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Forklift Trucks Market 2019 Significant Growth Rate by Industry Size, Share, Market Dynamics, Development Status of Key Players Forecast to 2024


The “Forklift Trucks Market” research report 2019-2024 delivers comprehensive information and valuable insights about the Forklift Trucks industry. The information available in the Forklift Trucks market report is not only based on the facts but also on the case studies, which analysts have included to convey appropriate information to the clients in a well-versed manner. Forklift Trucks market report includes valuable information to assist new entrants, as well as established players, to understand the prevailing trends in the market.

Some Companies Are Covered in the Forklift Trucks Market:

  • Toyota Industries Corporation
  • KION Group
  • Jungheinrich AG
  • Crown Equipment Corp.
  • Hyster
  • Yale Materials Handling Inc.
  • Komatsu Ltd
  • Mitsubishi Nichiyu Forklift Co.
  • Doosan Industrial Vehicles Co. Ltd
  • Hyundai Heavy Industries Co. Ltd
  • Combilift Ltd
  • Godrej and Boyce Manufacturing Co. Ltd
  • Clark Material Handling Company Inc.

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    Market Overview:

  • The forklift trucks market is expected to register a CAGR of over 6% during the forecast period (2019 – 2024). Forklift trucks are one of the most common material-handling equipment in the market. Although, there are a large number of automated solutions arriving in the market, the demand for manual internal combustion (IC) and electric forklifts have not dwindled.
  • – The increasing demand from the European and the Asia-Pacific regions are expected to further increase the sale of these units over the forecast period. While the tremendous demand from the retail industry, especially from the e-commerce sector, is driving the forklift truck market headlong, the advent of automated guided vehicles (close substitutes to forklift trucks) pose a significant challenge to the market.
  • – However, the uneven weight distribution is due to a more massive rear section to compensate for the loads being carried in the front, which is increasing the chance of tipping over during tight turns.
  • – It is evident that the energy-consumption costs of an electric forklift is comparatively less. Furthermore, advantages like zero emission, zero noise pollution, and the ability to virtually perform every task that an IC forklift can do, is increasingly approving electric forklift trucks to gain more market share every year.

    Scope of the Report:

  • A forklift is a powered industrial truck, having two power-operated horizontal prongs that can be raised and lowered for loading, transporting, unloading goods and moving materials over short distances. Forklift trucks can be classified under power source in two different ways, namely internal combustion engine and electric motor. The increasing demand in various industries, such as transportation and logistics, retail sector, general manufacturing, construction, food, and beverage industry is penetrating the forklift market.

    Reasons for Buying Forklift Trucks Market Report:

    • This report provides pin-point analysis for changing competitive dynamics
    • It provides a forward looking perspective on different factors driving or restraining market growth
    • It provides a five-year forecast assessed on the basis of how the market is predicted to grow
    • It helps in understanding the key product segments and their future
    • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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    Key Market Trends:

    Electric Forklift Trucks to Hold the Largest Share

    – In the past few years, electric/battery-powered forklifts have taken a stronghold in the material handling environment. The limitations and drawbacks that once made electric forklifts inefficient and impractical have been put to rest by advancing technologies and proven performance.
    – Many industrial companies are switching to electric forklifts, because energy-efficient, environmentally friendly machines can do virtually anything emission producing IC forklifts do. Electric forklifts are a realistic alternative to liquid-fueled lift trucks and are more economical to operate, equally powerful, easier to maintain, safer, quieter, and cleaner.
    – Although the rates of electric forklift depend upon location, it is clear that energy-consumption costs for an electric forklift are far less. Therefore, governments across various countries have been supporting the electric forklifts growth.
    – For instance, the Chicago government regulations are pushing materials handling companies to innovate. Owing to this, Hyster Yale introduced two new products of its research and development initiatives, showcasing the company’s first counterbalanced electrical forklift truck with a factory-integrated lithium-ion battery pack.
    – With several other advantages, like zero emission, low noise, better visibility, and the knack to virtually perform every task that an IC forklift can do is increasingly consenting electric forklift trucks to gain more market share every and is expected to be the fastest growing forklift type over the forecast period.

    North America to Account for the Largest Portion of the Forklift Demand

    – According to the estimates of Clark Material Handling Company, US, the industry contributed over USD 25 billion annually to the US GDP, supporting more than 200,000 US jobs annually. As this aligns with the interests of the current US government, to create jobs for US citizens, the sales of this equipment are expected to witness considerable growth in the region over the forecast period, making North America one of the fastest growing regions for the forklift trucks market.
    – For instance, in 2019, Toyota Material Handling North America (TMHNA) selected four research proposals to provide the industry with solutions that are smarter, more efficient in terms of new technology and innovative approaches which can help the industry for material handling, warehouse, supply chain, logistics.
    – However, the region has witnessed the slowest growth owing to increased penetration as compared to other countries. According to the Material Handling and Logistics Organization, just more than a quarter million units of forklifts were sold in North America, in 2017.

    Forklift Trucks Market Report Provides Comprehensive Analysis of:

    • Functional market industry outline
    • Up and downstream industry examination
    • Channels and propositions believability
    • Market challenge by key players
    • Enhancement suggestions examination

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    Report Highlights:

    • Market Dynamics – Drivers, Restraints, and Opportunities
    • Market Segmentation – Types, Applications, Regions, and Technology
    • Market Trends
    • Competitive Landscape
    • SWOT Analysis and Porter’s Five Forces Analysis

    Detailed TOC of Forklift Trucks Market Report 2019-2024:

    1.1 Scope of the Study



    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Rapidly Growing Warehouse Establishments
    4.2.2 Increasing Commercials Space Prices
    4.3 Market Restraints
    4.3.1 Rising Safety Issues Related to Forklifts
    4.4 Industry Attractiveness – Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5.1 By Power Source
    5.1.1 Internal Combustion Engine
    5.1.2 Electric Motor
    5.2 By Class
    5.2.1 Class I
    5.2.2 Class II
    5.2.3 Class III
    5.2.4 Class IV
    5.2.5 Class V
    5.3 By End-user Vertical
    5.3.1 Transportation and Logistics
    5.3.2 Retail Industry
    5.3.3 General Manufacturing
    5.3.4 Construction
    5.3.5 Food and Beverage Industry
    5.3.6 Other End-user Verticals
    5.4 Geography
    5.4.1 North America
    5.4.2 Europe
    5.4.3 Asia-Pacific
    5.4.4 Latin America
    5.4.5 Middle East & Africa

    6.1 Vendor Market Share
    6.2 Company Profiles
    6.2.1 Toyota Industries Corporation
    6.2.2 KION Group
    6.2.3 Jungheinrich AG
    6.2.4 Crown Equipment Corp.
    6.2.5 Hyster-Yale Materials Handling Inc.
    6.2.6 Komatsu Ltd
    6.2.7 Mitsubishi Nichiyu Forklift Co.
    6.2.8 Doosan Industrial Vehicles Co. Ltd
    6.2.9 Hyundai Heavy Industries Co. Ltd
    6.2.10 Combilift Ltd
    6.2.11 Godrej and Boyce Manufacturing Co. Ltd
    6.2.12 Clark Material Handling Company Inc.




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