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Press release content from Business Wire. The AP news staff was not involved in its creation.

Market for Forklift Trucks in the Middle East & Africa would Grow at a CAGR of 1.47% During the Forecast Period 2019-2027 - ResearchAndMarkets.com

December 20, 2019 GMT

DUBLIN--(BUSINESS WIRE)--Dec 20, 2019--

The “Middle East And Africa Forklift Truck Market 2019-2027” report has been added to ResearchAndMarkets.com’s offering.


This report states that the market for forklift trucks in the Middle East and Africa would grow at a CAGR of 1.47% in the forecast period 2019-2027.

South Africa, Turkey, the UAE, Saudi Arabia, and Rest of MEA together form the Middle East and Africa market for forklift trucks.

The construction sector in Saudi Arabia is the largest in the entire Middle East region, which contributes to 8% of the country’s total GDP. More than 80 infrastructural mega projects are in the pipeline in the country, each worth $1 million. The growing construction sector increases the demand for forklift trucks, as they aid in material handling processes. The rise in the demand for forklift trucks, thereby, pushes the growth of the forklift truck market in Saudi Arabia.

Turkey is located at a point that bridges continental Europe to the Middle East and Africa, which makes the country the epicenter for transport and logistics. Though in the nascent stage, Turkey’s logistics sector is progressing at a rapid pace, in line with the impressive economic growth displayed by the country. Statistics from the Investment Support and Promotion Agency of Turkey (ISPAT) suggest that the logistics industry accounts for approx. 10-15% of the total national GDP. Besides, the growth of the retail sector is also estimated to create a demand for efficient transport, logistics, and warehousing services across the nation. Forklift trucks play a vital role in ensuring the smooth and effective logistics infrastructure, and thus, they have witnessed an increase in demand. The growth of the logistics industry is thereby expected to positively affect the forklift truck market in Turkey.

Key Topics Covered:

1. Middle East And Africa Forklift Truck Market - Summary

2. Industry Outlook

2.1. Market Definition

2.2. Evolution & Transition Of Forklift Trucks

2.3. Porter’s Five Forces Analysis

2.3.1. Threat Of New Entrants

2.3.2. Threat Of Substitute

2.3.3. Bargaining Power Of Suppliers

2.3.4. Bargaining Power Of Buyers

2.3.5. Threat Of Competitive Rivalry

2.4. Key Impact Analysis

2.4.1. Cost

2.4.2. Type Of Engine

2.4.3. Payload Capacities

2.4.4. Lift Height

2.5. Market Attractiveness Index

2.6. Vendor Scorecard

2.7. Regulatory Framework

2.8. Market Drivers

2.8.1. Increasing Growth Of The Manufacturing Industry

2.8.2. Rise In E-Commerce Business

2.8.3. Warehouse Expansions

2.9. Market Restraints

2.9.1. Limited Number Of Raw Material Suppliers

2.10. Market Opportunities

2.10.1. Technological Advancements In Forklift Trucks

2.10.2. Adoption Of Environment-Friendly Logistics

2.10.3. Counterbalance Forklift To Hold The Largest Share In The Product Type Segment

2.11. Market Challenges

2.11.1. Government Rules & Regulations

3. Middle East And Africa Forklift Truck Market Outlook - By Product Type

3.1. Warehouse Forklift

3.2. Counterbalance Forklift

4. Middle East And Africa Forklift Truck Market Outlook - By Power Source

4.1. Internal Combustion Engine

4.2. Electric Motor

5. Middle East And Africa Forklift Truck Market Outlook - By Class

5.1. Class 1

5.2. Class 2

5.3. Class 3

5.4. Class 4

5.5. Class 5

6. Middle East And Africa Forklift Truck Market Outlook - By End-User

6.1. Retail & Wholesale

6.2. Logistics

6.3. Automotive

6.4. Food Industry

6.5. Others

7. Middle East And Africa Forklift Truck Market - Regional Outlook

7.1. United Arab Emirates

7.2. Turkey

7.3. Saudi Arabia

7.4. South Africa

7.5. Rest Of Middle East & Africa

8. Competitive Landscape

8.1. Hangcha Group Co., Ltd.

8.2. Kion Group Ag

8.3. Anhui Heli Co., Ltd.

8.4. Clark Material Handling Company

8.5. Crown Equipment Corporation

8.6. Toyota Industries Corporation

8.7. Mitsubishi Logisnext Co., Ltd.

8.8. Jungheinrich Ag

8.9. Ep Equipment Co., Ltd.

8.10. Hyster-Yale Materials Handling, Inc.

8.11. Hyundai Heavy Industries Co., Ltd.

8.12. Komatsu Ltd.

8.13. Lonking Holdings Limited

8.14. Godrej & Boyce Manufacturing Company Limited

8.15. Doosan Corporation Industrial Vehicle

9. Methodology & Scope

9.1. Research Scope & Deliverables

9.2. Sources Of Data

9.3. Research Methodology

For more information about this report visit https://www.researchandmarkets.com/r/jurx8t

View source version on businesswire.com:https://www.businesswire.com/news/home/20191220005373/en/

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SOURCE: Research and Markets

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PUB: 12/20/2019 10:25 AM/DISC: 12/20/2019 10:25 AM