Summary

Forklift trucks are powerful, heavy-duty lift trucks, which are widely used to lift and transfer heavy materials, such as container goods, crates, and other materials, over a short distance. These trucks are majorly used in dockyards, warehousing operations, and recycling operations to perform functions such as loading & unloading of goods from vehicles and moving packed goods around the storage area. In addition, forklift is generally powered by an electric battery or internal combustion engine.
The global forklift truck market is driven by growth in the e-commerce sector, growth of the manufacturing industry, and rapid industrialization globally. However, factors such as limited charging infrastructure for electric forklift and regulatory challenges hinder the growth of the market. On the contrary, growing advancement in the EV industry, and growing advancement in the forklift industry are anticipated to offer lucrative growth opportunities for the market.
The increasing technological advancement in the electric vehicle technology is positively driving the forklift truck industry. Technological advancements such as increased use of lithium-ion batteries, as compared to traditional lead-acid batteries in forklifts, have helped in increasing the power and efficiency of forklift trucks. Advancement in the EV industry and increase in use of modern technologies are anticipated to drive the demand for electric forklifts during the forecast period.
Moreover, in recent years, rapid growth in the manufacturing sector owning to technological advancement and growing globalization has increased the demand for consumer durable and electronics products. In addition, growing advancement in industry 4.0 technology and , and growing integration of the internet of things, big data, and cloud computing, have helped in the development of smart factories, which further boosted productivity in modern factories.
The growth of the manufacturing industry is particularly faster in the Asia-pacific region, especially in countries such as China, India, Japan, and South Korea. These countries are experiencing strong growth in the electronics, textile, and automotive sectors. Rapid industrialization and availability of low-cost labor in Southeast Asian countries like Vietnam and Indonesia, have further bolstered the region manufacturing sector in the Asia-Pacific region.
According to data published by the United Nation Industrial Development Organization, global manufacturing output witnessed significant growth in the second quarter of 2024. According to the data, the global industrial output increased by 1 as compared to the previous quarter. According to the data, the manufacturing industry faced several challenges in 2022 such as a high rate of inflation, volatile energy prices, supply chain disruptions and the growth of regional conflicts. However, the manufacturing industry in China, Japan, Mexico, India, and Brazil are growing at a faster pace and, thus with the growth of manufacturing industry, the demand for forklifts trucks is anticipated to witness strong growth rate.
The key companies profiled in the report include Toyota Industries Corporation, Mitsubishi Forklift Trucks, Caterpillar, Godrej & Boyce Mfg. Co. Ltd., Hyundai Material Handling, Anhui Heli Co., Ltd., Komatsu, Clark Equipment, Crown Equipment Corporation, and Jungheinrich AG.
Key Benefits For Stakeholders
●This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the forklift truck market analysis from 2023 to 2033 to identify the prevailing forklift truck market opportunities.
●The market research is offered along with information related to key drivers, restraints, and opportunities.
●Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
●In-depth analysis of the forklift truck market segmentation assists to determine the prevailing market opportunities.
●Major countries in each region are mapped according to their revenue contribution to the global market.
●Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
●The report includes the analysis of the regional as well as global forklift truck market trends, key players, market segments, application areas, and market growth strategies.

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● SWOT Analysis
Key Market Segments
By Power Source
● IC Engine Powered
● Electric Powered
By Class
● Class 1
● Class 2
● Class 3
● Class 4
● Class 5
● Others
By Load Capacity
● Below 5 Ton
● 5-15 Ton
● Above 16 Ton
By End User
● Industrial
● Construction
● Manufacturing
By Region
● North America
○ U.S.
○ Canada
○ Mexico
● Europe
○ UK
○ Germany
○ France
○ Italy
○ Spain
○ Russia
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ South Korea
○ South East Asia
○ Rest of Asia-Pacific
● LAMEA
○ Latin America
○ Middle East
○ Africa
● Key Market Players
○ Toyota Industries Corporation
○ clark equipment
○ Mitsubishi Forklift Trucks
○ Caterpillar Inc.
○ Godrej & Boyce Mfg. Co. Ltd.
○ Hyundai Material Handling
○ Anhui Heli Co., Ltd.
○ Komatsu
○ Crown Equipment Corporation
○ Jungheinrich AG

