Press release
Global Forklift Truck Market is projected to Reflect US$ 55.9 Billion by the End of 2021
Key driving factors identified in the global forklift truck market include expansion of warehouse space globally, growing e-commerce business across the globe, strong demand for forklift truck replacement in developed markets, and bulk investments in purchase of low-cost forklift trucks in emerging markets.
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Assessing the various factors driving the market growth, PMR analyst opined, “The global material handling equipment market is growing significantly at an annual growth rate of 3%–7%. Electric type forklift truck is one of the prominent segments in this market. These trucks are gaining traction due to the implementation of various advanced technologies and their growing application across various industries worldwide.” The China market is projected to exhibit the fastest growth over the forecast period due to various factors, such as favorable economic environment and a need for technological advancements in in-house logistics in the country.
From a regional perspective, Asia-Pacific was the largest market for forklift trucks in 2014, accounting for approximately 41.4% volume share of the overall market. Europe is projected to account for the second largest volume share of the global forklift truck market and expand at a CAGR of 4.6% over the forecast period, due to the positive outlook of the economy in Western Europe and expected rise in trade of goods, in turn leading to a significant growth in demand for forklift trucks in the region in the near future.
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Key market participants covered in the report include Kion Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Toyota Industries Corporation (TICO), Mitsubishi Nichiyu Forklift Co., Ltd., Crown Equipment Corporation, Anhui HeLi Co., Ltd., CLARK Material Handling Co., Ltd., and UniCarriers Americas Corporation.
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Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
PMR stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, PMR’s engagement models are highly flexible without compromising on its deep-seated research values.
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