MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET 2023-2030

Building & Construction | Construction Materials

MIDDLE EAST AND AFRICA FORKLIFT TRUCK MARKET 2023-2030

Market by Power Source, Type, End-user, and Country Outlook | Forecast 2023-2030

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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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Table of Content

1. 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

List of Tables

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)

List of Figures

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)

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