Forklift Trucks Market Size, Share, Growth, 2022 Top Key Players Overview and Global Analysis Till 2027

Market share of forklifts 2022

The global forklift market is expected to reach US$82.9 billion by 2027, growing at a CAGR of 6.2% over the period 2022-2027.

SHERIDAN, WY, Sept. 23, 2022 / — According to IMARC Group’s latest report, “Forklift Trucks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global Forklift market size reached US$58.5 billion in 2021. Looking ahead, IMARC Group expects the market to reach $82.9 billion by 2027, at a CAGR of 6.2% over 2022-2027. A forklift is a gas or electric powered industrial device with a front-mounted metal fork platform used to lift heavy loads. The fork platform is used under pallets, cargo or machinery to transport, load and unload goods and materials over short distances. It consists of wheels, counterweights, a mast and a carriage. A forklift helps protect workers and increase productivity on a job site, which is why it sees significant demand in the automotive, retail, manufacturing, aerospace, transportation and construction industries.

Note: We regularly track the direct impact of COVID-19 on the market as well as the indirect impact of related industries. These observations are integrated into the report.

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Forklift Market Trends:

The fast-growing e-commerce sector due to the shift in consumer preferences towards online shopping is one of the main factors driving the market growth. Accordingly, forklifts are user-friendly, easy to maintain, and extremely economical and powerful, which in turn facilitates their use to accomplish various industrial tasks. In addition, increasing demand for electric forklifts and increasing investment in research and development (R&D) are other growth-enhancing factors. Apart from that, rapid advances in technology and an increasing number of warehouses around the world are creating a positive outlook for the market.

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Forklift Market 2022-2027 Competitive Analysis and Segmentation:

Competitive landscape with key players:

The competitive landscape of the Forklift market has been studied in the report that contains the detailed profiles of the major market players.

Some of these key players are:

• Clark Material Handling Company
• Godrej & Boyce
• Hyundai Heavy Industries Co.Ltd
• Crown Equipment Corporation
• Mitsubishi forklifts
• KION Group
• Toyota Industries Corporation
• Hyster-Yale Materials Handling Inc.
• Jungheinrich

Key Market Segmentation:

The report has segmented the global forklift truck market based on product type, technology, class, application and region.

Breakdown by product type:

• Counterbalanced forklift
• Storage forklift

Separation by technology:

• Electric powered
• Powered by an internal combustion engine

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Breakdown by class:

• Class I
• Class II
• Class III
• Class IV
• Class V

Separation by application:

• Non-industrial:
o Warehouses and distribution centers
o construction sites
o shipyards
o snow plows

• Industry:
o Manufacturing
o Recycling operation

Breakdown by region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Key highlights of the report:

• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market drivers and success factors
• Effects of COVID-19
• Value chain analysis
• Comprehensive mapping of the competitive landscape

If you require specific information that is not currently in the scope of the report, we will provide it as part of the customization.

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