2021-2030 Analysis and Review Forklift Truck Market

Forklift Truck Market

Forklift Truck Market By Power Source (Internal Combustion Engine, Electric-powered engine), By Product (Warehouse Forklift, Counterbalance Forklift), By Class (Electric motor rider trucks, Electric motor narrow aisle trucks, Electric motor hand trucks, Internal combustion engine trucks, Electric & internal combustion engine tractors(class 5)), By End User (Retail & Wholesale, Logistics, Automotive, Food Industry) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2030

30-03-2022 REP-HC-139307 109 pages Format

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Global forklift truck market is estimated to grow at a CAGR of 3.4% during forecast period (2022-2030). Global forklift truck market is primarily driven by increasing e-commerce business and growing warehouse space. Companies in e-commerce industry are investing huge capital to expand their business and improve their operations, due to significant raise in sale during the pandemic.

Electric Powered Engine Forklifts to Grow the Highest Rate

Global forklift truck market has been segmented on the basis of class, product type, power source and end-users. Electric powered engine in power source segment is expected to grow at highest rate in terms of revenue, with CAGR of around 3.8% during the forecast period. Adoption of electric powered forklift truck is increasing due to its cost-effective trait over the year and low carbon emission. Electric powered forklift truck majorly has application in e-commerce and warehouses to lift material from one place to another. Growing e-commerce industry is expected to increase the adoption of electric powered forklift truck across the globe.

Warehouse Forklifts to Evidence Highest Growth Owing to Booming E-Commerce Industry

Warehouse forklift is expected to rise at a highest CAGR of 3.6% in the forecast period. Global warehouse forklift truck market is primarily driven by increasing growth of e-commerce industry. Companies operating in e-commerce industry are increasingly investing in developing stronger distribution chains by expanding their warehouses to increase the speed of delivery time. The increasing number of warehouses is expected to supplement the growth of global warehouse forklift market during the forecast period as these trucks are used in warehouses for lifting, transporting and handling goods.

Retail and Wholesale Segment to Remain as The Largest End User Segment

Retail and wholesale in the end-user segment lead the global forklift truck market by capturing market share of over 29.81% in 2020. Retail and wholesale market is anticipated to rise at a CAGR of 3.6% during forecast period. Forklift trucks have application in retail and wholesale for picking, relocating and arranging the retail goods at appropriate places in the factory or store. Growth in global retail & wholesale industry is expected to boost the adoption of forklift trucks and thereby, drive the global forklift truck market growth by retail & wholesale end user segment. The growth in retail sector is expected to create lucrative opportunities for the growth in the retail and wholesale market.

Asia is a Market Leader by Revenues and Growth

Geographically, the forklift truck market has been segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). Asia Pacific is expected to account for largest market share i.e. 36.37% in terms of revenue in 2020. Asia Pacific forklift truck market growth is justified towards the fact of escalating construction sector, establishment & expansion of warehouses and surging e-commerce industry. Furthermore, Asia is one of the largest importer of oil and gas, chemicals and other petrochemicals; increasing the traffic at ports, hence necessitating adoption of forklift trucks to effectively manage goods and materials at sea ports.

Focus on Innovation and Collaborations to Enhance Market Share Among Competitors

Product launch is the primary strategy adopted by companies in global forklift truck system market. New and advanced products help to improve company’s market visibility while competing effectively with key competitors in the market. Partnership and collaboration is the secondary strategy adopted by companies in global forklift truck market. Strategic partnership allows the companies to share their resources to serve their respective self-interest. Though M&A is also noticeable in the forklift trucks market. The top companies include Toyota Industry Corp, Kion group, Mitsubishi Logisnext Co. Ltd, Crown Equipment Corporation, and Jungheinrich Group.

Historical & Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2030.

Report Methodology

Market revenues andCAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies, and primary research. The scope of the market is limited to the following segments of product categories and region.

