"Global Forklift Truck Market – Industry Trends and Forecast to 2030
Global Forklift Truck Market, By Product Type (Warehouse and Counterbalance), Class (Class I: Electric Motor Rider Trucks, Class II: Electric Motor Narrow Aisle Trucks, Class III: Electric Motor Pedestrian Trucks, Class IV: Internal Combustion Engine Trucks; Class V: Internal Combustion Engine Trucks, Class VI: Electric And Internal Combustion Engine Tractors, and Class VII: Rough Terrain Forklift Trucks), Fuel Type (Diesel, Gasoline and LPG/CNG, and Electric/Hybrid), Engine Type (Internal Combustion (IC) Engine Power and Electric Power), Lifting Capacity (< 5 ton, 5 ton - 10 ton, 11 ton - 36 ton, and > 36 ton), End-Use Industry (Retail and Wholesale, Transportation and Logistics, Automotive and Electrical Engineering, Food Industry, and Other Industries) – Industry Trends and Forecast to 2030.
Data Bridge Market Research analyses that the global forklift truck market which was USD 67.75 million in 2022, would rocket up to USD 172.62 million by 2030, and is expected to undergo a CAGR of 12.35% during the forecast period. This indicates that the market value. “Class III” Electric Motor Pedestrian Trucks account for the largest application segment in the respective market owing to the high demand in warehouses and distribution centers. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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A forklift truck refers to an industrial machine that incorporates two horizontal prongs for loading and transporting goods and materials. The machine is usually operated by a trained machinist. This truck is powered by electric batteries or combustion engines.
**Segments**
- **Fuel Type**
- Electric
- Diesel
- LPG/CNG
- **Class**
- Class 1 (Electric Motor Rider Trucks)
- Class 2 (Electric Motor Narrow Aisle Trucks)
- Class 3 (Electric Motor Hand Trucks)
- Class 4 (Internal Combustion Engine Trucks)
- Class 5 (Internal Combustion Engine Trucks)
- **End-Use**
- Retail & Wholesale
- Logistics & Warehousing
- Automotive
- Food Industry
- Others
The forklift truck market can be segmented based on fuel type, class, and end-use. In terms of fuel type, forklift trucks are categorized into electric, diesel, and LPG/CNG. Electric forklift trucks are gaining popularity due to their eco-friendly nature and low maintenance costs. Diesel forklifts are known for their high power and efficiency, making them suitable for heavy-duty applications. LPG/CNG forklifts provide a balance between power and sustainability, appealing to businesses looking for cleaner fuel options. Class segmentation includes various types of forklift trucks based on their design and application, ranging from electric motor rider trucks to internal combustion engine trucks. End-use segmentation covers a wide range of industries that rely on forklift trucks for material handling and warehouse operations.
**Market Players**
- Toyota Industries Corporation
- Kion Group AG
- Jungheinrich AG
- Mitsubishi Logisnext Co., Ltd.
- Hyster-Yale Materials Handling, Inc.
- Anhui Heli Co., Ltd.
- Crown Equipment Corporation
- Hangcha Group Co., Ltd.
- Clark Material Handling Company
- Combilift
- Doosan Corporation Industrial Vehicle
- Lonking Holdings Limited
The forklift truck market is highly competitive, with key players such as Toyota Industries Corporation, Kion Group AG, and Jungheinrich AGThe forklift truck market is a dynamic and competitive industry with several key players vying for market share and dominance. Toyota Industries Corporation is a leading player in the market, known for its reliable and innovative forklift trucks. The company has a strong global presence and offers a wide range of products to cater to different customer needs. Kion Group AG is another major player in the forklift truck market, with a diverse portfolio of brands such as Linde and Still. The company focuses on technological advancements and sustainability, positioning itself as a leader in the industry. Jungheinrich AG is known for its innovative warehouse solutions and automation technology, making it a preferred choice for logistics and warehousing applications.
Mitsubishi Logisnext Co., Ltd. is a prominent player in the forklift truck market, offering a range of electric and internal combustion engine trucks with a focus on efficiency and productivity. Hyster-Yale Materials Handling, Inc. is known for its rugged and durable forklift trucks suitable for various end-use applications such as manufacturing and construction. Anhui Heli Co., Ltd. is a Chinese company that has a strong presence in the forklift truck market, catering to different customer segments with its diverse product lineup. Crown Equipment Corporation is a well-established player known for its innovative technology and ergonomic design in forklift trucks. Hangcha Group Co., Ltd. is another Chinese company that offers a wide range of material handling equipment, including forklift trucks, catering to both domestic and international markets.
Clark Material Handling Company has a long history in the forklift truck market, providing reliable and durable products for different industries such as retail, wholesale, and logistics. Combilift is known for its innovative multi-directional forklifts, offering efficient solutions for handling long and bulky loads in narrow aisles. Doosan Corporation Industrial Vehicle is a global player in the forklift truck market, known for its quality products and advanced technology. Lonking**Segments:**
- Global Forklift Truck Market, By Product Type (Warehouse and Counterbalance)
- Class (Class I: Electric Motor Rider Trucks, Class II: Electric Motor Narrow Aisle Trucks, Class III: Electric Motor Pedestrian Trucks, Class IV: Internal Combustion Engine Trucks; Class V: Internal Combustion Engine Trucks, Class VI: Electric And Internal Combustion Engine Tractors, and Class VII: Rough Terrain Forklift Trucks)
- Fuel Type (Diesel, Gasoline, LPG/CNG, and Electric/Hybrid)
- Engine Type (Internal Combustion (IC) Engine Power and Electric Power)
- Lifting Capacity (< 5 ton, 5 ton - 10 ton, 11 ton - 36 ton, and > 36 ton)
- End-Use Industry (Retail and Wholesale, Transportation and Logistics, Automotive and Electrical Engineering, Food Industry, and Other Industries)
The global forklift truck market is segmented based on various factors to provide a comprehensive understanding of the industry landscape. The market is categorized by product type into warehouse and counterbalance forklift trucks, catering to different material handling needs in industrial settings. Class segmentation further diversifies the market with a range of forklift truck types, from electric motor rider trucks to rough terrain forklift trucks, each designed for specific applications. Fuel type segmentation includes diesel, gasoline, LPG/CNG, and electric/hybrid options, reflecting the shifting preferences towards cleaner and
Highlights of TOC:
Chapter 1: Market overview
Chapter 2: Global Forklift Truck Market
Chapter 3: Regional analysis of the Global Forklift Truck Market industry
Chapter 4: Forklift Truck Market segmentation based on types and applications
Chapter 5: Revenue analysis based on types and applications
Chapter 6: Market share
Chapter 7: Competitive Landscape
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
Chapter 9: Gross Margin and Price Analysis
Key takeaways from the Forklift Truck Market report:
- Detailed considerate of Forklift Truck Market-particular drivers, Trends, constraints, Restraints, Opportunities and major micro markets.
- Comprehensive valuation of all prospects and threat in the
- In depth study of industry strategies for growth of the Forklift Truck Market-leading players.
- Forklift Truck Market latest innovations and major procedures.
- Favorable dip inside Vigorous high-tech and market latest trends remarkable the Market.
- Conclusive study about the growth conspiracy of Forklift Truck Market for forthcoming years.
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