Market by Product Type, Power Source, Class, End-user, and Country Outlook | Forecast 2022-2028
Triton’s research report indicates that the forklift truck market in the Middle East and Africa is expected to advance with a CAGR of 7.73% during the forecast period 2022-2028.
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The
countries studied in the region comprise:
•
The United Arab Emirates
•
Saudi Arabia
•
Turkey
•
South Africa
•
Rest of Middle East & Africa
In
the region, Saudi Arabia accumulates the majority of shares within the forklift
truck market. The region’s
growth is supported by factors such as the e-commerce industry’s expansion,
along with a rise in construction activities. Several governments are striving
to invest in the construction sector. This has elevated the demand for forklift
trucks to carry out routine operations, including loading and unloading,
handling heavy materials, and transporting materials. Hence, these developments
are likely to create affluent opportunities for the forklift truck market.
Several companies in Saudi Arabia are replacing
conventional forklift trucks with more energy-efficient ones. Besides this, the
rising demand for consumer products has surged the need for warehousing space
to store products. This has led to the adoption of advanced material handling
equipment to ensure smoothing distribution and storage of goods. Estimates
indicate that the nation is focusing heavily on developing cities, which will
further accelerate the adoption of forklift trucks. Hence, the aforementioned
factors are creating opportunities for the studied market.
Turkey’s strategic location bridges Europe with
the Middle East and Asia, making it a transport and logistics hub. As per
industry sources, the country’s logistics industry contributes roughly 10-15%
to the GDP. A changing retail landscape has increased the demand for transport,
logistics, and warehousing services. Thus, the expansion of the logistics
sector directly supports the forklift truck market’s development across Turkey.
In the logistics sector, forklift trucks are
widely used for material handling, retrieving, stacking, order picking, and
unloading. They are deployed for palletizing operations to arrange packaging in
order. In this regard, these trucks ensure high speed operations while reducing
overall operational costs. The market is
segmented into end-user, power source, product type, and class. The
end-user section includes logistics, automotive, manufacturing, retail &
wholesale, food industry, and other end-users.
Some
of the companies listed in the market report include EP Equipment Co Ltd,
Hyster-Yale Materials Handling Inc, Hyundai Heavy Industries Co Ltd, Komatsu
Ltd, and Lonking Holdings Limited.
EP Equipment Co Ltd designs and manufactures
warehouse equipment, such as forklifts, hand pallet trucks, and other material
handling equipment. The company has branches set up across multiple countries.
Its product line includes Max 3 IC forklift that is widely used in heavy-duty
industries, including construction, mine, manufacturing warehouses, and
distribution. EP has a global presence, including in the Middle East and
Africa.
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 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. KEY
INSIGHTS
2.1.1. FUEL
EFFICIENCY AND LOW CARBON EMISSIONS
2.1.2. COUNTERBALANCE
FORKLIFT HOLDS THE HIGHEST SHARE IN THE PRODUCT TYPE SEGMENT
2.2. IMPACT
OF COVID-19 ON THE FORKLIFT TRUCK MARKET
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. AVAILABILITY
OF FOSSIL FUELS IN LARGE QUANTITIES
2.9.3. WAREHOUSE
EXPANSIONS
2.9.4. THRIVING
E-COMMERCE INDUSTRY
2.10. MARKET
CHALLENGES
2.10.1. VOLATILE
COST OF RAW MATERIALS
2.10.2. POLITICAL
AND ECONOMIC UNCERTAINTY IN AFRICAN COUNTRIES
2.11. MARKET
OPPORTUNITIES
2.11.1. INCREASED GOVERNMENT
EXPENDITURE IN EMERGING ECONOMIES
2.11.2. RISING
INVESTMENTS IN AUTONOMOUS FORKLIFT TRUCKS
3. MIDDLE
EAST AND AFRICA FORKLIFT TRUCK MARKET OUTLOOK - BY PRODUCT TYPE
3.1. WAREHOUSE
FORKLIFT
3.2. COUNTERBALANCE
FORKLIFT
4. MIDDLE
EAST AND AFRICA FORKLIFT TRUCK MARKET OUTLOOK - BY POWER SOURCE
4.1. INTERNAL
COMBUSTION ENGINE
4.2. ELECTRIC
MOTOR
5. MIDDLE
EAST AND AFRICA 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. MIDDLE
EAST AND AFRICA 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. MIDDLE
EAST AND AFRICA FORKLIFT TRUCK MARKET – COUNTRY OUTLOOK
7.1. UNITED
ARAB EMIRATES
7.2. SAUDI
ARABIA
7.3. TURKEY
7.4. SOUTH
AFRICA
7.5. 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: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2022-2028
(IN $ MILLION)
TABLE
2: VENDOR SCORECARD
TABLE
3: REGULATORY FRAMEWORK
TABLE
4: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY PRODUCT TYPE, 2022-2028 (IN
$ MILLION)
TABLE
5: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET BY POWER SOURCE, 2022-2028 (IN
$ MILLION)
TABLE
6: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET BY CLASS, 2022-2028 (IN $
MILLION)
TABLE
7: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET BY END-USER, 2022-2028 (IN $
MILLION)
TABLE
8: MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2022-2028
(IN $ MILLION)
FIGURE 1: MARKET ATTRACTIVENESS
INDEX
FIGURE 2: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY PRODUCT TYPE, 2021 & 2028 (IN %)
FIGURE 3: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY WAREHOUSE FORKLIFT, 2022-2028 (IN $ MILLION)
FIGURE 4: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY COUNTERBALANCE FORKLIFT, 2022-2028 (IN $
MILLION)
FIGURE 5: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY POWER SOURCE, 2021 & 2028 (IN %)
FIGURE 6: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY INTERNAL COMBUSTION ENGINE, 2022-2028 (IN $
MILLION)
FIGURE 7: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY ELECTRIC MOTOR, 2022-2028 (IN $ MILLION)
FIGURE 8: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY CLASS, 2021 & 2028 (IN %)
FIGURE 9: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY CLASS 1, 2022-2028 (IN $ MILLION)
FIGURE 10: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY CLASS 2, 2022-2028 (IN $ MILLION)
FIGURE 11: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY CLASS 3, 2022-2028 (IN $ MILLION)
FIGURE 12: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY CLASS 4, 2022-2028 (IN $ MILLION)
FIGURE 13: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY CLASS 5, 2022-2028 (IN $ MILLION)
FIGURE 14: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY END-USER, 2021 & 2028 (IN %)
FIGURE 15: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY RETAIL & WHOLESALE, 2022-2028 (IN $
MILLION)
FIGURE 16: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY LOGISTICS, 2022-2028 (IN $ MILLION)
FIGURE 17: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY MANUFACTURING, 2022-2028 (IN $ MILLION)
FIGURE 18: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)
FIGURE 19: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY FOOD INDUSTRY, 2022-2028 (IN $ MILLION)
FIGURE 20: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, BY OTHER END-USERS, 2022-2028 (IN $ MILLION)
FIGURE 21: MIDDLE EAST AND
AFRICA FORKLIFT TRUCK MARKET, COUNTRY OUTLOOK, 2021 & 2028 (IN %)
FIGURE 22: UNITED ARAB
EMIRATES FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE 23: SAUDI ARABIA
FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE 24: TURKEY FORKLIFT
TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE 27: SOUTH AFRICA
FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)
FIGURE 28: REST OF MIDDLE EAST
& AFRICA FORKLIFT TRUCK MARKET 2022-2028 (IN $ MILLION)