By Power Source (2020-2030; US$ Mn)

Internal Combustion Engine
Electric-powered engine
By Product Type(2020-2030; US$ Mn)
Warehouse Forklift
Counterbalance Forklift

By Class (2020-2030; US$ Mn)

Electric motor rider trucks (class 1)
Electric motor narrow aisle trucks (class 2)
Electric motor hand trucks (class 3)
Internal combustion engine trucks (solid/cushion trucks) (class 4)
Electric & internal combustion engine tractors (class 5)

By End User (2020-2030; US$ Mn)

Retail & Wholesale
Logistics
Automotive
Food Industry
Others

By Region (2020-2030; US$ Mn)

North America
Europe
Asia Pacific
Latin America
Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

Pre Covid-19 situation
Post Covid-19 situation

Key questions answered in this report

What are the key market segments in current scenario and in the future by product categories?
What are the key market segments in current scenario and in the future by regions?
What is the key impact of Covid-19 over market revenues and market determinants in the global forklift trucks market?
What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
How to overcome the current market challenges and leverage the opportunities in each of the market segment?
Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?

Forklift Truck Market - Table of Contents

Chapter 1. Preface

Chapter 2. Market Overview: Global Forklift Truck Market
2.1. Global Forklift Truck Market: Evolution and Transition
2.2. Market Definition & Scope
2.3. industry Structure
2.3.1. Raw Material Suppliers
2.3.2. Manufacturers
2.3.3. Distributor
2.3.4. End Users
2.4. Regulatory Framework
2.5. Total Market Analysis
2.5.1. Top Findings
2.5.2. Top Opportunity Market
2.5.3. Top 5 Companies
2.5.4. Top Competitive Strategies
2.6. Estimation Analysis
2.7. Strategic Analysis
2.7.1. investment Versus Adoption Model
2.7.2. 360 Degree Analysis
2.7.3. Porter’s 5 force Model
2.7.3.1. Threat of New Entrants
2.7.3.2. Threat of Substitute Products
2.7.3.3. Bargaining Power of Buyer
2.7.3.4. Bargaining Power of Supplier
2.7.3.5. intensity of Competitive Rivalry
2.7.4. Key Buying Criteria
2.7.5. See Saw Analysis
2.8. Competitive Analysis
2.8.1. Market Share Analysis
2.9. Strategic Recommendations & Key Conclusions

Chapter 3. Market Determinants: Global Forklift Truck Market
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunity
3.4. Market Challenge

Chapter 4 Global Forklift Truck Market by Product Type, 2020-2030, ($ Million)
4.1. Market Definition and Scope
4.2. Decision Support Database & Estimation Methodology
4.3. Comparative Analysis Across Market Segments
4.4. Opportunity Matrix
4.5. Market Segmentation
4.5.1. Global Warehouse Forklift Market
4.5.1.1. Adoption Scenario & Market Determinants
4.5.1.2. Market Estimations and forecasts 2020-2030($ Million)
4.5.2. Global Counter-Balance Trucks Market
4.5.2.1. Adoption Scenario & Market Determinants
4.5.2.2. Market Estimations and forecasts 2020-2030($ Million)

Chapter 5 Global Forklift Truck Market by Class, 2020-2030, ($ Million)
5.1. Market Definition and Scope
5.2. Decision Support Database & Estimation Methodology
5.3. Comparative Analysis Across Market Segments
5.4. Opportunity Matrix
5.5. Market Segmentation
5.5.1. Global Electric Motor Rider Trucks (Class 1) Market
5.5.1.1. Adoption Scenario & Market Determinants
5.5.1.2. Market Estimations and forecasts 2020-2030 ($ Million)
5.5.1.3. Key Players & Key Products
5.5.1.4. Key Conclusion
5.5.2. Global Electric Motor Narrow Aisle Trucks (Class 2) Market
5.5.2.1. Adoption Scenario & Market Determinants
5.5.2.2. Market Estimations and forecasts 2020-2030($ Million)
5.5.2.3. Key Players & Key Products
5.5.2.4. Key Conclusion
5.5.3. Global Electric Motor Hand Trucks (Class 3) Market
5.5.3.1. Adoption Scenario & Market Determinants
5.5.3.2. Market Estimations and forecasts 2020-2030($ Million)
5.5.3.3. Key Players & Key Products
5.5.3.4. Key Conclusion
5.5.4. Global internal Combustion Engine Trucks (Solid/Cushion Trucks) (Class 4) Market
5.5.4.1. Adoption Scenario & Market Determinants
5.5.5. Market Estimations and forecasts 2020-2030($ Million)
5.5.5.1. Key Players & Key Product
5.5.5.2. Key Conclusion
5.5.6. Global Electric & internal Combustion Engine Tractors (Class 5) Market
5.5.6.1. Adoption Scenario & Market Determinants
5.5.6.2. Market Estimations and forecasts 2020-2030 ($ Million)
5.5.6.3. Key Players & Key Products
5.5.6.4. Key Conclusion

