Global High Capacity Forklift Truck Market - 2023-2030

Market Overview

The global high capacity forklift truck market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 13.2% during the forecast period (2023-2030).

The high capacity forklift truck market is growing rapidly, driven by increasing demand for automation, safety and efficiency in material handling. These machines are designed to improve the speed and accuracy of material handling operations, reducing the risk of injury and damage to products and equipment. One of the main advantages of high capacity forklift trucks is their ability to lift heavy loads to significant heights. It makes them ideal for use in warehouses and distribution centers, where goods must be stacked on high shelves. They are also used in manufacturing plants to move heavy raw materials and finished products between production lines.

Market Dynamics

Expansion of e-commerce and logistics industries

E-commerce has been a major factor in the growth of the logistics industry, as online retailers require efficient and reliable distribution channels to deliver products to customers quickly and cost-effectively. It has led to increased demand for high capacity forklift trucks that can handle heavy loads and operate efficiently in high-volume, fast-paced warehouse environments. Logistics companies also invest in automation and other advanced technologies to improve operations and reduce costs. High capacity forklift trucks with advanced automation capabilities, such as autonomous navigation and inventory management systems, can help companies achieve these efficiencies.

In addition, the trend toward globalization has led to an increase in cross-border trade, further fueling the growth of the logistics industry. High capacity forklift trucks with advanced safety and automation features are well-suited to handle the demands of global logistics operations, as they can operate efficiently in various environments and handle various loads.

Competition from alternative material handling equipment

Competition from alternative material handling equipment can be a major challenge for the global high capacity forklift truck market. One alternative to high capacity forklift trucks is automated guided vehicles (AGVs). AGVs are self-driving vehicles that use sensors and navigation systems to move materials around a warehouse or factory. They do not require a human operator, which can make them more efficient and cost-effective in some applications.

AGVs are particularly well-suited for repetitive material handling tasks, such as moving products from a production line to a storage area. They can also operate 24/7, improving efficiency and reducing labor costs. Additionally, they can be integrated with warehouse management systems (WMS) and enterprise resource planning (ERP) software, allowing companies to monitor and control their logistics operations from a single platform.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global high capacity forklift truck market is segmented based on load capacity, fuel type, application and region.

The growing popularity of high capacity forklift trucks contributes to the growth of the global market

The growing popularity of high capacity forklift trucks is one of the key factors driving the growth of the global high capacity forklift truck market. These machines are becoming increasingly popular due to their ability to lift heavy loads to significant heights, making them essential equipment for many industries. High capacity forklift trucks offer a range of benefits over other types of material handling equipment. They are more versatile than traditional cranes, as they can move loads horizontally and vertically. They are also more flexible than conveyor systems, as they can move loads around a facility, allowing for greater flexibility in material handling operations.

Geographical Analysis

Owing to its diverse consumer base, North America has become a key revenue generator for the high capacity forklift truck market

North America is one of the key revenue generators for the global high capacity forklift truck market, owing to its strong manufacturing and technology base. It has several major manufacturers of high capacity forklift trucks and suppliers of related components and technologies, such as engines, transmissions and hydraulic systems. In addition, North America has a large and diverse industrial base, with a wide range of industries that rely on material handling equipment. These industries include manufacturing, construction, warehousing, logistics, and mining. It has created a strong demand for high capacity forklift trucks in the region, as these machines are essential for moving heavy loads in these industries.

Competitive Landscape

The major global players include Toyota Material Handling, Hyster-Yale Materials Handling, Inc., Mitsubishi Logisnext Co., Ltd., Crown Equipment Corporation, Komatsu Ltd., Anhui Heli Co., Ltd., Hangcha Group Co., Ltd., Lonking Holdings Limited and Hyundai Heavy Industries Co., Ltd.

Why Purchase the Report?

• To visualize the global high capacity forklift truck market segmentation based on load capacity, fuel type, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of high capacity forklift truck market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global high capacity forklift truck market report would provide approximately 61 tables, 59 figures and 180 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies