PUBLISHER: Inkwood Research | PRODUCT CODE: 1314363
PUBLISHER: Inkwood Research | PRODUCT CODE: 1314363
The North America forklift truck market is projected to grow with a CAGR of 6.52% over the forecasting period of 2023 to 2032. The market growth of the region is credited to the heavy investments by leading players toward the adoption of advanced and modern forklift trucks, coupled with the rising demand across warehousing as well as other industries such as automotive and retail.
Canada and the United States are assessed for the North America forklift truck market growth evaluation. The region's market holds significant promise due to its regional standards as well as associated benefits. Canada, in particular, has witnessed substantial government investments aimed at enhancing airport infrastructure, leading to a rise in demand for forklift trucks in the country. Moreover, these trucks play a crucial role in airport operations, facilitating the undocking and stacking of cargo shipments.
On the other hand, the thriving e-commerce industry in Canada presents vast growth opportunities for the forklift truck market. As logistics form the backbone of industries and commerce in the country, the demand for forklift trucks is expected to maintain a steady growth trajectory. This is primarily accredited to their effective support in terms of streamlining efficient logistics operations throughout the region. Hence, the aforementioned factors are anticipated to propel the North America forklift truck market growth during the forecast period.
Key players operating in the market are: Hyster-Yale Materials Handling Inc, Toyota Industries Corporation, etc.