Forklift Market by Application, Fuel, Region – 2021

The global Forklift Market is projected to grow at a CAGR of 1.93%, from USD 16.00 billion in 2016 to USD 17.61 billion by 2021. The base year for the report is 2015 and the forecast year is 2021.The global forklift market is driven by the less than 5-ton capacity forklifts which accounts for major market share in terms of volume. The less than 5-ton capacity majorly includes battery-electric forklifts as well as Internal Combustion Engine (ICE) forklifts but the battery-electric forklifts penetration in this segment is highest.

The following are the major objectives of the study.

• To define and segment the global forklift market
• To provide a detailed analysis of various forces acting in the global forklift market (drivers, restraints, opportunities, and challenges).
• To analyze the regional markets for growth trends, future prospects, and their contribution to the overall market.
• To analyze and forecast (2016 to 2021) the market size, in terms of volume (‘000 units) and value (USD million), of the global forklift market.
• To segment the market and forecast its size, by region, by class, by tonnage, by application and by fuel based on region—namely, the Americas, Europe, Asia-Pacific and the Rest of the World (RoW). which covers Africa and Oceania.
• To segment the global forklift market and forecast the market size, by volume and value, based on class, tonnage capacity, application and fuel type and region.
• To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry participants.

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Various secondary sources, such as company annual reports/presentations, press releases, industry association publications, forklift magazine articles, encyclopaedias, directories, technical handbooks, world economic outlook, trade websites, technical articles, and databases have been used to identify and collect information useful for an extensive study of the global forklift market. The primary sources-experts from related industries, forklift manufacturers, and forklift suppliers–have been interviewed to obtain and verify critical information, as well as to assess prospects and market estimations. Bottom-up and top-down, both the approaches have been used for market estimation and calculating the global forklift market size.

Critical questions which the report answers
• Which new market players are disrupting the market and what percentage of share are they catering?
• Where will all these developments take the industry in the mid to long term?

The global forklift market is dominated by many international as well as domestic players, and some of them are Toyota Industrial Corporation (Japan), KION Group AG (Germany), Hyster-Yale Material Handling Inc. (U.S.) and Mitsubishi Nichiyu Forklift Co., Ltd. (Japan).

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This release was published on openPR.