APAC Region is the Leader of the Forklift Market

The forklift market will reach to a value of USD 42,519.4 million by 2030, at a compound annual growth rate of 2.8% by the end of this decade. The prosperous e-commerce industry all over the world and introduction of improved autonomous and e- forklifts are the main forces driving their acceptance.

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Class 2 forklifts are narrow-aisle models, as well as e- stand-up riders, side loaders, order pickers, and reach trucks. These forklifts are intended for faster operation and effective optimization of space. The growing count of warehouses and storage facilities because of the increasing e-commerce industry will, therefore, result in the fastest growth of the class 2 category in the industry.

The ICE category under the engine-type segment had the higher revenue in the past because of more than a few benefits provided by the forklift. This type of engine provides usage for long hours, lower initial cost and greater capacity, this is the main reason are just ideal to be used in heavy-duty applications.

The warehouse category will experience faster growth in the years to come. This is because of the rising requirement for cleaner and environmentally-friendly forklifts in industries and warehouses.

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Furthermore, the increasing fundings by the budding e-commerce industry in material handling equipment, such as autonomous and e forklifts, for streamlining their warehousing and logistics processes, will amplify the use of these vehicle.

APAC had the highest revenue contributor in the past. More than a few businesses in the developing economies of APAC are positioning forklifts with the aim of reducing the costs of labor and improve efficiency.

The acceptance rate of forklifts for monotonous material handling tasks in warehouses is on the rise in the region, as they are reliable and effective. The snowballing count of warehouses will therefore boost the forklift market in the future.

The research offers market size of the global forklift market for the period 2014-2030.

Market Segmentation by Class
• Class 1
• Class 2
• Class 3
• Class 4
• Class 5

Market Segmentation by Product
• Counterbalance
• Warehouse

Market Segmentation by Engine Type
• Internal Combustion Engine (ICE)
• Electric

Market Segmentation by Region
• North America
o By class
o By product
o By engine type
o By country - U.S. and Canada
• Europe
o By class
o By product
o By engine type
o By country - Germany, France, U.K., Spain, and Rest of Europe
• APAC
o By class
o By product
o By engine type
o By country - China, Japan, South Korea, and Rest of APAC
• LAMEA
o By class
o By product
o By engine type
o By country - Brazil, Mexico, South Africa, the U.A.E. and Rest of LAMEA

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