ASIA-PACIFIC FORKLIFT TRUCK MARKET 2022-2028

Building & Construction | Construction Materials

ASIA-PACIFIC FORKLIFT TRUCK MARKET 2022-2028

Market by Product Type, Power Source, Class, End-user, and Country Outlook | Forecast 2022-2028

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Triton’s research report states that the forklift truck market in Asia-Pacific is expected to advance with a CAGR of 7.88% during the forecasting years 2022-2028.


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The countries evaluated in the region include:

•         China

•         India

•         Japan

•         South Korea

•         Australia & New Zealand

•         ASEAN Countries

•         Rest of Asia-Pacific

China holds the majority of the shares in the forklift truck market. The region’s market is driven by the rising e-commerce business and warehouse space. In this regard, forklift trucks are widely used to move goods to pallet racks across warehouses. Since they are offered in various models, their deployment differs based on the application. This has led e-commerce companies to invest heavily in material handling equipment, which creates various opportunities for the forklift truck market.

The expansion of the e-commerce sector primarily supports the Chinese market. Several companies like Alibaba and JD.com have gained significance in the e-commerce sectors. These organizations have established a diversified range of warehouses for storage. In this regard, forklift trucks play a vital role in ensuring efficient operations flow. Therefore, such developments are anticipated to drive the forklift truck market across the nation.

On the other hand, the Japanese market is fueled by the rising automotive sector. Forklift trucks are used in manufacturing utilities of vehicles to perform routine operations, including assembling and handling heavy vehicles. Over the years, the production of automobiles has soared immensely, including passenger and commercial, which has elevated the demand for material handling equipment like forklift trucks.

Forklift trucks are highly efficient and products in the rapidly evolving wholesale & retail sector. They are customized and equipped with a wide range of features to meet the increasing demand of retailers or wholesalers. These trucks assist in the manufacturing of AC motors, controllers, and related software as a combined system. The market’s growth is assessed in terms of end-user, class, power source, and product type. The end-user segment includes retail & wholesale, automotive, food industry, logistics, and other end-users.

The notable companies in the market include Hyster-Yale Materials Handling Inc, Mitsubishi Loginext Co Ltd, Jungheinrich AG, and EP Equipment Co Ltd.

Mitsubishi Loginext Co Ltd designs, develops, manufactures, and commercializes transportation robots, electric and engine-powered forklifts, monorails, automated warehouses, and other equipment. The company offers reach trucks, large IC trucks, small and medium sized IC trucks, low lifters, order pickers, lateral stacking trucks, power pallet trucks, and towing tractors, among others. Mitsubishi services clientele across multiple countries, with headquarters located in Japan.

 

Key deliverables of the report:

      Market CAGR during the forecasting years 2022-2028

      Detailed data highlighting key insights, industry components, and market strategies


      Comprehensive information and estimation of the forklift truck market revenue growth in the Asia-Pacific and its influence on the parent market


      In-depth study of forthcoming trends in consumer behavioral patterns


      A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces


      A wide-ranging study of factors that will challenge the APAC forklift truck market’s growth during the upcoming years

