FORKLIFT TRUCK MARKET ANALYSIS

Forklift truck Market, By Product (Warehouse, and Counterbalance), By Class: Class I (Electric Motor Rider Trucks, Class II: Electric Motor Narrow Aisle Trucks, Class III: Electric Motor Pedestrian Trucks, Class IV: Internal Combustion Engine Trucks (Solid/Cushion Tires), Class V: Internal Combustion Engine Trucks (Pneumatic Tires), Class VI: Electric and Internal Combustion Engine Tractors, and Class VII: Rough Terrain Forklift Trucks), By Fuel Type (Diesel, Gasoline & LPG/CNG, and Electric/Hybrid), By Engine Type (IC Engine Power, and Electric Power), By Lifting Capacity (<5 Ton, 5 Ton – 10 Ton, 11 Ton – 36 Ton, and > 36 Ton), By End-Use Industry (Retail & Wholesale, Transportation & Logistics, Automotive & Electrical Engineering, Food Industry, and Other Industries (Chemical, Timber, and Paper and Print Industry)), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : Jun 2023
Code : CMI928
Pages :150
Formats :
Excel and PDF
Industry : Automotive and Transportation

Regional Analysis

Global Forklift truck Market: Regional Insights

Among regions Asia Pacific is expected to gain major share in the global forklift truck market over the forecast period. This can be attributed to high demand for forklift trucks from emerging economies such as China, Japan, and India. The rise in industrialization is one of the major factor which is expected to drive the growth of global forklift trucks market. Increasing expansion of e-commerce sector across China, Japan, and India are likely to witness major demand for forklift trucks during the forecast period.

Furthermore, Europe is also anticipated to exhibit major growth in the global forklift truck market over the forecast period. This is attributed to the increasing product launch in European market. For instance, in January 2022, VisionNav Robotics, a global supplier of autonomous industrial vehicles and intralogistics automation solutions, had launched fully automated, vision-guided forklift trucks and intelligent operating systems to the European market. Thus, Europe is likely to show strong growth in the market over the forecast future.

Figure 1: Global Forklift truck Market Share (%), By Region, 2022

Geographies covered

North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa