Summary

Forklift Truck Market Size, Share, and Analysis, By Power-Train Type (Internal Combustion Engine and Electric), By Vehicle Class (Class I, Class II, Class III, and Class IV), By Vertical (Industrial, Construction, Manufacturing, and Others), By Lifting Capacity (< 5 ton, 5 ton - 10 ton, 11 ton - 36 ton, > 36 ton) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

PRODUCT OVERVIEW
Forklift Truck Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 8.9% during the forecast span from 2024 to 2034. In 2023, the market size was assessed at USD 54.3 billion and is projected to reach USD 138.4 billion by the completion of 2034.
Forklift truck is a powerful industrial vehicle that is used for lifting, transporting, and stacking materials. These machines are equipped with forks, which are used to raise and lower loads for various tasks. Additionally, forklifts are essential in manufacturing facilities, distribution centers, and construction sites for efficiently transferring big items over short distances. Their dimensions and designs differ, including compact electric versions which are intended for indoor use, and sizable diesel-powered counterparts that are intended for outdoor settings. Moreover, to prevent accidents, safety elements like overhead guards and stability systems are used. Furthermore, operators receive specialized training to properly operate forklifts, thus taking into account elements such as load capacity, center of gravity, and maneuverability in small places. Thus, forklifts are essential to logistics and supply chain operations, as they simplify material handling operations and increase efficiency.

MARKET HIGHLIGHTS
Forklift Truck Market is projected to reach USD 138.4 billion over the forecast period, due to rising industrial activity and growth in sectors such as manufacturing, logistics, and e-commerce. Moreover, the growing preference for electric forklifts due to environmental concerns and regulatory pressures, along with innovations like automation and IoT integration are improving the efficiency of these machines around the world. Emerging markets are greatly contributing to market growth due to fast industrialization and infrastructure development. However, difficulties such as high investment expenditures and the need for qualified operators remain prevalent. Therefore, the forklift truck market is defined by a focus on sustainability and technical innovation, to provide efficient and affordable material handling solutions across a wide range of industries.

Forklift Truck Market Segments:

• By Power-Train Type
o Internal Combustion Engine
o Electric
• By Vehicle Class
o Class I
o Class II
o Class III
o Class IV
• By Vertical
o Industrial
o Construction
o Manufacturing
o Others
• By Lifting Capacity
o < 5 ton
o 5 ton - 10 ton
o 11 ton - 36 ton
o 36 ton

MARKET DYNAMICS
Growth Drivers
Improvements in Technology Will Present Growth Opportunities for the Forklift Truck Industry
Growth of E-Commerce and Logistics Will Help in the Adoption of Forklifts
Restraint
Skilled Labor Requirement May Prevent Growth in the Forklift Industry

Key Players
• Toyota Industries Corporation
• Kion Group AG
• Jungheinrich AG
• Crown Equipment Corporation
• Mitsubishi Logisnext Co., Ltd.
• Hyster-Yale Materials Handling, Inc.
• Hangcha Group Co., Ltd.
• Komatsu Ltd.
• Anhui Forklift Group Co., Ltd.
• Clark Material Handling Company
• Doosan Industrial Vehicle Co., Ltd.
• Hyundai Heavy Industries Co., Ltd.
• NACCO Industries, Inc.
• EP Equipment Co., Ltd.
• Lonking Holdings Limited
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Global Laboratory Temperature Control Units Market is further segmented by region into:
• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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Table of Contents

