Global Forklift Truck Market is Rising Exponentially at a CAGR of 6.0% During the Anticipated Period of 2020 to 2027

Forklift Truck Market size is valued at USD 74,274.69 million by 2027 and is expected grow at a compound annual growth rate of 6.0% in the forecast period of 2020 to 2027 due to the increasing demand from manufacturing industry is primarily driving the market growth rate.  Beside this, the rising application scope and growing demand for forklift trucks from end-use industries will produce lucrative opportunities for the growth of the forklift truck market.

Forklift Truck Market Scenario

According to Data Bridge Market Research the market for forklift truck is accelerating because of the increasing demand for forklift trucks. Also the, rapid increase in productivity, reduced injuries and accidents along with operator calm are also expected to fuel the demand of the forklift truck market over the forecast period of 2020 to 2027. Whereas, the high cost of electric powered forklift trucks will obstruct the growth of the forklift truck market in the above mentioned forecast period.

Now the question is which are the other regions that forklift truck market is targeting? Data Bridge Market Research has estimated large growth in Asia-Pacific due to large market share of China because of the growing use in the construction sites owing to the increasing construction of shelter and commercial buildings within the region.

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Forklift Truck Market Development

  • In April 2020, Godrej Material Handling had launched its new latest three-wheel electric variant of its bravo forklift truck for at least 1.6 to 2-ton category. This launch will help the company to expand its product portfolio.

Forklift Truck Market Scope              

Forklift truck market is segmented on the basis of countries into the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).

  • All country based analysis of forklift truck market is further analyzed based on maximum granularity into 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 forklift truck 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 forklift truck 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 forklift truck market is segmented into construction, freight & logistic, food industry, retail, chemical, paper & wood and others.
  • Forklift trucks are used as industrial lifting trucks and are used for replacement of goods from one place to another. Forklift trucks are generally used in manufacturing and warehouse industries, because of the need to move heavy products in easier way to numerous locations in a very short time, so as to enhance the production process.

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

  • Market Size
  • Market New Sales Volumes
  • Market Replacement Sales Volumes
  • Market Installed Base
  • Market By Brands
  • Market Procedure Volumes
  • Market Product Price Analysis
  • Market Cost of Care Analysis
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Market Upcoming Applications
  • Market Innovators Study

Key Market Competitors Covered in the Report

  • Jungheinrich AG
  • Hyster-Yale Group, Inc. (a subsidiary of Hyster-Yale Materials Handling, Inc.)
  • Lift Technologies, Inc.
  • Crown Equipment Corporation
  • Manitou Group
  • Komatsu Ltd
  • Hangcha
  • Konecranes
  • Palletrans Forklifts
  • HUBTEX Maschinenbau GmbH & Co. KG
  • Anhui Heli Co., Ltd.
  • Lonking Machinery Co., Ltd.
  • EP Equipment, CO.,LTD
  • Combilift Material Handling Solutions
  • Godrej Material Handling 

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

Research Methodology of Global Forklift Truck Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed 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.

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