Market by Product Type, Power Source, Class, End-user, and Regional Outlook | Forecast 2022-2028
Forklifts, also known
as lift trucks, help move materials from one place to another. They are
employed in warehouses, ports, logistics, etc. Moreover, they can carry the
load at a specific maximum weight and forward center of gravity. This has led
companies to introduce an innovative range of forklifts with features such as
powerful engines, increased lifting capacity, comfort, and fuel
efficiency.
According to Triton Market Research’s analysis, the Global Forklift Truck Market is likely to reach $106.26 billion by 2028, with a CAGR of
7.62% from $66.03 billion in 2021
during the forecast period 2022-2028.
Click here to check out our blog on the Global Forklift Truck Market
MARKET PERFORMANCE: DRIVERS,
CHALLENGES, AND TRENDS
Factors such as growth in infrastructure projects globally,
warehouse expansions, and the thriving e-commerce industry are driving market
growth. Customers using e-commerce
services expect to receive their products quickly and in perfect condition.
This places massive demand on the e-commerce warehouses to pick, pack, and ship
the products at the earliest, thereby raising the demand for material handling
equipment. In
this regard, the warehouse & distribution center operations must be highly
efficient to deliver products in a specified duration and ensure easy exchange
methods. This is increasing the demand for forklift trucks as they are useful
in moving goods in and around the warehouse. Companies such as Amazon, Alibaba,
Walmart, and other retail players are expanding their fleets of forklift
trucks.
However, the volatile cost of raw materials is a challenge
for the studied market. OEMs depend on a limited number of
suppliers for components used in forklift trucks, such as gasoline, diesel, and
alternative fuel engines. Moreover, the shortage of rare earth metals, such as
lithium, cobalt, and manganese, further impacts forklift trucks’ adoption. Further, manufacturers are subject to
various legal and government regulations across different countries. Companies
must comply with business and investment approvals and adhere to import and
export regulations. Changes in these regulations can harm the financial
position of a company and its performance.
Nevertheless, the fuel efficiency and low carbon emissions of forklift trucks are expected to create growth opportunities in the global market. The logistics & transport industry is working towards introducing greener solutions as the manufacturers have become more aware of environmental problems. As a result, they are working towards introducing battery-based and electric-based forklifts as they are zero-emission trucks.
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KEY GEOGRAPHIES COVERED:
●
North America: United States and Canada
●
Europe: United Kingdom, France, Germany, Spain, Italy, Belgium,
and Rest of Europe
●
Asia-Pacific: China, Japan, India, South Korea, ASEAN Countries,
Australia & New Zealand, and Rest of Asia-Pacific
●
Latin America: Brazil, Mexico, and Rest of Latin America
●
Middle East and Africa: United Arab Emirates, Saudi Arabia,
Turkey, and Rest of Middle East & Africa
SEGMENTATION ANALYSIS -
FORKLIFT TRUCK MARKET:
• Market by Product Type:
o Warehouse
Forklift
o Counterbalance
Forklift
• Market by Power Source:
o Internal
Combustion Engine
The internal combustion engine (ICE) leads the
power source segment.
ICE is ideal for outdoor applications and has extensive usage in the iron,
steel, automobile manufacturing, and shipbuilding industry. ICE-powered
forklifts that include counterbalance forklift trucks are also used on the
seaports to load and unload the containers. Substantial investment in the
development of ports drives the adoption of ICE-powered forklift trucks.
o Electric
Motor
• Market By Class:
o Class
1
o Class
2
o Class
3
o Class
4
o Class
5
• Market by End-user:
o Retail
& Wholesale
Retail & Wholesale is the fastest-growing
category in the end-user segment. Forklift trucks used in the segment are deployed for elating and
relocating industrial goods from one place to another. Forklift trucks of
varied sizes are being used to quickly transfer different quantities of retail
items or packages from one place to another. Moreover, they are used to pick
up, relocate, and arrange the goods in the factory or store. Growth in the
retail and wholesale industries is predicted to increase forklift truck
adoption, thus driving the retail & wholesale segment.
o Logistics
o Manufacturing
o Automotive
o Food
Industry
o Other
End-users
COMPETITIVE LANDSCAPE
The forklift truck market by company profile
helps dive into data about the key players in this industry. The strategic
initiatives for each of the companies considered have been covered in detail.
