Market by Power Source, Type, End-user, and Country Outlook | Forecast 2023-2030
According to Triton’s report, the forklift truck market in the Middle East and Africa is expected to witness a CAGR of 4.19% in volume and 8.19% in revenue from 2023 to 2030.
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The countries reviewed in the region comprise:
•
United Arab Emirates
•
Saudi Arabia
•
Turkey
•
South Africa
•
Rest of Middle East & Africa
The forklift market in the Middle East and Africa (MEA) is
experiencing growth accompanied by challenges and opportunities. The expansion
of the construction industry, increasing demand for warehouse space, and the
flourishing e-commerce sector are driving the market growth. However,
challenges such as the high cost of forklifts and the shortage of skilled
operators persist. Overcoming these challenges presents opportunities for
market growth, including addressing cost issues, implementing training
programs, and capitalizing on the expanding construction and e-commerce
sectors.
According to our estimates, Turkey
is dominant in the regional forklift market. The
increasing investment in infrastructure projects and the rapid expansion of the
manufacturing industry are the driving forces behind the country’s rapid
development. In addition, the Turkish government’s proactive approach to
attracting foreign investment and the continued growth of the construction
sector have contributed significantly to the flourishing forklift market. These
combined factors have created fertile ground for economic expansion and
catapulted Turkey to the forefront of global trade and commerce.
The adoption and use of forklifts have significantly boosted the
UAE market. The government’s focus on infrastructure investment has resulted in
many projects that offer significant opportunities for the country’s
construction and engineering firms. The ambitious projects under the ‘50
Initiatives’ also aim to accelerate economic growth and establish the UAE as a
comprehensive hub for various industries that attract foreign direct
investment. This, in turn, creates a favorable environment for the forklift truck
market as increasing economic activity and industrial development creates
demand for efficient material handling solutions.
Class 4 forklifts have internal combustion engines, low ground
clearance, and solid rubber or foam tires that run on various fuels and are
ideal for outdoor use with long hours of operation and little downtime for
refueling. Due to their high load capacity, they are popular for transporting
heavy palletized loads, fueling the market growth. Class 5 forklifts with
electric or internal combustion engines have greater ground clearance and
pneumatic tires. They can run on multiple fuels and offer higher load capacity
and ground clearance than Class 4 forklifts. This makes them suitable for
transporting goods in shipyards, contributing to market growth.
Within the forklift market, three
primary segments exist: end-user, power source, and type. The type segment further branches into subcategories,
encompassing class 1, class 2, class 3, and class 4 and 5 forklifts.
The companies in the market
include Kion Group AG, Mitsubishi Logisnext Co Ltd, Crown Equipment
Corporation, Hangcha Group Co Ltd, and Doosan Corporation.
Komatsu Ltd is a Tokyo-based company that manufactures and
distributes a wide range of construction, mining, utility, forestry, and
industrial equipment. With a global presence in Asia, the Americas, Europe, and
the Middle East and Africa, Komatsu serves its customers through an extensive
network of subsidiaries, independent dealers, and distributors. The company
also offers various industrial machinery, such as forging and punching presses,
sheet metal working machines, machine tools, defense systems, and temperature
control equipment.
Key deliverables of the report:
● Market CAGR during the forecasting years 2023-2030
● Detailed data highlighting key insights, industry components, and
market strategies
● Comprehensive information and estimation of the forklift truck
market revenue growth in the Middle East and Africa 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 Middle
East and Africa forklift truck market’s growth during the upcoming years
Want to
get specific insights? Our team of analysts can customize this report based on
your preferences. Connect with us here.
