Forklift Market Report: Trends, Forecast and Competitive Analysis to 2030

Forklift Trends and Forecast

The future of the global forklift market looks promising with opportunities in the food and beverage, automotive, 3PL, paper and pulp, metals and heavy machinery, e-commerce, semiconductors and electronics, healthcare, and chemical markets. The global forklift market is expected to reach an estimated $83.6 billion by 2030 with a CAGR of 7.3% from 2024 to 2030. The major drivers for this market are expansion of the e-commerce market and the increased attention being paid to improving worker security and safety in the logistics sector, technological awareness among customers, as well as, expansion of the global manufacturing and construction sectors.

A more than 150-page report is developed to help in your business decisions.

Forklift by Segment

The study includes a forecast for the global forklift by propulsion, class, tire type, end use, and region.

Forklift Market by Propulsion [Shipment Analysis by Value from 2018 to 2030]:

• Internal Combustion Engine
• Electric

Forklift Market by Class [Shipment Analysis by Value from 2018 to 2030]:

• Class 1
• Class 2
• Class 3
• Class 4/5

Forklift Market by Tire Type [Shipment Analysis by Value from 2018 to 2030]:

• Pneumatic
• Cushion

Forklift Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Food And Beverage
• Automotive
• 3PL
• Paper And Pulp
• Metals And Heavy Machinery
• E-Commerce
• Semiconductors And Electronics
• Healthcare
• Chemical

Forklift Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Forklift Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies forklift companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the forklift companies profiled in this report include-

• Anhui Heli
• Doosan
• Crown Equipment
• Hyster-Yale Materials Handling
• KION Group
• Hangcha
• Komatsu
• Toyota Material Handling
• Mitsubishi Logisnext
• Jungheinrich

Forklift Market Insights

Lucintel forecasts that electric will remain the larger segment over the forecast period due to the increased need for operational efficiency and stringent carbon-reduction regulations.

APAC will remain the largest region over the forecast period due to manufacturers' growing preference for factory automation.

Features of the Global Forklift Market

Market Size Estimates: Forklift market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Forklift market size by various segments, such as by propulsion, class, tire type, end use, and region in terms of value ($B).

Regional Analysis: Forklift market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different propulsion, class, tire type, end use, and regions for the forklift market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the forklift market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the forklift market size?

Answer: The global forklift market is expected to reach an estimated $83.6 billion by 2030.

Q2. What is the growth forecast for forklift market?

Answer: The global forklift market is expected to grow with a CAGR of 7.3% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the forklift market?

Answer: The major drivers for this market are expansion of the e-commerce market and the increased attention being paid to improving worker security and safety in the logistics sector, technological awareness among customers, as well as, expansion of the global manufacturing and construction sectors.

Q4. What are the major segments for forklift market?

Answer: The future of the global forklift market looks promising with opportunities in the food and beverage, automotive, 3PL, paper and pulp, metals and heavy machinery, e-commerce, semiconductors and electronics, healthcare, and chemical markets.

Q5. Who are the key forklift market companies?

Answer: Some of the key forklift companies are as follows.

• Anhui Heli
• Doosan
• Crown Equipment
• Hyster-Yale Materials Handling
• KION Group
• Hangcha
• Komatsu
• Toyota Material Handling
• Mitsubishi Logisnext
• Jungheinrich

Q6. Which forklift market segment will be the largest in future?

Answer: Lucintel forecasts that electric will remain the larger segment over the forecast period due to the increased need for operational efficiency and stringent carbon-reduction regulations.

Q7. In forklift market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to manufacturers' growing preference for factory automation.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the forklift market by propulsion (internal combustion engine and electric), class (class 1, class 2, class 3, and class 4/5), tire type (pneumatic and cushion), end use (food and beverage, automotive, 3PL, paper and pulp, metals and heavy machinery, e-commerce, semiconductors and electronics, healthcare, and chemical), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?