Global Forklift Trucks Market showed crucial growth in recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ xx.xx over the forecast period. According to the latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 6.21% during the forecast period, i.e. 2017-2025. Fork Lift is an industrial truck, used to lift and move material over a short distance. This type of trucks is widely used in manufacturing and warehousing industries to lift, shift and stack heavy weights to reduce the time is taken and accidents. The prevalent version of forklift trucks is with internal Combustion Engine. However, due to rising environmental concerns, numerous companies have started manufacturing the electrically powered forklift trucks. For instance, the Jungheinrich offers EFG S30s electric fork lift truck, which won the IFOY award in 2015.  

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global forklift trucks market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global forklift trucks market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.

Market Dynamics

The global forklift trucks market is witnessing the growth due to the increasing e-commerce sector across the globe. According to the International Post Corporation, in 2016, global B2C ecommerce sales accounted for U.S$1.9 trillion. Forklift trucks are widely used in the e-commerce warehouses to relocate and to store the products over a short distance. Additionally, the market is also up surging, owing to the rising technological penetration in the forklift trucks. Automated forklift trucks benefit the various industries in automatically moving heavy loads, buffer storage, transport from production to warehousing, racking, deep-lane stacking and others.

Furthermore, the growth in the construction industry is another reason for the forklift trucks market growth. As per the study conducted by the Oxford Economics, the construction industry is anticipated to grow at U.S. $ 8 trillion by 2030, which will result in the demand growth of the forklift trucks over the decade.

Segment Analysis

Electric forklift trucks are expected to have substantial growth in the global forklift trucks market in the forecast period. The adoption of electric forklift trucks has increased due to the growing environmental concerns to reduce the carbon monoxide, nitrogen oxide, sulfur oxides emissions from the forklift trucks in warehouses, across the globe. For instance, the Australian Safety and Compensation Council had applied a norm which limits the exposure of carbon monoxide (per million parts of air) to 30 parts in the warehouses in Victoria.  Moreover, its significant advantages over the internal combustion engine are the reason for the demand growth by numerous end-use industries including construction, automotive and others. The benefits witnessed by the companies using electric forklift trucks include that, it is easy to maintain, energy efficient, eco-friendly, realistic alternatives to liquid-fueled trucks, cleaner, economical to operate and others. This is expected to propel the forklift trucks market in the near future.

Regional Analysis

The global forklift trucks market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; the Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. The Asia Pacific is expected to witness a substantial growth rate over the forecast period owing to the rapidly growing e-commerce market, particularly from India and China. For instance, according to the International Post Corporation, in 2016, APAC accounted for $11 trillion in e-commerce sales. The buyers in these economies are continuously raising their spending in the ecommerce platforms. According to India Brand Equity Foundation, the e-commerce market is anticipated to reach at $64 billion by 2020 and $200 billion by 2026 rising from $ 38.5 billion in 2017. As per this foundation, the Indian e-commerce market is expected to held the second largest e-commerce market by 2034. Therefore, the enormous rise in the e-commerce industry in this region would frost the forklift truck in the global forklift trucks market in the coming years.

Global Fork Lift Trucks Market Size, Share Analysis By Region 2017

The European region is anticipated to grow significantly over the forecast period in the global forklift trucks market, due to the rising investment in ports and construction sites. According to the British Port Association, the government of the U.K. is planning to invest significant funds to enhance the infrastructure of seaport and advancement of 18 ports in the U.K. between 2018-2022. Therefore, the expansion of the seaport would frost the forklift trucks market in the coming years. Major players offering robust forklift truck for ports includes Toyota Material Handling, Herculift, Kalmar, Lift Tito Trucks, and several others. The Middle East and Africa held the largest share of the global market in 2018 and will expand at the highest CAGR during the forecast years.

Global Fork Lift Trucks Market Study Objective

1. To forecast the market size of forklift trucks market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

2. Market analysis and forecast of forklift trucks market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

3. To analyze and elaborate significant factors that will have a major impact on the growth of forklift trucks market, such as drivers, restraints, challenges, and opportunities.

4. The regional analysis of forklift trucks market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.

5. Strategic analysis of micro markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.

6. To provide detailed analysis of competitive and strategic developments in the forklift trucks market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

Key Players Landscape

Leading players are operating in the Fork Lift Trucks Market includes Crown Equipment Corporation, Daimler AG, Hyster Yale Material Handling, Inc., Komatsu Ltd., Doosan Industrial Vehicle, Clark Material Handling Company, and several others. For instance, in 2018, Hyster Yale announced the acquisition of Zhejiang Maximal Forklift C0., Ltd. to expand the manufacturing capabilities and strengthening the Hyter-Yale product portfolio in the Chinese market.  Moreover, the company has been renamed with Hyster-Yale Maximal Forklift (Zhejiang) Co., ltd., after the acquisition.

Global Forklift Trucks Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment, and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities, and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review, and market prediction & projection to develop effective strategies for optimizing their market position.