Global Forklift Truck Market is Expected to Grow at 6.0% in the Forecast Period of 2020 to 2027

Global Forklift Truck Market is growing with factors such increasing investments in the infrastructure industry. Development of autonomous forklift trucks are creating huge opportunities for the growth of the market and increasing safety issues related to forklift trucks is hampering the growth of the global forklift truck market.

Forklift truck market has shown an exceptional penetration in countries such as Germany, U.S, and China due to technological advancements in forklift trucks. In developing countries, rising buying capacity is creating opportunity for the global forklift truck market.

Forklift truck Market Scenario

According to Data Bridge Market Research the market for forklift truck in Europe region has the highest market share followed Asia-Pacific and North America. Market leader is Toyota Industries Corporation which accounts an estimated market share of approximately 24.2% in the global market. The company has gained outstanding sale through their forklift truck products.

  • In April 2020, Toyota Material Handling (TMH), the subsidiary of TOYOTA INDUSTRIES CORPORATION which is engaged in manufacturing and sales of automobiles, materials handling equipment and textile machinery launched two models of electric lift trucks. The new trucks have the capacity of 3,000- and 3,500-pound which will increase the uptime and productivity. This product launch has helped the company to increase their product offering in material handling equipment.

Forklift Truck Market Trends Impacting the Market

Now the question is which other regions Toyota Industries Corporation, KION Group AG, and Jungheinrich AG are targeting? Data Bridge Market Research has forecasted a large growth in Asia-Pacific forklift truck market and the market leaders are targeting China, Japan to be their next revenue pockets for 2020.

The forklift truck market is becoming more competitive every year with companies such as Toyota Industries Corporation. KION Group AG, Jungheinrich AG, Mitsubishi Logisnext Co, Ltd. and Crown Equipment Corporation as they are the market leaders for forklift truck. The data bridge market research new reports highlight the major growth factors and opportunities in the forklift truck market.

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Forklift truck Market Development

  • In November 2019, KION GROUP AG engaged in providing industrial trucks, supply chain solutions, services and ware house technology opened material handling equipment facility in India. The demand for the forklift trucks is gradually increasing in Indian market which has helped the company to generate huge revenue globally.

 Scope of the Forklift truck Market

Global forklift truck market is segmented on the basis of countries into the U.S., Canada and Mexico, Germany, U.K., France, Switzerland, Italy, Spain, Netherlands, Russia, Belgium, Turkey, Rest of Europe, Japan, China, India, Taiwan, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, UAE, Saudi Arabia, Israel, Egypt and Rest of Middle East & Africa.

  • All country based analysis of forklift truck market is further analyzed based on further segmentation. On the basis of product type, the market is segmented into counterbalance and warehouse. On the basis of power source, the market is segmented into internal combustion forklift truck and electric forklift truck. On the basis of class, the market is segmented into class V (IC engine forklift trucks, pneumatic tire), class IV (IC engine forklift trucks, solid/cushion tires), class I (electric motor rider forklift trucks), Class III (electric hand forklift trucks), class II (electric motor narrow aisle forklift truck), class VI (electric and IC engine tractors) and class VII (rough terrain forklift truck). On the basis of fuel type, the market is segmented into electric, LPG/CNG, diesel and gasoline. On the basis of tonnage, the market is segmented into below 5 ton, 5 to 10 ton, 11 to 36 ton and 36 ton and above. On the basis of industry, the market is segmented into construction, freight & logistic, food industry, retail, chemical, paper & wood and others.

To know more about the study

Key Pointers Covered in Forklift Truck Market Industry Trends and Forecast to 2027

  • Market Size
  • Market Standards and Changes
  • Market Trials in Different Regions
  • Market Requirements in Different Regions
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Recent Market Value for Different regions
  • Sales Data for Market Competitors
  • Key Vendors and Disruptors Study

Key Market Competitors Covered in the Report

  • Jungheinrich AG
  • Hyster-Yale Group, Inc
  • Lift Technologies, Inc
  • Crown Equipment Corporation
  • Manitou Group
  • Komatsu Ltd
  • Hangcha
  • Doosan Industrial Vehicle America Corp
  • Konecranes
  • Palletrans Forklifts
  • Anhui Heli Co., Ltd
  • Toyota Industries Corporation
  • Mitsubishi Logisnext Co., Ltd
  • Lonking Forklift Co., Ltd
  • EP Equipment, CO.,LTD
  • Combilift Material Handling Solutions
  • Godrej Material Handling

Above are the key players covered in the report, to know about more and exhaustive list of forklift truck companies, contact us:

Research Methodology: Global Forklift Truck Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Product Managers, Smartphone Manufacturers, Camera Manufacturers
  • Supply Side: Service Providers, Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.

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