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Forklift Truck Market: Growth Forecasts, 2023-2030

03-14-2024 11:13 AM CET | Industry, Real Estate & Construction

Press release from: Triton Market Research

FORKLIFT TRUCK MARKET

FORKLIFT TRUCK MARKET

Triton's report estimates the global forklift truck market reached $68,393.39 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 8.08% by 2030.

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).

Read the Market Summary Here:
https://www.tritonmarketresearch.com/reports/forklift-truck-market?utm_source=PaidPRNew&utm_medium=OpenPR&utm_campaign=TritonPR

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.

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.

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

The e-commerce business is growing at an unprecedented rate, driven by rising disposable income and customer demand for faster and more efficient delivery. As a result, enhanced fulfillment, warehousing, and logistics systems that increase output while decreasing costs have become standard. As a result, forklift trucks are becoming increasingly important for efficiently loading and unloading diverse items in warehouses. Forklift truck sales are expected to increase as a result of the expanding e-commerce warehousing business.

Still, one of the main things impeding the market's expansion is the scarcity of raw material suppliers. For parts like gasoline, diesel, and alternative fuel engines, forklift truck OEMs depend on multiple sources. The availability of these basic materials, which come from different nations, is mostly dependent on changes in exchange rates and commodities markets. The supply chain is negatively impacted by these variations, which also pose a serious threat to the major suppliers to the forklift market during the course of the projection period.

Here's a link to our Regional Reports Summary:
https://www.tritonmarketresearch.com/search-report/FORKLIFT+TRUCK+MARKET

There are four segments in the forklift truck market: power source, end-user, class, and product type. The market is split between internal combustion engines and electric motors based on the power source. The logistics, automotive, manufacturing, retail & wholesale, food industry, and other end-users segments comprise the end-user segment. Class 1, Class 2, Class 3, Class 4, and Class 5 are included in the class segment. Finally, the market is made up of warehouse forklifts and counterbalance forklifts based on product type.

Asia-Pacific dominates the global market for forklift trucks. Leading manufacturers have transformed the area into a stronghold by introducing contemporary, environmentally friendly, and fuel-efficient forklifts. For example, HELI, a Chinese forklift manufacturer, has launched a new heavy-duty electric forklift that is both silent and environmentally friendly. It has a ten-ton load capacity. Other notable advantages include superior energy efficiency and comfort, exceptional stability, and lower energy consumption. Such developments create several prospects for the investigated industry and its surrounding area.

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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London E16 2EQ
Phone: +44 7441 911839
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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