The forklift trucks market was valued at USD 43 billion in 2020, and it is expected to reach a CAGR of over 4.9% during the forecast period 2021-2028.
Forklift trucks are equipment for material processing. They’re the most prevalent industrial lift trucks on the market. They are the workhorses of material handling due of their versatility, which includes (i) indoor/outdoor operation on a range of surfaces, (ii) load capabilities, and (iii) attachments. A forklift truck is a type of motorized industrial truck. It aims to move and transport, push, pull and pull a material load and then stack it or store it in a warehouse rack, like other industrial trucks do. Forklift trucks are available in a variety of sizes and capacities. They can run on batteries or internal combustion engines that run on diesel or gaseous fuel.
The expansion of the construction sector, combined with rapid industrialization is the major factor that has supported long-term expansion for Forklift Truck Market.
The COVID-19 outbreak has had a negative influence on the forklift truck business. As a result of the closure of factories and warehouses, material handling and inventory management were no longer necessary. Major companies suspended operations in numerous locations due to lockdowns and social distancing practices. This has a direct influence on material handling forklift demand, as well as a huge proportion of the market’s business.
Asia-Pacific dominates the forklift truck market because of the huge need for forklift trucks from advancing nations. The increase in industrialization is one of the factors that are expected to aid the growth of the forklift trucks market.
Insights are provided for each region and major countries within the regions
|
Report Feature |
Descriptions |
|---|---|
|
Growth Rate |
CAGR of 4.9% during the forecasting period, 2021-2028 |
|
Historical Data |
2018-2019 |
|
Forecast Years |
2021-2028 |
|
Base Year |
2020 |
|
Units Considered |
Revenue in USD billion and CAGR from 2021 to 2028 |
|
Report Segmentation |
power train type, vehicle class, end user vertical and region. |
|
Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
|
Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
|
Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
|
Companies Profiled |
Toyota Industries Corporation, Crown Equipment Corporation, Kion Group AG, Hyster-Yale Materials Handling Inc., Hyundai Heavy Industries, Jungheinrich AG, Anhui Forklift Truck, Doosan Industrial Vehicle, Godrej & Boyce Manufacturing and Hangcha Group. |
|
Available Customization |
In addition to the market data for Forklift Truck Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Forklift Truck Market is segmented into power train type, vehicle class, end user vertical and region.
.png)
.png)
.png)
.png)
.png)
.png)