Press release
Forklift Market Size & Industry Growth Analysis is Expected To Reach US$ 201.81 Billion By 2032, at a CAGR of 13.3% | PMR
According to the research report, the global forklift market was valued at USD 65.65 billion in 2023 and is expected to reach USD 201.81 billion by 2032, to grow at a CAGR of 13.3% during the forecast period.๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/forklift-market/request-for-sample
A forklift is a compact industrial vehicle possessing a power-propelled forked platform connected at the front that can be elevated and let down for positioning beneath a cargo to lift or move. Forklifts serve the requirements of several industries involving warehouses and alternate extensive repository prerequisites. They are fuelled by electric batteries or ignition engines. Some forklifts permit the operators to be seated while driving and functioning the machine, while others require operators to stand.
One key driver of the forklift market growth is the considerably escalating e-commerce industry and uninterrupted alterations in warehouse management over recent years. Also, the growing pervasiveness of pioneered forklifts is due to their capacity to function productively in several taxing topographies and convey bulky construction supplies.
๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ ๐๐จ๐ฏ๐๐ซ๐๐
The market topography is integrated with a handful of manufacturers regulating the bulk of the market share. Prominent companies are combining progressive safety attributes in forklifts to augment their customer base. Some of the companies that are currently dominating the forklift market are:
โข Anhui Heli Co. Ltd.
โข Crown Equipment Corporation
โข Doosan Corporation
โข Hyster-Yale Materials Handling Inc.
โข Jungheinrich AG
โข KION Group AG
โข Komatsu Ltd.
โข Mitsubishi Logisnext Co. Ltd.
โข Toyota Material Handling
โข Lonking Forklift Co. Ltd.
โข Hyundai Vehicle America Corp.
โข Cargotec
โข Boyce Group
โข Mitsubishi Nichiyu Forklift Co. Ltd.
โข Manitou Group./li>
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/buy/2161/2
๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
By class analysis, the class 3 segment witnessed the highest growth rate. This can be attributed to growing consciousness and approval amongst warehouses and several administration centers because of further down-based and low sustenance costs as juxtaposed to others. Additionally, by power source analysis, the electric segment will expand at the fastest rate due to the escalated acquisition of electric vehicles covering both advanced and advancing nations due to cost-saving maintenance prices as opposed to combustion engine-dependent vehicles.
๐ ๐ฎ๐ง๐๐๐ฆ๐๐ง๐ญ๐๐ฅ ๐๐ญ๐๐ญ๐ฌ
โข The market was valued at USD 65.65 billion in 2023 and is expected to grow to USD 201.81 billion by 2032.
โข The market is anticipated to grow at a CAGR of 13.3% during the forecast period of 2024-2032.
โข In 2022, Asia Pacific conquered the market. Also, North America is expected to witness a major growth rate.
๐๐ฅ๐ข๐๐ค ๐ก๐๐ซ๐ ๐ญ๐จ ๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/forklift-market
๐ ๐จ๐ซ๐ค๐ฅ๐ข๐๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ
โข Class 3 segment accounted high market share in 2022, which is mainly accelerated by its growing adoption among various distribution centers and warehouses
โข Electric segment held the largest market share in 2022, on account of rapidly growing popularity of various innovated electric vehicles due to its eco-friendliness and lower operational & maintenance costs
โข Asia Pacific region dominated the global market owing to the presence of large industrial manufacturing companies in countries like China and India and demand for innovated material handling equipment
โข The global key market players include Crown Equipment Corporation, Hyster-Yale Materials Handling Inc., Toyota Material Handling, Hyundai Vehicle America Corporation, and Boyce Group
๐๐ข๐ฌ๐๐จ๐ฏ๐๐ซ ๐๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ฒ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ข๐ง๐ ๐๐๐ฅ๐๐ญ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐ซ๐๐ง๐ฌ๐ฉ๐จ๐ซ๐ญ๐๐ซ๐ฌ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/electric-transporters-market
๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐๐ก๐ข๐๐ฅ๐๐ฌ (๐๐ฏ) ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/electric-vehicles-ev-market
๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐จ๐ฐ๐๐ซ๐ญ๐ซ๐๐ข๐ง ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/electric-powertrain-market
๐๐๐ญ๐๐ซ๐ข๐๐ฅ ๐๐๐ง๐๐ฅ๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/material-handling-equipment-market
๐๐ข๐ง๐ข๐ง๐ ๐๐ช๐ฎ๐ข๐ฉ๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ: https://www.polarismarketresearch.com/industry-analysis/mining-equipment-market
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ง๐๐จ:
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.
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