Dublin, Nov. 12, 2020 (GLOBE NEWSWIRE) -- The "Forklift Market Research Report: By Class (Class 1, Class 2, Class 3, Class 4, Class 5), Product (Counterbalance, Warehouse), Engine Type (Internal Combustion Engine, Electric) - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
There has been a sharp rise in the global e-commerce sales over the last few years. According to the findings of the drop shipping company, Oberlo, the total e-commerce sales all over the world generated a revenue of over $3.5 trillion in 2019. According to industry experts, this number will rise even more in the coming years, because of the growing penetration of the internet, rising usage of smartphones, and the mushrooming popularity of online shopping across the world.
This rapid growth of the e-commerce industry is directly pushing up the requirement for efficient warehouse and logistics operations. This is because the rising consumer base and expectations are boosting the demand for faster product delivery. As a result, e-commerce companies are developing new strategies, including investing heavily in autonomous and electric forklifts. The adoption of these systems in warehouses and logistics will speed up the loading and picking up processes of products as well as reduce the delivery time.
Hence, with the ballooning usage of forklifts in e-commerce operations, the global forklift market will surge from $33,878.7 million to $42,519.4 million from 2019 to 2030, advancing at a CAGR of 2.8% during 2020 - 2030. Depending on class, the market is divided into class 5, class 4, class 3, class 2, and class 1 categories, out of which, the class 5 category recorded the highest growth in the market in the past.
The large-scale usage of class 5 forklifts in heavy lifting applications in emerging economies such as India, China, Mexico, and Brazil caused the high growth of the category. When engine type is taken into consideration, the forklift market is divided into electric and internal combustion engine (ICE). Of these, the electric category will exhibit faster growth in the market, in terms of value, in the upcoming years, primarily because of the burgeoning demand for eco-friendly forklifts in factories and warehouses.
According to the findings of the market research company the large-scale deployment of forklifts in factories and warehouses for reducing labor costs and increasing efficiency caused the boom of the forklift market in Asia-Pacific (APAC) in the years gone by. These systems were mostly used in repetitive material handling operations in warehouses. In addition to this, forklifts were also used heavily for transporting heavy products around large buildings such as warehouses and factories in the last few years.
Hence, it can be said without any hesitation that the sales of forklifts will go up sharply all over the world in the forthcoming years, primarily because of the growing requirement for automated solutions in warehouses and factories across the world.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Class
1.3.2 Market Segmentation by Product
1.3.3 Market Segmentation by Engine Type
1.3.4 Market Segmentation by Geography
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Volume
1.3.6.2 Value
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By industry participant
2.2.1.2 By region
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Class
4.1.1.1 Class 1
4.1.1.2 Class 2
4.1.1.3 Class 3
4.1.1.4 Class 4
4.1.1.5 Class 5
4.1.2 By Product
4.1.2.1 Counterbalanced
4.1.2.2 Warehouse
4.1.3 By Engine Type
4.1.3.1 Internal Combustion Engine (ICE)
4.1.3.2 Electric
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Growing demand for battery-operated forklifts
4.3.1.2 Increasing partnerships and market consolidations
4.3.2 Drivers
4.3.2.1 Rising e-commerce industry
4.3.2.2 Technological advancements
4.3.2.3 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Rising safety concerns for workers and staff
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Growing demand in emerging economies
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Intensity of Rivalry
4.4.4 Threat of New Entrants
4.4.5 Threat of Substitutes
Chapter 5. Global Market Size and Forecast
5.1 By Class
5.2 By Product
5.3 By Engine Type
5.4 By Region
Chapter 6. North America Market Size and Forecast
6.1 By Class
6.2 By Product
6.3 By Engine Type
6.4 By Country
Chapter 7. Europe Market Size and Forecast
7.1 By Class
7.2 By Product
7.3 By Engine Type
7.4 By Country
Chapter 8. APAC Market Size and Forecast
8.1 By Class
8.2 By Product
8.3 By Engine Type
8.4 By Country
Chapter 9. LAMEA Market Size and Forecast
9.1 By Class
9.2 By Product
9.3 By Engine Type
9.4 By Country
Chapter 10. Major Markets
10.1 China
10.1.1 By Class
10.2 U.S.
10.2.1 By Class
10.3 Germany
10.3.1 By Class
10.4 U.K.
10.4.1 By Class
10.5 Japan
10.5.1 By Class
Chapter 11. Competitive Landscape
11.1 List of Players and Their Offerings
11.2 Market Share Analysis of Key Players
11.3 Comparison of Key Players
11.4 Global Strategic Developments in the Market
11.4.1 Mergers and Acquisitions Partnerships
11.4.2 Partnerships
11.4.3 Product Launches
11.4.4 Facility Expansions
11.4.5 Client Wins
Chapter 12. Company Profiles
12.1 Toyota Industries Corp.
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 Key Financial Summary
12.2 KION GROUP AG
12.2.1 Business Overview
12.2.2 Product and Service Offerings
12.2.3 Key Financial Summary
12.3 Jungheinrich AG
12.3.1 Business Overview
12.3.2 Product and Service Offerings
12.3.3 Key Financial Summary
12.4 Hyster-Yale Materials Handling, Inc.
12.4.1 Business Overview
12.4.2 Product and Service Offerings
12.4.3 Key Financial Summary
12.5 Crown Equipment Corp.
12.5.1 Business Overview
12.5.2 Product and Service Offerings
12.6 Mitsubishi Logisnext Co. Ltd.
12.6.1 Business Overview
12.6.2 Product and Service Offerings
12.6.3 Key Financial Summary
12.7 Anhui Heli Co. Ltd.
12.7.1 Business Overview
12.7.2 Product and Service Offerings
12.7.3 Key Financial Summary
12.8 Hangcha Group Co. Ltd.
12.8.1 Business Overview
12.8.2 Product and Service Offerings
12.8.3 Key Financial Summary
12.9 Komatsu Ltd.
12.9.1 Business Overview
12.9.2 Product and Service Offerings
12.9.3 Key Financial Summary
12.10 Doosan Corp.
12.10.1 Business Overview
12.10.2 Product and Service Offerings
12.10.3 Key Financial Summary
Chapter 13. Appendix
13.1 Abbreviations
13.2 Sources and References
13.3 Related Reports
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