Supply Chain Ecosystem Analysis now part of DBMR Reports
Market Size in USD Billion
| 2025 –2032 | |
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USD 14.06 Million |
| USD 22.59 Million | |
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North America Forklift Truck Market Segmentation, By Product Type (Counterbalance and Warehouse), Power Source (Internal Combustion Forklift Truck and Electric Forklift), Class (Class V, Class IV, Class I, Class III, Class II, Class VI, and Class VII), Fuel Type (Electric, LPG/CNG, Diesel, and Gasoline), Tonnage (Below 5 Ton, 5 To 10 Ton, 11 To 36 Ton and 36 Ton and Above), Industry (Construction, Freight and Logistic, Food Industry, Retail, Chemical and Paper and Wood, and Other) - Industry Trends and Forecast to 2032
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Attributes
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Forklift Truck Key Market Insights
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Segments Covered
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Countries Covered
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North America
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Key Market Players
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Market Opportunities
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Value Added Data Infosets
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, pricing analysis, brand share analysis, consumer survey, demography analysis, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.
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“Adoption of Electric and Autonomous Forklift Trucks”
The market is segmented on the basis of type, material, usage, style, capacity, distribution channel, application, and end-user.
• By Product Type
On the basis of product type, the forklift truck market is segmented into Counterbalance and Warehouse. The Counterbalance segment dominated the market in 2024 with a market share of 61.4%, owing to its versatility in indoor and outdoor applications and its compatibility with various lifting attachments.
The Warehouse segment is projected to register the fastest CAGR from 2025 to 2032, driven by growing automation in storage facilities and increased demand for compact and maneuverable trucks in space-constrained environments.
• By Power Source
On the basis of power source, the market is categorized into Internal Combustion Forklift Truck and Electric Forklift. The Internal Combustion Forklift Truck segment held the largest market share in 2024 at 54.7%, primarily due to its higher load-bearing capacity and extended operation time in heavy-duty applications.
The Electric Forklift segment is expected to grow at the fastest rate during the forecast period, supported by rising environmental regulations and increasing investments in clean, emission-free logistics.
• By Class
On the basis of class, the forklift truck market is segmented into Class I, Class II, Class III, Class IV, Class V, Class VI, and Class VII. The Class V segment dominated in 2024 with a market share of 29.3%, due to its widespread use in outdoor material handling and versatility across various terrains.
The Class I segment is anticipated to register the highest growth rate, driven by the transition toward electric-powered trucks in indoor warehousing and e-commerce operations.
• By Fuel Type
On the basis of fuel type, the market is segmented into Electric, LPG/CNG, Diesel, and Gasoline. The Electric segment accounted for the largest share in 2024 at 37.9%, attributed to its cost efficiency, low maintenance, and alignment with zero-emission policies.
The LPG/CNG segment is projected to grow significantly due to its balance between power output and lower emissions compared to diesel.
• By Tonnage
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. The Below 5 Ton segment led the market in 2024 with a share of 42.5%, as these forklifts are widely used in warehouses, distribution centers, and light industrial operations.
The 11 to 36 Ton segment is forecasted to grow rapidly, supported by increased demand in heavy industries and construction projects.
• By Industry
On the basis of industry, the forklift truck market is segmented into Construction, Freight and Logistics, Food Industry, Retail, Chemical, Paper and Wood, and Others. The Freight and Logistics segment dominated the market in 2024 with a market share of 31.6%, driven by the rising need for fast and efficient material handling in global supply chains.
The Food Industry segment is expected to exhibit the highest CAGR, owing to increasing demand for hygienic and temperature-sensitive product handling in food-grade storage and distribution centers.
Canada Forklift Truck Market Insight
Canada is projected to grow at the fastest CAGR in the North America forklift truck market through 2032, fueled by rapid warehouse expansion and automation in retail supply chains. Major cities such as Toronto, Montreal, and Vancouver are witnessing heightened demand for electric and narrow-aisle forklifts to support high-density storage and fulfillment operations. In addition, government programs promoting green energy use in industrial vehicles are accelerating the shift toward electric-powered forklift fleets.
Mexico Forklift Truck Market Insight
The Mexico forklift truck market is growing steadily, supported by industrial development zones, cross-border trade expansion, and rising infrastructure investments. Logistics hubs such as Monterrey, Guadalajara, and Mexico City are seeing increased adoption of forklift trucks in food, automotive, and electronics manufacturing. Government incentives for industrial modernization and training programs for forklift operators are also contributing to market penetration across SMEs and export-driven facilities.
The forklift truck industry is primarily led by well-established companies, including:
SKU-
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