Forklift trucks are motorized vehicles primarily used for independent lifting, movement, and placement of discrete loads throughout a facility. These mobile loading trucks can be outfitted with forks for pallet-based unit load picking and for loads that are not palletized. These vehicles can be used with a variety of attachments such as platforms, grippers, or clamps. To move lighter loads, manually powered vehicles such as carts and hand trucks are used. One of the challenging tasks in warehouses and distribution centers is that of placing and removing loads from storage racks, loading and unloading trailers in the yard or at the dock, delivering components to the assembly line, and positioning loads for further handling processes. To complete such tasks, forklift trucks are used across various industries such as aerospace, automotive, food and beverages, construction, consumer goods, e-commerce, and retail.
The report analyses the global forklift truck market in terms of value (US$ Mn) and volume (Units), by region, product type, technology type, and by class, and provides insightful information about market dynamics, value chain, competitive landscape, current trends, and market estimations and forecast.
Key driving factors identified in the global forklift truck market include expansion of warehouse space globally, growing e-commerce business across the globe, strong demand for forklift truck replacement in developed markets, and bulk investments in purchase of low-cost forklift trucks in emerging markets. However, increasing the purchase and associated costs of forklift trucks, and growing environmental concerns regarding the use of IC-engine type forklift trucks could pose some challenges in the coming years. Some of the major trends identified in the forklift truck market are integration of innovative technologies, such as Internet of Things (IoT), cloud computing, and big data, to bolster sales in developed markets and focus of manufacturers on reducing emissions by decreasing weight of IC engine powered trucks.
By product type, counterbalance type forklift truck was the largest segment in the global forklift truck market in 2014, accounting for 62.3% volume share of the overall market. This segment continues to dominate the market currently in 2015 and the trend is expected to continue over the forecast period as well. Globally, in terms of volume, the electrically powered type forklift truck was the predominant technology segment in 2014, accounting for 57.3% share of the global forklift truck market, and the segment is estimated to account for 64.4% share of the overall market by 2021, which is attributed to the increasing demand for electric type forklift trucks in emerging markets such as China, India, and Brazil.
On the basis of technology type, Globally, in terms of volume, electric powered type forklift truck was the predominant technology segment in 2014, accounting for Major share of the global market, and the segment is estimated to account for 64.4% share of the overall market by 2021, which is attributed to the increasing demand for electric type forklift trucks in emerging markets such as China, India, and Brazil.
The global forklift trucks market is also thriving due to the increasing export demands from the developing countries. Among regions, Asia Pacific dominated the global sales of forklift trucks in 2014. Europe ranked second in 2014, closely followed by North America. The demand for forklift trucks is increasing at a high pace in the Asia-Pacific due to the increasing demand from countries such as China, Japan, and India. China’s forklift trucks market is dominated by internal combustion truck followed by Eastern Europe is witnessing high growth. One of the biggest restraints for the forklift trucks is their high cost, due to which many of the small scale industries prefer to avail their services on rent rather than owning it.
Key market participants covered in the report include Kion Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Toyota Industries Corporation (TICO), Mitsubishi Nichiyu Forklift Co., Ltd., Crown Equipment Corporation, Anhui HeLi Co., Ltd., CLARK Material Handling Co., Ltd., and UniCarriers Americas Corporation.
The forklift Truck Market is segmented into:
Forklift Trucks, by product type Counterbalance Warehouse Forklift Trucks Market, by technology type Internal Combustion (IC) engine powered Electric powered Forklift Trucks Market, by class Class 1 Class 2 Class 3 Class 4 Class 5 Forklift Trucks Market, by region North America U.S Canada Latin America Brazil Mexico Europe Eastern Western Europe Asia Pacific China India Japan Australia Others The Middle East & Africa GCC South Africa
Our reports have been used by over 10K customers, including:
Aerial Work Platform Truck Market Research Report by Product (Boom Lifts, Personnel Portable Lift, Scissor Lifts, and Vertical Mast Lift), by Application (Construction, Government, Telecommunication, and Transport & Logistics) - Global Forecast to 2025 - Cumulative Impact of COVID-19 The Global Aerial Work Platform...
The AGV market is projected to grow at a significant rate from 2020 to 2025. The AGV market is projected to grow from USD 2.3 billion in 2020 to USD 3.6 billion by 2025; it is expected to grow at a CAGR of 9.3% from 2020 to 2025. The growth of the AGV market is driven by growing demand for automation in material handling...
181 pages •
By Global Industry Analysts
• Sep 2020
Global Commercial Vehicle Air Filter Market to Reach 59.1 Million Units by the Year 2027 Amid the COVID-19 crisis, the global market for Commercial Vehicle Air Filter estimated at 45.3 Million Units in the year 2020, is projected to reach a revised size of 59.1 Million Units by 2027, growing at a CAGR of 3.9% over the period 2020-2027.OEM,...
179 pages •
By Global Industry Analysts
• Sep 2020
Global Automotive Starter Motor Market to Reach 109.7 Million Units by 2027 Amid the COVID-19 crisis, the global market for Automotive Starter Motor estimated at 91.7 Million Units in the year 2020, is projected to reach a revised size of 109.7 Million Units by 2027, growing at a CAGR of 2.6% over the analysis period 2020-2027....
Increasing adoption of sunroof and rear quarter glass in premium vehicles and SUVs will drive the automotive (polycarbonate) glazing market. The global automotive glazing market size is estimated to be USD 1.0 billion in 2020 and is projected to reach USD 1.7 billion by 2025, at a CAGR of 9.9%. The demand for automotive glazing is driven...
Truck Loader Crane Market Research Report by Product (Big Duty, Medium Duty, and Small Duty), by End Use (Construction, Energy, Oil & Gas, and Rental) - Global Forecast to 2025 - Cumulative Impact of COVID-19 The Global Truck Loader Crane Market is expected to grow from USD 1,556.69 Million in 2019 to USD 2,386.42 Million...
185 pages •
By Global Industry Analysts
• Jul 2020
Global Aerial Work Platform Truck Market to Reach $15.8 Billion by 2027 Amid the COVID-19 crisis, the global market for Aerial Work Platform Truck estimated at US$5.8 Billion in the year 2020, is projected to reach a revised size of US$15.8 Billion by 2027, growing at a CAGR of 15.4% over the analysis period 2020-2027. Boom Lifts,...
Rising demand for low noise and emission-free machines is the prominent factor for the growth of the electric off-highway vehicle market globally The global electric off-highway vehicle market size is projected to grow from USD 6.3 billion in 2020 to USD 17.5 billion by 2025, at a CAGR 22.8%. Caterpillar (US), Komatsu Ltd. (Japan), Hitachi...
120 pages •
By Infiniti Research Limited
• Jul 2020
Global Used Trucks Market 2020-2024 The analyst has been monitoring the used trucks market and it is poised to grow by 12.10 mn units during 2020-2024 progressing at a CAGR of 6% during the forecast period. Our reports on used trucks market provides a holistic analysis, market size and forecast, trends, growth drivers,...
Truck Mounted Concrete Pump Market Research Report by Type (Boom or Truck Mounted Pump, Specialized Usage Pump, and Trailer), by End Use (Commercial, Domestic, and Industrial) - Global Forecast to 2025 - Cumulative Impact of COVID-19 The Global Truck Mounted Concrete Pump Market is expected to grow from USD 333.85 Million...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.