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Table of Content

1. ASIA-PACIFIC FORKLIFT TRUCK MARKET - SUMMARY

2. INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON THE FORKLIFT TRUCK MARKET

2.2. KEY INSIGHTS

2.2.1. FUEL EFFICIENCY AND LOW CARBON EMISSIONS

2.2.2. COUNTERBALANCE FORKLIFT HOLDS THE HIGHEST SHARE IN THE PRODUCT TYPE SEGMENT

2.3. PORTER’S FIVE FORCES ANALYSIS

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTES

2.3.3. BARGAINING POWER OF BUYERS

2.3.4. BARGAINING POWER OF SUPPLIERS

2.3.5. THREAT OF COMPETITIVE RIVALRY

2.4.  KEY IMPACT ANALYSIS

2.4.1. COST

2.4.2. TYPE OF ENGINE 

2.4.3. PAYLOAD CAPACITIES   

2.4.4. LIFT HEIGHT

2.5. MARKET ATTRACTIVENESS INDEX

2.6. VENDOR SCORECARD

2.7. REGULATORY FRAMEWORK

2.8. KEY MARKET STRATEGIES

2.8.1. ACQUISITIONS

2.8.2. PRODUCT LAUNCHES

2.8.3. CONTRACTS & AGREEMENTS

2.9. MARKET DRIVERS

2.9.1. GROWTH IN INFRASTRUCTURE PROJECTS 

2.9.2. WAREHOUSE EXPANSIONS

2.9.3. THRIVING E-COMMERCE INDUSTRY

2.10. MARKET CHALLENGE

2.10.1. VOLATILE COST OF RAW MATERIALS

2.11. MARKET OPPORTUNITIES

2.11.1. INCREASED GOVERNMENT EXPENDITURE IN EMERGING ECONOMIES

2.11.2. RISING INVESTMENTS IN AUTONOMOUS FORKLIFT TRUCKS

3. ASIA-PACIFIC FORKLIFT TRUCK MARKET OUTLOOK - BY PRODUCT TYPE

3.1. WAREHOUSE FORKLIFT

3.2. COUNTERBALANCE FORKLIFT

4. ASIA-PACIFIC FORKLIFT TRUCK MARKET OUTLOOK - BY POWER SOURCE

4.1. INTERNAL COMBUSTION ENGINE

4.2. ELECTRIC MOTOR

5. ASIA-PACIFIC FORKLIFT TRUCK MARKET OUTLOOK - BY CLASS

5.1. CLASS 1

5.2. CLASS 2

5.3. CLASS 3

5.4. CLASS 4

5.5. CLASS 5

6. ASIA-PACIFIC FORKLIFT TRUCK MARKET OUTLOOK - BY END-USER

6.1. RETAIL & WHOLESALE

6.2. LOGISTICS

6.3. MANUFACTURING

6.4. AUTOMOTIVE

6.5. FOOD INDUSTRY

6.6. OTHER END-USERS

7. ASIA-PACIFIC FORKLIFT TRUCK MARKET – COUNTRY OUTLOOK

7.1. CHINA

7.2. JAPAN

7.3. INDIA

7.4. SOUTH KOREA

7.5. ASEAN COUNTRIES

7.6. AUSTRALIA & NEW ZEALAND

7.7. REST OF ASIA-PACIFIC

8. COMPETITIVE LANDSCAPE

8.1. HANGCHA GROUP CO LTD 

8.2. KION GROUP AG

8.3. ANHUI HELI CO LTD   

8.4. CLARK MATERIAL HANDLING COMPANY   

8.5. CROWN EQUIPMENT CORPORATION         

8.6. TOYOTA INDUSTRIES CORPORATION        

8.7. MITSUBISHI LOGISNEXT CO LTD  

8.8. JUNGHEINRICH AG     

8.9. EP EQUIPMENT CO LTD.       

8.10. HYSTER-YALE MATERIALS HANDLING INC      

8.11. HYUNDAI HEAVY INDUSTRIES CO LTD 

8.12. KOMATSU LTD 

8.13. LONKING HOLDINGS LIMITED         

8.14. GODREJ & BOYCE MANUFACTURING COMPANY LIMITED    

8.15. DOOSAN GROUP

9. RESEARCH METHODOLOGY & SCOPE

9.1. RESEARCH SCOPE & DELIVERABLES

9.2. SOURCES OF DATA

9.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD

TABLE 3: REGULATORY FRAMEWORK

TABLE 4: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)

TABLE 5: ASIA-PACIFIC FORKLIFT TRUCK MARKET BY POWER SOURCE, 2022-2028 (IN $ MILLION)

TABLE 6: ASIA-PACIFIC FORKLIFT TRUCK MARKET BY CLASS, 2022-2028 (IN $ MILLION)

TABLE 7: ASIA-PACIFIC FORKLIFT TRUCK MARKET BY END-USER, 2022-2028 (IN $ MILLION)

TABLE 8: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX

FIGURE 2: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY PRODUCT TYPE, 2021 & 2028 (IN %)

FIGURE 3: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY WAREHOUSE FORKLIFT, 2022-2028 (IN $ MILLION)

FIGURE 4: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY COUNTERBALANCE FORKLIFT, 2022-2028 (IN $ MILLION)

FIGURE 5: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY POWER SOURCE, 2021 & 2028 (IN %)

FIGURE 6: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY INTERNAL COMBUSTION ENGINE, 2022-2028 (IN $ MILLION)

FIGURE 7: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY ELECTRIC MOTOR, 2022-2028 (IN $ MILLION)

FIGURE 8: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY CLASS, 2021 & 2028 (IN %)

FIGURE 9: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY CLASS 1, 2022-2028 (IN $ MILLION)

FIGURE 10: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY CLASS 2, 2022-2028 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY CLASS 3, 2022-2028 (IN $ MILLION)

FIGURE 12: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY CLASS 4, 2022-2028 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY CLASS 5, 2022-2028 (IN $ MILLION)

FIGURE 14: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY END-USER, 2021 & 2028 (IN %)

FIGURE 15: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY RETAIL & WHOLESALE, 2022-2028 (IN $ MILLION)

FIGURE 16: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY LOGISTICS, 2022-2028 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY MANUFACTURING, 2022-2028 (IN $ MILLION)

FIGURE 18: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)

FIGURE 19: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY FOOD INDUSTRY, 2022-2028 (IN $ MILLION)

FIGURE 20: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY OTHER END-USERS, 2022-2028 (IN $ MILLION)

FIGURE 21: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2021 & 2028 (IN %)

FIGURE 22: CHINA FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)

FIGURE 23: JAPAN FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)

FIGURE 24: INDIA FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)

FIGURE 25: SOUTH KOREA FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)

FIGURE 26: ASEAN COUNTRIES FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)

FIGURE 27: AUSTRALIA & NEW ZEALAND FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)

FIGURE 28: REST OF ASIA-PACIFIC FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)

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