Forklift Trucks Market Worth USD 41.73 Billion by 2023 – Industry Applications and Forecast

Market Highlights

Forklift Trucks are used to lift and move materials within short distances. Growing e-commerce business across the globe ultimately increases the demand of forklift trucks market. However, environmental concerns regarding the use of IC-engine type forklift trucks may hamper the growth of the market.

The Global Forklift Trucks Market is projected to reach USD 41.73 billion by 2023, at a CAGR of 5.9% from 2017 to 2023.

Key Players

The key players of Global Forklift Trucks Market are –

• Komastu Ltd. (Japan)
• Toyota Industries Corporation (Japan)
• KION Group AG (Germany)
• Hyster-Yale Material Handling Inc. (U.S.)
• Jungheinrich Group (Germany)
• Mitsubishi Nichiyu Forklift Corporation (Japan)
• Crown Equipment Corporation (U.K)
• The Raymond Corporation (U.S.)
• ANHUI HELI CO., LTD (China)
• Kalmar Global (Finland)

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Market Research Analysis

On the basis of regions, the global forklift trucks market is segmented as North America, Europe, Asia-Pacific and RoW. Asia-Pacific region dominates the forklift trucks market. The demand of forklift trucks market in Asia-Pacific region is driven by the factors such as growth in industrialization, and construction & infrastructure activities. In Asia-Pacific region, China, India, Malaysia, and Indonesia are major markets for forklift trucks. This region is expected to grow at the fastest pace during the forecast period
Europe is the second largest market for the forklift trucks. The demand for electric powered forklift trucks is increasing in this region mainly due to the stringent emission norms. North America is expected to contribute significantly to the global forklift trucks market during the forecast period.

Scope of the Report

This study provides an overview of the global forklift trucks market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global forklift trucks market as technology, capacity and application.

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By Technology

• Electric Powered
• Internal Combustion Engine Powered

By Capacity

• Below 5 tons
• Above 5 tons

By Application

• Manufacturing
• Logistic
• Retail & Wholesale
• others

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This release was published on openPR.