Forklift Trucks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Forklift Trucks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

  • June 2020 •
  • 112 pages •
  • Report ID: 5917228 •
  • Format: PDF
The global forklift trucks market is currently witnessing strong growth.

A forklift truck is an industrial machine that consists of two horizontal prongs for loading, unloading and transporting goods and materials over short distances. It is usually operated by a trained machinist and is either powered by electric batteries or combustion engines. Forklift trucks consist of various components, such as truck frame, counterweight, forklift, carriage and hydraulic cylinders that aid in performing multiple industrial tasks efficiently. Owing to these benefits, they find extensive applications in warehouses, factories and dockyards across various industries, including automotive, aerospace, transportation, retail, manufacturing and construction.

The growing construction industry, along with rapid industrialization, is one of the key factors driving the growth of the market. Forklift trucks are highly economical, user-friendly, powerful and easy to maintain. As a result, they are widely used for performing various industrial tasks and handling heavy construction materials, such as wood, steel and mortar. Furthermore, an increasing number of warehouse establishments across the emerging economies is also providing a boost to the market growth. These trucks are utilized in the distribution centers and warehouses for laying and retrieving loads from storage racks, delivering components to assembly lines and positioning materials for further effective handling. Various product innovations, including the development of fuel cell-powered forklift trucks that can operate on hydrogen, are also creating a positive outlook for the market growth. These variants aid in reducing the carbon footprint significantly and enhancing the overall operational efficiency. Other factors, including technological advancements aimed at improving productivity and extensive research and development (R&D) activities, are projected to drive the market further. Looking forward, the analyst expects the market to register a CAGR of around 6% during 2020-2025.

Breakup by Product Type:
Counterbalanced Forklift Trucks
Warehouse Forklift Trucks

Breakup by Technology:
Electricity Powered
Internal Combustion Engine Powered

Breakup by Class:
Class I
Class II
Class III
Class IV
Class V

Breakup by Application:
Non-Industrial
Warehouses and Distribution Centers
Construction Sites
Dockyards
Snow Plows
Industrial
Manufacturing
Recycling Operations

Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Clark Material Handling Company, Crown Equipment Corporation, Godrej & Boyce, Hyster-Yale Materials Handling Inc., Hyundai Heavy Industries Co. Ltd, Jungheinrich, KION Group, Mitsubishi Forklift Trucks, Toyota Industries Corporation, etc.

Key Questions Answered in This Report:
How has the global forklift trucks market performed so far and how will it perform in the coming years?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the class?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global forklift trucks market and who are the key players?
What is the degree of competition in the industry?