Market Overview:
The global LPG forklift truck 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 LPG forklift trucks in warehouses, factories, and distribution centers across the globe. Additionally, the growing awareness about the benefits of using LPG forklift trucks is also contributing to the growth of this market. The global LPG forklift truck market can be segmented on the basis of type into class 1, class 2, class 3, and class 4/5. The Class 1 segment is expected to account for a major share of the global LPG Forklift Truck Market duringthe forecast period owingto its low cost and easy operability.
Product Definition:
LPG Forklift Truck is a type of forklift truck that uses liquefied petroleum gas as its motive power. It has a much higher fuel efficiency than petrol or diesel forklifts, and produces much less pollution. This makes it an environmentally friendly option for indoor use. LPG Forklift Trucks are also quieter than other types of forklift trucks, making them ideal for use in enclosed spaces.
Class 1:
The global class 1, it's usage and growth factor in LPG forklift truck market size was valued at USD 0.91 billion in 2016. It is expected to expand at a CAGR of XX% over the forecast period owing to increasing demand for on-site warehousing coupled with rising preference for small load lifting solutions among end-users due to space constraints in retail & industrial areas.
Class 2:
The global class 2 and it's usage in LPG forklift truck market is expected to witness significant growth over the forecast period. The demand for class 2 and it's sub-classifications (2A, 2B, & 2C) can be primarily attributed to growing emphasis on safety at the workplace coupled with increasing awareness regarding employee health & safety.
Application Insights:
The warehouses segment dominated the global LPG forklift truck market in 2017 and is expected to witness significant growth over the forecast period. The growing demand for stored products, such as food grains, consumer goods, chemicals & pharmaceuticals and other industrial supplies drives the need for efficient storage facilities that use a limited amount of floor space. This has led to an increased demand for warehouse automation solutions that include inventory management systems with barcode scanning functionality.
Factories are another major application segment where LPG forklift trucks are widely used owing to their ability to work in narrow spaces between machines and equipment along with their load-bearing capacity. These trucks can be deployed at multiple locations within a factory complex so they can access different parts of the building from remote areas without having physical contact with any device or machine on stock or production lines.
Regional Analysis:
Asia Pacific dominated the global LPG forklift truck market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing industrialization, rising disposable income, and growing investments in various infrastructure projects. Furthermore, favorable government regulations are anticipated to drive demand for LPG forklifts across this region. For instance, according to International Fuel Gas Association (IFGA), India has reduced FDI norms for fueling stations from 100% down to 50% which will further boost adoption of these trucks across the country.
Europe accounted for a significant share of revenue in 2017 owing high adoption rates of advanced technologies such as automated guided vehicles (AGVs) and self-driving trucks coupled with stringent safety norms set by governing bodies such as URSI Group B accident rate per million hours worked). Moreover, technological advancements have led European companies such as DHL Global Mailing Systems GmbH & Co.
Growth Factors:
- Increasing demand for forklift trucks from the logistics and warehousing sector.
- Rising demand for LPG forklift trucks from small and medium enterprises (SMEs).
- Growing popularity of LPG-powered forklifts among end-users due to their lower emissions and fuel costs as compared to diesel-powered variants.
- Proliferation of ecommerce industry, which is leading to an increase in the number of warehouses and distribution centers across the globe, thereby fueling the growth of the LPG Forklift Truck market.
Scope Of The Report
Report Attributes
Report Details
Report Title
LPG Forklift Truck Market Research Report
By Type
Class 1, Class 2, Class 3, Class 4/5
By Application
Warehouses, Factories, Distribution Centers, Others
By Companies
Toyota, Jungheinrich, Linde Material Handling, CLARK, Combilift, Nissan Forklift, Mitsubishi, Zoomlion, Hyundai Heavy Industries, Manitou, Doosan Corporation, Hyster-Yale, Caterpillar
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
244
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global LPG Forklift Truck Market Report Segments:
The global LPG Forklift Truck market is segmented on the basis of:
Types
Class 1, Class 2, Class 3, Class 4/5
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
Warehouses, Factories, 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:
- Toyota
- Jungheinrich
- Linde Material Handling
- CLARK
- Combilift
- Nissan Forklift
- Mitsubishi
- Zoomlion
- Hyundai Heavy Industries
- Manitou
- Doosan Corporation
- Hyster-Yale
- Caterpillar
Highlights of The LPG Forklift Truck 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
- By Application:
- Warehouses
- Factories
- 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 LPG Forklift Truck 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?
