India Forklift Market Outlook, 2022 - Product Image

India Forklift Market Outlook, 2022

  • ID: 4394826
  • Report
  • Region: India
  • 81 pages
  • Bonafide Research
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Demand of Electric Forklifts And Rental Services Will Be Major Growth Drivers for Forklift Industry in India .
India forklift market is showing optimistic growth from the last few years in terms of value as well as volume. Top international players have started setting their base in India and this is resulting into availability of new technologically advanced products and product designs. Forklifts are now designed to be more reliable, efficient and service friendly. In India, forklifts have found wide acceptance in industries, ports and warehousing sector. Infrastructure growth, Make in India campaign and GST implementation has pulled the demand in the industry. New emerging product types of battery operated electric forklifts are gaining momentum in the country. Electric forklifts are now available with many special attachments for specific applications with lower cost of ownership. Customers have started preferring electric forklifts over diesel variants.

According to "India Forklift Market Outlook, 2022", forklift market is growing with a CAGR of more than 13% from the last four years. In India, majority of forklifts are counterbalance and the rest are used as warehousing equipment forklifts. Major players operating in the industry are Godrej & Boyce, KION India (Voltas), Toyota Material Handling India, Nilkamal, Jost Engineering and Action Construction Equipment. In March 2016, Hyundai launched its forklift business in India with a complete range of forklifts and warehousing equipments. The entire range of forklift can be segregated into three categories according to their load capacity: Light duty (1 to 3 tonne), Medium duty (4 to 8 tonne), and heavy duty (10 tonne and above capacity). Light duty forklifts have been dominating in India; however a trend of medium duty forklifts will be seen in the coming few years. Demand for pollution free greener forklifts have also been increasing in the country with companies & industries becoming conscious about environmental impacts of diesel forklifts.

Industries like automobile, logistics, chemicals, pharma etc are growing enormously in the Indian economy and thus they are contributing majorly to the demand of forklifts. The market will gradually move towards electric version and eventually the diesel forklifts will remain in the outdoor applications only. Light generation trucks are high safety products with higher reliability and greater fuel efficiency. In warehouse trucks, manual movement of material is now replaced by battery operated Pallet truck. The trend is moving from reach truck to VNA and ASRS which are semi-automatic and automatic systems respectively. E-commerce has been a big boom for forklift market in India as a lot of warehousing operations got a boost because of that. Many 3PL companies, which have entered India, are doing their job very efficiently. Demand for forklifts from rental market has also been seen growing and the growth has been more aggressive from the last few years. Rental segment is dominant by unorganised players, but now the scenario is changing due to OEM providing complete solutions to the industry including rental services.

Key Product Types
  • Diesel Forklift
  • Electric/ Battery Operated Forklift
  • LPG Forklift
The report gives an in-depth understanding of forklift market in India:
  • Global Forklift Market Outlook
  • India Material Handling Equipment Market Outlook
  • India Material Handling Equipment Market Size By Value & Forecast
  • India Material Handling Equipment Market Segmental Analysis: By Product, By End User, By Production
  • India Forklift Market Outlook
  • India Forklift Market Size By Value & Forecast
  • India Forklift Market Size By Volume & Forecast
  • India Forklift Market Segmental Analysis: By Company, By Product Type, By End User, By Load Capacity
  • India Rental Forklift Market Overview
  • Product Price & Variant Analysis
  • The key vendors in this market space
  • Competitive Landscape & Strategic Recommendations
This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Report Methodology

The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of forklifts in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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1. Executive Summary

2. Global Forklift Market Outlook

3. India Material Handling Equipment Market Outlook
3.1. Market Size by Value 
3.2. Market Share
3.2.1. By Product
3.2.2. By User Segment
3.2.3. By Production 

4. India Forklift Market Outlook
4.1. Market Size 
4.1.1. By Value
4.1.2. By Volume
4.1.3. Average Selling Price 
4.2. Market Share
4.2.1. By Company
4.2.2. By End Users
4.2.3. Product Type-By Value
4.2.4. Product Type - By Volume
4.2.5. By Load Capacity - Volume Share 

