Dublin, Feb. 04, 2022 (GLOBE NEWSWIRE) -- The "Forklift Truck Market by Power Source, by Class, and by End User - Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
At an estimated value of over USD 2.06 billion in 2021, the global forklift truck market is predicted to thrive at a CAGR of 9.5% to be valued at USD 4.65 billion. Forklift trucks are powered vehicles designed to move or carry heavy objects over a limited distance. Adoption of forklift trucks is popular among industries affiliated with the loading and unloading of goods. These vehicles are commonly used in dockyards, warehouses, and recycling factories among others. These vehicles are used with some attachments such as platforms and grippers for efficient handling of goods and are classified based on their weight bearing capacity.
Market Dynamics and Trends
Rising investments by the market players is expected to drive the market growth. Recent developments in the e-commerce business have created a need for bulk warehousing, which in turn has influenced the growth of forklift truck market. Advantages offered by forklift trucks such as time saving and increased efficiency are also expected to boost their adoption in various industries. Other benefits such as reduced chances of accidents and injuries related to forklifts on work site and rising demand for easy movement and organization of goods are expected to add additional revenue to the forklift truck market. Moreover, technological advancements coupled with the development of infrastructure are expected to further influence market growth. However, high cost of forklift trucks is anticipated to hamper the market growth within the forecast period.
Market Segmentations and Scope of the Study:
The global forklift truck market is segmented on the basis of power source, class, end use and geography. On the basis of power, source the market is segmented into IC engine powered and electric powered. On the basis of class, the market is segmented into class 1, class 2, class 3, class 4, class 5 and others. On the basis of end use, the market is segmented into retail & wholesale, logistics, automotive, food industry and other end use. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.
Geographical Analysis
North America is anticipated to hold the lion share of the market due to improved infrastructure and increased industrialization in this region. Also, rapid adoption of forklifts into numerous industries is expected to add revenue to the forklift truck market. Asia Pacific region is predicted to show rapid and consistent growth in terms of market share within the forecast period due to increase in demand for automation in developing countries. Also, factors such as improving economy as well as rise in urbanization are anticipated to further drive market growth in this region.
Competitive Landscape
Lucrative growth opportunities make the forklift truck market extremely competitive. Some of the major players in the market include Crown Equipment Corporation, EP Equipment, Hangcha, Hyster-Yale Material Handling, Inc., Jungheinrich AG, Kion Group AG, Komatsu Ltd., Lonking Machinery Co., Ltd., Mitsubishi Logisnext Co., Ltd., Toyota Industries Corporation, and others. Strategic alliances, and innovative product launches are key strategies adopted by market players to maintain their market dominance.
Key Topics Covered:
1. Introduction
2. Forklift Truck Market - Executive Summary
3. Market Overview
3.1. Market Definition and Scope
3.2. Market Dynamics
3.2.1 Drivers
3.2.1.1. Rise in Investment Across the Infrastructure Development
3.2.1.2. Expansion of E-Commerce Industry
3.2.1.3. Benefits Offered by Forklift Trucks
3.2.2 Restraints
3.2.2.1. High Cost and Safety Issues Associated With Forklift Trucks
3.2.3 Opportunities
3.2.3.1. Emergence & Proliferation of Hydrogen Fuel Cell Forklifts
4. COVID-19 Impact Analysis
4.1. Impact on Market Size
4.2. End-user Trends & Preferences, and Budget & Economic Impact
4.3. Key Player Strategies to Tackle COVID-19's Influence on Market
5. Market Share Analysis
5.1. Market Share Analysis of Top 10 Forklift Truck Providers, 2020
6. Global Forklift Truck Market, by Class Type
6.1. Overview
6.2. Class 1
6.2.1 Class 1 Market, by Region
6.2.1.1. North America Class 1 Market, by Country
6.2.1.2. Europe Class 1 Market, by Country
6.2.1.3. Asia-Pacific Class 1 Market, by Country
6.2.1.4. Rest of the World Class 1 Market, by Country
6.3. Class 2
6.3.1 Class 2 Market, by Region
6.3.1.1. North America Class 2 Market, by Country
