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FEATURED COMPANIES
- Crown Equipment Corp.
- Doosan Industrial Vehicle
- Hangcha Group Co., Ltd.
- Jungheinrich AG
- KION Group AG
- MORE
Global Forklift Market Overview
The Global forklift market is anticipated to grow at a CAGR of over 9% and reach 2.2 million units by 2023 on account of application of forklift in various industries such as freight and logistics, manufacturing and construction, among others. Forklift are motorized vehicles which are used for lifting and placement of discrete loads in a specific facility. Forklifts consist of forks for precise pallet-based unit loading and can be utilized with various platforms including grippers, platforms and clamps. Technological advancements aimed towards increasing productivity is driving the global forklift market. Moreover, other factors such as growing population, increasing demand for supply chain of different products across the globe and rising globalization are anticipated to further propel demand for forklifts globally, over the coming years.
Global Forklift Market Segments
Forklifts are classified into class 1, class 2, class 3 & class 4/5. Class 3 forklift is becoming the preferred choice among buyers and the segment is poised to grow at a swift pace during forecast period as the segment includes electric warehouse pedestrian trucks which follow environmental protection policies and are thus environment friendly. On the basis of fuel type, the market for forklift is segmented into Internal Combustion (IC) engine powered, motorized hand and electric powered. Motorized hand and electric powered forklifts run on battery.
Motorized hand forklift market is estimated to grow at the CAGR of over 11% during 2018-2023. With increasing focus on fuel efficiency and emission norms, majority of forklift manufacturers are focusing on battery-operated forklifts so as to offer enhanced efficiency with lesser emissions. Forklifts are used across different applications such as wholesale & retail distribution, manufacturing, freight & logistics and others. Of all, freight & logistics is anticipated to witness the fastest growth during forecast period owing to booming e-commerce sector which caters to various product segments such as apparels, cosmetics, etc., thereby resulting in rising need for distribution centers and warehouses.
Global Forklift Market Regional Insights
The Global forklift market is gaining traction and is expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East & Africa. Asia-Pacific and Europe are the major demand generating regions in the global forklift market owing to surging demand for new airports, seaports, and road construction in the regions. Moreover, increasing penetration of e-commerce companies in countries like India & China is further bolstering the growth of forklift market in the region.
Global Forklift Market Competitive Landscape
Major players operating in the global forklift market include Toyota Industries Corporation, Kion Group AG, Jungheinrich AG, Mitsubishi Logisnext Co., Ltd., Crown Equipment Corp., Hyster-Yale Materials Handling, Inc., Anhui Forklift Truck Group Co., Ltd., Hangcha Group Co., Ltd., Doosan Industrial Vehicle, and Clark Material Handling International, Inc. Major companies are developing advanced technologies and launching new products in order to remain competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. In 2016, Kion Group acquired Dematic, a best-in-class automation provider and specialist in supply chain optimization.
Years considered for this report:
Historical Years: 2013-2016
Base Year: 2017
Estimated Year: 2018
Forecast Period: 2019-2023
Objective of the Study:
- To analyze and forecast the market size of the global forklift market.
- To classify and forecast the global forklift market based on fuel type, class type, application, company and regional distribution.
- To identify drivers and challenges for the global forklift market.
- To identify and analyze the profile of leading players operating in the global forklift market.
Some of the leading players in the global forklift market are Toyota Industries Corporation, Kion Group AG, Jungheinrich AG, Mitsubishi Logisnext Co., Ltd., Crown Equipment Corp., Hyster-Yale Materials Handling, Inc., Anhui Forklift Truck Group Co., Ltd., Hangcha Group Co., Ltd., Doosan Industrial Vehicle, Clark Material Handling International, Inc., etc.
The author performed both primary as well as exhaustive secondary research for this study, initially, sourcing a list of manufacturers across the globe. Subsequently, the author conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the author could include the manufacturers which could not be identified due to the limitations of secondary research. The author analyzed the service offerings, distribution channels and presence of all major manufacturers across the globe.
The author calculated the market size of the global forklift market using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. The author sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.
