Press release
Forklift Market Projected to Reach USD 255.09 Billion by 2034, Growing at a CAGR of 13.5%
Polaris Market Research announces the release of its latest research report titled, "Forklift Market Size, Share, Trends & Industry Analysis Report: By Class (Class 1, Class 2, Class 3, and Class 4/5), Power Source, and Region- Market Forecast, 2025-2034."
The report analyzes the market for forklifts to exhibit a CAGR of 13.5% during 2025-2034. The market was valued at USD 72.06 billion in 2024 and is projected to grow to USD 255.09 billion by 2034.
Get Exclusive Sample Pages of This Report: https://www.polarismarketresearch.com/industry-analysis/forklift-market/request-for-sample
Market Introduction
A forklift is a powered industrial vehicle used primarily for lifting, moving, and stacking heavy materials over short distances. It consists of two-pronged forks at the front. These forks are inserted under loads and raised or lowered using a hydraulic mechanism. Forklifts come in various types, including counterbalance forklifts, reach trucks, and pallet jacks. Each of these forklift types is specifically designed for a particular application and environment. Internal combustion engines or electric batteries can power forklifts, which can operate both indoors and outdoors. They play a crucial role in streamlining material handling processes, improving efficiency, and reducing manual labor.
Market Dynamics
E-commerce Expansion and Logistics Growth: The sustained boom in e-commerce worldwide acts as a significant driver for the forklift market. The rapid penetration of online retail has led to a significant demand for advanced material handling solutions, including various types of forklifts.
Rising Industrial Production and Manufacturing Activity: Forklifts are indispensable for moving raw materials, work-in-progress, and finished goods within production facilities. The rise in production output directly translates to increased demand for efficient material handling solutions to maintain production lines and manage factory logistics.
Infrastructure Development and Construction Activities: Modern construction projects require heavy-duty construction equipment to lift, move, and place materials on-site. The versatility and lifting capabilities of forklifts make them vital in these demanding environments.
Request for a Discount on this Report Before Purchase: https://www.polarismarketresearch.com/industry-analysis/forklift-market/request-for-discount-pricing
Market Key Players
The competitive landscape of the market is characterized by new innovations and partnerships. A few of the key market participants include:
• Anhui Heli Co., Ltd.
• CLARK Material Handling Company
• Crown Equipment Corporation
• Hangcha Group Co., Ltd.
• Hyster-Yale Materials Handling, Inc. (Hyster and Yale brands)
• Jungheinrich AG
• KION Group (Linde Material Handling, STILL, Baoli)
• Komatsu Ltd.
• Mitsubishi Logisnext (Mitsubishi Heavy Industries)
• Toyota Material Handling (Toyota Industries Corporation)
Industry Developments
May 2025: Mitsubishi Logisnext Americas completed a significant expansion of its Houston manufacturing campus with the opening of a new 73,500-square-foot facility dedicated to electrification fabrication.
January 2025: Toyota Material Handling introduced two advanced, eco-friendly forklift models-the Integrated Mid & Large Electric Pneumatic Forklifts and an updated Core Electric Forklift series-enhancing its sustainable equipment lineup.
Segmental Analysis:
By Class Outlook (Revenue - USD Billion, 2020-2034)
• Class 1
• Class 2
• Class 3
• Class 4/5
By Power Source Outlook (Revenue - USD Billion, 2020-2034)
• Internal Combustion Engine
• Electric
Explore The Complete Comprehensive Report Here: https://www.polarismarketresearch.com/industry-analysis/forklift-market
Regional Overview
Asia Pacific holds the largest share of the global forklift market. This is primarily due to the region's extensive manufacturing base in major economies like China and India. In addition, rising e-commerce, increased investments in infrastructure, and supportive government policies contribute to the regional market dominance.
North America is witnessing robust growth, driven by its significant e-commerce infrastructure and comprehensive warehousing and logistics networks. The shift towards adopting advanced technologies and rising investments in modernizing existing warehouse facilities drives regional market growth.
More Trending Latest Reports by Polaris Market Research:
https://www.polarismarketresearch.com/industry-analysis/ignition-control-module-market
https://www.polarismarketresearch.com/industry-analysis/solar-powered-cold-storage-market
https://www.polarismarketresearch.com/industry-analysis/hand-truck-and-dolly-market
https://researchnewswire.fr/taille-du-marche-acier-allie-rapport-sectoriel-2034/
Contact:
Likhil G
8 The Green Ste 19824,
Dover, DE 19901,
United States
Phone: +1-929 297-9727
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
Follow Us: LinkedIn | Twitter
About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Forklift Market Projected to Reach USD 255.09 Billion by 2034, Growing at a CAGR of 13.5% here
News-ID: 4085899 • Views: …
More Releases from Polaris Market Research and Consulting
In Situ Hybridization Market Size Set to Hit USD 3,015.57 Million by 2034, Growi …
Polaris Market Research has released new insights into the In Situ Hybridization market, highlighting key developments, evolving trends, and growth prospects across major regions and segments. The report delivers an in-depth analysis of market dynamics, competitive shifts, and strategic outlooks to support informed decision-making for businesses and investors.