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VIEW REPORT1. MIDDLE
EAST AND AFRICA FORKLIFT TRUCK MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
ANALYSIS ON THE FORKLIFT TRUCK MARKET
2.1.1. COVID-19
IMPACT
2.2. PORTER’S
FIVE FORCES ANALYSIS
2.2.1. THREAT
OF NEW ENTRANTS
2.2.2. THREAT
OF SUBSTITUTES
2.2.3. BARGAINING
POWER OF BUYERS
2.2.4. BARGAINING
POWER OF SUPPLIERS
2.2.5. THREAT
OF COMPETITIVE RIVALRY
2.3. MARKET
MATURITY ANALYSIS
2.4. INDUSTRY
COMPONENTS
2.4.1. SUPPLIERS
2.4.2. MANUFACTURERS
2.4.3. DISTRIBUTORS
2.4.4. END-USER
2.5. KEY
BUYING IMPACT ANALYSIS
2.5.1. COST
2.5.2. ENGINE
TYPE
2.5.3. PAYLOAD
CAPACITIES
2.5.4. LIFT
HEIGHT
2.6. KEY
MARKET STRATEGIES
2.6.1. PRODUCT
LAUNCHES
2.6.2. BUSINESS
DIVESTITURES & EXPANSIONS
2.7. MARKET
DRIVERS
2.7.1. GROWING
DEMAND FROM E-COMMERCE SECTOR
2.7.2. TRANSITION
TOWARD AUTOMATION OF MANUFACTURING PLANTS
2.8. MARKET
CHALLENGES
2.8.1. STRINGENT
TRAINING AND EMISSIONS REGULATIONS
2.8.2. FLUCTUATING
PRICE OF RAW MATERIALS
2.9. MARKET
OPPORTUNITIES
2.9.1. RISING
DEMAND FOR ELECTRIC FORKLIFTS
2.9.2. INTRODUCTION
OF AUTONOMOUS VEHICLE TECHNOLOGY FOR MATERIAL HANDLING
2.10. ANALYST
PERSPECTIVE
3. MIDDLE
EAST AND AFRICA FORKLIFT TRUCK MARKET – BY POWER SOURCE
3.1. IC
ENGINE POWERED
3.2. ELECTRIC
POWERED
4. MIDDLE
EAST AND AFRICA FORKLIFT TRUCK MARKET – BY TYPE
4.1. CLASS
1
4.2. CLASS
2
4.3. CLASS
3
4.4. CLASS
4 & 5
5. MIDDLE
EAST AND AFRICA FORKLIFT TRUCK MARKET – BY END-USER
5.1. RETAIL
& E-COMMERCE
5.2. CONSTRUCTION
5.3. MANUFACTURING
5.4. OTHER
END-USERS
6. MIDDLE
EAST AND AFRICA FORKLIFT TRUCK MARKET – BY COUNTRY OUTLOOK
6.1. MIDDLE
EAST & AFRICA
6.1.1. COUNTRY
ANALYSIS
6.1.1.1. UNITED
ARAB EMIRATES
6.1.1.1.1. UNITED
ARAB EMIRATES FORKLIFT TRUCK MARKET FORECAST & PROSPECTS
6.1.1.2. SAUDI
ARABIA
6.1.1.2.1. SAUDI
ARABIA FORKLIFT TRUCK MARKET FORECAST & PROSPECTS
6.1.1.3. TURKEY
6.1.1.3.1. TURKEY
FORKLIFT TRUCK MARKET FORECAST & PROSPECTS
6.1.1.4. SOUTH
AFRICA
6.1.1.4.1. SOUTH
AFRICA FORKLIFT TRUCK MARKET FORECAST & PROSPECTS
6.1.1.5. REST
OF MIDDLE EAST & AFRICA
6.1.1.5.1. REST
OF MIDDLE EAST & AFRICA FORKLIFT TRUCK MARKET FORECAST & PROSPECTS
7. COMPETITIVE
LANDSCAPE
7.1. TOYOTA
INDUSTRIES CORPORATION
7.1.1. OVERVIEW
7.1.2. PORTFOLIO
7.1.3. KEY
STRENGTHS
7.1.4. KEY
CHALLENGE
7.2. KION
GROUP AG
7.2.1. OVERVIEW
7.2.2. PORTFOLIO
7.2.3. KEY
STRENGTH
7.2.4. KEY
CHALLENGE
7.3. HYSTER-YALE
MATERIALS HANDLING INC
7.3.1. OVERVIEW
7.3.2. PORTFOLIO
7.3.3. KEY
STRENGTH
7.3.4. KEY
CHALLENGE
7.4. KOMATSU
LTD
7.4.1. OVERVIEW
7.4.2. PORTFOLIO
7.4.3. KEY
STRENGTH
7.4.4. KEY
CHALLENGE
7.5. JUNGHEINRICH
AG
7.5.1. OVERVIEW
7.5.2. PORTFOLIO
7.5.3. KEY
STRENGTH
7.5.4. KEY
CHALLENGE
7.6. MITSUBISHI
LOGISNEXT CO LTD
7.6.1. OVERVIEW
7.6.2. PORTFOLIO
7.6.3. KEY
STRENGTH
7.6.4. KEY
CHALLENGE
7.7. HANGCHA
GROUP CO LTD
7.7.1. OVERVIEW
7.7.2. PORTFOLIO
