiba Global Commerce Solutions (GCS) Americas LLC; Boeing Company Japan Ltd.; Hitachi Construction Machinery Corporation among others.
Growth Factors:
- Increasing demand for fuel cell forklifts from the automotive and logistics sectors on account of benefits such as high efficiency, low emissions, and long operating life
- Proliferation of hydrogen refueling stations across key markets to support the adoption of fuel cell forklifts
- Development of next-generation fuel cells that offer improved performance and lower costs
- Growing awareness about the benefits of fuel cell forklifts among end-users
- Rising investments in research and development activities for developing new applications for fuel cell forklifts
Scope Of The Report
Report Attributes
Report Details
Report Title
Fuel Cell Forklift Market Research Report
By Type
PEMFC Forklift, DMFC Forklift, Others
By Application
Warehouse Logistics, Dock Handling, Other
By Companies
Toyota, Hyster-Yale Materials Handling, Linde Material Handling, STILL GmbH, Plug Power, Oorja Protonics, Hydrogenics, H2 Logic, Beijing SinoHytec
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
160
Number of Tables & Figures
112
Customization Available
Yes, the report can be customized as per your need.
Global Fuel Cell Forklift Market Report Segments:
The global Fuel Cell Forklift market is segmented on the basis of:
Types
PEMFC Forklift, DMFC 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
Warehouse Logistics, Dock Handling, Other
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
- Hyster-Yale Materials Handling
- Linde Material Handling
- STILL GmbH
- Plug Power
- Oorja Protonics
- Hydrogenics
- H2 Logic
- Beijing SinoHytec
Highlights of The Fuel Cell 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:
- PEMFC Forklift
- DMFC Forklift
- Others
- By Application:
- Warehouse Logistics
- Dock Handling
- Other
- 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 Fuel Cell 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
- Market Entry Strategies
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- Product & Brand Management
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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 fuel cell forklift is a type of electric vehicle that uses a fuel cell to convert chemical energy into electrical energy. This allows the forklift to operate without any external sources of power, such as batteries or gasoline.
Some of the major companies in the fuel cell forklift market are Toyota, Hyster-Yale Materials Handling, Linde Material Handling, STILL GmbH, Plug Power, Oorja Protonics, Hydrogenics, H2 Logic, Beijing SinoHytec.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Fuel Cell Forklift Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Fuel Cell Forklift Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Fuel Cell Forklift Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Fuel Cell Forklift Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Fuel Cell Forklift Market Size & Forecast, 2018-2028
4.5.1 Fuel Cell Forklift Market Size and Y-o-Y Growth
4.5.2 Fuel Cell Forklift Market Absolute $ Opportunity
Chapter 5 Global Fuel Cell Forklift Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Fuel Cell Forklift Market Size Forecast by Type
5.2.1 PEMFC Forklift
5.2.2 DMFC Forklift
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Fuel Cell Forklift Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Fuel Cell Forklift Market Size Forecast by Applications
6.2.1 Warehouse Logistics
6.2.2 Dock Handling
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Fuel Cell Forklift Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Fuel Cell Forklift Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Fuel Cell Forklift Analysis and Forecast
9.1 Introduction
9.2 North America Fuel Cell Forklift Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Fuel Cell Forklift Market Size Forecast by Type
9.6.1 PEMFC Forklift
9.6.2 DMFC Forklift
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Fuel Cell Forklift Market Size Forecast by Applications
9.10.1 Warehouse Logistics
9.10.2 Dock Handling
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Fuel Cell Forklift Analysis and Forecast
10.1 Introduction
10.2 Europe Fuel Cell Forklift Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Fuel Cell Forklift Market Size Forecast by Type
10.6.1 PEMFC Forklift
10.6.2 DMFC Forklift
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Fuel Cell Forklift Market Size Forecast by Applications
10.10.1 Warehouse Logistics
10.10.2 Dock Handling
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Fuel Cell Forklift Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Fuel Cell Forklift Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Fuel Cell Forklift Market Size Forecast by Type
11.6.1 PEMFC Forklift
11.6.2 DMFC Forklift
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Fuel Cell Forklift Market Size Forecast by Applications
11.10.1 Warehouse Logistics
11.10.2 Dock Handling
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Fuel Cell Forklift Analysis and Forecast
12.1 Introduction
12.2 Latin America Fuel Cell Forklift Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Fuel Cell Forklift Market Size Forecast by Type
12.6.1 PEMFC Forklift
12.6.2 DMFC Forklift
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Fuel Cell Forklift Market Size Forecast by Applications
12.10.1 Warehouse Logistics
12.10.2 Dock Handling
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Fuel Cell Forklift Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Fuel Cell Forklift Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Fuel Cell Forklift Market Size Forecast by Type
13.6.1 PEMFC Forklift
13.6.2 DMFC Forklift
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Fuel Cell Forklift Market Size Forecast by Applications
13.10.1 Warehouse Logistics
13.10.2 Dock Handling
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Fuel Cell Forklift Market: Competitive Dashboard
14.2 Global Fuel Cell Forklift Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Toyota
14.3.2 Hyster-Yale Materials Handling
14.3.3 Linde Material Handling
14.3.4 STILL GmbH
14.3.5 Plug Power
14.3.6 Oorja Protonics
14.3.7 Hydrogenics
14.3.8 H2 Logic
14.3.9 Beijing SinoHytec
