Forklift Trucks Market: Global Industry Size, Share, Growth, Trends, Analysis and Forecast 2019 To 2027

The latest market report published by Acute Market Reports, Inc. “Forklift Trucks Market – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the forklift truck market was valued at US$ 33.81 billion in 2018 and is expected to grow at CAGR by 4.7% over the forecast period from 2019 to 2027.

Market Insights 

Increased e-commerce industry worldwide will boost revenue growth during the forecast period 

The global market for forklift trucks is rising efficiently from 2019 to 2027 due to the growth of the e-commerce industry and the growth of the construction and mining industry worldwide. In 2018, Europe contributed to the largest share of the revenue. On the contrary, Asia Pacific was the market leader in terms of volume in 2018.

Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/forklift-trucks-market

The growing need for forklift trucks in warehouses and the increasing adoption of forklift trucks in emerging markets such as India, China, Indonesia, and others will boost market demand. Approximately 1.4 Mn of forklift units were sold worldwide in 2018. Growing demand for electric forklifts will also boost the growth of the market. Growing infrastructural development worldwide and rising manufacturing sectors will increase market growth in the coming years.

Top manufacturers focus mainly on new product launches and mergers and acquisitions. New technological innovations in forklifts, such as multi-function touch and others, will be a major trend in the industry.

Industrial Developments 

• In April 2018, Toyota Industries Corporation introduced new heavy-duty forklift trucks. The new heavy-duty trucks can lift weight up to 80000 pounds and have features like adjustable wheelbase, can navigate tight spaces to increase efficiency, productivity, and convenience.

• In February 2019, Toyota Industries Corporation acquired Hoist Liftruck Mfg., LLC. This acquisition will help the companies to expand their business in new areas. 

Key Market Movements: 

• Globally, the forklift trucks market is rising at a CAGR of 4.7% for the estimated period from 2019 to 2027

• Europe dominated the global market in 2018 on account of the presence of major automotive manufacturers and the growing logistics industry in the region. Adoption of forklift trucks in the manufacturing industry (such as by machine tool builders, machinery companies and others) is another factor for the dominance of the region.

• The Asia Pacific is projected to register the maximum growth rate during the forecast period due to the growing manufacturing and logistics industry in the region. The wide adoption of forklift trucks in various industries such as e-commerce, mining, construction, and others will also boost the market demand in the region.

• An increasing number of mergers & acquisitions, new product expansion, and increased investments for development in the emerging nations will drive the overall demand 

List of Companies Covered:

• Toyota Industries Corporation

• Hyundai Heavy Industries

• Mitsubishi Nichiyu Forklift Co., Ltd

• Crown Equipment Corporation

• Hyster-Yale Materials Handling Inc.

• Hangcha Group Co., Ltd.

• Clark Material Handling International, Inc.

• Kion Group AG

• Jungheinrich AG

• Hyster-Yale Materials Handling

• Anhui Forklift Truck

• Doosan Industrial Vehicle

• Komatsu Ltd.

• Godrej & Boyce Manufacturing

List of Companies Covered:

Market Segmentation

By Product Type

 • Reach Forklift Truck

 • Counterbalance Forklift Truck

 • Others (Rough Terrain, Side Loader, Telescopic Handler, etc.)

 By Engine Type

 • Electric

 • Diesel

 • Gasoline & LPG/CNG

 By End-user Type

 • Manufacturing

 • Logistics

 • Food Industry

 • Wholesale & Retail

 • Mining & Construction

 • Others (Agriculture, Natural Resources, etc.)

By Vehicle Class Type

 • Class I

 • Class II

 • Class III

 • Class IV

 • Class V

By Geography Segment Type

• North America (the U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, Latin America)