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According to our (Global Info Research) latest study, the global Forklift Trucks market size was valued at USD 30370 million in 2023 and is forecast to a readjusted size of USD 39940 million by 2030 with a CAGR of 4.0% during review period.
Forklift truck, also known as fork truck, lift truck, or forklift, are motorized vehicles primarily used for independent lifting, movement, and placement of discrete loads throughout a facility. They form an essential part of the supply chain market. 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. The growth of customer segments and rising demand for fuel-efficient vehicles is bringing a radical change to the forklift truck market.
This report mainly focuses on the new forklift trucks equipment, instead of service, rental, etc.
The Forklift Trucks industry can be broken down into several segments, Class 1, Class 2, Class 3 and Class 4/5.
Across the world, the major players cover Toyota, Kion, Jungheinrich, Mitsubishi Logisnext, Crown Equipment, Hyster-Yale, Anhui Heli, Hangcha, Clark Material Handling, Doosan Corporation Industrial Vehicle, etc.
Global key manufacturers of forklift trucks include Toyota, Kion, Jungheinrich, Mitsubishi Logisnext, etc., which are mainly located in North America, Europe, China, Japan, Korea, India, South America, etc. The top two producers have a total market share of 29%, with the largest producer being Toyota, accounting for 17%. At the consumption level, Asia Pacific has the largest sales market with a 50% share. In terms of product categories, class 4 and 5 have the largest market share with 36%, followed by class 3. In terms of applications, warehouses is the number one application with a 38% market share.
The Global Info Research report includes an overview of the development of the Forklift Trucks industry chain, the market status of Warehouses (Class 1, Class 2), Factories (Class 1, Class 2), and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Forklift Trucks.
Regionally, the report analyzes the Forklift Trucks markets in key regions. North America and Europe are experiencing steady growth, driven by government initiatives and increasing consumer awareness. Asia-Pacific, particularly China, leads the global Forklift Trucks market, with robust domestic demand, supportive policies, and a strong manufacturing base.
Key Features:
The report presents comprehensive understanding of the Forklift Trucks market. It provides a holistic view of the industry, as well as detailed insights into individual components and stakeholders. The report analysis market dynamics, trends, challenges, and opportunities within the Forklift Trucks industry.
The report involves analyzing the market at a macro level:
Market Sizing and Segmentation: Report collect data on the overall market size, including the sales quantity (Units), revenue generated, and market share of different by Type (e.g., Class 1, Class 2).
Industry Analysis: Report analyse the broader industry trends, such as government policies and regulations, technological advancements, consumer preferences, and market dynamics. This analysis helps in understanding the key drivers and challenges influencing the Forklift Trucks market.
Regional Analysis: The report involves examining the Forklift Trucks market at a regional or national level. Report analyses regional factors such as government incentives, infrastructure development, economic conditions, and consumer behaviour to identify variations and opportunities within different markets.
Market Projections: Report covers the gathered data and analysis to make future projections and forecasts for the Forklift Trucks market. This may include estimating market growth rates, predicting market demand, and identifying emerging trends.
The report also involves a more granular approach to Forklift Trucks:
Company Analysis: Report covers individual Forklift Trucks manufacturers, suppliers, and other relevant industry players. This analysis includes studying their financial performance, market positioning, product portfolios, partnerships, and strategies.
Consumer Analysis: Report covers data on consumer behaviour, preferences, and attitudes towards Forklift Trucks This may involve surveys, interviews, and analysis of consumer reviews and feedback from different by Application (Warehouses, Factories).
Technology Analysis: Report covers specific technologies relevant to Forklift Trucks. It assesses the current state, advancements, and potential future developments in Forklift Trucks areas.
Competitive Landscape: By analyzing individual companies, suppliers, and consumers, the report present insights into the competitive landscape of the Forklift Trucks market. This analysis helps understand market share, competitive advantages, and potential areas for differentiation among industry players.
Market Validation: The report involves validating findings and projections through primary research, such as surveys, interviews, and focus groups.
Market Segmentation
Forklift Trucks market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Market segment by Type
- Class 1
- Class 2
- Class 3
- Class 4 and 5
Market segment by Application
- Warehouses
- Factories
- Distribution Centers
- Others
Major players covered
- Toyota
- Kion
- Jungheinrich
- Mitsubishi Logisnext
- Crown Equipment
- Hyster-Yale
- Anhui Heli
- Hangcha
- Clark Material Handling
- Doosan Corporation Industrial Vehicle
- Komatsu
- Lonking
- Hyundai Heavy Industries
- EP Equipment
- Manitou
- Paletrans Equipment
- Combilift
- Hubtex Maschinenbau
- Godrej & Boyce
Market segment by region, regional analysis covers
- North America (United States, Canada and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Forklift Trucks product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Forklift Trucks, with price, sales, revenue and global market share of Forklift Trucks from 2019 to 2024.
Chapter 3, the Forklift Trucks competitive situation, sales quantity, revenue and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Forklift Trucks breakdown data are shown at the regional level, to show the sales quantity, consumption value and growth by regions, from 2019 to 2030.
Chapter 5 and 6, to segment the sales by Type and application, with sales market share and growth rate by type, application, from 2019 to 2030.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value and market share for key countries in the world, from 2017 to 2023.and Forklift Trucks market forecast, by regions, type and application, with sales and revenue, from 2025 to 2030.
Chapter 12, market dynamics, drivers, restraints, trends and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Forklift Trucks.
Chapter 14 and 15, to describe Forklift Trucks sales channel, distributors, customers, research findings and conclusion.