Global Forklift Truck Market is expected to grow with the CAGR of 6.0% in the forecast period of 2020 to 2027. The years considered for study are as mentioned below.

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Global forklift truck market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to the favourable market scenario.

The major players dealing in global forklift truck market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio. For instance, 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.

Toyota Industries Corporation is the dominating player in global forklift truck market. The other key players existing in the market includes CLARK, Manitou Group, Komatsu Ltd,Hangcha, Doosan Industrial Vehicle America Corp, Konecranes, Palletrans Forklifts, HUBTEX MASCHINENBAU GMBH & CO. KG, Anhui Heli Co., Ltd, Lonking Forklift Co., Ltd., EP Equipment, CO.,LTD, Combilift Material Handling Solutions, Godrej Material Handling, Hyster-Yale Group, Inc, Lift Technologies, Inc.

Toyota Industries Corporation

Toyota Industries Corporation, headquartered in Aichi, JAPAN which was founded in 1926. The company is engaged in the manufacturing and sales of automobiles, materials handling equipment, textile machinery. The company engaged in providing products automobiles, materials handling equipment and textile machinery out of which materials handling equipment is market focused product categories.

• In November 2019, TOYOTA INDUSTRIES CORPORATION which is engaged in the manufacturing and sales of automobiles, materials handling equipment and textile machinery launched first FC forklift. The FC forklifts have high power generation efficiency and this was the first forklift equipped with Toyota Industries FC system. This product launch has helped the company to strengthen its product portfolio.

The company has wide global presence across the globe such as North America, Latin America, Asia-Pacific, Europe, Middle East and Africa. In addition to it, the company also generates its revenue from the various subsidiary companies such Toyota (Japan), Toyota Material Handling Europe (Sweden), Toyota Material Handling, U.S.A., Inc. (U.S), Vanderlande (Netherlands) and AICHI CORPORATION (Japan) among others

KION Group AG

KION Group AG headquartered in Frankfurt, Germany, was founded in year 2006. The company engaged in providing industrial trucks, supply chain solutions, services and ware house technology. The company offers wide range of brand categories such as Linde, Still, Dematic, Baoli, Om voltas and Fenwick.

• In August 2019, KION GROUP AG engaged in providing industrial trucks, supply chain solutions, services and ware house technology established industrial truck factory in Poland. Through this plant KION Group's supplies its products to Europe and cater to customers in the EMEA region. This business expansion helped the company to generate more revenue.

The company has presence Asia-Pacific, Americas, EMEA, Europe generates revenue from subsidiaries such as Kion Rental Services SpA (Italy), Dematic Group(Georgia), Kion Material Handling Gmbh(Germany), JULI Motorenwerk, Ltd.(Czechia), STILL SAS (U.S) among others.

Jungheinrich AG

Jungheinrich AG is headquartered in Hamburg, Germany, Which was founded in 1953. The company engaged in providing intralogistics products, systems and services for retail, food industry, construction, freight & logistics, chemical industry among others. the company has product categories which are new trucks, forklift rental, used forklifts, automated components, batteries/charging technology, racking and warehouse storage, digital products, special builds, radio data transmission and new trucks is market focused category.

• In January 2020, Jungheinrich AG which is providing intralogistics products, systems and services for retail, food industry, construction, freight & logistics, chemical industry and others launched electric counter balance truck. The new electric counterbalance truck named as P30i which is for outdoor use and its lifting speed is 25% higher than classic electric counterbalance trucks. The new product launch will help the company to strengthen its product portfolio globally.

The company has wide global presence in North America, South America, Asia-Pacific, Europe, Middle East & Africa generates revenue from subsidiaries such as Jungheinrich Uk Ltd (U.K.), Jungheinrich Lift Truck India Private Limited (India), MIAS Maschinenbau, Industrieanlagen and Service GmbH (Germany), ISI Automation GmbH and Co. KG (Germany), NTP Pty Ltd (Australia) among others.