PUBLISHER: Azoth Analytics | PRODUCT CODE: 1400503
PUBLISHER: Azoth Analytics | PRODUCT CODE: 1400503
Azoth Analytics has released a research report titled "Global Forklift Trucks Market (2024 Edition)" which provides a complete analysis of the Global Forklift Trucks industry in terms of market segmentation By Power Source (IC Engine and Electric), By Class (Class 1, Class 2, Class 3, Class 4 and Other Class), By End User Industry (Retail, Logistics, Automotive, Food Industry and Other End User Industries) for the historical period of 2019-2022, the estimates of 2023 and the forecast period of 2024-2029.
The Global Forklift Trucks market showcased growth at a CAGR of 3.3% during 2019-2022. The market was valued at USD 50.72 Billion in 2022 which is expected to reach USD 100.04 Billion in 2029. Forklift trucks are utilized in a wide range of industries, including manufacturing, logistics, construction, retail, agriculture, and more. Forklift trucks are essential and are in high demand for efficient material handling within warehouses, manufacturing facilities, distribution centres, and other industrial settings. Their ability to lift, move, and stack loads with precision significantly enhances operational efficiency and also makes the operation organized which makes it time efficient. Furthermore, the boom in e-commerce has driven the demand for forklift trucks, especially in fulfilment centres and warehouses. Forklifts play a crucial role in the quick and accurate movement of goods.
The Global Forklift Trucks Market is expected to grow in the forecast period and is expected to cross the USD 100 Billion mark in 2029. The versatility of forklifts makes them indispensable for material handling in different operational settings. Forklifts contribute to the overall operational optimization of businesses by improving material handling efficiency, reducing downtime, and enhancing the speed of various processes.
The expansion of industrial sectors, such as manufacturing, logistics, e-commerce, and construction, has led to increased demand for forklift trucks. These industries require efficient material handling and movement of goods, driving the need for forklifts. The rapid growth of online shopping and e-commerce has significantly increased the demand for efficient warehousing and distribution centres. Forklift trucks play a vital role in managing inventory, loading/unloading trucks, and organizing storage spaces.
Additionally, due expansion of e-commerce and global supply chains has led to an increased demand for warehousing and logistics services. Forklift trucks play a pivotal role in these operations by facilitating the movement of goods, loading and unloading trucks, and optimizing warehouse space. Furthermore, Forklifts are widely used in manufacturing processes to transport raw materials, components, and finished products. Their versatility makes them valuable for various tasks, including loading and unloading production lines, moving materials between workstations, and handling heavy loads.
The automotive manufacturing industry generated approximately USD 2.52 trillion in revenue in 2022. Forklift trucks are extensively used in automotive manufacturing plants for material handling tasks. They play a crucial role in moving raw materials, components, and finished goods within the manufacturing facility, contributing to the efficiency of production processes. Forklift trucks are utilized in automotive warehouses and distribution centres for the efficient handling of spare parts, components, and finished vehicles. The high demand for automotive products necessitates robust logistics and warehouse operations, driving the need for forklifts.
The high demand for the automotive industry has had a significant impact on the forklift trucks market. This is because many automotive manufacturers require forklifts to transport and handle heavy components and materials in their production processes. As a result, there has been an increase in the demand for forklifts, which has led to an increase in prices. Additionally, the high demand has also led to a shortage of forklifts in some areas, making it difficult for manufacturers to meet customer demand. However, this shortage has also led to an increase in the development of new forklift models and technologies, such as electric and hybrid forklifts, which are more environmentally friendly and offer better performance. Overall, the high demand for the automotive industry has had a positive impact on the forklift trucks market, leading to increased innovation and investment in the industry.
List of Tables
Table A1: Global Impact of Macro Economic Factors, By Region
Table A2: United States Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A3: United States Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A4: United States Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A5: United States Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A6: United States Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million)
Table A7: United States Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A8: Canada Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A9: Canada Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A10: Canada Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A11: Canada Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A12: Canada Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million)
Table A13: Canada Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A14: Brazil Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A15: Brazil Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A16: Brazil Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A17: Brazil Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A18: Brazil Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million)
Table A19: Brazil Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A20: Rest of Americas Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A21: Rest of Americas Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A22: Rest of Americas Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A23: Rest of Americas Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A24: Rest of Americas Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million)
Table A25: Rest of Americas Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A26: Germany Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A27: Germany Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A28: Germany Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A29: Germany Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A30: Germany Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million)
Table A31: Germany Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A32: United Kingdom Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A33: United Kingdom Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A34: United Kingdom Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A35: United Kingdom Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A36: United Kingdom Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million
Table A37: United Kingdom Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A38: France Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A39: France Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A40: France Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A41: France Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A42: France Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million)
Table A43: France Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A44: Italy Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A45: Italy Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A46: Italy Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A47: Italy Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A48: Italy Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million)
Table A49: Italy Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A50: Rest of Europe Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A51: Rest of Europe Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A52: Rest of Europe Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A53: Rest of Europe Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A54: Rest of Europe Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million)
Table A55: Rest of Europe Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A56: China Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A57: China Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A58: China Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A59: China Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A60: China Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million)
Table A61: China Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A62: Japan Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A63: Japan Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A64: Japan Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A65: Japan Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A66: Japan Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million)
Table A67: Japan Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A68: India Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A69: India Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A70: India Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A71: India Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A72: India Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million)
Table A73: India Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A74: Rest of Asia Pacific Forklift Trucks Market, By Power Source, By Value, 2019-2022 (USD Million)
Table A75: Rest of Asia Pacific Forklift Trucks Market, By Power Source, By Value, 2023-2029 (USD Million)
Table A76: Rest of Asia Pacific Forklift Trucks Market, By Class, By Value, 2019-2022 (USD Million)
Table A77: Rest of Asia Pacific Forklift Trucks Market, By Class, By Value, 2023-2029 (USD Million)
Table A78: Rest of Asia Pacific Forklift Trucks Market, By End User Industry, By Value, 2019-2022 (USD Million)
Table A79: Rest of Asia Pacific Forklift Trucks Market, By End User Industry, By Value, 2023-2029 (USD Million)
Table A80: Toyota Key Company Financials, 2021-2023
Table A81: Kion Key Company Financials, 2020-2022
Table A82: Jungheinrich Key Company Financials, 2021-2023
Table A83: Mitsubishi Logisnext Key Company Financials, 2021-2023
Table A84: Hyster-Yale Key Company Financials, 2020-2022
Table A85: Manitou Group Key Company Financials, 2020-2022
Table A86: Cargotec Key Company Financials, 2020-2022
Table A87: Anhui Heli Key Company Financials, 2020-2022