Forklift Trucks Market Size, Share, Growth, 2022 Top Key Players Overview and Global Analysis Till 2027

September 23, 2022

The global forklift trucks market is projected to reach US$ 82.9 Billion by 2027, exhibiting a CAGR of 6.2% during 2022-2027.

SHERIDAN, WY, USA, September 23, 2022 / -- According to IMARC Group’s latest report, titled “Forklift Trucks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global forklift trucks market size reached US$ 58.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 82.9 Billion by 2027, exhibiting a CAGR of 6.2% during 2022-2027. A forklift truck is a gas or electrically powered industrial equipment with a metal fork platform attached to its front that is used to lift heavy loads. The fork platform is inserted under pallets, cargo, or machines for transporting, loading, and unloading goods and materials over short distances. It consists of wheels, counterweights, a mast, and a carriage. A forklift truck helps keep the workers protected and increase the productivity of a work site, due to which it is witnessing a significant demand across the automotive, retail, manufacturing, aerospace, transportation, and construction industries.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Forklift Trucks Market Trends:

The rapidly expanding e-commerce sector due to shifting consumer preferences toward online shopping represents one of the primary factors driving the market growth. In line with this, forklift trucks are user-friendly, easy to maintain, and highly economical and powerful, which, in turn, is facilitating their adoption for performing several industrial tasks. Moreover, the increasing demand for electric forklift trucks and rising investments in research and development activities (R&D) are other growth-inducing factors. Apart from this, rapid technological advancements and a surging number of warehouse establishments across the globe are creating a positive outlook for the market.

Forklift Trucks Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the forklift trucks market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Clark Material Handling Company
• Godrej & Boyce
• Hyundai Heavy Industries Co. Ltd
• Crown Equipment Corporation
• Mitsubishi Forklift Trucks
• KION Group
• Toyota Industries Corporation
• Hyster-Yale Materials Handling Inc.
• Jungheinrich

Key Market Segmentation:

The report has segmented the global forklift trucks market based on product type, technology, class, application and region.

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:
o Warehouses and Distribution Centers
o Construction Sites
o Dockyards
o Snow Plows

• Industrial:
o Manufacturing
o Recycling Operations

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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