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The Worldwide Forklift Industry is Expected to Reach $19.1 Billion by 2026 - ResearchAndMarkets.com

November 16, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Nov 16, 2021--

The “Forklift - Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

Forklifts or powered industrial trucks are designed to suit specific applications such as lifting, loading and unloading of bulk goods. The broader adoption of forklifts is attributed to their ability to efficiently lift and move materials over different paths without any restrictions. Global demand for these systems is likely to be propelled by growth in infrastructural and industrial activities along with the need of high-capacity systems for high production and yield of goods.

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Booming e-commerce and retail businesses, flourishing automotive component manufacturing, growing consumable goods industry, and rising construction industry are further augmenting demand for forklifts. In addition, implementation of stringent regulatory standards towards worker safety during goods movement, like the EU`s `Health and Safety Directive` is expected to fuel the adoption of forklifts for manufacturing as well as distribution processes. The market is expected to also gain from technological advances and availability of automated platforms like monitoring and tracking solutions. The growing demand for shelves, pallets and racks in end-use applications along with the ability of these systems to reduce human efforts and enhance efficiency presents lucrative growth opportunities.

Amid the COVID-19 crisis, the global market for Forklift estimated at US$16.7 Billion in the year 2020, is projected to reach a revised size of US$19.1 Billion by 2026, growing at a CAGR of 2.2% over the analysis period. Diesel, one of the segments analyzed in the report, is projected to grow at a 1.6% CAGR to reach US$10.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electric segment is readjusted to a revised 3.2% CAGR for the next 7-year period.

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This segment currently accounts for a 19.1% share of the global Forklift market. Diesel forklift trucks are primarily designed for heavy lifting and to operate outdoors in rough terrain and harsh environments. They are suitable for handling and transporting a wide range of unit loads. Due to stringent regulatory emission norms for regulating CO2 emissions and relative high maintenance costs, diesel forklifts have made way for electric forklifts that are powered by electricity. Electric forklifts are propelled by a battery power source that does emit any harmful exhaust fumes. Rise in adoption of electric forklifts due to its benefits over internal combustion (IC) engines powered forklifts and increase in investments targeted at advancements in battery technology are poised to fuel growth of electric forklifts in the near future.

Select Competitors (Total 65 Featured) -

  • Anhui Heli Co., Ltd.
  • CLARK Material Handling International (CMHI)
  • Combilift Material Handling Solutions
  • Crown Equipment Corporation
  • Godrej Material Handling
  • HANGCHA GROUP CO., LTD
  • Hyster-Yale Materials Handling, Inc.
  • Jungheinrich AG
  • KION Group AG
  • Komatsu Ltd.
  • Lonking Holdings Limited
  • Mitsubishi Logisnext Co., Ltd.
  • Toyota Industries Corporation

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

  • Influencer Market Insights
  • Material Handling Equipment (MHE): An Introduction
  • Forklift: Integral Part of MHE
  • Types of Forklifts
  • Counterbalanced Forklift
  • Warehousing Forklifts
  • Forklift by Fuel Types
  • Diesel
  • Electric
  • Gasoline & LPG/CNG
  • Forklift by Tonnage Capacity
  • Less than 5 Ton
  • 5 Ton to 10 Ton
  • 11 Ton to 36 Ton
  • Classification by Forklift Classes
  • Born Out of Necessity, Forklifts Surge Ahead on the e-Commerce Boom
  • Developed Markets: Traditional Revenue Contributors
  • Developing Countries Turbo Charge Future Market Growth
  • Diesel Forklifts Making Way for Electric Forklifts
  • Manufacturing Application Segment to Maintain its Dominance
  • Global Economic Outlook: GDP Growth and Forklifts Market
  • Real GDP Growth Rates in % by Country/Region for the Years 2017 through 2020
  • Competitive Scenario
  • Impact of Covid-19 and a Looming Global Recession
  • Anhui Heli Co., Ltd. (China)
  • CLARK Material Handling Company (CMHC) (USA)
  • Combilift Material Handling Solutions (Ireland)
  • Crown Equipment Corporation (USA)
  • Godrej Material Handling (India)
  • HANGCHA GROUP CO., LTD (China)
  • Hyster-Yale Materials Handling, Inc. (USA)
  • Jungheinrich AG (Germany)
  • KION Group AG (Germany)
  • Komatsu Ltd. (Japan)
  • Lonking Holdings Limited (China)
  • Mitsubishi Logisnext Co., Ltd. (Japan)
  • Toyota Industries Corporation (Japan)
  • Increasing Popularity of Fuel cell-powered Forklifts Drives the Global Forklift Market
  • Myriad Benefits to Broaden Battery-operated Forklifts Application
  • Automated Forklifts Rise in Prominence
  • Electric Forklifts Gain Traction
  • Emphasis on Green Warehousing Steers Demand for Electric Forklifts
  • Forklift Tires Market: Characterized by Growing Demand for Solid and Non-Marking Tires
  • Lift Truck Made a Part of the Connected Enterprise Ecosystem

III. MARKET ANALYSIS

  • An Overview of Material Handling Equipment Market
  • Developing E-Commerce Industry Drives Growth in Automated Systems
  • Focus Heightens on Sustainable Solutions
  • Demand on Rise for Electric Forklifts
  • Competitive Landscape
  • Market Overview
  • Market Overview
  • Chinese Forklift Manufacturers Aim for Overseas Markets
  • Market Overview
  • Market Overview
  • Brief Market Overview
  • Market Overview & Outlook
  • Competitive Scenario
  • Market Overview
  • Opportunities in Retailing
  • ‘Go Green’ is the Mantra
  • Competitive Scenario
  • An Overview

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/ifk5zv

View source version on businesswire.com:https://www.businesswire.com/news/home/20211116006230/en/

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SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 11/16/2021 01:06 PM/DISC: 11/16/2021 01:06 PM

http://www.businesswire.com/news/home/20211116006230/en