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Electric Forklift Market - Big Changes to Have Big Impact
Electric Forklift Market
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Summary
Industry Background:
Electric Forklift is defined as the powered industrial truck, which is used to lift as well as move materials short distances, that is powered by electricity. Numerous advantages of using electric forklift such as less pollution, easier to operate and higher energy efficiency, among others. Increase in productivity, reduced injuries & accidents along with operator comfort are likely to be a prime driver of the global electric forklift market. The market for the electric forklift is anticipated to register a CAGR of over 8.3% during the forecast period. This growth is primarily driven by Increasing Trend in E-Commerce and Warehouse Segment and Technological Advancements Aimed at Increasing Productivity.
Globally, a noticeable market trend is evident Technology Advancement in Electric Forklift. Major Manufacturers, such as Toyota Industries Corporation (Japan), KION Group AG (Germany), Hyster-Yale Material handling Inc. (United States), Crown Equipment Corporation (United States), Hyundai Heavy Industries (South Korea), Jungheinrich AG (Germany), Mitsubishi Nichiyu (India), UniCarriers Corp (United States), Komatsu (United States) and Anhui Heli (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
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Key Developments in the Market:
In June 2016, Kion Group AG (Germany) Company has acquired Dematic (United States) Company, which is an automation provider as well as a specialist in supply chain optimization, by purchasing shares worth more than USD 2.1 billion. Hence, this acquisition will help in strengthening the position of the company.
In May 2016, the Jungheinrich (India) Company has introduced the lithium-ion-battery-powered vehicle in the 48-volt range with a battery capacity of 360 and 480-ampere hours. Hence, this will, in turn, propel the growth of the electric forklift market.
Market Drivers
Increasing Trend in E-Commerce and Warehouse Segment
Technological Advancements Aimed at Increasing Productivity
Market Trend
Technology Advancement in Electric Forklift
Restraints
Increase in Third Party Logistics (3PL) Services
Issue related to High Cost of Battery Operated and Fuel Cell Forklift
Opportunities
Increasing Demand for Battery-Operated Forklifts and Emerging Market Fueling the Growth
Challenges
Stringent Safety and Emission Regulations and Volatility in Global Market
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Strategic Points Covered in Table of Content of Global Electric Forklift Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025 Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Global Electric Forklift Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025market. (Introduction, Scope of the Report)Chapter 2: Exclusive Summary – the basic information of the Global Electric Forklift Market Insights by Application, Product Type, Competitive Landscape & R
....Continued
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