According to Goldstein Research, the global forklift truck market analysis shows the market size to reach USD 56.8 billion by 2024 from an estimate of USD 36.2 billion in 2016, growing at a compounded annual growth rate of 5.7% during the forecast period 2016-2024. The growth of the construction industry, warehouse and logistics industry & e-commerce industry have propelled the growth of forklift trucks all over the world.
Global forklift truck market segmentation has been carried out on the basis of product type, fuel type, end users, and geography. The construction industry has the high application of forklift trucks and is expected to continue its dominance over the forecast period. Global forklift truck market is majorly driven by the Asia Pacific with a market revenue share of 39% in 2016 in terms of volume of forklift trucks in the region. Further, the Middle East & Africa region is witnessing high deployment of forklift trucks owing to the establishment of automotive OEMs and propelling construction industry.
Market Segmentation
On the basis of our in-depth analysis, Global Forklift Truck Market can be segmented as follows:
By Product Type
- Class I (Electric Motor Rider Trucks)
- Class II (Electric Motor Narrow Aisle Trucks)
- Class III (Hand Rider Trucks)
- Class IV (IC Engine Trucks, solid/Cushion Tires)
- Class V (IC Engine Trucks, Pneumatic Tires)
- Class VI (Electric and IC Engine Tractors)
- Class VII (Rough Terrain Forklift Trucks)
By Fuel Type
- Diesel
- Gasoline
- Electric/Hybrid
By End Users
- Retail Sector
- Transportation & Logistics
- Automotive Sector
- Manufacturing Sector
- Food and Beverages
- Others (Wood Industry, Paper Industry, etc.)
By Region
- North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
- Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Asia Pacific (China, Japan, India, Singapore, South Korea, Australia Forklift Truck Market, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
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“Forklift Truck Market Analysis” contains the detailed overview of the global forklift truck market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type, fuel type, and end users.
Further, for the in-depth analysis, Global Forklift Truck Market Report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Toyota Industries Corporation, Mitsubishi Nichiyu Forklift Co. Ltd., Heli Co. Ltd., Kion Group AG, Jungheinrich AG, Anhui Forklift Group Co. Ltd., UniCarriers, Hyster-Yale Material Handling, HYTSU Group, Hyundai Heavy Industries, etc.
The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.
Overall, the report represents the global forklift truck market trends along with the market forecast that will help market consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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