Product Launch (January
2022): Doosan Corporation
Doosan added the
sophisticated heavy-lifting D70S-9 range to its new 9-Series, Euro Stage V
compatible IC engine counterbalance forklift trucks.
Product Launch (January 2022):
Toyota Material Handling
Toyota Material Handling UK launched its new Traigo 80 80-volt range of
electric counterbalance forklifts designed for indoor and heavy-duty outdoor
use.
KEY BENEFITS OF THE REPORT:
●
Triton Market Research has a collective experience of 25-30 years
in the industry, with its analysts and experts encompassing the most infallible
research methodology for its market intelligence and industry analysis.
●
Our research methodology helps in achieving a broader consensus of
the market size, shape, and industry trends within each industry segment.
●
The strategy adopted in designing the research methodology
includes the amalgamation of the information assembled from primary and
secondary sources, with the assistance of analytical tools to construct the
forecast and predictive models.
●
The scope of the market report comprises the current scenario of
the global forklift truck market, along with the detailed overview of the
industry outlook, market dynamics, segmentation analysis, regional outlook, and
competitive landscape for the period 2022-2028.
FAQs:
Q 1) Which major segments are
covered in the forklift truck market?
The major segments covered in the forklift truck market are product
type, power source, class, and end-user.
Q 2) Which is the leading
power source in the forklift truck market?
Internal combustion engine (ICE) is the leading category in the power
source segment.
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VIEW REPORT1. GLOBAL
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. GLOBAL
FORKLIFT TRUCK MARKET OUTLOOK - BY PRODUCT TYPE
3.1. WAREHOUSE
FORKLIFT
3.2. COUNTERBALANCE
FORKLIFT
4. GLOBAL
FORKLIFT TRUCK MARKET OUTLOOK - BY POWER SOURCE
4.1. INTERNAL
COMBUSTION ENGINE
4.2. ELECTRIC
MOTOR
5. GLOBAL
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. GLOBAL
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. GLOBAL
FORKLIFT TRUCK MARKET – BY REGIONAL OUTLOOK
7.1. NORTH AMERICA
7.1.1. MARKET
BY PRODUCT TYPE
7.1.2. MARKET
BY POWER SOURCE
7.1.3. MARKET
BY CLASS
7.1.4. MARKET
BY END-USER
7.1.5. COUNTRY
ANALYSIS
7.1.5.1. UNITED
STATES
7.1.5.2. CANADA
7.2. EUROPE
7.2.1. MARKET
BY PRODUCT TYPE
7.2.2. MARKET
BY POWER SOURCE
7.2.3. MARKET
BY CLASS
7.2.4. MARKET
BY END-USER
7.2.5. COUNTRY
ANALYSIS
7.2.5.1. UNITED
KINGDOM
7.2.5.2. GERMANY
7.2.5.3. FRANCE
7.2.5.4. SPAIN
7.2.5.5. ITALY
7.2.5.6. BELGIUM
7.2.5.7. REST
OF EUROPE
7.3. ASIA-PACIFIC
7.3.1. MARKET
BY PRODUCT TYPE
7.3.2. MARKET
BY POWER SOURCE
7.3.3. MARKET
BY CLASS
7.3.4. MARKET
BY END-USER
7.3.5. COUNTRY
ANALYSIS
7.3.5.1. CHINA
7.3.5.2. JAPAN
7.3.5.3. INDIA
7.3.5.4. SOUTH
KOREA
7.3.5.5. ASEAN
COUNTRIES
7.3.5.6. AUSTRALIA
& NEW ZEALAND
7.3.5.7. REST
OF ASIA-PACIFIC
7.4. LATIN
AMERICA
7.4.1. MARKET
BY PRODUCT TYPE
7.4.2. MARKET
BY POWER SOURCE
7.4.3. MARKET
BY CLASS
7.4.4. MARKET
BY END-USER
7.4.5. COUNTRY
ANALYSIS
7.4.5.1. BRAZIL
7.4.5.2. MEXICO
7.4.5.3. ARGENTINA
7.4.5.4. REST
OF LATIN AMERICA
7.5. MIDDLE
EAST AND AFRICA
7.5.1. MARKET