6.3.1.2. Europe Class 2 Market, by Country
6.3.1.3. Asia-Pacific Class 2 Market, by Country
6.3.1.4. Rest of the World Class 2 Market, by Country
6.4. Class 3
6.4.1 Class 3 Market, by Region
6.4.1.1. North America Class 3 Market, by Country
6.4.1.2. Europe Class 3 Market, by Country
6.4.1.3. Asia-Pacific Class 3 Market, by Country
6.4.1.4. Rest of the World Class 3 Market, by Country
6.5. Class 4
6.5.1 Class 4 Market, by Region
6.5.1.1. North America Class 4 Market, by Country
6.5.1.2. Europe Class 4 Market, by Country
6.5.1.3. Asia-Pacific Class 4 Market, by Country
6.5.1.4. Rest of the World Class 4 Market, by Country
6.6. Class 5
6.6.1 Class 5 Market, by Region
6.6.1.1. North America Class 5 Market, by Country
6.6.1.2. Europe Class 5 Market, by Country
6.6.1.3. Asia-Pacific Class 5 Market, by Country
6.6.1.4. Rest of the World Class 5 Market, by Country
7. Global Forklift Truck Market, by Product
7.1. Overview
7.2. Counterbalance Forklift
7.2.1 Counterbalance Forklift Market, by Region
7.2.1.1. North America Counterbalance Forklift Market, by Country
7.2.1.2. Europe Counterbalance Forklift Market, by Country
7.2.1.3. Asia-Pacific Counterbalance Forklift Market, by Country
7.2.1.4. Rest of the World Counterbalance Forklift Market, by Country
7.3. Reach Forklift
7.3.1 Reach Forklift Market, by Region
7.3.1.1. North America Reach Forklift Market, by Country
7.3.1.2. Europe Reach Forklift Market, by Country
7.3.1.3. Asia-Pacific Reach Forklift Market, by Country
7.3.1.4. Rest of the World Reach Forklift Market, by Country
8. Global Forklift Truck Market, by Engine
8.1. Overview
8.2. Ic Engine Powered
8.2.1 Ic Engine Powered Market, by Region
8.2.1.1. North America Ic Engine Powered Market, by Country
8.2.1.2. Europe Ic Engine Powered Market, by Country
8.2.1.3. Asia-Pacific Ic Engine Powered Market, by Country
8.2.1.4. Rest of the World Ic Engine Powered Market, by Country
8.3. Electric Powered
8.3.1 Electric Powered Market, by Region
8.3.1.1. North America Electric Powered Market, by Country
8.3.1.2. Europe Electric Powered Market, by Country
8.3.1.3. Asia-Pacific Electric Powered Market, by Country
8.3.1.4. Rest of the World Electric Powered Market, by Country
9. Global Forklift Truck Market, by End-user
9.1. Overview
9.2. Retail and Wholesale
9.2.1 Retail and Wholesale Market, by Region
9.2.1.1. North America Retail and Wholesale Market, by Country
9.2.1.2. Europe Retail and Wholesale Market, by Country
9.2.1.3. Asia-Pacific Retail and Wholesale Market, by Country
9.2.1.4. Rest of the World Retail and Wholesale Market, by Country
9.3. Logistics
9.3.1 Logistics Market, by Region
9.3.1.1. North America Logistics Market, by Country
9.3.1.2. Europe Logistics Market, by Country
9.3.1.3. Asia-Pacific Logistics Market, by Country
9.3.1.4. Rest of the World Logistics Market, by Country
9.4. E-Commerce
9.4.1 E-Commerce Market, by Region
9.4.1.1. North America E-Commerce Market, by Country
9.4.1.2. Europe E-Commerce Market, by Country
9.4.1.3. Asia-Pacific E-Commerce Market, by Country
9.4.1.4. Rest of the World E-Commerce Market, by Country
9.5. Automotive
9.5.1 Automotive Market, by Region
9.5.1.1. North America Automotive Market, by Country
9.5.1.2. Europe Automotive Market, by Country
9.5.1.3. Asia-Pacific Automotive Market, by Country
9.5.1.4. Rest of the World Automotive Market, by Country
9.6. Food Industry
9.6.1 Food Industry Market, by Region
9.6.1.1. North America Food Industry Market, by Country
9.6.1.2. Europe Food Industry Market, by Country
9.6.1.3. Asia-Pacific Food Industry Market, by Country
9.6.1.4. Rest of the World Food Industry Market, by Country
9.7. Others
9.7.1 Others Market, by Region
9.7.1.1. North America Others Market, by Country
9.7.1.2. Europe Others Market, by Country
9.7.1.3. Asia-Pacific Others Market, by Country
9.7.1.4. Rest of the World Others Market, by Country
10. Global Forklift Truck Market, by Region
11. Company Profiles
11.1. Hyster-Yale Materials Handling, Inc.
11.1.1 Company Overview
11.1.2 Company Snapshot
11.1.3 Operating Business Segments
11.1.4 Product Portfolio
11.1.5 Business Performance
11.1.6 Sales by Business Segment
11.1.7 Sales by Geographic Segment
11.1.8 Key Strategic Moves & Developments
11.1.9 Primary Market Competitors
11.2. Jungheinrich AG
11.3. Kion Group AG
11.4. Komatsu Ltd.
11.5. Lonking Machinery Co. Ltd.
11.6. Toyota Industries Corporation
11.7. Mitsubishi Logisnext Co. Ltd.
11.8. Crown Equipment Corporation
11.9. Ep Equipment
11.10. Hangcha
For more information about this report visit https://www.researchandmarkets.com/r/j90q1
