Forklifts Global Market Report 2022: Electric Forklifts Experience Impressive Makeover with Sophisticated Technology

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Global Market for Forklifts

Global Market for Forklifts

Dublin, Nov. 02, 2022 (GLOBE NEWSWIRE) -- The "Forklifts - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Forklifts Market to Reach $53.2 Billion by 2027

Amid the COVID-19 crisis, the global market for Forklifts estimated at US$37.9 Billion in the year 2020, is projected to reach a revised size of US$53.2 Billion by 2027, growing at a CAGR of 5% over the period 2020-2027. Internal Combustion Engine (ICE), one of the segments analyzed in the report, is projected to record 4.6% CAGR and reach US$35.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Electric segment is readjusted to a revised 5.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $10.4 Billion, While China is Forecast to Grow at 6.2% CAGR

The Forklifts market in the U.S. is estimated at US$10.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$9.5 Billion by the year 2027 trailing a CAGR of 6.2% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.

Select Competitors (Total 81 Featured)

• Anhui Heli Co., Ltd.

• CLARK Material Handling Company (CMHC)- Combilift Ltd.

• Crown Equipment Corporation

• Godrej Material Handling

• HANGCHA GROUP CO., LTD

• Hyster-Yale Materials Handling, Inc.

• Jungheinrich AG

• KION Group AG

• Komatsu Ltd.

• Lonking Holdings Limited

• Mitsubishi Logisnext Co., Ltd.

• Toyota Industries Corporation

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Increasing Popularity of Fuel Cell-powered Forklifts to Drive Global Forklift Market

• Myriad Benefits to Broaden Battery-operated Forklifts Application

• Automated Forklifts Rise in Prominence

• Electric Forklifts Gain Traction

• Emphasis on Green Warehousing Steers Demand for Electric Forklifts

• Electric Forklifts Experience Impressive Makeover with Sophisticated Technology

• COVID-19 Glitches Hustle Forklift Users to Embrace Electric Versions

• Forklift Tires Market: Characterized by Growing Demand for Solid and Non-Marking Tires

• Lift Truck Become a Part of the Connected Enterprise Ecosystem

• Forklifts Emerge as an Important Material Handling System for the Logistics and Shipping Industry

• Third Party Logistics (3PL): Expanding in Industrial Manufacturing, Retail and Wholesale Sectors

• Expanding Retail Industry Generates Significant Opportunities

• Transition of Material Handling Operations in Automobile Industry Augurs Well for Forklifts Market

• How Automotive Industry Continues to be Impacted by the Pandemic & What's the New Normal?

• With Global E-Commerce Sales Skyrocketing, Growth in E-Commerce Warehouses Spurs Need for Forklifts

• Online Shopping Trend and Need to Improve Warehouse Efficiencies Drive Investments into Forklifts

• Great Technological Strides for Lift Trucks Used in Cold Storage Warehouses

• Safety Strategies for Operators to Minimize Forklift Accidents' Risk in Warehouses

• Anticipated Growth of Construction Sector to Present Favorable Outlook for Forklifts

• Technological Advancements Accelerate Market Expansion

• Technological Developments also Aim at Increasing Productivity

• Key Challenges

• Manufactures Face Challenges Producing Rough-Terrain Forklifts

• Introduction of Robotic based Humanless Warehouse: A Threat to the Market

• Rising Concerns over Forklift-related Safety Issues Restrain Market Growth

• Regulatory Framework in the Forklift Sector

• Percentage Breakdown of Number of Fatalities Attributed to Forklifts by Type of Accident in the US

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

• Forklifts Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

• An Overview of Material Handling Equipment Market

• United States Material Handling Equipment Market Share Breakdown by Segment: 2021

• North American Market Bears Severe Blow of COVID-19

• Developing E-Commerce Industry Drives Growth in Automated Systems

• E-Commerce Retail Sales in the US as % of Total Retail Sales (2015-2022)

• Focus Heightens on Sustainable Solutions

• Demand on Rise for Electric Forklifts

• Competitive Landscape

CANADA

JAPAN

CHINA

• Forklifts Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

• Market Overview

• Chinese Material Handling Equipment Market by Segment: Percentage Breakdown of Sales for 2021

• Chinese Forklift Manufacturers Aim for Overseas Markets

EUROPE

• Forklifts Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

• Market Overview

• European Material Handling Equipment Market Share Breakdown by Segment: 2021

FRANCE

GERMANY

ITALY

UNITED KINGDOM

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

AFRICA

IV. COMPETITION

• Total Companies Profiled: 81

For more information about this report visit https://www.researchandmarkets.com/r/mz1ity

Attachment

• Global Market for Forklifts

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