Chapter 6 Global Forklift Truck Market by Power Source, 2020-2030, ($ Million)
6.1. Market Definition and Scope
6.2. Decision Support Database & Estimation Methodology
6.3. Comparative Analysis Across Market Segments
6.4. Opportunity Matrix
6.5. Market Segmentation
6.5.1. Global internal Combustion Engine Power Market
6.5.1.1. Adoption Scenario & Market Determinants
6.5.1.2. Market Estimations and forecasts 2020-2030 ($ Million)
6.5.1.3. Key Players & Key Products
6.5.1.4. Key Conclusion
6.5.2. Global Electric-Powered Engine Market
6.5.2.1. Adoption Scenario & Market Determinants
6.5.2.2. Market Estimations and forecasts 2020-2030 ($ Million)
6.5.2.3. Key Players & Key Products
6.5.2.4. Key Conclusion

Chapter 7 Global Forklift Truck Market by End User, 2020-2030, ($ Million)
7.1. Market Definition and Scope
7.2. Decision Support Database & Estimation Methodology
7.3. Comparative Analysis Across Market Segments
7.4. Opportunity Matrix
7.5. Market Segmentation
7.5.1. Global Retail & Wholesale Market
7.5.1.1. Adoption Scenario & Market Determinants
7.5.1.2. Market Estimations and forecasts 2020-2030($ Million)
7.5.1.3. Key Players & Key Products
7.5.1.4. Key Conclusion
7.5.2. Global Logistics Market
7.5.2.1. Adoption Scenario & Market Determinants
7.5.2.2. Market Estimations and forecasts 2020-2030($ Million)
7.5.2.3. Key Players & Key Products
7.5.2.4. Key Conclusion
7.5.3. Global Automotive Market
7.5.3.1. Adoption Scenario & Market Determinants
7.5.3.2. Market Estimations and forecasts 2020-2030($ Million)
7.5.3.3. Key Players & Key Products
7.5.3.4. Key Conclusion
7.5.4. Global Food Industry Market
7.5.4.1. Adoption Scenario & Market Determinants
7.5.4.2. Market Estimations and forecasts 2020-2030($ Million)
7.5.6. Key Players & Key Products
7.5.7. Key Conclusion
7.5.8. Global Others Market
7.5.8.1. Adoption Scenario & Market Determinants
7.5.8.2. Market Estimations and forecasts 2020-2030($ Million)
7.5.8.3. Key Players & Key Products
7.5.5.4. Key Conclusion

Chapter 8. North America Forklift Truck Market, 2020-2030, ($ Million)
8.1. Market Overview
8.2 Segmentation Analysis by Region 2020-2030 ($Million)
8.2.1. United States
8.2.2. Canada

Chapter 9. UK & European Forklift Truck Market, 2020-2030, ($ Million)
9.1. Market Overview
9.2. Segmentation Analysis by Region 2020-2030 ($ Million)
9.2.1. United Kingdom
9.2.2. France
9.2.3. Germany
9.2.4. Russia
9.2.5. Rest of Europe

