Press release
Asia-Pacific Forklift Market Momentum: Rising Demand from E-commerce & Logistics
Asia-Pacific Forklift Market Momentum: Rising Demand from E-commerce & Logistics
Get the Detailed Industry Analysis (including the Table of Contents, List of Figures, and List of Tables) - from the forklift market Research Report: https://marketgenics.co/reports/forklift-market-40016
Three forces explain this dominance:
Industrial Scale and Policy Momentum
From China's Made in China 2025 to India's PLI schemes and Southeast Asia's infrastructure boom, APAC governments are not observing industrial transformation-they are engineering it.
Forklifts sit at the core of:
Export-driven manufacturing
Mega logistics corridors
Smart warehouses
E-commerce fulfilment ecosystems
Construction and mining expansions
Electrification at Unprecedented Speed
Over 70% of global forklift sales in 2024 are electric-APAC drives this curve.
Lithium-ion adoption, battery swapping models, fuel-cell innovation, and zero-emission industrial policies all converge in the region, pushing electrification years ahead of Western markets.
OEM Powerhouses Shaping the Future
The region is home to the world's most influential forklift manufacturers:
Toyota Industries Corporation
KION Group (strong APAC presence)
Hangcha
Lonking
Anhui Heli
Komatsu
Hyundai Heavy Industries
Godrej & Boyce (India's innovation leader)
These companies build the platforms, software ecosystems, and automation capabilities that redefine global standards.
In the Forklift Market, APAC is not just competing-it is setting the rules of the game.
To know more about the forklift market - Download our Sample Report: https://marketgenics.co/download-report-sample/forklift-market-40016
Forklift Market as Global Productivity Infrastructure
Valued at USD 62.6 billion in 2024 and projected to reach USD 120.1 billion by 2035, the Forklift Market has evolved beyond machinery-it has become the operating infrastructure of modern production and logistics.
Forklift providers now influence:
How fast automation matures
How warehouses transition to lean operations
How fleets electrify under sustainability mandates
How AI-driven telematics reshape uptime and safety
How multi-ton freight moves across continents
Forklifts are becoming the mobility utilities of the industrial world.
Three Structural Forces Shaping the Forklift Market
Electrification and Zero-Emission Mandates
Corporations and governments are rewriting industrial emissions rules.
Electric forklifts-over 70% of 2024 global sales-are now the default choice.
Why? Because electrification delivers:
Lower maintenance costs
Higher uptime
Noise, heat, and emission reduction
Integration with battery intelligence systems
Compliance with global sustainability standards
Manufacturers like Toyota, Hyster-Yale, KION, Godrej & Boyce, and Komatsu are embedding IoT, AI-led diagnostics, and modular battery systems as competitive weapons.
E-Commerce and Warehouse Automation Surge
E-commerce alone fuels 35% of forklift demand.
Amazon operates over 750,000+ mobile robots-a blueprint APAC is rapidly scaling.
Forklifts are no longer standalone assets.
They are nodes inside automated warehouse systems integrated with:
WMS
ERP
Predictive maintenance engines
Vision-based safety systems
AGVs and AMRs
This integration accelerates forklift adoption across 3PL, retail, FMCG, pharma, food, and industrial manufacturing.
Industrial Infrastructure Expansion in Emerging Economies
Across APAC:
Industrial corridors in India
Smart ports in Indonesia
National Strategic Projects in Vietnam
Urban logistics in China
All rely on forklift modernization.
The Forklift Market is the foundation layer enabling industrial growth.
Buy Now: https://marketgenics.co/buy/forklift-market-40016
Segmental Insights | What the 2035 Market Will Look Like
Class 4 Forklifts: The Global Workhorse
Class 4 (IC engine with cushion tires) accounts for 41% of the market in 2024.
Why they dominate:
High load handling
Indoor operational excellence
Durability across factories and warehouses
Compatibility with heavy industrial environments
Manufacturers are reducing IC emissions, achieving Tier 4 Final compliance, and blending hybrid-electric systems.
Electric Forklifts Take the Lead
Battery electric forklifts are now the fastest-growing segment.
They win because they:
Deliver zero local emissions
Operate quietly
Offer rapid charging
Reduce lifetime operating costs
Integrate seamlessly with telematics
APAC manufacturers are aggressively scaling lithium-ion assembly lines.
Automation | Where Manual Meets Autonomous
Forklift automation levels are shifting:
Manual → still dominant
Semi-automatic → largest growth platform
Automatic → driven by e-commerce megahubs
AGV forklifts and autonomous reach trucks will be the next major battleground.
Regional Spotlight | Asia Pacific as the Global Forklift Capital
China | The Industrial Command Center
With the world's largest logistics network, China dominates:
Fleet volumes
R&D in heavy-duty electric forklifts
AI-led fleet management systems
Export-ready forklift production
Hangcha, Lonking, Heli, and BYD are expanding aggressively into electric and autonomous segments.
India | The Fastest-Growing Forklift Frontier
Government-led industrial acceleration under:
Make in India
PM Gati Shakti
PLI schemes
SEZ development
...is unlocking unprecedented forklift demand.
Godrej & Boyce's innovation in lithium-ion forklifts-with indigenous battery management systems-signals India's manufacturing modernization.
Japan & South Korea | Robotics-Driven Efficiency
Japan leads the world in:
AI-powered forklifts
Automated navigation
Vision-based safety
High-precision warehouse optimization
Toyota and Komatsu are setting global technology benchmarks.
Southeast Asia | Infrastructure Boom, High Forklift Momentum
Indonesia's USD 500B National Strategic Projects and Vietnam's logistics expansion are igniting forklift adoption across construction, warehousing, and ports.
Competitive Landscape | The Forklift Market Power Players
The market is moderately consolidated; top players control 60%+ of global share.
Key companies include:
Toyota Industries Corporation
KION Group AG
Komatsu Ltd.
Anhui Heli Co.
Hangcha
Konecranes
Hyster-Yale Material Handling
Crown Equipment Corporation
Godrej & Boyce Group
Manitou Group
Lonking Forklift Co.
Doosan Industrial Vehicle
Hyundai Heavy Industries Ltd.
Unicarriers Americas
Clark Material Handling
Strategic moves shaping 2025-2035:
Hyster (March 2025): High-capacity electric forklift lineup
Toyota (March 2025): Traigo48 electric forklift range
Seegrid (2024): Distribution realignment for direct autonomy solutions
The competitive arena is shifting from hardware superiority to software ecosystems, electrification leadership, and lifecycle analytics.
Forklift Market Dynamics | Drivers, Restraints, Opportunities
Driver | Lean Warehouses and Automation Demand
Rapid fulfilment cycles and just-in-time models drive adoption of:
Smart forklifts
Connected fleets
Automated pallet handling
APAC's vast e-commerce surge amplifies this trend.
Restraint | High Capital and Operating Costs
Electric forklifts often cost USD 25,000+, limiting SME adoption.
Total ownership costs-from training to maintenance-remain barriers in developing markets.
Opportunity | Infrastructure Development in Emerging APAC
Massive investments in:
Logistics parks
Ports
Industrial corridors
Smart factories
...position forklifts as essential mobility infrastructure.
Get the complete market breakdown - statistics, insights, and future outlook: https://marketgenics.co/press-releases/forklift-market-40016
The Forklift Market Becomes a Digital Industrial Utility
The future belongs to forklift providers who treat vehicles as data engines, enabling:
Telematics-led predictive maintenance
Carbon footprint dashboards
Energy optimization
Digital twin warehouse mapping
Over-the-air performance upgrades
Forklift OEMs are moving from manufacturing equipment to operating digital industrial platforms.
This is where economic advantage will be created.
Why the Forklift Market Report Matters for Global Buyers and Investors
Stakeholders want precision-not optimism.
They want intelligence such as:
✓ How electrification reshapes fleet costs
✓ Where APAC creates the next USD 3B annual demand cycle
✓ How automation levels influence ROI
✓ Which forklift classes deliver maximum lifecycle value
✓ How infrastructure expansion fuels heavy-load forklift adoption
✓ How leading OEMs position themselves in the next decade
The Forklift Market 2025-2035 report answers these with data grounded in real industrial economics.
Own the Industrial Transition Before 2035 Owns You
The industrial world has already chosen its trajectory:
automated, electric, data-driven.
Forklifts sit at the intersection of mobility, manufacturing, and logistics modernization.
Those who adopt forklifts as strategic productivity and sustainability infrastructure will lead the next global supply chain era.
Those who see forklifts as equipment purchases will be surpassed by integrated operators redefining efficiency and speed.
The future belongs to bold industrial thinkers.
The Forklift Market is where the next decade of competitiveness begins.
Contact:
Mr. Debashish Roy
MarketGenics Research
800 N King Street, Suite 304 #4208, Wilmington, DE 19801, United States
USA: +1 (302) 303-2617
Email: sales@marketgenics.co
Website: https://marketgenics.co
About Us
MarketGenics is a global market research and management consulting company empowering decision makers across healthcare, technology, and policy domains. Our mission is to deliver granular market intelligence combined with strategic foresight to accelerate sustainable growth.
We support clients across strategy development, product innovation, healthcare infrastructure, and digital transformation.
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