Market at a Glance
In 2024, the market was valued at USD 1,546.93 million and is anticipated to grow to USD 3,015.57 million by…
Next Generation Sequencing Sample Preparation Market Size Set to Hit USD 16.57 B …
Polaris Market Research has released new insights into the Next Generation Sequencing Sample Preparation market, highlighting key developments, evolving trends, and growth prospects across major regions and segments. The report delivers an in-depth analysis of market dynamics, competitive shifts, and strategic outlooks to support informed decision-making for businesses and investors.
Market at a Glance
In 2024, the market was valued at USD 4.09 billion and is anticipated to grow to USD 16.57…
Plastic Welding Equipment Market Projected to Reach USD 2.69 Billion by 2034 , R …
Polaris Market Research announces the release of its latest study on the Plastic Welding Equipment market. It offers comprehensive insights into all the key market aspects, including industry trends, market dynamics, competitive landscape, and strategic developments. The report is designed to help stakeholders make strategic decisions in the rapidly evolving market landscape.
According to the findings, the market stood at USD 1.60 billion in 2024 and is expected to reach USD…
DNA Manufacturing Market Projected to Reach USD 21.82 Billion by 2034, Registeri …
Polaris Market Research announces the release of its latest study on the DNA Manufacturing market. It offers comprehensive insights into all the key market aspects, including industry trends, market dynamics, competitive landscape, and strategic developments. The report is designed to help stakeholders make strategic decisions in the rapidly evolving market landscape.
According to the findings, the market stood at USD 5.59 billion in 2024 and is expected to reach USD 21.82…
More Releases for Class
Forklift Market Size, Share & Trends Analysis Report By Class (Class 1, Class 2, …
The booming e-commerce sector is driving up the demand for warehouse space and the need for effective supply chain management. Additionally, warehouse owners emphasise boosting efficiency inside the warehouse and operational plants, reducing operational costs, and increasing transparency. Due to these factors, forklifts with high operating precision and better navigation in tiers, mezzanines, and narrow aisles are projected to see an increase in demand. It is projected that the forklift…
Aircraft Seat Actuation System Market Business Class, First Class, Premium Econo …
The global aircraft seat actuation system market was valued at $526.5 million in 2021 and is projected to reach $1.2 billion by 2031, growing at a CAGR of 8.6% from 2022 to 2031.
Free Request Sample - https://www.alliedmarketresearch.com/request-sample/17463
The use of aircraft seat actuation system technology has drastically increased over the years, making it an essential component of the aircraft, and it is anticipated that this will lead to a considerable expansion…
Aircraft Seat Actuation System Market Business Class, First Class, Premium Econo …
The aircraft seat actuation system market was valued at $526.49 million in 2021, and is estimated to reach $1.2 billion by 2031, growing at a CAGR of 8.6% from 2022 to 2031.
Automotive AfterMarket by Application (Infotainment and Multimedia, Engine Component, Tires and Wheels, Electrical Products, Seat and Steering Covers, Others), by Distribution (OEM, Third Party Vendors), by Vehicle Type (Two Wheeler, Passenger Car, Commercial Vehicle), by Position (External Accessories, Internal…
Aircraft Seat Actuation System Market : Business Class, First Class, Premium Eco …
The automated parking management systems market generated $1.4 billion in 2021, and is projected to reach $5.7 billion by 2031, growing at a CAGR of 15.1% from 2022 to 2031.
Automated parking management systems comprises hardware and software components that assist in effective management of vehicle parking. It utilizes a mechanical system to transport vehicles to and from parking spaces in a multi-story parking area. Vehicles are stored in multiple parking…
Inflight Catering Market Report, by Aircraft class (Economy class, Business clas …
Inflight Catering market reports provides a comprehensive overview of the global market size and share. Inflight Catering market data reports also provide a 5 year pre-historic and forecast for the sector and include data on socio-economic data of global. Key stakeholders can consider statistics, tables & figures mentioned in this report for strategic planning which lead to success of the organization.
Major players operating in the global inflight catering…
Boom Trucks Market Report 2018: Segmentation by Product (Class 4, Class 5, Class …
Global Boom Trucks market research report provides company profile for Terex Corporation, Altec Corporation, Palfinger AG, Dur-A-Lift, Inc., Tadano Ltd., Socage S.R.L., and Versalift and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The…
