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Thriving E-commerce Industry Boosts the Forklift Truck Market

03-06-2023 12:46 PM CET | Industry, Real Estate & Construction

Press release from: Triton Market Research

Forklift Truck Market

Forklift Truck Market

A recent study by Triton Market Research titled Global Forklift Truck Market includes the Global Analysis and Forecasts by Power Source (Electric Motor, Internal Combustion Engine), End-user (Logistics, Automotive, Manufacturing, Retail & Wholesale, Food Industry, Other End-users), Class (Class 1, Class 2, Class 3, Class 4, Class 5), Product Type (Counterbalance Forklift, Warehouse Forklift), and Regional Outlook (Asia-Pacific, Europe, Latin America, North America, Middle East and Africa).

Forklift trucks are widely used across industries for lifting, transporting, and handling goods and materials, including automotive, logistics, and construction. They come in various types, such as counterbalance forklift and warehouse forklift.

Request a Free Sample of the Global Forklift Truck Market Report @ https://www.tritonmarketresearch.com/reports/forklift-truck-market#request-free-sample

Triton's research report highlights that the global forklift truck market is anticipated to surge at a CAGR of 7.62%, reaching a revenue worth $106.26 billion by 2028.

Due to the rising disposable income and increasing customer demands for faster and more efficient delivery, the e-commerce industry is expanding at an unprecedented rate, prompting the adoption of advanced warehouse, fulfillment, and logistics solutions to increase productivity while lowering operational costs. This has increased the demand for forklift trucks to efficiently load and unload various goods in the warehouses. Thus, the thriving e-commerce warehouse industry is anticipated to drive the growth of the forklift truck market.

However, the availability of a limited number of raw material suppliers is one of the major factors limiting the market's growth. Forklift truck OEMs rely on several suppliers for forklift truck components, such as diesel, gasoline, and alternative fuel engines. These raw materials are sourced from various countries, and their supply is primarily vulnerable to fluctuations in commodity markets and exchange rates. Such fluctuations have a negative impact on the supply chain and will present a significant challenge to the key vendors operating in the forklift market during the forecast period.

The forklift truck market is divided into power source, end-user, class, and product type. Based on power source the market is divided into electric motor and internal combustion engine. The end-user segment is divided into logistics, automotive, manufacturing, retail & wholesale, food industry, and other end-users. The class segment includes class 1, class 2, class 3, class 4, and class 5. Lastly, based on product type the market consists of counterbalance forklift and warehouse forklift.

The Asia-Pacific leads the forklift truck market globally. The region's stronghold is due to the introduction of new eco-friendly and fuel-efficient forklifts by leading manufacturers. For instance, HELI, a forklift truck manufacturer in China, launched a new eco-friendly and noiseless heavy-duty electric forklift with a loading capacity of 10 tons. In addition, key features include high stability, high efficiency & comfort, and energy saving. Such advancements create numerous opportunities for the studied market across the region.

Hyster-Yale Materials Handling Inc, Hyundai Heavy Industries Co Ltd, Jungheinrich AG, Crown Equipment Corporation, Kion Group AG, Komatsu Ltd, Clark Material Handling Company, Lonking Holdings Limited, Toyota Industries Corporation, Godrej & Boyce Manufacturing Company Limited, Doosan Group, Hangcha Group Co, Anhui Heli Co Ltd, Mitsubishi Logisnext Co Ltd, and Ep Equipment Co Ltd are the leading players in the forklift truck market.

Purchase this report @ https://www.tritonmarketresearch.com/reports/forklift-truck-market#purchase-option

Question & Answer: Global Forklift Truck Market

Question 1: What factors drive the growth of the global forklift truck market?
Answer: Due to the rising disposable income and increasing customer demands for faster and more efficient delivery, the e-commerce industry is expanding at an unprecedented rate, prompting the adoption of advanced warehouse, fulfillment, and logistics solutions to increase productivity while lowering operational costs. This has increased the demand for forklift trucks to efficiently load and unload various goods in the warehouses. Thus, the thriving e-commerce warehouse industry is anticipated to drive the growth of the forklift truck market.

Question 2: What factors are limiting the global forklift truck market's growth?
Answer: The availability of a limited number of raw material suppliers is one of the major factors limiting the market's growth. Forklift truck OEMs rely on several suppliers for forklift truck components, such as diesel, gasoline, and alternative fuel engines. These raw materials are sourced from various countries, and their supply is primarily vulnerable to fluctuations in commodity markets and exchange rates. Such fluctuations have a negative impact on the supply chain and will present a significant challenge to the key vendors operating in the forklift market during the forecast period.

Question 3: Which region leads the forklift truck market globally?
Answer: The Asia-Pacific leads the forklift truck market globally. The region's stronghold is due to the introduction of new eco-friendly and fuel-efficient forklifts by leading manufacturers. For instance, HELI, a forklift truck manufacturer in China, launched a new eco-friendly and noiseless heavy-duty electric forklift with a loading capacity of 10 tons. In addition, key features include high stability, high efficiency & comfort, and energy saving. Such advancements create numerous opportunities for the studied market across the region.

Question 4: Which are the leading players in the global forklift truck market?
Answer: Hyster-Yale Materials Handling Inc, Hyundai Heavy Industries Co Ltd, Jungheinrich AG, Crown Equipment Corporation, Kion Group AG, Komatsu Ltd, Clark Material Handling Company, Lonking Holdings Limited, Toyota Industries Corporation, Godrej & Boyce Manufacturing Company Limited, Doosan Group, Hangcha Group Co, Anhui Heli Co Ltd, Mitsubishi Logisnext Co Ltd, and Ep Equipment Co Ltd are the leading players in the forklift truck market.

Related Report:

Mobile Cranes Market - https://www.tritonmarketresearch.com/reports/mobile-cranes-market

According to Triton Market Research, the global mobile cranes market is expected to grow at a CAGR of 5.70% between 2022 and 2028.

The market is booming due to factors such as increased infrastructure projects worldwide and the advantages of mobile cranes. Furthermore, mobile cranes' fuel efficiency and low carbon emissions increase their adoption, indicating a positive market outlook.

Material Handling Equipment Market - https://www.tritonmarketresearch.com/reports/material-handling-equipment-market

According to Triton Market Research, the global material handling equipment market will grow at a CAGR of 5.30% between 2019 and 2027.

Demand for technologically advanced equipment, increasing use of automation in all product segments, and growth in emerging nations are expected to drive market growth during the forecast period.

Triton Market Research
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Email: sales@tritonmarketresearch.com
Website: https://www.tritonmarketresearch.com/

Triton is a leading market research company providing clients with the best online market research data reports. Our offerings include syndicated market insights, customized research reports, and cost-effective consulting services for constructive decision-making.

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