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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
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

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