- The surge in demand for connected forklift trucks is driven by the integration of AI robotics and IoT technology, revolutionizing material handling operations. Enhanced communication enables real-time responsiveness and end-to-end efficiency
- For instance, sensors and telematics allow for predictive maintenance, optimizing fleet management, and reducing downtime. This fosters a symbiotic relationship between forklift operators and management, propelling the industry towards increased automation and productivity
- U.S. dominated the North America forklift truck market in 2024, accounting for the largest revenue share of 38.6%, supported by the presence of a robust industrial base, expanding e-commerce logistics, and high automation adoption in warehousing
- Canada is projected to grow at the fastest CAGR in the North America region through 2032, led 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
- 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