BY PRODUCT TYPE
7.5.2. MARKET
BY POWER SOURCE
7.5.3. MARKET
BY CLASS
7.5.4. MARKET
BY END-USER
7.5.5. COUNTRY
ANALYSIS
7.5.5.1. UNITED
ARAB EMIRATES
7.5.5.2. SAUDI
ARABIA
7.5.5.3. EGYPT
7.5.5.4. SOUTH
AFRICA
7.5.5.5. REST
OF MIDDLE EAST & AFRICA
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
TABLE
1: GLOBAL FORKLIFT TRUCK MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE
2: VENDOR SCORECARD
TABLE
3: REGULATORY FRAMEWORK
TABLE
4: GLOBAL FORKLIFT TRUCK MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)
TABLE
5: GLOBAL FORKLIFT TRUCK MARKET BY POWER SOURCE, 2022-2028 (IN $ MILLION)
TABLE
6: GLOBAL FORKLIFT TRUCK MARKET BY CLASS, 2022-2028 (IN $ MILLION)
TABLE
7: GLOBAL FORKLIFT TRUCK MARKET BY END-USER, 2022-2028 (IN $ MILLION)
TABLE
8: GLOBAL FORKLIFT TRUCK MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE
9: NORTH AMERICA FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $
MILLION)
TABLE
10: NORTH AMERICA FORKLIFT TRUCK MARKET, BY PRODUCT TYPE, 2022-2028 (IN $
MILLION)
TABLE
11: NORTH AMERICA FORKLIFT TRUCK MARKET, BY POWER SOURCE, 2022-2028 (IN $
MILLION)
TABLE
12: NORTH AMERICA FORKLIFT TRUCK MARKET, BY CLASS, 2022-2028 (IN $ MILLION)
TABLE
13: NORTH AMERICA FORKLIFT TRUCK MARKET BY END-USER, 2022-2028 (IN $ MILLION)
TABLE
14: EUROPE FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE
15: EUROPE FORKLIFT TRUCK MARKET, BY PRODUCT TYPE, 2022-2028 (IN $ MILLION)
TABLE
16: EUROPE FORKLIFT TRUCK MARKET, BY POWER SOURCE, 2022-2028 (IN $ MILLION)
TABLE
17: EUROPE FORKLIFT TRUCK MARKET, BY CLASS, 2022-2028 (IN $ MILLION)
TABLE
18: EUROPE FORKLIFT TRUCK MARKET BY END-USER, 2022-2028 (IN $ MILLION)
TABLE
19: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $
MILLION)
TABLE
20: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY PRODUCT TYPE, 2022-2028 (IN $
MILLION)
TABLE
21: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY POWER SOURCE, 2022-2028 (IN $
MILLION)
TABLE
22: ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY CLASS, 2022-2028 (IN $ MILLION)
TABLE
23: ASIA-PACIFIC FORKLIFT TRUCK MARKET BY END-USER, 2022-2028 (IN $ MILLION)
TABLE
24: LATIN AMERICA FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $
MILLION)
TABLE
25: LATIN AMERICA FORKLIFT TRUCK MARKET, BY PRODUCT TYPE, 2022-2028 (IN $
MILLION)
TABLE
26: LATIN AMERICA FORKLIFT TRUCK MARKET, BY POWER SOURCE, 2022-2028 (IN $
MILLION)
TABLE
27: LATIN AMERICA FORKLIFT TRUCK MARKET, BY CLASS, 2022-2028 (IN $ MILLION)
TABLE
28: LATIN AMERICA FORKLIFT TRUCK MARKET BY END-USER, 2022-2028 (IN $ MILLION)
TABLE
29: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2022-2028
(IN $ MILLION)
TABLE
30: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY PRODUCT TYPE, 2022-2028
(IN $ MILLION)
TABLE
31: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY POWER SOURCE, 2022-2028
(IN $ MILLION)
TABLE
32: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY CLASS, 2022-2028 (IN $
MILLION)
TABLE
33: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET BY END-USER, 2022-2028 (IN $
MILLION)
FIGURE
1: MARKET ATTRACTIVENESS INDEX
FIGURE
2: GLOBAL FORKLIFT TRUCK MARKET, BY PRODUCT TYPE, 2021 & 2028 (IN %)
FIGURE
3: GLOBAL FORKLIFT TRUCK MARKET, BY WAREHOUSE FORKLIFT, 2022-2028 (IN $
