Forklifts - Global Strategic Business Report

The global market for Forklifts was valued at US$46.5 Billion in 2024 and is projected to reach US$64.8 Billion by 2030, growing at a CAGR of 5.7% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Forklifts Market - Key Trends and Drivers Summarized

Forklifts are industrial trucks used to lift, move, and transport materials over short distances. They are essential equipment in various industries, including warehousing, manufacturing, logistics, and construction, where they facilitate the efficient handling of heavy loads. Forklifts come in different types and configurations, including counterbalance forklifts, reach trucks, pallet jacks, and rough terrain forklifts, each designed for specific tasks and operating environments. These versatile machines are powered by various energy sources, such as internal combustion engines (diesel, gasoline, or propane) and electric batteries, allowing them to meet diverse operational needs.

The forklift industry has experienced significant advancements driven by technological innovations and evolving market demands. Modern forklifts are equipped with advanced features such as automated control systems, enhanced safety mechanisms, and improved ergonomics to boost productivity and ensure operator safety. The development of electric forklifts has been particularly noteworthy, as they offer lower operating costs, reduced emissions, and quieter operation compared to their internal combustion counterparts. Additionally, the integration of telematics and IoT (Internet of Things) technologies in forklifts allows for real-time monitoring and data analysis, optimizing fleet management and maintenance schedules.

The growth in the forklift market is driven by several factors. The rapid expansion of the e-commerce industry has significantly increased the demand for efficient material handling equipment in warehouses and distribution centers. Technological advancements, including the development of more efficient and environmentally friendly electric forklifts, have led to their widespread adoption across various sectors. The increasing focus on workplace safety and regulatory compliance has also spurred demand for advanced forklifts equipped with safety features such as stability control, collision avoidance systems, and ergonomic designs. Additionally, the growing trend towards automation and smart logistics solutions has further propelled the market, as businesses seek to enhance operational efficiency and reduce labor costs. Consumer behavior trends, such as the preference for faster delivery times and the rise of omni-channel retailing, contribute to the robust demand for forklifts.

Scope of the Study

The report analyzes the Forklifts market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments:

Power Source (Internal Combustion Engine (ICE), Electric); End-Use (Retail & Wholesale, Logistics, Food & Beverage, Automotive, Other End-Uses).

Geographic Regions/Countries:

World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Internal Combustion Engine (ICE) Forklifts segment, which is expected to reach US$42.9 Billion by 2030 with a CAGR of a 5.4%. The Electric Forklifts segment is also set to grow at 6.4% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $12.2 Billion in 2024, and China, forecasted to grow at an impressive 6.9% CAGR to reach $11.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as Aisle-Master, Anhui HeLi Co., Ltd., ATF Forklifts, Big Lift LLC, Cargotec Finland Oy - Kalmar and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Forklifts Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Forklifts Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Forklifts Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Some of the 81 major companies featured in this Forklifts market report include:

• Aisle-Master
• Anhui HeLi Co., Ltd.
• ATF Forklifts
• Big Lift LLC
• Cargotec Finland Oy - Kalmar
• CESAB Material Handling Europe
• Clark Material Handling Company
• Combilift Ltd.
• Corecon Inc.
• Crown Equipment Corporation
• CVS ferrari S.P.A
• EP Equipment Co., Ltd.
• The Raymond Corporation