LPG Forklift Truck is a type of truck that uses liquefied petroleum gas (LPG) as its fuel.
Some of the major players in the lpg forklift truck market are Toyota, Jungheinrich, Linde Material Handling, CLARK, Combilift, Nissan Forklift, Mitsubishi, Zoomlion, Hyundai Heavy Industries, Manitou, Doosan Corporation, Hyster-Yale, Caterpillar.
The lpg forklift truck 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. LPG Forklift Truck 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. LPG Forklift Truck Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. LPG Forklift Truck Market - Supply Chain
4.5. Global LPG Forklift Truck Market Forecast
4.5.1. LPG Forklift Truck Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. LPG Forklift Truck Market Size (000 Units) and Y-o-Y Growth
4.5.3. LPG Forklift Truck Market Absolute $ Opportunity
5. Global LPG Forklift Truck 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. LPG Forklift Truck 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
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global LPG Forklift Truck 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. LPG Forklift Truck Market Size and Volume Forecast by Application
6.3.1. Warehouses
6.3.2. Factories
6.3.3. Distribution Centers
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global LPG Forklift Truck 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. LPG Forklift Truck 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 LPG Forklift Truck 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. LPG Forklift Truck 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 LPG Forklift Truck Demand Share Forecast, 2019-2026
9. North America LPG Forklift Truck 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 LPG Forklift Truck 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 LPG Forklift Truck Market Size and Volume Forecast by Application
9.4.1. Warehouses
9.4.2. Factories
9.4.3. Distribution Centers
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 LPG Forklift Truck 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
9.8. 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 LPG Forklift Truck Demand Share Forecast, 2019-2026
10. Latin America LPG Forklift Truck 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 LPG Forklift Truck 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 LPG Forklift Truck Market Size and Volume Forecast by Application
10.4.1. Warehouses
10.4.2. Factories
10.4.3. Distribution Centers
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 LPG Forklift Truck 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
10.8. 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 LPG Forklift Truck Demand Share Forecast, 2019-2026
11. Europe LPG Forklift Truck 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 LPG Forklift Truck 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 LPG Forklift Truck Market Size and Volume Forecast by Application
11.4.1. Warehouses
11.4.2. Factories
11.4.3. Distribution Centers
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 LPG Forklift Truck 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 4/5
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growh 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 LPG Forklift Truck Demand Share, 2019-2026
12. Asia Pacific LPG Forklift Truck 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 LPG Forklift Truck 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 LPG Forklift Truck Market Size and Volume Forecast by Application
12.4.1. Warehouses
12.4.2. Factories
12.4.3. Distribution Centers
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 LPG Forklift Truck 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
12.8. 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 LPG Forklift Truck Demand Share, 2019-2026
13. Middle East & Africa LPG Forklift Truck 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 LPG Forklift Truck 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 LPG Forklift Truck Market Size and Volume Forecast by Application
13.4.1. Warehouses
13.4.2. Factories
13.4.3. Distribution Centers
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 LPG Forklift Truck 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
13.8. 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 LPG Forklift Truck Demand Share, 2019-2026
14. Competition Landscape
14.1. Global LPG Forklift Truck Market: Market Share Analysis
14.2. LPG Forklift Truck Distributors and Customers
14.3. LPG Forklift Truck 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. Jungheinrich
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Linde Material Handling
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. CLARK
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Combilift
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Nissan Forklift
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
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Zoomlion
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Hyundai Heavy Industries
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Manitou
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Doosan Corporation
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Hyster-Yale
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Caterpillar
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
