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Forklift Market Size, Developments Status, Trends and Leading Players Analysis, Forecast 2027

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The global Forklift market size is expected to surpass around US$ 27.89 billion by 2027 and the market is expected to garner growth at a CAGR of 3.02% over the forecast period 2021 to 2027.

The Forklift market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2027.

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Growth Factors

Increasing safety concern of workers in the manufacturing and construction sites drives the market growth significantly. Demand for innovative material handling system for loading and transportation of products boost the market growth. Third party logistics (3PL) companies are rapidly installing forklifts in distribution centers and warehouses for fast delivery of products to the customers. Furthermore, adoption of robotic forklift is providing prominent opportunities to the seller and dealers of forklifts market. These robotic or autonomous forklifts have inbuilt sensors that can self-locate or track their route. They need not to be programmed for a specific track.

Market Report Scope

Report Coverage Details
Market Size USD 27.89 Billion by 2027
Growth Rate CAGR of 3.1% from 2021 to 2027
Bae Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2027

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Market Overview

A recent study by Precedence Research on the Forklift market offers a forecast for 2021 and 2027. The study analyzes crucial trends that are currently determining the growth of the Forklift market. This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of Forklift. The study also provides the dynamics that are responsible for influencing the future status of the Forklift market over the forecast period.

A detailed assessment of the Forklift market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the Forklift market along with their product portfolio enhances the reliability of this comprehensive research study.

Report Highlights

  • Asia Pacific held prominent market position in terms of revenue share and expected to flourish with the highest growth rate during the forecast period. The prime factor supporting the regional growth are rising trend for industrial automation and rising e-commerce business in the region. Europe is the other important region that seeks lucrative growth opportunities in the coming years.
  • Rough terrain type segment dominated the global forklift market in 2019 with significant revenue share. Their advanced feature and high load carrying capacity has made them a preferred choice in industry. They have vertical towers that can lift loads directly upward. In addition, they are designed with pneumatic tire that make them fit to work on any type of surface.
  • Electric forklift offers the highest growth aspect among other types of propulsion in the global forklift market owing to stringent government norms for harmful gas emission. Furthermore, battery-driven vehicle are more vulnerable for automation compared to diesel and internal combustion engine powered vehicles.
  • By application, industrial segment held the largest market revenue in 2019 due to significant adoption of industrial automation tools and equipment. However, logistics segment exhibits the fastest growth rate in the near future attributed to accelerating trend for online shopping and e-commerce business. Presently, in busy lifestyle common public prefer online shopping for saving their time and efforts.
  • Autonomous forklifts are the preferred choices in the industrial and construction sector to reduce workforce and therefore reducing the overall labor cost. However, many industries are still using manual forklifts for their internal operations.

Regional Snapshots

The Asia Pacific and Europe are the most promising regions in the global forklift market. Rising initiatives for industrial automation in the region along with prominent growth in the manufacturing sector drives the market growth in the regions. Furthermore, significant growth of e-commerce platform in the regions offer new market opportunities during the forecast period. As per United Nation Economic and Social Commission for Asia and the Pacific (UNESCAP), e-commerce platform exhibits a growth rate of 28% during the forecast period in the Asia Pacific region. Several industry players are also implementing autonomous forklift for reducing the workforce size and thus reducing the labor cost.

OBJECTIVES OF THE STUDY

  • To analyze and forecast the electric motor market, in terms of value and volume
  • To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To define, segment, and project the size of the global electric motor market on the product type, end-use and other segments
  • To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
  • To strategically analyze micro markets with respect to individual growth trends, growth prospects, and their contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To strategically profile key players and comprehensively analyze their core competencies
  • To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the electric motor market

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Major Players Covered in this Report

The updated market research report on electric motor market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Major key players operating in the market are

  • Komatsu Ltd.
  • Hyster-Yale Material Handling Inc.
  • Mitsubishi Forklift Corporation
  • Hyundai Heavy Industries Ltd
  • Toyota Industries Corporation
  • KION Group AG
  • Anhui Heli Co. Ltd
  • Crown Equipment Corporation
  • Comblift Limited
  • Hubtex Maschinenbau GmbH & Co. KG
  • Clark Material Handling Company
  • Hangcha Group Co. Ltd
  • Doosan Industrial Vehicle America Corporation.
  • Manitou Group
  • Konecranes
  • Lonking Forklift Co.
  • Godgej & Boyce Group
  • Unicarriers Americas

Segments Covered in the Report

By Type

  • Counterbalanced
  • Side Loaders
  • Rough Terrain
  • Powered Pallets
  • Telescopic Handler
  • Others

By Propulsion

  • Gasoline
  • Diesel
  • Hybrid Electric
  • Electric

By Operation

  • Manual
  • Autonomous

By Class

  • Class 1
  • Class 2
  • Class 3
  • Class 4
  • Class-5 & Above

By Application

  • Industrial
  • Logistics
  • Construction
  • Others

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Why should you invest in this report?

