Forklift Trucks Market Growth, Outlook, Demand, Keyplayer Analysis and Opportunity 2023-2028

Author: Elena Anderson Marketing Manager

Report DescriptionAbout IMARC Group

International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.

Report Description Report Description and Highlights

Global Forklift Trucks Market Research Report 2023-2028:

According to the latest report by IMARC Group, titled “ Forklift Trucks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023 -2028

,” the global forklift trucks market size reached US$ 62.2 Billion in 2022.

Forklift trucks are robust, heavy-duty industrial machines equipped with two horizontal poweroperated prongs, which help load, unload, and move crates, container goods, and other commodities on pallets within the premises. They are usually powered by electric batteries or internal combustion (IC) engines and are controlled by a skilled machinist. These trucks are lightweight, cost-effective, durable, user-friendly, and easy to maintain, and they generate minimal vibration and noise. Apart from this, forklift trucks offer maneuverability and capacity, help streamline supply chain distribution activities, and improve the operational efficiency of various manufacturing processes. On account of these properties, forklift trucks are vastly used across dockyards, warehousing, and recycling operations to manage, transport, and carry several heavy building materials, such as wood, steel, and cement.

Request for a PDF sample of this report: https://www.imarcgroup.com/forklift-trucks-market/requestsample

Global Forklift Trucks Market Trends:

The rapid expansion in the e-commerce sector, the growing establishment of automated warehouses, and the rising need for effective material handling solutions are primarily driving the market growth. In line with this, the heightened emphasis on enhancing transparency, lowering operational costs, and increasing productivity within the warehouse and distribution centers is acting as another growthinducing factor. Furthermore, the implementation of stringent automotive emission norms by governments has motivated industrial workers to employ electric forklifts due to their multiple benefits, which is propelling the market growth.

Such solutions are eco-friendly, reduce product damage, and ensure minimal noise emissions at reduced operating costs. Moreover, the recent research and development (R&D) initiatives being undertaken by manufacturers to improve load lifting capacity, acceleration, and speed control on-ramps are contributing to the market growth. Additionally, the advent of hydrogen fuel cell forklift trucks featuring minimal carbon footprint and superior overall operating effectiveness is impelling the market growth. Besides this, the extensive integration of artificial intelligence (AI), robotics, and other advanced technological solutions with forklift trucks to increase real-time responsiveness and end-to-end efficiency of the product is favoring the market growth. Apart from this, the continuous construction of airports, rail networks, and power plants on account of rapid industrialization is creating a positive outlook for the market.

Report Description Report Description and Highlights

Looking forward, the market value is projected to reach US$ 83.9 Billion by 2028, expanding at a CAGR of 4.9% during 2023-2028.

Report Description Report Description and Highlights

Key Market Segmentation

The research report includes the following segments:

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

Report Description Report Description and Highlights

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

Report Description Report Description and Highlights

Competitive Landscape with Key Players:

• Clark Material Handling Company

• Crown Equipment Corporation

• Godrej & Boyce

• Hyster-Yale Materials Handling Inc.

• Hyundai Heavy Industries Co. Ltd.

• Jungheinrich

• KION Group

• Mitsubishi Forklift Trucks

• Toyota Industries Corporation

1. What is the market size for the global forklift trucks market?

2. What is the global forklift trucks market growth?

3. What are the global forklift trucks market drivers?

4. What are the key industry trends in the global forklift trucks market?

5. What is the impact of COVID-19 on the global forklift trucks market?

6. What is the global forklift trucks market breakup by product type?

7. What is the global forklift trucks market breakup by technology?

8. What is the global forklift trucks market breakup by class?

9. What is the global forklift trucks market breakup by application?

10. What are the major regions in the global forklift trucks market?

11. Who are the key companies/players in the global forklift trucks market?

Click

A partial List of our Clients

Partial List of Clients

We are the trusted business partners to the world's leading corporates, governments, and institutions

A partial List of our Clients

Partial List of Clients

We are the trusted business partners to the world's leading corporates, governments, and institutions

Report Description Report Description and Highlights

© 2022 IMARC All Rights Reserved

This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC).

Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication.

IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.