7.7.3. KEY
STRENGTHS
7.7.4. KEY
CHALLENGE
7.8. DOOSAN
CORPORATION
7.8.1. OVERVIEW
7.8.2. PORTFOLIO
7.8.3. KEY
STRENGTH
7.8.4. KEY
CHALLENGE
7.9. CROWN
EQUIPMENT CORPORATION
7.9.1. OVERVIEW
7.9.2. PORTFOLIO
7.9.3. KEY
STRENGTH
7.9.4. KEY
CHALLENGE
7.10. CLARK
MATERIAL HANDLING COMPANY
7.10.1. OVERVIEW
7.10.2. PORTFOLIO
7.10.3. KEY
STRENGTH
7.10.4. KEY
CHALLENGE
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1: MIDDLE EAST AND AFRICA
FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 2: LIST OF PRODUCT LAUNCHES
TABLE 3: LIST OF BUSINESS
DIVESTITURES & EXPANSIONS
TABLE 4: MIDDLE EAST AND AFRICA
FORKLIFT TRUCK MARKET, BY POWER SOURCE, 2023-2030 (IN $ MILLION)
TABLE 5: MIDDLE EAST AND AFRICA
FORKLIFT TRUCK MARKET, BY TYPE, 2023-2030 (IN $ MILLION)
TABLE 6: MIDDLE EAST AND AFRICA
FORKLIFT TRUCK MARKET, BY END-USER, 2023-2030 (IN $ MILLION)
TABLE 7: MIDDLE EAST AND AFRICA
FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
FIGURE 1: MARKET MATURITY ANALYSIS
FIGURE 2: INDUSTRY COMPONENTS
FIGURE 3: KEY BUYING IMPACT ANALYSIS
FIGURE 4: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY POWER SOURCE,
2022 & 2030 (IN %)
FIGURE 5: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY IC ENGINE
POWERED, 2023-2030 (IN $ MILLION)
FIGURE 6: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY ELECTRIC
POWERED, 2023-2030 (IN $ MILLION)
FIGURE 7: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY TYPE, 2022
& 2030 (IN %)
FIGURE 8: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY CLASS 1,
2023-2030 (IN $ MILLION)
FIGURE 9: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY CLASS 2,
2023-2030 (IN $ MILLION)
FIGURE 10: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY CLASS 3,
2023-2030 (IN $ MILLION)
FIGURE 11: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY CLASS 4 &
5, 2023-2030 (IN $ MILLION)
FIGURE 12: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY END-USER,
2022 & 2030 (IN %)
FIGURE 13: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY RETAIL &
E-COMMERCE, 2023-2030 (IN $ MILLION)
FIGURE 14: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY CONSTRUCTION,
2023-2030 (IN $ MILLION)
FIGURE 15: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY MANUFACTURING,
2023-2030 (IN $ MILLION)
FIGURE 16: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY OTHER
END-USERS, 2023-2030 (IN $ MILLION)
FIGURE 17: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY COUNTRY
OUTLOOK, 2022 & 2030 (IN %)
FIGURE 18: UNITED ARAB EMIRATES FORKLIFT TRUCK MARKET 2023-2030 (IN $
MILLION)
FIGURE 19: SAUDI ARABIA FORKLIFT TRUCK MARKET 2023-2030 (IN $ MILLION)
FIGURE 20: TURKEY FORKLIFT TRUCK MARKET 2023-2030 (IN $ MILLION)
FIGURE 21: SOUTH AFRICA FORKLIFT TRUCK MARKET 2023-2030 (IN $ MILLION)
FIGURE 22: REST OF MIDDLE EAST & AFRICA FORKLIFT TRUCK MARKET
2023-2030 (IN $ MILLION)