If you are aiming to enter the global Forklift market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Forklift are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027, so that you can plan your strategies to enter this market accordingly. Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Forklift Market, By Type

7.1. Forklift Market, by Type, 2020-2027
7.1.1. Counterbalanced
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Side Loaders
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Rough Terrain
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Powered Pallets
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. Telescopic Handler
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Others
7.1.6.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Forklift Market, By Operation

8.1. Forklift Market, by Operation, 2020-2027
8.1.1. Class
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Manual
8.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Forklift Market, By Propulsion Type

9.1. Forklift Market, by Propulsion Type, 2020-2027
9.1.1. Gasoline
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Diesel
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Hybrid Electric
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.4. Electric
9.1.4.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Forklift Market, By Class Type

10.1. Forklift Market, by Class Type, 2020-2027
10.1.1. Class 1
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Class 2
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. Class 3
10.1.3.1. Market Revenue and Forecast (2016-2027)
10.1.4. Class 4
10.1.4.1. Market Revenue and Forecast (2016-2027)
10.1.5. Class-5 & Above
10.1.5.1. Market Revenue and Forecast (2016-2027)

Chapter 11. Global Forklift Market, By Application Type

11.1. Forklift Market, by Propulsion Type, 2020-2027
11.1.1. Industrial
11.1.1.1. Market Revenue and Forecast (2016-2027)
11.1.2. Logistics
11.1.2.1. Market Revenue and Forecast (2016-2027)
11.1.3. Construction
11.1.3.1. Market Revenue and Forecast (2016-2027)
11.1.4. Others
11.1.4.1. Market Revenue and Forecast (2016-2027)