Key Target Audience:
- Forklift manufacturers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to forklift market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturer and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, the global forklift market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, By Class Type:
- Class 1
- Class 2
- Class 3
- Class4/5
Market, By Fuel Type:
- IC Engine Powered
- Motorized Hand
- Electric Powered
Market, By Application:
- Wholesale & Retail Distribution
- Manufacturing
- Freight & Logistics
- Others
Market, By Region:
- Asia-Pacific
- - China
- - India
- - Japan
- - Australia
- - Rest of Asia-Pacific
- Europe
- - Germany
- - United Kingdom
- - France
- - Turkey
- - Spain
- - Italy
- - Rest of Europe
- North America
- - United States
- - Mexico
- - Canada
- Middle East & Africa
- - South Africa
- - Iran
- - Qatar
- - Saudi Arabia
- - UAE
- - Rest of Middle East & Africa
- South America
- - Brazil
- - Argentina
- - Colombia
- - South Africa
- - Rest of South America
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global forklift market.
Available Customizations:
With the given market data, the author offers customizations according the company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
*Note - Custom Research License:
For both the Single and Enterprise user license, 10% report specific customization is available free of any additional cost, as above. However, alternatively, if you are looking for additional content data or insight related to the scope of the report, you may purchase the new “Custom Research License”. Please enquire for pricing.
The custom research will be delivered in printable PDF format along with the report’s data excel sheet. This license offers 80 analyst hours. It is strongly recommended for an organization which wants to execute short ‘bespoke’ research projects related to the scope of the purchased report.
FEATURED COMPANIES
- Crown Equipment Corp.
- Doosan Industrial Vehicle
- Hangcha Group Co., Ltd.
- Jungheinrich AG
- KION Group AG
- MORE
2. Research Methodology
3. Analyst View
4. Voice of Customer
4.1. Factors Influencing Purchase Decision
4.2. Brand Recall (Aided/Unaided)
4.3. Brand Switching Attribute
4.4. Brand Satisfaction Level
5. Global Forklift Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Class Type (Class1, Class2, Class3 & Class4/5)
5.2.2. By Fuel Type (IC Engine Powered, Motorized Hand & Electric Powered)
5.2.3. By Application Type (Wholesale & Retail Distribution, Manufacturing, Freight & Logistics and Others)
5.2.4. By Company
5.2.5. By Region
5.3. Market Attractiveness Index (By Fuel Type)
5.4. Market Attractiveness Index (By Region)
6. Asia-Pacific Forklift Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Class Type
6.2.2. By Fuel Type
6.2.3. By Application Type
6.2.4. By Country
6.3. Market Attractiveness Index (By Fuel Type)
6.4. Market Attractiveness Index (By Country)
6.5. Asia-Pacific: Country Analysis
6.5.1. China Forklift Market Outlook
6.5.1.1. Market Size & Forecast
6.5.1.1.1. By Value & Volume
6.5.1.2. Market Share & Forecast
6.5.1.2.1. By Class Type
6.5.1.2.2. By Fuel Type
6.5.1.2.3. By Application Type
6.5.1.3. Market Attractiveness Index (By Fuel Type)
6.5.2. Japan Forklift Market Outlook
6.5.2.1. Market Size & Forecast
6.5.2.1.1. By Value & Volume
6.5.2.2. Market Share & Forecast
6.5.2.2.1. By Class Type
6.5.2.2.2. By Fuel Type
6.5.2.2.3. By Application Type
6.5.2.3. Market Attractiveness Index (By Fuel Type)
