Forklift Trucks Market 2022: Global Size, Share, Key Players, Growth and Industry Trends by 2027

According to IMARC Group's latest report, titled "Forklift Trucks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global forklift trucks market reached a value of US$ 58.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 82.9 Billion by 2027, exhibiting at a CAGR of 6.2% during 2022-2027.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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A forklift truck is an industrial machine that has a power-operated forked platform attached at the front for unloading, loading, and transporting goods. Counterbalanced and warehouse are some of the commonly used forklift trucks. It consists of various components, including frame, axles, wheels, carriage, counterweight, hydraulic cylinders, and overhead guard. Forklift trucks are majorly used in warehousing operations, dockyards, snowplow, construction sites, and recycling operations to transport materials and packaged goods on pallets or packs. It aids in eliminating the need for manpower, thereby reducing time and enabling easy and quick transportation of heavy materials.

Market Trends and Drivers:

The global forklift trucks market is primarily being driven by the significant growth in the construction industry, wherein it is used in handling, delivering, and transporting heavy construction materials, such as steel, wood, and mortar. Moreover, various technological advancements, such as the integration of the Internet of Things (IoT) and artificial intelligence (AI), are providing an impetus to the market growth. These trucks offer monitoring capabilities and control of day-to-day operations, thus enhancing the overall productivity, operations, and reliability. Other factors, including increased utilization of electrically powered forklift trucks and growth in the e-commerce industry are positively influencing the market growth.

Forklift Trucks Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the forklift trucks market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Clark Material Handling Company
Godrej & Boyce
Hyundai Heavy Industries Co. Ltd
Crown Equipment Corporation
Mitsubishi Forklift Trucks
KION Group
Toyota Industries Corporation
Hyster-Yale Materials Handling Inc.
Jungheinrich

Key Market Segmentation:

The report has segmented the global forklift trucks market on the basis of region, product type, technology, class and application.

Breakup by Product Type:

Counterbalanced Forklift Trucks
Warehouse Forklift Trucks

Breakup by Technology:

Electricity Powered
Internal Combustion Engine Powered

Breakup by Class:                             

Class I
Class II
Class III
Class IV
Class V

Breakup by Application:                                    

Non-Industrial
Warehouses and Distribution Centers
Construction Sites
Dockyards
Snow Plows
Industrial
Manufacturing
Recycling Operations

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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