Forklift Truck Market Trend Outlook And Business Opportunities 2020-2027

Posted by avinash on March 4th, 2020

The global forklift truck market was valued at US$ 17.74 billion in 2017 and is projected to exhibit a CAGR of 4.02% over the forecast period, reaching US$ 25.04 billion by 2027. Forklift trucks are mainly used for material handling, lifting, and stacking of discrete loads throughout facilities such as retail warehouses. These vehicles can be used with a variety of attachments such as clamps, grippers, and platforms to move and handle different types of materials and loads. Expansion of the logistics industry and economic growth in emerging economies have led to increasing logistics volume, which, in turn, is boosting growth of the forklift trucks market.

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Market Dynamics

Growing e-commerce & warehousing industries is driving growth of the global forklift truck market. According to data published by the Action Construction Equipment Ltd in June 2019, warehousing industry is extremely fragmented in India. Almost 90% of the warehousing space is controlled by the unorganized players. It has huge growth potential and is slated to become regularized over the next few years

Detailed Segmentation:

• Global Forklift Truck Market, By Product Type:

  • Warehouse

    • Pedestrian

    • Rider

  • Counterbalance

• Global Forklift Truck Market, By Class:

  • Class I : Electric Motor Rider Trucks

  • Class II : Electric Motor Narrow Aisle Trucks

  • Class III : Electric Motor Pedestrian Trucks

  • Class IV : Internal Combustion Engine Trucks (Solid/Cushion Tires)

  • Class V : Internal Combustion Engine Trucks (Pneumatic Tires)

• Global Forklift Truck Market, By Fuel Type:

  • Diesel

  • Gasoline& LPG/CNG

  • Electric/Hybrid

• Global Forklift Truck Market, By Engine Type:

  • IC Engine Power

  • Electric Power

• Global Forklift Truck Market, By Lifting Capacity:

  • < 5 Ton

  • 5 Ton – 10 Ton

  • 11 Ton – 36 Ton

  • > 36 Ton

• Global Forklift Truck Market, By End-use Industry:

  • Retail & Wholesale

  • Transportation & logistics

  • Automotive and Electrical engineering

  • Food Industry

  • Other Industries (Chemical, Timber, and Paper & Print Industry)

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Prominent players in the global forklift market are Toyota Industries Corporation, Kion Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Crown Equipment Corporation, Mitsubishi Nichiyu Forklift Co., Ltd., UniCarriers Americas Corporation, Anhui Heli Company Limited, Komatsu Ltd., Clark Material Handling Company, Doosan Industrial Vehicle, Hangcha Group Co., Ltd., JBT Corporation, Combilift Ltd, Godrej & Boyce Mfg. Co. Ltd., and Linde Material Handling

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