6.5.3. Australia Forklift Market Outlook
6.5.3.1. Market Size & Forecast
6.5.3.1.1. By Value & Volume
6.5.3.2. Market Share & Forecast
6.5.3.2.1. By Class Type
6.5.3.2.2. By Fuel Type
6.5.3.2.3. By Application Type
6.5.3.3. Market Attractiveness Index (By Fuel Type)
6.5.4. India Forklift Market Outlook
6.5.4.1. Market Size & Forecast
6.5.4.1.1. By Value & Volume
6.5.4.2. Market Share & Forecast
6.5.4.2.1. By Class Type
6.5.4.2.2. By Fuel Type
6.5.4.2.3. By Application Type
6.5.4.3. Market Attractiveness Index (By Fuel Type)
7. Europe Forklift Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Class Type
7.2.2. By Fuel Type
7.2.3. By Application Type
7.2.4. By Country
7.3. Market Attractiveness Index (By Fuel Type)
7.4. Market Attractiveness Index (By Country)
7.5. Europe: Country Analysis
7.5.1. Germany Forklift Market Outlook
7.5.1.1. Market Size & Forecast
7.5.1.1.1. By Value & Volume
7.5.1.2. Market Share & Forecast
7.5.1.2.1. By Class Type
7.5.1.2.2. By Fuel Type
7.5.1.2.3. By Application Type
7.5.1.3. Market Attractiveness Index (BY Fuel Type)
7.5.2. France Forklift Market Outlook
7.5.2.1. Market Size & Forecast
7.5.2.1.1. By Value & Volume
7.5.2.2. Market Share & Forecast
7.5.2.2.1. By Class Type
7.5.2.2.2. By Fuel Type
7.5.2.2.3. By Application Type
7.5.2.3. Market Attractiveness Index (By Fuel Type)
7.5.3. Italy Forklift Market Outlook
7.5.3.1. Market Size & Forecast
7.5.3.1.1. By Value & Volume
7.5.3.2. Market Share & Forecast
7.5.3.2.1. By Class Type
7.5.3.2.2. By Fuel Type
7.5.3.2.3. By Application Type
7.5.3.3. Market Attractiveness Index (By Fuel Type)
7.5.4. Spain Forklift Market Outlook
7.5.4.1. Market Size & Forecast
7.5.4.1.1. By Value & Volume
7.5.4.2. Market Share & Forecast
7.5.4.2.1. By Class Type
7.5.4.2.2. By Fuel Type
7.5.4.2.3. By Application Type
7.5.4.3. Market Attractiveness Index (By Fuel Type)
7.5.5. United Kingdom Forklift Market Outlook
7.5.5.1. Market Size & Forecast
7.5.5.1.1. By Value & Volume
7.5.5.2. Market Share & Forecast
7.5.5.2.1. By Class Type
7.5.5.2.2. By Fuel Type
7.5.5.2.3. By Application Type
7.5.5.3. Market Attractiveness Index (By Fuel Type)
7.5.6. Turkey Forklift Market Outlook
7.5.6.1. Market Size & Forecast
7.5.6.1.1. By Value & Volume
7.5.6.2. Market Share & Forecast
7.5.6.2.1. By Class Type
7.5.6.2.2. By Fuel Type
7.5.6.2.3. By Application Type
7.5.6.3. Market Attractiveness Index (By Fuel Type)
8. North America Forklift Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Class Type
8.2.2. By Fuel Type
8.2.3. By Application Type
8.2.4. By Country
8.3. Market Attractiveness Index (By Fuel Type)
8.4. Market Attractiveness Index (By Country)
8.5. North America: Country Analysis
8.5.1. United States Forklift Market Outlook
8.5.1.1. Market Size & Forecast
8.5.1.1.1. By Value & Volume
8.5.1.2. Market Share & Forecast
8.5.1.2.1. By Class Type
8.5.1.2.2. By Fuel Type
8.5.1.2.3. By Application Type
8.5.1.3. Market Attractiveness Index (By Fuel Type)
8.5.2. Mexico Forklift Market Outlook
8.5.2.1. Market Size & Forecast
8.5.2.1.1. By Value & Volume
8.5.2.2. Market Share & Forecast
8.5.2.2.1. By Class Type
8.5.2.2.2. By Fuel Type
8.5.2.2.3. By Application Type
8.5.2.3. Market Attractiveness Index (By Fuel Type)
8.5.3. Canada Forklift Market Outlook
8.5.3.1. Market Size & Forecast
8.5.3.1.1. By Value & Volume
8.5.3.2. Market Share & Forecast
8.5.3.2.1. By Class Type
8.5.3.2.2. By Fuel Type
8.5.3.2.3. By Application Type
8.5.3.3. Market Attractiveness Index (By Fuel Type)
9. South America Forklift Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Class Type