5. Product Price Variant Analysis

6. India Economic Snapshot

7. Rental Forklift Market

8. Market Penetration

9. PEST Analysis

10. Policy and Regulatory Landscape

11. Trade Dynamics 
11.1. Import
11.2. Export 

12. Channel Partner Analysis

13. India Forklift Market Dynamics 
13.1. Key Drivers
13.2. Challenges 

14. Market Trends & Development
14.1. Goods and Service Taxes (GST) implementation
14.2. Manufacturing & Warehouse Industry trends
14.3. Electric forklift
14.4. Rental forklift market
14.5. Palletisation & Containerization 

15. Competitive Landscape

16. Company Profile 
16.1. Godrej & Boyce Manufacturing
16.2. KION Group (Voltas)
16.3. Action Construction Equipment Ltd (ACE)
16.4. Toyota Industries Corporation
16.5. Macneill Engineering Limited
16.6. Nilkamal Limited 16.7. Maini Group
16.8. Josts Engineering Private Limited
16.9. MHE NEXT Engineering Private Limited
16.10. Hyundai Construction Equipment Private Limited 

17. Strategic Recommendation

18. Disclaimers

List Of Figures
Figure-1: India Material handling Market Size – By Value 2011-2016 (INR Crore)
Figure-2: India Material Handling Market Size Forecast – By Value 2017F-2022F (INR Crore)
Figure-3: India Material Handling Market Share – By Company 2016
Figure-4: India Material Handling Market Share – By user segment  2016
Figure-5: India Material Handling Market Share – By Production 2016
Figure-6: India Forklift Market Size – By Value 2011-2016 (INR Crore)
Figure-7: India Forklift Market Size Forecast – By Value 2017F-2022F (INR Crore)
Figure-8: India Forklift Market Size – By Volume 2011-2016 (Units)
Figure-9: India Forklift Market Size – By Volume 2011-2016 (Units)
Figure-10: India Forklift Market Size – By ASP 2011-12 to 2015-16 (INR)
Figure-11: India Forklift Market Size – By ASP 2016-17 to 2021-22F (INR)
Figure-12: India Organised Forklift Market Share – By Company 2016
Figure-13: India Organised Forklift Market Share – By End Users 2016
Figure-14: India Forklift Market Share – Product type- By Value 2016
Figure-15: India Forklift Market Share – Product type- By Value 2021F
Figure-16: India Forklift Market Share – Product type- By Volume 2016
Figure-17: India Forklift Market Share – Product type- By Volume 2021F
Figure-18: India Forklift Market Share – Load capacity- By Volume 2016
Figure-19: India Forklift Market Share – Load capacity- By volume 2021F 
 
List Of Tables
Table-1 : Product Price variant Analysis of companies
Table-2: India Economic Profile – 2015
Table-3: List of HS Code for Various Forklift Products in India 2016
Table-4: Import duty structure for forklift products India 2016
Table-5: Import of self propelled truck powered by electric motor in India - Value & Volume 2011-12 to 2016-17
Table-6: Import of other self propelled truck in India - Value & Volume 2011-12 to 2016-17
Table-7: Import of other truck in India - Value & Volume 2011-12 to 2016-17
Table-8: Import of forklift Products in India - By Country By Volume 2016-17
Table-9: Export of Self propelled trucks Powered By electric Motor from India - Value & Volume 2011-12 to 2016-17
Table-10: Export of Other Self propelled trucks from India - Value & Volume 2011-12 to 2016-17
Table-11: Export of Other trucks from India - Value & Volume 2011-12 to 2016-17
Table-12: Import of forklift Products in India - By Country By Volume 2016-17
Table-13: Key Facts Godrej & Boyce Manufacturing Company Limited
Table-14: Key Facts KION India Private Limited
Table-15: Key Facts Action Construction Equipment Ltd
Table-16: Key Facts Toyota Material handling India pvt ltd 

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  • Godrej & Boyce Manufacturing Company Limited
  • Toyota Material Handling India Private limited
  • Action Construction Equipment Limited
  • MHE Next Engineering Private Limited
  • Josts Engineering Company Limited
  • KION India Private Limited (Voltas)
  • Macneill Engineering Limited
  • Nilkamal Limited
  • Maini Materials Movement Private Limited
  • Hyundai Construction Equipment India Private Limited
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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