NORTH AMERICA FORKLIFT TRUCK MARKET 2022-2028

Building & Construction | Construction Materials

NORTH AMERICA FORKLIFT TRUCK MARKET 2022-2028

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

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According to Triton’s research report, the forklift truck market in North America is expected to register a compound annual growth rate of 7.54% during the forecast years from 2022 to 2028.


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The countries evaluated in the region consist of:

•         The United States

•         Canada

The United States holds the largest market for forklift trucks in the region. The sale of forklift trucks is growing remarkably due to the increasing demand in warehousing, automotive, retail, and other sectors. Over the forecast period, the growth in the manufacturing industry, exports, and infrastructure developments are expected to elevate the demand for forklift trucks. Another trend is the expanding e-commerce sector, which has influenced players to introduce new products to support warehouse operations. Therefore, these factors are propelling the forklift market on a growth path.

The United States is among the largest and most advanced markets for automated material handling solutions globally. The significant development of manufacturing and e-commerce activity has resulted in the high adoption of forklift trucks. Estimates suggest that the country is leading in terms of manufacturing competitiveness and is anticipated to continue its stronghold over the upcoming years. Therefore, the demand for forklift trucks is expected to increase due to their ability to reduce manual labor while increasing the efficiency of the manufacturing process.

Warehouse forklifts are widely used for lifting, transporting, and handling goods in warehouses. In this regard, range trucks are commonly used due to their suitability for indoor operations and lift height capacity. Moreover, these trucks have stabilized batteries that negate the need for counterbalance weight. The market is segmented in terms of product type, power source, end-user, and class. The product type category is bifurcated into warehouse and counterbalance forklifts.

The key companies in the studied market consist of Kion Group AG, Hangcha Group Co Ltd, Anhui Heli Co Ltd, Clark Material Handling Company, and Crown Equipment Corporation.

Crown Equipment Corporation is a global manufacturer of material handling products. Its product line includes forklifts, automation, fleet management technologies, manufacturing, and warehousing services. It primarily delivers products that are cost effective and applicable in warehouse logistics. Crown Equipment serves clients globally, with headquarters in New Bremen, the United States.


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 North America 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 NA 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. NORTH AMERICA 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. RISING INVESTMENTS IN AUTONOMOUS FORKLIFT TRUCKS

2.11.2. GOVERNMENT STEPS TO PROMOTE ELECTRIC VEHICLES

3. NORTH AMERICA FORKLIFT TRUCK MARKET OUTLOOK - BY PRODUCT TYPE

3.1. WAREHOUSE FORKLIFT

3.2. COUNTERBALANCE FORKLIFT

4. NORTH AMERICA FORKLIFT TRUCK MARKET OUTLOOK - BY POWER SOURCE

4.1. INTERNAL COMBUSTION ENGINE

4.2. ELECTRIC MOTOR

5. NORTH AMERICA 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. NORTH AMERICA 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. NORTH AMERICA FORKLIFT TRUCK MARKET – COUNTRY OUTLOOK

7.1. UNITED STATES

7.2. CANADA

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: NORTH AMERICA FORKLIFT TRUCK MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD

TABLE 3: REGULATORY FRAMEWORK

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

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

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

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

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

List of Figures

FIGURE 1: MARKET ATTRACTIVENESS INDEX

FIGURE 2: NORTH AMERICA FORKLIFT TRUCK MARKET, BY PRODUCT TYPE, 2021 & 2028 (IN %)

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

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

FIGURE 5: NORTH AMERICA FORKLIFT TRUCK MARKET, BY POWER SOURCE, 2021 & 2028 (IN %)

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

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

FIGURE 8: NORTH AMERICA FORKLIFT TRUCK MARKET, BY CLASS, 2021 & 2028 (IN %)

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

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

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

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

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

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

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

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

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

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

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

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

FIGURE 21: NORTH AMERICA FORKLIFT TRUCK MARKET, BY COUNTRY 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)

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