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PUBLISHER: IMARC Services Private Limited | PRODUCT CODE: 1225194
PUBLISHER: IMARC Services Private Limited | PRODUCT CODE: 1225194
Forklift Trucks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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The global forklift trucks market size reached US$ 62.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 83.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
A forklift truck is an industrial machine that consists of two horizontal prongs for loading, unloading and transporting goods and materials over short distances. It is usually operated by a trained machinist and is either powered by electric batteries or combustion engines. Forklift trucks consist of various components, such as truck frame, counterweight, forklift, carriage and hydraulic cylinders that aid in performing multiple industrial tasks efficiently. Owing to these benefits, they find extensive applications in warehouses, factories and dockyards across various industries, including automotive, aerospace, transportation, retail, manufacturing and construction.
Forklift Trucks Market Trends:
- The growing construction industry, along with rapid industrialization, is one of the key factors driving the growth of the market. Forklift trucks are highly economical, user-friendly, powerful and easy to maintain. As a result, they are widely used for performing various industrial tasks and handling heavy construction materials, such as wood, steel and mortar. Furthermore, an increasing number of warehouse establishments across the emerging economies is also providing a boost to the forklift trucks market growth. These trucks are utilized in the distribution centers and warehouses for laying and retrieving loads from storage racks, delivering components to assembly lines and positioning materials for further effective handling. Various product innovations, including the development of fuel cell-powered forklift trucks that can operate on hydrogen, are also creating a positive outlook for the market growth. These variants aid in reducing the carbon footprint significantly and enhancing the overall operational efficiency. Other factors, including technological advancements aimed at improving productivity and extensive research and development (R&D) activities, are projected to drive the market further.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global forklift trucks market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, technology, class and application.
Breakup by Product Type:
- Counterbalanced Forklift Trucks
- Warehouse Forklift Trucks
Breakup by Technology:
- Electricity Powered
- Internal Combustion Engine Powered
Breakup by Class:
- Class I
- Class II
- Class III
- Class IV
- Class V
Breakup by Application:
- Non-Industrial
- Warehouses and Distribution Centers
- Construction Sites
- Dockyards
- Snow Plows
- Industrial
- Manufacturing
- Recycling Operations
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
- The competitive landscape of the industry has also been examined with some of the key players being Clark Material Handling Company, Crown Equipment Corporation, Godrej & Boyce, Hyster-Yale Materials Handling Inc., Hyundai Heavy Industries Co. Ltd, Jungheinrich, KION Group, Mitsubishi Forklift Trucks, Toyota Industries Corporation, etc.
- Key Questions Answered in This Report
- 1. What is the market size for the global forklift trucks market?
- 2. What is the global forklift trucks market growth?
- 3. What are the global forklift trucks market drivers?
- 4. What are the key industry trends in the global forklift trucks market?
- 5. What is the impact of COVID-19 on the global forklift trucks market?
- 6. What is the global forklift trucks market breakup by product type?
- 7. What is the global forklift trucks market breakup by technology?
- 8. What is the global forklift trucks market breakup by class?
- 9. What is the global forklift trucks market breakup by application?
- 10. What are the major regions in the global forklift trucks market?
- 11. Who are the key companies/players in the global forklift trucks market?
Product Code: SR1423A35_Report
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Forklift Trucks Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product Type
- 6.1 Counterbalanced Forklift Trucks
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Warehouse Forklift Trucks
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Technology
- 7.1 Electricity Powered
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Internal Combustion Engine Powered
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Class
- 8.1 Class I
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Class II
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Class III
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Class IV
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Class V
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Market Breakup by Application
- 9.1 Non-Industrial
- 9.1.1 Market Trends
- 9.1.2 Major Types
- 9.1.2.1 Warehouses and Distribution Centers
- 9.1.2.2 Construction Sites
- 9.1.2.3 Dockyards
- 9.1.2.4 Snow Plows
- 9.1.3 Market Forecast
- 9.2 Industrial
- 9.2.1 Market Trends
- 9.2.2 Major Types
- 9.2.2.1 Manufacturing
- 9.2.2.2 Recycling Operations
- 9.2.3 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Clark Material Handling Company
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 Crown Equipment Corporation
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Godrej & Boyce
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Hyster-Yale Materials Handling Inc.
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.5 Hyundai Heavy Industries Co. Ltd.
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Jungheinrich
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 KION Group
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.8 Mitsubishi Forklift Trucks
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.9 Toyota Industries Corporation
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.1 Clark Material Handling Company
Product Code: SR1423A35_Report
List of Figures
- Figure 1: Global: Forklift Trucks Market: Major Drivers and Challenges
- Figure 2: Global: Forklift Trucks Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Forklift Trucks Market: Breakup by Product Type (in %), 2022
- Figure 4: Global: Forklift Trucks Market: Breakup by Technology (in %), 2022
- Figure 5: Global: Forklift Trucks Market: Breakup by Class (in %), 2022
- Figure 6: Global: Forklift Trucks Market: Breakup by Application (in %), 2022
- Figure 7: Global: Forklift Trucks Market: Breakup by Region (in %), 2022
- Figure 8: Global: Forklift Trucks Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 9: Global: Forklift Trucks (Counterbalanced) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Forklift Trucks (Counterbalanced) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Forklift Trucks (Warehouse) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Forklift Trucks (Warehouse) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Forklift Trucks (Electricity Powered) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Forklift Trucks (Electricity Powered) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Forklift Trucks (Internal Combustion Engine Powered) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Forklift Trucks (Internal Combustion Engine Powered) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Forklift Trucks (Class I) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Forklift Trucks (Class I) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Forklift Trucks (Class II) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Forklift Trucks (Class II) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Forklift Trucks (Class III) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Forklift Trucks (Class III) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Forklift Trucks (Class IV) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Forklift Trucks (Class IV) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Forklift Trucks (Class V) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Forklift Trucks (Class V) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Forklift Trucks (Non-Industrial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Forklift Trucks (Non-Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: Global: Forklift Trucks (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: Global: Forklift Trucks (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: North America: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: North America: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: United States: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: United States: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028`
- Figure 35: Canada: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: Canada: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: Asia Pacific: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: Asia Pacific: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: China: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: China: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: Japan: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: Japan: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: India: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: India: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: South Korea: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: South Korea: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: Australia: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: Australia: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: Indonesia: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: Indonesia: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Others: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Others: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Europe: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Europe: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: Germany: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: Germany: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: France: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: France: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: United Kingdom: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: United Kingdom: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: Italy: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: Italy: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Spain: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Spain: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Russia: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Russia: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Others: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Others: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Latin America: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Latin America: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Brazil: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Brazil: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Mexico: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Mexico: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Others: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Others: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 77: Middle East and Africa: Forklift Trucks Market: Sales Value (in Million US$), 2017 & 2022
- Figure 78: Middle East and Africa: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 79: Global: Forklift Trucks Industry: SWOT Analysis
- Figure 80: Global: Forklift Trucks Industry: Value Chain Analysis
- Figure 81: Global: Forklift Trucks Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Forklift Trucks Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Forklift Trucks Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
- Table 3: Global: Forklift Trucks Market Forecast: Breakup by Technology (in Million US$), 2023-2028
- Table 4: Global: Forklift Trucks Market Forecast: Breakup by Class (in Million US$), 2023-2028
- Table 5: Global: Forklift Trucks Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 6: Global: Forklift Trucks Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 7: Global: Forklift Trucks Market: Competitive Structure
- Table 8: Global: Forklift Trucks Market: Key Players
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