Automotive Catalytic Converter Devices Market Global Review 2018 to 2027 : Hyster-Yale Material handling Inc., Toyota Industries Corporation, Jungheinrich group

Replacement Market Getting Mainstreamed for Lift Trucks and OEMs Emphasized on Raising After-Sales Service Standards

Future demand for lift trucks is likely to remain under the influence of changing international trade dynamics, expansion of warehousing industry, transformations in logistics and supply chain management, as well as improved equipment efficiency. Further, owing to industrial expansion and emergence of new SMEs, warehousing industry has flourished in past decades. Loading- unloading, transportation, and distribution are common activities that leverage different types of lift trucks routinely. In addition, manufacturers are introducing smart lift trucks with increased efficiency and productivity.

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More than 6 million Lift Trucks Likely to Sold over Next Five Years

As one of the important industrial vehicles, lift trucks are widely used material handling equipment. Use case based products, variety of attachments and customization according to application, make the lift trucks highly preferred material handling equipment. The global lift truck market on the backdrop of stronger manufacturing sector performance is projected to register a year on year growth of over 5% till 2026, surpassing US$ 75 Bn in size.

According to the Occupational Safety and Health Association (OSHA), powered industrial lift trucks are classified into seven classes that include lift trucks with power supply from electric motors or internal combustion engines. Further, each class includes different types of lift trucks such as counterbalance trucks, reach trucks, order pickers, narrow aisle trucks, pallet trucks, loader trucks are some of the most preferred ones.

E-Commerce Operators Outshine Traditional End Markets for New Sales

Lift trucks find application in every industry that manages transports, stores, and distributes manufactured products. Few of the prominent influencing factors impacting growth of the global lift truck market are discussed below.

Changing International Trade

With the aim to spread innovation, boost productivity and foster economic growth, international trade has witnessed implementation of several novel business strategies. After the downfall in 2016 and 2017, participation from the developing economies and changing trade policies will influence growth of international trade during the forecast. Being an important entity of the import-export activities, lift trucks market is likely to witness challenges of changing international trade.

Growing Warehousing Industry

With the emerging SMEs and dramatic expansion of e-commerce, warehouse constructions have become a common adjunct in every small or large manufacturing or distribution plants. As loading-unloading activities are common in warehouses, lift trucks are highly sought after vehicles in these facilities.

Product Innovation

Manufacturers consistently strive to introduce smarter, safer, ergonomic, fuel efficient, and highly productive lift trucks to win over increasing competition in the global market.

ELOKON, a European lift truck leader recently featured its automatic mobile personnel protection system for very narrow aisle (VNA) lift trucks at Modex 2018 in the U.S.
Plug Power Inc. has recently introduced the improved and more efficient fuel cells called the GenDrive 2440-36R for its class 2 electric forklift trucks.
Toyota Forklifts, based in Columbus Ind. has recently introduced a new line of heavy-duty lift trucks with adjustable wheelbase, cushion tire forklift and weight capacity of up to 80,000 pounds.
NexSys Technologies has launched a new NexSys TPPL batteries that are designed for class I, II, and III applications including high-capacity trucks. Thin Plate Pure Technology (TPPL) allows fast charging within an hour and lasts up to 16 hours.

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Industry automation is another important trend shaping the production of automated or robotic lift trucks. Vendors such as Hyster Robotics, Fetch Robotics, OTTO Motors, Seegrid, and Vecna Robotics are providing autonomous mobile self-driving lift trucks.

Key Stakeholders

Key players in the global lift trucks market include Hyster-Yale Material handling Inc., Toyota Industries Corporation, Jungheinrich group, KION Group AG, and Mitsubishi Nichiyu Forklift Corporation.

A global logistic leader, Woodland Group has recently added 12 new lift trucks of Jungheinrich to the fleet at its Coventry distribution center.
H&K Equipment, a Pittsburgh-based material handling equipment company has announced complete authorization of Taylor Machine Works dealership for Western Pennsylvania, the Northern Panhandle of West Virginia, Eastern Ohio, and Garrett and Allegany counties in Maryland. Taylor Machine Works manufactures heavy-duty trucks, lift trucks and container handlers.
Toyota Material Handling UK has recently announced sponsorship of the National Forklift Safety Convention 2018, organized by the Forklift Truck Association.

Details associated with all the highlighted trends are included in the report which provides financial community with a clear outlook of the global lift truck market.

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This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on

Market Dynamics
Market Size
Market Segments
Demand & Supply Trends
Current Issues and Challenges
Companies and Competitor Landscape
Value Chain
Technology

Regional Segments Analyzed Include

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa)

Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.

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