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Global Forklift Truck Market

Global Forklift Truck Market By Type (Class 1, Class 2, Class 3, Class 4, Class 5 and others), By Application (Mining Logistics, Construction, Food & Beverage, Natural Resources, Manufacturing and others), By Power Source (IC Engine Powered and Electric Powered), By Region (North America, Europe, Asia-Pacific, South America and The Middle East & Africa)-Global Forecast to 2030.

Frequently Asked Questions (FAQ):

The global forklift truck market size is estimated to reach USD 94 billion in 2030 with a CAGR of 7.1% during the forecast period of 2022-2030 and it was USD 52 billion in 2022.

The companies Crown Equipment Corporation, EP Equipment, HANGCHA, Hyster-Yale Materials Handling, Inc., Jungheinrich AG, Kion Group AG, Komatsu Ltd., Lonking Machinery Co. Ltd., Mitsubishi Logisnext Co. Ltd. and Toyota Industries Corporation, are the key players in the global forklift truck market.

Electric forklift trucks deliver higher efficiency than the other trucks, and also, the elements of this machine offer optimal productivity to all its applications. Compared to the internal combustion systems, the implementation of the AC truck in parameters such as load-lift ability, power to negotiate a ramp, acceleration, speed control on-ramps, and braking are acquiring the industries’ attraction. These are the growth drivers in the global forklift truck market.

Adopting artificial intelligence, robotics, interconnected things, etc., is ushering in the new age of automation as machines outperform or match the human interpretation range of work activities, including ones demanding cognitive abilities are the opportunities in the global forklift truck market.

Asia Pacific region is expected to emerge dominant in this market during the forecast period. The region’s development is due to the demand for modern material handling equipment across the industries.

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