Forklifts - Global Strategic Business Report

The global market for Forklifts was estimated at US$46.5 Billion in 2024 and is projected to reach US$65.1 Billion by 2030, growing at a CAGR of 5.8% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Forklifts market.

Global Forklifts Market - Key Trends and Drivers Summarized

Forklifts are industrial trucks used to lift, move, and transport materials over short distances. They are essential equipment in various industries, including warehousing, manufacturing, logistics, and construction, where they facilitate the efficient handling of heavy loads. Forklifts come in different types and configurations, including counterbalance forklifts, reach trucks, pallet jacks, and rough terrain forklifts, each designed for specific tasks and operating environments. These versatile machines are powered by various energy sources, such as internal combustion engines (diesel, gasoline, or propane) and electric batteries, allowing them to meet diverse operational needs.

The forklift industry has experienced significant advancements driven by technological innovations and evolving market demands. Modern forklifts are equipped with advanced features such as automated control systems, enhanced safety mechanisms, and improved ergonomics to boost productivity and ensure operator safety. The development of electric forklifts has been particularly noteworthy, as they offer lower operating costs, reduced emissions, and quieter operation compared to their internal combustion counterparts. Additionally, the integration of telematics and IoT (Internet of Things) technologies in forklifts allows for real-time monitoring and data analysis, optimizing fleet management and maintenance schedules.

The growth in the forklift market is driven by several factors. The rapid expansion of the e-commerce industry has significantly increased the demand for efficient material handling equipment in warehouses and distribution centers. Technological advancements, including the development of more efficient and environmentally friendly electric forklifts, have led to their widespread adoption across various sectors. The increasing focus on workplace safety and regulatory compliance has also spurred demand for advanced forklifts equipped with safety features such as stability control, collision avoidance systems, and ergonomic designs. Additionally, the growing trend towards automation and smart logistics solutions has further propelled the market, as businesses seek to enhance operational efficiency and reduce labor costs. Consumer behavior trends, such as the preference for faster delivery times and the rise of omni-channel retailing, contribute to the robust demand for forklifts.

SCOPE OF STUDY:

The report analyzes the Forklifts market in terms of units by the following Segments, and Geographic Regions/Countries:

• Segments: Power Source (Internal Combustion Engine (ICE), Electric); End-Use (Retail & Wholesale, Logistics, Food & Beverage, Automotive, Other End-Uses)
• Geographic Regions/Countries: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Retail & Wholesale segment, which is expected to reach US$23.2 Billion by 2030 with a CAGR of a 5.0%. The Logistics segment is also set to grow at 6.2% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $12.2 Billion in 2024, and China, forecasted to grow at an impressive 7.0% CAGR to reach $11.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Forklifts Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Forklifts Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Forklifts Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as Aisle-Master, Anhui HeLi Co., Ltd., ATF Forklifts, Big Lift LLC, Cargotec Finland Oy - Kalmar and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 81 companies featured in this Forklifts market report include:

• Aisle-Master
• Anhui HeLi Co., Ltd.
• ATF Forklifts
• Big Lift LLC
• Cargotec Finland Oy - Kalmar
• CESAB Material Handling Europe
• Clark Material Handling Company
• Combilift Ltd.
• Corecon Inc.
• Crown Equipment Corporation
• CVS ferrari S.P.A
• EP Equipment Co., Ltd.
• The Raymond Corporation

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.