The Rise Of E-Commerce Fueling Growth In The Forklift Market: The Driving Engine Behind Forklift Market Evolution in 2025

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

Forklift Market Size Growth Forecast: What to Expect by 2025?
The scale of the forklift industry has expanded swiftly over the recent past. It's forecasted to escalate from $63.85 billion to $72.11 billion between 2024 and 2025, with a compound annual growth rate (CAGR) of 12.9%. Factors contributing to the expansion during the historic period include the rising use of electric forklifts, an enhanced emphasis on achieving net zero emissions, a growing requirement to boost energy efficiency, acceptance of lithium battery-driven electric forklifts, and the proliferation of the construction sector.

How Will the Forklift Market Size Evolve and Grow by 2029?
The forklift market is projected to experience substantial growth in the upcoming years, reaching $115.88 billion by 2029 at a compound annual growth rate of 12.6%. The expansion during the forecast period is attributed to factors like the expansion of the e-commerce sector, an upsurge in demand for automated and lean warehouses, increased infrastructure development investments, difficult terrains, and heavy construction material transportation, alongside the advancement of large-scale construction projects. The forecast period will also witness significant changes like accelerating technological innovations, modular solutions to maximize customer productivity, growing demand for connected forklift trucks enhancing the industry, novel product developments, and the incorporation of automation and robotics.

View the full report here:
https://www.thebusinessresearchcompany.com/report/forklift-global-market-report

What Drivers Are Propelling the Growth of Forklift Market Forward?
The surge in e-commerce is predicted to drive the expansion of the forklift market in the future. The growth in electronic commerce, which involves the online exchange of goods and services, is largely attributed to advancements in mobile technology, digital advertising, logistics, supply chain management, AI personalized shopping experience, and buy-now-pay-later options. By improving inventory control, accelerating order completion, and optimizing warehouse designs for safety and cost-effectiveness, forklifts significantly contribute to e-commerce operations. Their adaptability and efficiency are key to satisfying the robust demands of the fast-paced e-commerce sector. For instance, the International Trade Administration, an American government agency, reported in November 2023 that ecommerce revenues in the UK are projected to increase at an average yearly rate of 12.6% by 2025. The UK emerges as the third-largest e-commerce market worldwide, preceded by China and the U.S. As of January 2021, consumer e-commerce made up 36.3% of the total retail landscape in the UK, with projected revenues raising to $285.60 billion by 2025. Consequently, the burgeoning demand for e-commerce is steering the growth of the forklift market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=19448&type=smp

Which Emerging Trends Are Transforming the Forklift Market in 2025?
Key firms in the forklift market, are channeling their resources towards the development of trailblazing technology such as autonomous and remote-controlled forklifts. Their aim is to amplify operational productivity, minimize workforce costs, and heighten safety within industrial and warehouse spaces. These advanced systems and technological advancements like autonomous and remote-controlled forklift tech, encourage more efficient, safer, and cost-friendly warehouse procedures by allowing forklifts to function with little or no human oversight. For instance, ArcBest Corporation, an American company specializing in logistics, supply chain solutions, and freight transportation, introduced Vaux Smart Autonomy, an autonomous and remote-controlled forklift line in February 2024. This novel system merges autonomous mobile robots with software that permits human operators to manipulate these robots from a distance. The forklifts, laden with sensors and cameras, can operate in both automated and manual modes, navigating the warehouse efficiently and effectively while loading, stacking pallets, and transporting other goods.

What Are the Key Segments in the Forklift Market?
The forkliftmarket covered in this report is segmented -

1) By Propulsion: Electric, Internal Combustion Engine
2) By Fuel Type: Gasoline And Compressed Natural Gas (CNG) And liquefied Petroleum Gas (LPG), Diesel, Battery-Electric
3) By Class: Class 1, Class 2, Class 3, Class 4 Or 5
4) By Tonnage: Below 5 Ton, 5 Ton - 10 Ton, 11 Ton - 36 Ton, Above 36 Ton
5) By Application: Freight And Logistics, Wholesale And Retail Distribution, Manufacturing, Other Applications

Subsegments:
1) By Electric Forklifts: Lead-Acid Battery, Lithium-Ion Battery, Fuel Cell Electric Forklifts, Swappable Battery Systems
2) By Internal Combustion Engine Forklifts: Propane Forklifts, Diesel Forklifts, Gasoline Forklifts, Dual-Fuel Forklifts

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=19448&type=smp

Who Are the Key Players Shaping the Forklift Market's Competitive Landscape?
Major companies operating in the forklift market are Caterpillar Inc., Toyota Industries Corporation, Komatsu Ltd., Anhui Heli Co. Ltd., Kion Group AG, TCM Corporation, Noblelift Intelligent Equipment Co. Ltd., Jungheinrich AG, Mitsubishi Logisnext Co. Ltd., Hyster-Yale Inc., Crown Equipment Corporation, Hangcha Group Co. Ltd, Manitou Group, Doosan Group, Hydrauliska Industri AB, The Raymond Corporation, Action Construction Equipment Ltd., Linde Material Handling Ltd., AUSA, Clark Material Handling Company, Conger Industries Inc.

What Geographic Markets Are Powering Growth in the Forklift Market?
Asia-Pacific was the largest region in the forklift market in 2024. North America is expected to be the fastest-growing region in the market going forward. The regions covered in the forklift market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=19448

"This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work."

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.