Forklift Truck Market Growth Trend & Forecast with latest research study released by Delvens evaluating the market risk side analysis, highlighting opportunities, and leveraging strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global market.
The forklift trucks market was valued at USD 43 billion in 2020, and it is expected to reach a CAGR of over 4.9% during the forecast to 2028.
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Forklift trucks are equipment for material processing. They’re the most prevalent industrial lift trucks on the market. They are the workhorses of material handling due of their versatility, which includes (i) indoor/outdoor operation on a range of surfaces, (ii) load capabilities, and (iii) attachments.
A forklift truck is a type of motorized industrial truck. It aims to move and transport, push, pull and pull a material load and then stack it or store it in a warehouse rack, like other industrial trucks do. Forklift trucks are available in a variety of sizes and capacities. They can run on batteries or internal combustion engines that run on diesel or gaseous fuel.
The expansion of the construction sector, combined with rapid industrialization is the major factor that has supported long-term expansion for Forklift Truck Market.
Regional Analysis
Asia-Pacific dominates the forklift truck market because of the huge need for forklift trucks from advancing nations. The increase in industrialization is one of the factors that are expected to aid the growth of the forklift trucks market.
Key Players
· Toyota Industries Corporation
· Crown Equipment Corporation
· Kion Group AG
· Hyster-Yale Materials Handling Inc.
· Hyundai Heavy Industries
· Jungheinrich AG
· Anhui Forklift Truck
· Doosan Industrial Vehicle
· Godrej & Boyce Manufacturing
· Hangcha Group. And More
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Recent Developments
In July 2021, Hangcha has launched its new XH series 2.0t-3.5t electric forklift truck with high voltage lithium-ion batteries. these trucks are integrated with high voltage lithium batteries, which can be fully charged within one hour and perform up to 12 hours. Furthermore, with a rapid charging facility, these can be charged during regular work breaks, which will run for the entire day with no extra battery exchange.
In July 2021, KION Group AG has set up a new industrial truck plant in the Polish town of Kołbaskowo, near Szczecin. The site will produce counterbalance trucks for all brand companies within the KION Industrial Trucks & Services segment.
Forklift Truck Market is segmented into power train type, vehicle class, end user vertical and region.
On the basis of Power-Train Type
· Internal combustion engine
· Electric motor
On the basis of Vehicle Class
· Class I
· Class II
· Class III
· Class IV
On the basis of End-User Vertical
· Industrial
· Construction
· Manufacturing
On the basis of Region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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· Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
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· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
In addition to the market data for Forklift Truck Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement.
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