FORKLIFT TRUCK MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2025-2032)

Forklift trucks are mainly used for material handling, lifting & stacking of discrete loads throughout facilities such as retail warehouses. These vehicles can be used with a variety of attachments such as clamps, grippers, and platforms to move and handle different types of materials and loads. Expansion of the logistics industry and economic growth in emerging economies have led to increasing logistics volume, which, in turn is boosting growth of the forklift trucks market.

Market Dynamics

Growing e-commerce & warehousing industries is driving growth of the global forklift truck market. According to coherent market insights almost 90% of the warehousing space is controlled by the unorganized players. It has huge growth potential and is slated to become regularized over the next few years.

However, high cost of battery operated and fuel-cell forklifts, coupled with growing environmental concerns regarding the use of IC-engine type forklift trucks are expected to hinder growth of the global forklift truck market over the forecast period.

Key features of the study

• This report provides in-depth analysis of the global forklift truck market, and provides market size (USD Mn) and compound annual growth rate (CAGR%) for the forecast period 2025-2032, considering 2024 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global forklift truck market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Toyota Industries Corporation Group, Kion Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Crown Equipment Corporation, Mitsubishi Nichiyu Forklift Co., Ltd., UniCarriers Americas Corporation, Anhui Heli Company Limited, Komatsu Ltd., Clark Material Handling Company, Doosan Industrial Vehicle, Hangcha Group Co. Ltd., JBT Corporation, Combilift Ltd., Godrej & Boyce Mfg. Co. Ltd, Linde Material Handling.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global forklift truck market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Forklift Truck market.

Market Segmentation

• Global Forklift Truck Market, By Product Type
  • Industrial Reach Forklift Trucks
  • Industrial Counterbalance Forklifts
  • All-terrain Forklifts
  • Industrial Side Loader Forklifts
  • Telescopic Handler Forklifts
  • Pedestrian Operated Pallet Trucks
• Global Forklift Truck Market, By Class
  • Class I
  • Class II
  • Class III
  • Class IV
  • Class V
  • Class VI
  • Class VII
• Global Forklift Truck Market, By Propulsion
  • IC Engine Power
  • Electric Power
  • Hydrogen Fuel Cell
• Global Forklift Truck Market, By Lifting Capacity
  • Below 5 Ton
  • 5 – 10 tons
  • Above 10 tons
• Global Forklift Truck Market, By End-use Industry
  • Construction Sites
  • Warehouse and Distribution Centers
  • Factories (manufacturing and Process Industry)
  • Dockyards
• Global Forklift Truck Market, By Region
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Companies Insights
  • Anhui Heli
  • Caterpillar Inc.
  • Clark Material Handling Company Inc.
  • Crown Equipment Corp.
  • Doosan Industrial Vehicles Co. Ltd.
  • Hangcha Group Co.
  • Hyster-Yale Materials Handling Inc.
  • Jungheinrich AG
  • KION Group
  • Mitsubishi Forklift Trucks
  • Toyota Industries Corporation
  • Others