SAUDI ARABIA FORKLIFT TRUCK MARKET 2022-2028

Building & Construction | Construction Materials

SAUDI ARABIA FORKLIFT TRUCK MARKET 2022-2028

Market by Type, Power Source, and End-user | Forecast 2022-2028

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According to Triton Market Research’s report, the Saudi Arabia forklift truck market is expected to advance with a CAGR of 4.62% during the forecast period 2022-2028. The market obtained $915.63 million in 2021 and is likely to gain revenue worth $1282.70 million by 2028.

Further, in terms of volume, the Saudi Arabia forklift truck market is to rise with a CAGR of 4.48% during the forecast period 2022-2028. The market totaled 5860 units in 2021 and is expected to reach 8080 units by 2028.

Forklifts are industrial lifting trucks that move materials from one place to another. They are deployed at warehouses, ports, logistics, etc., carrying the load at a specific maximum weight and forward center of gravity. As a result, companies are launching a new range of forklifts with powerful engines, increased lifting capacity, and comfort.

The market’s growth is highly supported by the rise in infrastructure projects, the growing e-commerce industry, and warehouse expansions. Saudi Arabia’s construction industry is the largest in the Gulf Cooperation Council (GCC). According to the Kingdom of Saudi Arabia, more than 6 Giga projects worth $7 trillion are underway or planned for completion by the end of 2030. The projects include the development of smart cities and projects such as the NEOM City, Aseer Development Project, Qiddiya, Red Sea Development Company, AMAALA etc. These projects drive the demand for forklift trucks in the country. 

However, the volatile price of raw materials restricts the market’s growth. There are a limited number of suppliers that OEMs rely on for components employed in forklift trucks, such as semiconductors, sensors, and actuators. Also, Saudi Arabia is highly dependent on machinery and technological exports from other countries, which may hamper the forklift truck market across the nation.

Triton Market Research’s report provides in-depth insight into the Saudi Arabia forklift truck market. The detailed market analysis includes Porter’s five forces analysis, market concentration, cost structure benchmarking, value chain analysis, regulatory framework, key market strategies, key buying criteria, and market opportunities. The segmentation analysis of the Saudi Arabia forklift truck market includes the market by type, power source, and end-user.

The key players involved in the Saudi Arabia Forklift Truck market are Mitsubishi Logisnext Co Ltd, Toyota Industries Corporation, Doosan Group, Lonking Holdings Limited, Hyster-Yale Materials Handling Inc, Caterpillar Inc, Hyundai Heavy Industries Co Ltd, Jungheinrich AG, and Kion Group AG.

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Table of Content

1. SAUDI ARABIA FORKLIFT TRUCKS MARKET – SUMMARY

1.1. MARKET OVERVIEW

1.2. MARKET SIZE & FORECASTS

1.3. MARKET DRIVING ASPECTS

1.4. MARKET RESTRAINING ASPECTS

2. SAUDI ARABIA FORKLIFT TRUCKS INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON THE SAUDI ARABIA FORKLIFT TRUCKS MARKET