MILLION)
FIGURE
4: GLOBAL FORKLIFT TRUCK MARKET, BY COUNTERBALANCE FORKLIFT, 2022-2028 (IN $
MILLION)
FIGURE
5: GLOBAL FORKLIFT TRUCK MARKET, BY POWER SOURCE, 2021 & 2028 (IN %)
FIGURE
6: GLOBAL FORKLIFT TRUCK MARKET, BY INTERNAL COMBUSTION ENGINE, 2022-2028 (IN $
MILLION)
FIGURE
7: GLOBAL FORKLIFT TRUCK MARKET, BY ELECTRIC MOTOR, 2022-2028 (IN $ MILLION)
FIGURE
8: GLOBAL FORKLIFT TRUCK MARKET, BY CLASS, 2021 & 2028 (IN %)
FIGURE
9: GLOBAL FORKLIFT TRUCK MARKET, BY CLASS 1, 2022-2028 (IN $ MILLION)
FIGURE
10: GLOBAL FORKLIFT TRUCK MARKET, BY CLASS 2, 2022-2028 (IN $ MILLION)
FIGURE
11: GLOBAL FORKLIFT TRUCK MARKET, BY CLASS 3, 2022-2028 (IN $ MILLION)
FIGURE
12: GLOBAL FORKLIFT TRUCK MARKET, BY CLASS 4, 2022-2028 (IN $ MILLION)
FIGURE
13: GLOBAL FORKLIFT TRUCK MARKET, BY CLASS 5, 2022-2028 (IN $ MILLION)
FIGURE
14: GLOBAL FORKLIFT TRUCK MARKET, BY END-USER, 2021 & 2028 (IN %)
FIGURE
15: GLOBAL FORKLIFT TRUCK MARKET, BY RETAIL & WHOLESALE, 2022-2028 (IN $
MILLION)
FIGURE
16: GLOBAL FORKLIFT TRUCK MARKET, BY LOGISTICS, 2022-2028 (IN $ MILLION)
FIGURE
17: GLOBAL FORKLIFT TRUCK MARKET, BY MANUFACTURING, 2022-2028 (IN $ MILLION)
FIGURE
18: GLOBAL FORKLIFT TRUCK MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)
FIGURE
19: GLOBAL FORKLIFT TRUCK MARKET, BY FOOD INDUSTRY, 2022-2028 (IN $ MILLION)
FIGURE
20: GLOBAL FORKLIFT TRUCK MARKET, BY OTHER END-USERS, 2022-2028 (IN $ MILLION)
FIGURE
21: GLOBAL FORKLIFT TRUCK MARKET, BY REGIONAL OUTLOOK, 2021 & 2028 (IN %)
FIGURE
22: UNITED STATES FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
23: CANADA FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
24: UNITED KINGDOM FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
25: GERMANY FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
26: FRANCE FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
27: SPAIN FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
28: ITALY FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
29: BELGIUM FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
30: REST OF EUROPE FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
31: CHINA FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
32: JAPAN FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
33: INDIA FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
34: SOUTH KOREA FORKLIFT TRUCK MARKET, 2022-2028 (IN $ MILLION)
FIGURE
35: ASEAN COUNTRIES FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
36: AUSTRALIA & NEW ZEALAND FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
37: REST OF ASIA-PACIFIC FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
38: BRAZIL FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
39: MEXICO FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
40: REST OF LATIN AMERICA FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
41: UNITED ARAB EMIRATES FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
42: SAUDI ARABIA FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
43: TURKEY FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE
44: SOUTH AFRICA FORKLIFT TRUCK MARKET, 2022-2028 (IN $ MILLION)
FIGURE
45: REST OF MIDDLE EAST & AFRICA FORKLIFT TRUCK MARKET 2022-2028 (IN $
MILLION)