Chapter 12. Global Forklift Market, Regional Estimates and Trend Forecast

12.1. North America
12.1.1. Market Revenue and Forecast, by Type (2016-2027)
12.1.2. Market Revenue and Forecast, by Operation (2016-2027)
12.1.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.1.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.1.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.1.6. U.S.
12.1.6.1. Market Revenue and Forecast, by Type (2016-2027)
12.1.6.2. Market Revenue and Forecast, by Operation (2016-2027)
12.1.6.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.1.6.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.1.6.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.1.7. Rest of North America
12.1.7.1. Market Revenue and Forecast, by Type (2016-2027)
12.1.7.2. Market Revenue and Forecast, by Operation (2016-2027)
12.1.7.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.1.7.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.1.7.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Type (2016-2027)
12.2.2. Market Revenue and Forecast, by Operation (2016-2027)
12.2.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.2.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.2.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.2.6. UK
12.2.6.1. Market Revenue and Forecast, by Type (2016-2027)
12.2.6.2. Market Revenue and Forecast, by Operation (2016-2027)
12.2.6.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.2.6.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.2.6.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.2.7. Germany
12.2.7.1. Market Revenue and Forecast, by Type (2016-2027)
12.2.7.2. Market Revenue and Forecast, by Operation (2016-2027)
12.2.7.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.2.7.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.2.7.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.2.8. France
12.2.8.1. Market Revenue and Forecast, by Type (2016-2027)
12.2.8.2. Market Revenue and Forecast, by Operation (2016-2027)
12.2.8.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.2.8.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.2.8.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.2.9. Rest of Europe
12.2.9.1. Market Revenue and Forecast, by Type (2016-2027)
12.2.9.2. Market Revenue and Forecast, by Operation (2016-2027)
12.2.9.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.2.9.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.2.9.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Type (2016-2027)
12.3.2. Market Revenue and Forecast, by Operation (2016-2027)
12.3.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.3.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.3.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.3.6. India
12.3.6.1. Market Revenue and Forecast, by Type (2016-2027)
12.3.6.2. Market Revenue and Forecast, by Operation (2016-2027)
12.3.6.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.3.6.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.3.6.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.3.7. China
12.3.7.1. Market Revenue and Forecast, by Type (2016-2027)
12.3.7.2. Market Revenue and Forecast, by Operation (2016-2027)
12.3.7.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.3.7.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.3.7.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.3.8. Japan
12.3.8.1. Market Revenue and Forecast, by Type (2016-2027)
12.3.8.2. Market Revenue and Forecast, by Operation (2016-2027)
12.3.8.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.3.8.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.3.8.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.3.9. Rest of APAC
12.3.9.1. Market Revenue and Forecast, by Type (2016-2027)
12.3.9.2. Market Revenue and Forecast, by Operation (2016-2027)
12.3.9.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.3.9.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.3.9.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Type (2016-2027)
12.4.2. Market Revenue and Forecast, by Operation (2016-2027)
12.4.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.4.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.4.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.4.6. GCC
12.4.6.1. Market Revenue and Forecast, by Type (2016-2027)
12.4.6.2. Market Revenue and Forecast, by Operation (2016-2027)
12.4.6.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.4.6.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.4.6.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.4.7. North Africa
12.4.7.1. Market Revenue and Forecast, by Type (2016-2027)
12.4.7.2. Market Revenue and Forecast, by Operation (2016-2027)
12.4.7.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.4.7.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.4.7.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.4.8. South Africa
12.4.8.1. Market Revenue and Forecast, by Type (2016-2027)
12.4.8.2. Market Revenue and Forecast, by Operation (2016-2027)
12.4.8.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.4.8.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.4.8.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.4.9. Rest of MEA
12.4.9.1. Market Revenue and Forecast, by Type (2016-2027)
12.4.9.2. Market Revenue and Forecast, by Operation (2016-2027)
12.4.9.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.4.9.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.4.9.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Type (2016-2027)
12.5.2. Market Revenue and Forecast, by Operation (2016-2027)
12.5.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.5.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.5.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.5.6. Brazil
12.5.6.1. Market Revenue and Forecast, by Type (2016-2027)
12.5.6.2. Market Revenue and Forecast, by Operation (2016-2027)
12.5.6.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.5.6.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.5.6.5. Market Revenue and Forecast, by Application Type (2016-2027)
12.5.7. Rest of LATAM
12.5.7.1. Market Revenue and Forecast, by Type (2016-2027)
12.5.7.2. Market Revenue and Forecast, by Operation (2016-2027)
12.5.7.3. Market Revenue and Forecast, by Propulsion Type (2016-2027)
12.5.7.4. Market Revenue and Forecast, by Class Type (2016-2027)
12.5.7.5. Market Revenue and Forecast, by Application Type (2016-2027)

Chapter 13. Company Profiles

13.1. Komatsu Ltd.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Hyster-Yale Material Handling Inc.
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Mitsubishi Forklift Corporation
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Hyundai Heavy Industries Ltd
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Toyota Industries Corporation
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. KION Group AG
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Anhui Heli Co. Ltd
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Crown Equipment Corporation
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Comblift Limited
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Hubtex Maschinenbau GmbH & Co. KG
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
13.11. Clark Material Handling Company
13.11.1. Company Overview
13.11.2. Product Offerings
13.11.3. Financial Performance
13.11.4. Recent Initiatives
13.12. Hangcha Group Co. Ltd
13.12.1. Company Overview
13.12.2. Product Offerings
13.12.3. Financial Performance
13.12.4. Recent Initiatives
13.13. Doosan Industrial Vehicle America Corporation.
13.13.1. Company Overview
13.13.2. Product Offerings
13.13.3. Financial Performance
13.13.4. Recent Initiatives
13.14. Manitou Group
13.14.1. Company Overview
13.14.2. Product Offerings
13.14.3. Financial Performance
13.14.4. Recent Initiatives
13.15. Konecranes
13.15.1. Company Overview
13.15.2. Product Offerings
13.15.3. Financial Performance
13.15.4. Recent Initiatives
13.16. Lonking Forklift Co.
13.16.1. Company Overview
13.16.2. Product Offerings
13.16.3. Financial Performance
13.16.4. Recent Initiatives

Chapter 14. Research Methodology

14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions

Chapter 15. Appendix

15.1. About Us
15.2. Glossary of Terms

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I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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