2.2. PORTER’S FIVE FORCES ANALYSIS

2.3. MARKET CONCENTRATION    

2.4. COST STRUCTURE BENCHMARKING

2.5. DRIVERS FOR CHINESE BRANDS     

2.6. VALUE CHAIN ANALYSIS        

2.7. REGULATORY FRAMEWORK  

2.8. KEY MARKET STRATEGIES

2.9. KEY BUYING CRITERIA

2.10. MARKET OPPORTUNITIES

3. SAUDI ARABIA FORKLIFT TRUCKS MARKET - BY TYPE (IN $ MILLION)    

3.1. CLASS 1    

3.2. CLASS 2              

3.3. CLASS 3    

3.4. CLASS 4 & 5        

4. SAUDI ARABIA FORKLIFT TRUCKS MARKET - BY POWER SOURCE (IN $ MILLION)

4.1. IC ENGINE-POWERED

4.2. ELECTRIC-POWERED

5. SAUDI ARABIA FORKLIFT TRUCKS MARKET - BY END-USER (IN $ MILLION)

5.1. RETAIL & E-COMMERCE         

5.2. CONSTRUCTION 

5.3. MANUFACTURING         

5.4. OTHER END-USERS                

6. COMPETITIVE LANDSCAPE

6.1. HYSTER-YALE MATERIALS HANDLING INC

6.1.1. OVERVIEW  

6.1.2. PRODUCT PORTFOLIO   

6.1.3. KEY STRENGTHS  

6.1.4. KEY CHALLENGES

6.2. HYUNDAI HEAVY INDUSTRIES CO LTD      

6.2.1. OVERVIEW  

6.2.2. PRODUCT PORTFOLIO   

6.2.3. KEY STRENGTHS  

6.2.4. KEY CHALLENGES

6.3. JUNGHEINRICH AG       

6.3.1. OVERVIEW  

6.3.2. PRODUCT PORTFOLIO   

6.3.3. KEY STRENGTHS  

6.3.4. KEY CHALLENGES

6.4. LONKING HOLDINGS LIMITED

6.4.1. OVERVIEW  

6.4.2. PRODUCT PORTFOLIO   

6.4.3. KEY STRENGTHS  

6.4.4. KEY CHALLENGES

6.5. MITSUBISHI LOGISNEXT CO LTD

6.5.1. OVERVIEW  

6.5.2. PRODUCT PORTFOLIO   

6.5.3. KEY STRENGTHS  

6.5.4. KEY CHALLENGES

6.6. TOYOTA INDUSTRIES CORPORATION       

6.6.1. OVERVIEW  

6.6.2. PRODUCT PORTFOLIO   

6.6.3. KEY STRENGTHS  

6.6.4. KEY CHALLENGES          

6.7. KION GROUP AG      

6.7.1. OVERVIEW  

6.7.2. PRODUCT PORTFOLIO   

6.7.3. KEY STRENGTHS  

6.7.4. KEY CHALLENGES          

6.8. DOOSAN GROUP         

6.8.1. OVERVIEW  

6.8.2. PRODUCT PORTFOLIO   

6.8.3. KEY STRENGTHS  

6.8.4. KEY CHALLENGES

6.9. CATERPILLAR INC        

6.9.1. OVERVIEW  

6.9.2. PRODUCT PORTFOLIO   

6.9.3. KEY STRENGTHS  

6.9.4. KEY CHALLENGES

List of Tables

TABLE 1: SAUDI ARABIA FORKLIFT TRUCKS MARKET 2022-2028 (IN $ MILLION)

TABLE 2: SAUDI ARABIA FORKLIFT TRUCKS MARKET 2022-2028 (IN UNITS)

TABLE 3: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY TYPE, 2022-2028 (IN $ MILLION)

TABLE 4: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY POWER SOURCE, 2022-2028 (IN $ MILLION)

TABLE 5: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY END-USER, 2022-2028 (IN $ MILLION)

List of Figures

FIGURE 1: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY TYPE, 2021 & 2028 (IN %)

FIGURE 2: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY CLASS 1, 2022-2028 (IN $ MILLION)

FIGURE 3: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY CLASS 2, 2022-2028 (IN $ MILLION)

FIGURE 4: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY CLASS 3, 2022-2028 (IN $ MILLION)

FIGURE 5: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY CLASS 4 & 5, 2022-2028 (IN $ MILLION)

FIGURE 6: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY POWER SOURCE, 2021 & 2028 (IN %)

FIGURE 7: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY IC ENGINE-POWERED, 2022-2028 (IN $ MILLION)

FIGURE 8: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY ELECTRIC-POWERED, 2022-2028 (IN $ MILLION)

FIGURE 9: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY END-USER, 2021 & 2028 (IN %)

FIGURE 10: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY RETAIL & E-COMMERCE, 2022-2028 (IN $ MILLION)

FIGURE 11: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY CONSTRUCTION, 2022-2028 (IN $ MILLION)

FIGURE 12: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY MANUFACTURING, 2022-2028 (IN $ MILLION)

FIGURE 13: SAUDI ARABIA FORKLIFT TRUCKS MARKET, BY OTHER END-USERS, 2022-2028 (IN $ MILLION)

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