Forklift Truck Market - Insights, Size, Share, Opportunity Analysis, and IndustrPosted by Apeksha on July 18th, 2018 The global forklift truck market is projected to reach US$ 23.81 billion by 2025, exhibiting a CAGR of 3.74% over the forecast period. Forklift trucks are used as industrial lifting trucks. These trucks are utilized to relocate goods from one place to another. Forklift trucks are mostly used in manufacturing and warehouse industries, as these industries involve relocation of heavy products in a short period of time, to accelerate the production process. Request For Sample Copy of this Research Report : Counterbalance segment holds the highest market share Electrically powered segment holds a dominant position Retail and wholesale segment is expected to be the fastest growing segment Among end-use industry, the retail and wholesale segment is projected to witness the highest CAGR over the forecast period. Due to improved transportation system, the trade barriers across the world have reduced, thus increasing the supply of goods in warehouses. Europe holds the largest market share for the retail and wholesale segment. Under 5 ton segment holds the highest market share in the global forklift market Among lifting capacity, the under 5 ton capacity segment is expected to hold the major market share and is projected to exhibit a higher CAGR over the forecast period. The < 5 ton capacity forklift trucks are usually involve battery-electric forklifts. Demand for electrically powered forklift trucks are rapidly increasing due to their environment friendly nature. They are also relatively more silent while processing, easier to operate, and incur lesser operational & maintenance costs as compared to IC engine powered forklift trucks. The class III segment is expected to witness fastest Asia-Pacific accounted for the largest market share European holds the second largest market share in the global forklift truck market, followed by North America. Growth in these regions are associated with high demand for electric powered vehicles and the growing warehouse segment. Germany accounts for the major market for forklift trucks in Europe. Major players operating in the global forklift truck market include Toyota Industries Corporation, Kion Group AG, Jungheinrich AG, and Hyster-Yale Materials Handling, Inc. For More Information: https://www.coherentmarketinsights.com/market-insight/forklift-truck-market-928 About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Like it? Share it!More by this author |