Chapter 10. Asia-Pacific Forklift Truck Market, 2020-2030, ($ Million)
10.1. Market Overview
10.2. Segmentation Analysis by Region 2020-2030 ($Million)
10.2.1. China
10.2.2. India
10.2.3. Japan
10.2.4. Australia
10.2.5. Rest of Asia-Pacific

Chapter 11. ROW Forklift Truck Market, 2020-2030, ($ Million)
11.1. Market Overview
11.2. Segmentation Analysis by Region 2020-2030 ($ Million)
11.2.1. Latin America
11.2.2. Middle East & Africa

Chapter 12. Company Profile
12.1. Hangcha Group Co., Ltd
12.2. Kion Group Ag
12.3. Anhui Heli Co. Ltd.
12.4. Clark Material Handling Company
12.5. Crown Equipment Corporation
12.6. Toyota industries Corporation
12.7. Mitsubishi Logisnext Co., Ltd.
12.8. Jungheinrich Ag
12.9. Ep Equipment Co. Ltd.
12.10. Hyster-Yale Materials Handling, Inc.
12.11. Hyundai Heavy Industries Co., Ltd.
12.12. Komatsu Ltd.
12.13. Lonking Holdings Limited
12.14. Godrej & Boyce Manufacturing Company Limited
12.15. Doosan Corporation Industrial Vehicle

Forklift Truck Market - List of Tables

Table 1 Global forklift Truck Market by Power Source 2020-2030 ($ Million)
Table 2 investment Versus Adoption Model: Global forklift Truck Market by End Users, 2020-2030
Table 3 Driver Impact Analysis of Global Forklift Truck Market
Table 4 Restraint Impact Analysis of Global Forklift Truck Market
Table 5 Opportunity Impact Analysis of Global Forklift Truck Market
Table 6 Challenge Impact Analysis of Global Forklift Truck Market
Table 7 Global forklift Trucks Market by Product Type 2020-2030 ($ Million)
Table 8 Global Warehouse Forklift Market by Geography 2020-2030 ($ Million)
Table 9 Global Counterbalance Forklift Market by Geography 2020-2030 ($ Million)
Table 10 Global forklift Trucks Market by Class 2020-2030 ($ Million)
Table 11 Global Electric Motor Rider Trucks (Class 1) Market by Geography 2020-2030 ($ Million)
Table 12 Global Electric Motor Narrow Aisle Trucks (Class 2) Market by Geography 2020-2030 ($ Million)
Table 13 Global Electric Motor Hand Trucks (Class 3) Market by Geography 2020-2030 ($ Million)
Table 14 Global internal Combustion Engine Trucks (Solid/Cushion Trucks) (Class 4) Market by Geography 2020-2030 ($ Million)
Table 15 Global Electric &internal Combustion Engine Tractors (Class 5) Market by Geography 2020-2030 ($ Million)
Table 16 Global forklift Truck Market by Power Source 2020-2030 ($ Million)
Table 17 Global internal Combustion Engine Power Market by Geography 2020-2030 ($ Million)
Table 18 Global Electric-Powered Engine Market by Geography 2020-2030 ($ Million)
Table 19 Global forklift Truck Market by End User 2020-2030 ($ Million)
Table 20 Global Retail & Wholesale Market by Geography 2020-2030 ($ Million)
Table 21 Global Logistics Market by Geography 2020-2030 ($ Million)
Table 22 Global Automotive Market by Geography 2020-2030 ($ Million)
Table 23 Global Food Industry Market by Geography 2020-2030 ($ Million)
Table 24 Global Others Market by Geography 2020-2030 ($ Million)
Table 25 North America forklift Truck Market 2020-2030 ($ Million)
Table 26 Europe forklift Truck Market 2020-2030 ($ Million)
Table 27 Asia-Pacific Forklift Truck Market 2020-2030 ($ Million)
Table 28 Rest of The World Forklift Truck Market 2020-2030 ($ Million)

