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Report explores the forklift market forecast to 2021

Automotive and Transportation Market Research

Forklift Market report represents the revenue opportunities in the market through to 2021, highlights the market size and growth by technology, geography, type and size. The report outlines the evolution of the industry and identifies and assesses the best performing vendors in the market.

Forklift Market highlights key players such as Toyota Industries Corporation, KION Group, Hyster-Yale Material Handling, Jungheinrich Group, Mitsubishi Nichiyu Forklift, Crown Equipment Corporation, Clark Material Handling, Anhui Forklift, Komatsu, Hangcha Group, Komatsu Limited.

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The global forklift market is projected to grow at a CAGR of 1.93%, from USD 16.00 billion in 2016 to USD 17.61 billion by 2021.The market is expected to reach 1.5 million units by 2021 in terms of value. The fastest growing trend in the global forklift market is the battery operated forklift.

The demand for battery-operated forklifts has increased because of their enhanced performance levels and greater productivity.

In addition, battery-operated forklifts also provide emission control advantage and are more economical as compared to ICE industrial vehicles.

The manufacturing segment is estimated to hold largest market size of forklifts in 2016, owing to rise in demand for infrastructural development. The paper industry, steel & iron industry, automotive industry, food and beverage industry, and others are the few examples of manufacturing industries where forklifts are being used.

However, distribution segment is expected to lead the market by 2021 significantly due to increasing number of warehouses being set up across the regions.

In 2016,the largest regional market for the forklift is the Asia-Pacific market, which holds majority of the market share of the global forklift market by value and volume. The adoption of forklift in the Indian and Chinese market is estimated to be low, but this trend is projected to increase rapidly in the near future as the Asian countries are developing in e-commerce and industrial manufacturing sectors.

The European forklift market is the fastest growing, which is dominated by Germany, a key market for the forklifts in the region.

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The break–up of the primaries is as follows:

  • By Company Type: T ier I–89%, Tier II–5%,and Tier III–6%
  • By Designation: C Level–5%, D Level–56%,and Manager level–39%
  • By Region: Americas-17%, Europe-33%, Asia-Pacific-33% and RoW-17%

Research Coverage

The report covers the global forklift market based on region (Americas, Europe, Asia-Pacific, Rest of the World-Africa and Oceania), Class(Class 1 -Electric Rider Trucks–Counterbalanced, Class 2 Electric Warehouse Rider Truck, Class 3 Electric Warehouse Pedestrian Trucks, Class 4&5 Internal Combustion Trucks, Cushion and Pneumatic Tires, Counterbalanced), Tonnage Capacity(Less than 5 ton by region, 5 ton - 10 ton by region, 11 ton - 36 ton by region, Above 36 ton), Fuel (Diesel, Gasoline & LPG/CNG, Battery-electric).

The report provides insights about the following points:

Market Penetration: Comprehensive information about forklift offered by the top players in the  industry

Regulatory Framework: Detailed insights into stringent emission regulations, and the effect of the regulations on the market

Market Development: Comprehensive information about various engine technology trends. The report analyzes the markets for various engine technologies across the countries

Market Diversification: Exhaustive information about emerging technologies, recent developments, and investments in the global forklift market

Competitive Assessment: In-depth assessment of strategies, services, and manufacturing capabilities of leading players in the global forklift market.

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