Global Forklift Truck Market Top Key Players | Kion Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Inc

Persistence Market Research (PMR), delivers key insights on the forklift truck market in its latest report titled “Global Market Study on Forklift Trucks: Asia-Pacific to Witness Highest Growth by 2021” According to the report, the global forklift trucks market was valued at US$ 35.3 Bn in 2014 and is projected to expand at a CAGR of 6.9% during the forecast period to reach US$ 55.9 Bn by the end of 2021.

Key driving factors identified in the global forklift truck market include expansion of warehouse space globally, growing e-commerce business across the globe, strong demand for forklift truck replacement in developed markets, and bulk investments in purchase of low-cost forklift trucks in emerging markets.

Request for Report Sample@ https://www.persistencemarketresearch.com/samples/3552

Assessing the various factors driving the market growth, PMR analyst opined, “The global material handling equipment market is growing significantly at an annual growth rate of 3%–7%. Electric type forklift truck is one of the prominent segments in this market. These trucks are gaining traction due to the implementation of various advanced technologies and their growing application across various industries worldwide.” The China market is projected to exhibit the fastest growth over the forecast period due to various factors, such as favorable economic environment and a need for technological advancements in in-house logistics in the country.

From a regional perspective, Asia-Pacific was the largest market for forklift trucks in 2014, accounting for approximately 41.4% volume share of the overall market. Europe is projected to account for the second largest volume share of the global forklift truck market and expand at a CAGR of 4.6% over the forecast period, due to the positive outlook of the economy in Western Europe and expected rise in trade of goods, in turn leading to a significant growth in demand for forklift trucks in the region in the near future.

Electric-powered forklift trucks are gaining popularity in developed nations

With the rapid advancement in technology, there is a lot of potential for electric-powered forklift trucks due to their growing applications and popularity. Such type of electric powered forklift trucks are ideal for use in the indoor spaces, and they can load and unload heavy goods from the ground level or from the docks. A major advantage of using electric powered forklift trucks is that there is no need to store fuel for them at their place of operation.

However, in the emerging economies, there is still preference for IC-engine forklift trucks. In addition, forklift trucks that are powered on alternative sources of energy such as hydrogen are also gaining traction in the global forklift truck market.

Request for Report Table of Content (TOC) @ https://www.persistencemarketresearch.com/methodology/3552

Key market participants covered in the report include Kion Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Toyota Industries Corporation (TICO), Mitsubishi Nichiyu Forklift Co., Ltd., Crown Equipment Corporation, Anhui HeLi Co., Ltd., CLARK Material Handling Co., Ltd., and UniCarriers Americas Corporation.

ABOUT US:
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

CONTACT:
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.