Forklift Truck Market - List of Figures

Figure 1 Global forklift Truck Market Regional Analysis 2020-2030 (%)
Figure 2 Timeline of Global Forklift Truck Market
Figure 3 Asia Pacific forklift Truck Market 2020-2030 ($ Million)
Figure 4 Global Counterbalance Market 2020-2030 ($ Million)
Figure 5 Global Retail and Wholesale Market 2020-2030 ($ Million)
Figure 6 United States Forklift Truck Market 2020-2030 ($ Million)
Figure 7 China forklift Truck Market 2020-2030 ($ Million)
Figure 8 Indiaforklift Truck Market 2020-2030 ($ Million)
Figure 9 Germany forklift Truck Market 2020-2030 ($ Million)
Figure 10 Global Electric Powered Forklift Truck Market 2020-2030 ($ Million)
Figure 11 Global Warehouse Forklift Type Market 2020-2030 ($ Million)
Figure 12 Wages Related with Automatable Activities ($ Trillion)
Figure 13 International Seaborne Trade
Figure 14 Consumer Behavior Analysis 2016-2023
Figure 15 See-Saw Analysis of Global Forklift Truck Market
Figure 16 Market Share Analysis of Global Forklift Truck Market, 2020 (% Revenue)
Figure 17 Comparative Analysis Across Market Segments 2020 & 2030(%)
Figure 18 Comparative Analysis Across Market Segments 2020 & 2030(%)
Figure 19 Global Warehouse Forklift Market 2020-2030 ($ Million)
Figure 20 Global Counterbalance Forklift Market 2020-2030 ($ Million)
Figure 21 Comparative Analysis Across Market Segments 2020 & 2030(%)
Figure 22 Global Electric Motor Rider Trucks (Class 1) Market 2020-2030 ($ Million)
Figure 23 Global Electric Motor Narrow Aisle Trucks (Class 2) Market 2020-2030 ($ Million)
Figure 24 Global Electric Motor Hand Trucks (Class 3) Market 2020-2030 ($ Million)
Figure 25 Global internal Combustion Engine Trucks (Solid/Cushion Trucks) (Class 4) Market 2020-2030 ($ Million)
Figure 26 Global Electric &internal Combustion Engine Tractors (Class 5) Market 2020-2030 ($ Million)
Figure 27 Comparative Analysis Across Market Segments 2020 & 2030(%)
Figure 28 Global internal Combustion Engine Power Market 2020-2030 ($ Million)
Figure 29 Global Electric-Powered Engine Market 2020-2030 ($ Million)
Figure 30 Comparative Analysis Across Market Segments 2020 & 2030(%)
Figure 31 Global Retail & Wholesale Market 2020-2030 ($ Million)
Figure 32 Global Logistics Market 2020-2030 ($ Million)
Figure 33 Global Automotive Market 2020-2030 ($ Million)
Figure 34 Global Food Industry Market 2020-2030 ($ Million)
Figure 35 Global Others Market 2020-2030 ($ Million)
Figure 36 United States Forklift Truck Market 2020-2030 ($ Million)
Figure 37 Canada forklift Truck Market 2020-2030 ($ Million)
Figure 38 United Kingdom Forklift Truck Market 2020-2030 ($ Million)
Figure 39 France forklift Truck Market 2020-2030 ($ Million)
Figure 40 Germany forklift Truck Market 2020-2030 ($ Million)
Figure 41 Spain forklift Truck Market 2020-2030 ($ Million)
Figure 42 Rest of Europe forklift Truck Market 2020-2030 ($ Million)
Figure 43 China forklift Truck Market 2020-2030 ($ Million)
Figure 44 Indiaforklift Truck Market 2020-2030 ($ Million)
Figure 45 Japan forklift Truck Market 2020-2030 ($ Million)
Figure 46 Australia forklift Truck Market 2020-2030 ($ Million)
Figure 47 Rest of Asia-Pacific Forklift Truck Market 2020-2030 ($ Million)
Figure 48 Latin America forklift Truck Market 2020-2030 ($ Million)
Figure 49 Middle East & Africa forklift Truck Market 2020-2030 ($ Million)