Press release
Forklift Trucks Market is projected to reach USD 41.73 billion by 2023
Forklift Trucks Market
Forklift trucks are used to lift and move materials within short distances. Forklift trucks are used across various industries such as automotive, food and beverages, construction, consumer goods, e-commerce, and retail. Growing demand from manufacturing industry is the primary driving factor of the forklift trucks market. Increase in productivity, reduced injuries & accidents along with operator comfort are some major factors that have positive influence on the market growth. However, high cost of electric powered forklift trucks is the factor that may hamper the growth of market.
Global Forklift Trucks Market is projected to reach USD 41.73 billion by 2023, at a CAGR of 5.9% from 2017 to 2023.
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Regional Analysis of Global Forklift Trucks Market:
Asia-Pacific dominates the global forklift trucks market followed by Europe. Growth in industrialization in this region, is the primary factor that increases the demand of forklift trucks market. This region is expected to grow at the fastest pace during the forecast period. Europe is another important market and is expected to contribute significantly during the forecast period.
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), and Kalmar Global (Finland).
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.
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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.
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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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
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