1. Executive Summary
1.1.Regional Market Share
1.2. Business Trends
1.3.Forklift Truck Market: COVID-19 Outbreak
1.4.Regional Trends
1.5. Segmentation Snapshot
2. Research Methodology
2.1. Research Objective
2.2.Research Approach
2.3.Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
2.5.1. Paid Sources
2.5.2.Public Sources
2.6.Market Size Estimation and Data Triangulation
3. Market Characteristics
3.1. Market Definition
3.2.Forklift Truck Market: COVID-19 Impact
3.3.Key Segmentations
3.4. Key Developments
3.5. Allied Industry Data
4. Forklift Truck Market – Industry Insights
4.1.Industry Segmentation
4.2. COVID-19 overview of world economy
4.3. Industry Ecosystem Channel Analysis
4.4. Innovation & Sustainability
5. Macroeconomic Indicators
6. Recent Developments
7.Market Dynamics
7.1. Introduction
7.2.Growth Drivers
7.3.Market Opportunities
7.4. Market Restraints
7.5.Market Trends
8. Risk Analysis
9. Market Analysis
9.1. Porter's Five Forces
9.2.PEST Analysis
9.2.1. Political
9.2.2.Economic
9.2.3.Social
9.2.4.Technological
10. Forklift Truck Market
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11.Forklift Truck Market Size & Forecast 2024A-2034F
11.1.Overview
11.2. Key Findings
11.3. Market Segmentation
11.3.1. By Power-Train Type
11.3.1.1. Internal Combustion Engine
11.3.1.1.1. By Value (USD Million) 2024-2034F
11.3.1.1.2.Market Share (%) 2024-2034F
11.3.1.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Electric
11.3.1.2.1.By Value (USD Million) 2024-2034F
11.3.1.2.2. Market Share (%) 2024-2034F
11.3.1.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.2. By Vehicle Type
11.3.2.1.Class I
11.3.2.1.1.By Value (USD Million) 2024-2034F
11.3.2.1.2. Market Share (%) 2024-2034F
11.3.2.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Class II
11.3.2.2.1. By Value (USD Million) 2024-2034F
11.3.2.2.2.Market Share (%) 2024-2034F
11.3.2.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Class III
11.3.2.3.1. By Value (USD Million) 2024-2034F
11.3.2.3.2.Market Share (%) 2024-2034F
11.3.2.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.4. Class IV
11.3.2.4.1. By Value (USD Million) 2024-2034F
11.3.2.4.2.Market Share (%) 2024-2034F
11.3.2.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.3. By Vertical
11.3.3.1.Industrial
11.3.3.1.1.By Value (USD Million) 2024-2034F
11.3.3.1.2. Market Share (%) 2024-2034F
11.3.3.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Construction
11.3.3.2.1. By Value (USD Million) 2024-2034F
11.3.3.2.2.Market Share (%) 2024-2034F
11.3.3.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.3. Manufacturing
11.3.3.3.1. By Value (USD Million) 2024-2034F
11.3.3.3.2.Market Share (%) 2024-2034F
11.3.3.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.4. Others
11.3.3.4.1. By Value (USD Million) 2024-2034F
11.3.3.4.2. Market Share (%) 2024-2034F
11.3.3.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.4. By Lifting Capacity
11.3.4.1.< 5 ton
11.3.4.1.1.By Value (USD Million) 2024-2034F
11.3.4.1.2. Market Share (%) 2024-2034F
11.3.4.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.2. 5 ton - 10 ton
11.3.4.2.1. By Value (USD Million) 2024-2034F
11.3.4.2.2.Market Share (%) 2024-2034F
11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.3. 11 ton - 36 ton
11.3.4.3.1. By Value (USD Million) 2024-2034F
11.3.4.3.2. Market Share (%) 2024-2034F
11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.4. > 36 ton
11.3.4.4.1.By Value (USD Million) 2024-2034F
11.3.4.4.2. Market Share (%) 2024-2034F
11.3.4.4.3. Y-o-Y Growth (%) 2024-2034F
12. North America Forklift Truck Market Size & Forecast 2024A-2034F
12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Power-Train Type
12.3.2.By Vehicle Class
12.3.3.By Vertical
12.3.4.By Lifting Capacity
12.4. Country
12.4.1. United States
12.4.2.Canada
13. Europe Forklift Truck Market Size & Forecast 2024A-2034F
13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1. By Power-Train Type
13.3.2.By Vehicle Class
13.3.3.By Vertical
13.3.4.By Lifting Capacity
13.4. Country
13.4.1.Germany
13.4.2.United Kingdom
13.4.3.France
13.4.4. Italy
13.4.5.Spain
13.4.6.Russia
13.4.7.Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14. Asia-Pacific Forklift Truck Market Size & Forecast 2024A-2034F
14.1.Overview
14.2. Key Findings
14.3. Market Segmentation
14.3.1. By Power-Train Type
14.3.2.By Vehicle Class
14.3.3.By Vertical
14.3.4. By Lifting Capacity
14.4. Country
14.4.1. India
14.4.2.China
14.4.3. South Korea
14.4.4. Japan
14.4.5. Rest of APAC
15. Middle East and Africa Forklift Truck Market Size & Forecast 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1. By Power-Train Type
15.3.2.By Vehicle Class
15.3.3.By Vertical
15.3.4.By Lifting Capacity
15.4. Country
15.4.1. Israel
15.4.2.GCC
15.4.3.North Africa
15.4.4. South Africa
15.4.5.Rest of Middle East and Africa
16. Latin America Forklift Truck Market Size & Forecast 2024A-2034F
16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Power-Train Type
16.3.2.By Vehicle Class
16.3.3.By Vertical
16.3.4.By Lifting Capacity
16.4. Country
16.4.1. Mexico
16.4.2.Brazil
16.4.3.Rest of Latin America
17. Competitive Landscape
17.1. Company market share, 2023
17.2.Key player overview
17.3. Key stakeholders
18. Company Profiles
18.1. Toyota Industries Corporation
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2. Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2.Kion Group AG
18.3.Jungheinrich AG
18.4. Crown Equipment Corporation
18.5.Mitsubishi Logisnext Co., Ltd.
18.6.Hyster-Yale Materials Handling, Inc.
18.7.Hangcha Group Co., Ltd.
18.8. Komatsu Ltd.
18.9.Anhui Forklift Group Co., Ltd.
18.10. Clark Material Handling Company
18.11. Doosan Industrial Vehicle Co., Ltd.
18.12. Hyundai Heavy Industries Co., Ltd.
18.13. NACCO Industries, Inc.
18.14. EP Equipment Co., Ltd.
18.15. Lonking Holdings Limited
18.16.Other Prominent Players
19. Appendix
20.Consultant Recommendation