9.2.2. By Fuel Type
9.2.3. By Application Type
9.2.4. By Country
9.3. Market Attractiveness Index (By Fuel Type)
9.4. Market Attractiveness Index (By Country)
9.5. South America: Country Analysis
9.5.1. Brazil Forklift Market Outlook
9.5.1.1. Market Size & Forecast
9.5.1.1.1. By Value & Volume
9.5.1.2. Market Share & Forecast
9.5.1.2.1. By Class Type
9.5.1.2.2. By Fuel Type
9.5.1.2.3. By Application Type
9.5.1.3. Market Attractiveness Index (By Fuel Type)
9.5.2. Argentina Forklift Market Outlook
9.5.2.1. Market Size & Forecast
9.5.2.1.1. By Value & Volume
9.5.2.2. Market Share & Forecast
9.5.2.2.1. By Class Type
9.5.2.2.2. By Fuel Type
9.5.2.2.3. By Application Type
9.5.2.3. Market Attractiveness Index (By Fuel Type)
9.5.3. Colombia Forklift Market Outlook
9.5.3.1. Market Size & Forecast
9.5.3.1.1. By Value & Volume
9.5.3.2. Market Share & Forecast
9.5.3.2.1. By Class Type
9.5.3.2.2. By Fuel Type
9.5.3.2.3. By Application Type
9.5.3.3. Market Attractiveness Index (By Fuel Type)
10. Middle East & Africa Forklift Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Class Type
10.2.2. By Fuel Type
10.2.3. By Application Type
10.2.4. By Country
10.3. Market Attractiveness Index (By Fuel Type)
10.4. Market Attractiveness Index (By Country)
10.5. Middle East & Africa: Country Analysis
10.5.1. South Africa Forklift Market Outlook
10.5.1.1. Market Size & Forecast
10.5.1.1.1. By Value & Volume
10.5.1.2. Market Share & Forecast
10.5.1.2.1. By Class Type
10.5.1.2.2. By Fuel Type
10.5.1.2.3. By Application Type
10.5.1.3. Market Attractiveness Index (By Fuel Type)
10.5.2. UAE Forklift Market Outlook
10.5.2.1. Market Size & Forecast
10.5.2.1.1. By Value & Volume
10.5.2.2. Market Share & Forecast
10.5.2.2.1. By Class Type
10.5.2.2.2. By Fuel Type
10.5.2.2.3. By Application Type
10.5.2.3. Market Attractiveness Index (By Fuel Type)
10.5.3. Saudi Arabia Forklift Market Outlook
10.5.3.1. Market Size & Forecast
10.5.3.1.1. By Value & Volume
10.5.3.2. Market Share & Forecast
10.5.3.2.1. By Class Type
10.5.3.2.2. By Fuel Type
10.5.3.2.3. By Application Type
10.5.3.3. Market Attractiveness Index (By Fuel Type)
10.5.4. Iran Forklift Market Outlook
10.5.4.1. Market Size & Forecast
10.5.4.1.1. By Value & Volume
10.5.4.2. Market Share & Forecast
10.5.4.2.1. By Class Type
10.5.4.2.2. By Fuel Type
10.5.4.2.3. By Application Type
10.5.4.3. Market Attractiveness Index (By Fuel Type)
10.5.5. Qatar Forklift Market Outlook
10.5.5.1. Market Size & Forecast
10.5.5.1.1. By Value & Volume
10.5.5.2. Market Share & Forecast
10.5.5.2.1. By Class Type
10.5.5.2.2. By Fuel Type
10.5.5.2.3. By Application Type
10.5.5.3. Market Attractiveness Index (By Fuel Type)
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. Competitive Landscape
13.1. Toyota Industries Corporation
13.2. KION Group AG
13.3. Jungheinrich AG
13.4. Mitsubishi Logisnext Co., Ltd.
13.5. Crown Equipment Corp.
13.6. Hyster-Yale Materials Handling, Inc.
13.7. Anhui Forklift Truck Group Co., Ltd.
13.8. Hangcha Group Co., Ltd.
13.9. Doosan Industrial Vehicle
13.10. Clark Material Handling International, Inc.
14. Strategic Recommendations
*Full List of Figures and Tables Available on Enquiry.
- Toyota Industries Corporation
- KION Group AG
- Jungheinrich AG
- Mitsubishi Logisnext Co., Ltd.
- Crown Equipment Corp.
- Hyster-Yale Materials Handling, Inc.
- Anhui Forklift Truck Group Co., Ltd.
- Hangcha Group Co., Ltd.
- Doosan Industrial Vehicle
- Clark Material Handling International, Inc.