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
CHAPTER 4: FORKLIFT TRUCK MARKET, BY POWER SOURCE
4.1. Overview
4.1.1. Market size and forecast
4.2. IC Engine Powered
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Electric Powered
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
CHAPTER 5: FORKLIFT TRUCK MARKET, BY CLASS
5.1. Overview
5.1.1. Market size and forecast
5.2. Class 1
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Class 2
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
5.4. Class 3
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market share analysis by country
5.5. Class 4
5.5.1. Key market trends, growth factors and opportunities
5.5.2. Market size and forecast, by region
5.5.3. Market share analysis by country
5.6. Class 5
5.6.1. Key market trends, growth factors and opportunities
5.6.2. Market size and forecast, by region
5.6.3. Market share analysis by country
5.7. Others
5.7.1. Key market trends, growth factors and opportunities
5.7.2. Market size and forecast, by region
5.7.3. Market share analysis by country
CHAPTER 6: FORKLIFT TRUCK MARKET, BY LOAD CAPACITY
6.1. Overview
6.1.1. Market size and forecast
6.2. Below 5 Ton
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. 5-15 Ton
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
6.4. Above 16 Ton
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis by country
CHAPTER 7: FORKLIFT TRUCK MARKET, BY END USER
7.1. Overview
7.1.1. Market size and forecast
7.2. Industrial
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast, by region
7.2.3. Market share analysis by country
7.3. Construction
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market share analysis by country
7.4. Manufacturing
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast, by region
7.4.3. Market share analysis by country
CHAPTER 8: FORKLIFT TRUCK MARKET, BY REGION
8.1. Overview
8.1.1. Market size and forecast By Region
8.2. North America
8.2.1. Key market trends, growth factors and opportunities
8.2.2. Market size and forecast, by Power Source
8.2.3. Market size and forecast, by Class
8.2.4. Market size and forecast, by Load Capacity
8.2.5. Market size and forecast, by End User
8.2.6. Market size and forecast, by country
8.2.6.1. U.S.
8.2.6.1.1. Market size and forecast, by Power Source
8.2.6.1.2. Market size and forecast, by Class
8.2.6.1.3. Market size and forecast, by Load Capacity
8.2.6.1.4. Market size and forecast, by End User
8.2.6.2. Canada
8.2.6.2.1. Market size and forecast, by Power Source
8.2.6.2.2. Market size and forecast, by Class
8.2.6.2.3. Market size and forecast, by Load Capacity
8.2.6.2.4. Market size and forecast, by End User
8.2.6.3. Mexico
8.2.6.3.1. Market size and forecast, by Power Source
8.2.6.3.2. Market size and forecast, by Class
8.2.6.3.3. Market size and forecast, by Load Capacity
8.2.6.3.4. Market size and forecast, by End User
8.3. Europe
8.3.1. Key market trends, growth factors and opportunities
8.3.2. Market size and forecast, by Power Source
8.3.3. Market size and forecast, by Class
8.3.4. Market size and forecast, by Load Capacity
8.3.5. Market size and forecast, by End User
8.3.6. Market size and forecast, by country
8.3.6.1. UK
8.3.6.1.1. Market size and forecast, by Power Source
8.3.6.1.2. Market size and forecast, by Class
8.3.6.1.3. Market size and forecast, by Load Capacity
8.3.6.1.4. Market size and forecast, by End User
8.3.6.2. Germany
8.3.6.2.1. Market size and forecast, by Power Source
8.3.6.2.2. Market size and forecast, by Class
8.3.6.2.3. Market size and forecast, by Load Capacity
8.3.6.2.4. Market size and forecast, by End User
8.3.6.3. France
8.3.6.3.1. Market size and forecast, by Power Source
8.3.6.3.2. Market size and forecast, by Class
8.3.6.3.3. Market size and forecast, by Load Capacity
8.3.6.3.4. Market size and forecast, by End User
8.3.6.4. Italy
8.3.6.4.1. Market size and forecast, by Power Source
8.3.6.4.2. Market size and forecast, by Class
8.3.6.4.3. Market size and forecast, by Load Capacity
8.3.6.4.4. Market size and forecast, by End User
8.3.6.5. Spain
8.3.6.5.1. Market size and forecast, by Power Source
8.3.6.5.2. Market size and forecast, by Class
8.3.6.5.3. Market size and forecast, by Load Capacity
8.3.6.5.4. Market size and forecast, by End User
8.3.6.6. Russia
8.3.6.6.1. Market size and forecast, by Power Source
8.3.6.6.2. Market size and forecast, by Class
8.3.6.6.3. Market size and forecast, by Load Capacity
8.3.6.6.4. Market size and forecast, by End User
8.3.6.7. Rest of Europe
8.3.6.7.1. Market size and forecast, by Power Source
8.3.6.7.2. Market size and forecast, by Class
8.3.6.7.3. Market size and forecast, by Load Capacity
8.3.6.7.4. Market size and forecast, by End User
8.4. Asia-Pacific
8.4.1. Key market trends, growth factors and opportunities
8.4.2. Market size and forecast, by Power Source
8.4.3. Market size and forecast, by Class
8.4.4. Market size and forecast, by Load Capacity
8.4.5. Market size and forecast, by End User
8.4.6. Market size and forecast, by country
8.4.6.1. China
8.4.6.1.1. Market size and forecast, by Power Source
8.4.6.1.2. Market size and forecast, by Class
8.4.6.1.3. Market size and forecast, by Load Capacity
8.4.6.1.4. Market size and forecast, by End User
8.4.6.2. Japan
8.4.6.2.1. Market size and forecast, by Power Source
8.4.6.2.2. Market size and forecast, by Class
8.4.6.2.3. Market size and forecast, by Load Capacity
8.4.6.2.4. Market size and forecast, by End User
8.4.6.3. India
8.4.6.3.1. Market size and forecast, by Power Source
8.4.6.3.2. Market size and forecast, by Class
8.4.6.3.3. Market size and forecast, by Load Capacity
8.4.6.3.4. Market size and forecast, by End User
8.4.6.4. South Korea
8.4.6.4.1. Market size and forecast, by Power Source
8.4.6.4.2. Market size and forecast, by Class
8.4.6.4.3. Market size and forecast, by Load Capacity
8.4.6.4.4. Market size and forecast, by End User
8.4.6.5. South East Asia
8.4.6.5.1. Market size and forecast, by Power Source
8.4.6.5.2. Market size and forecast, by Class
8.4.6.5.3. Market size and forecast, by Load Capacity
8.4.6.5.4. Market size and forecast, by End User
8.4.6.6. Rest of Asia-Pacific
8.4.6.6.1. Market size and forecast, by Power Source
8.4.6.6.2. Market size and forecast, by Class
8.4.6.6.3. Market size and forecast, by Load Capacity
8.4.6.6.4. Market size and forecast, by End User
8.5. LAMEA
8.5.1. Key market trends, growth factors and opportunities
8.5.2. Market size and forecast, by Power Source
8.5.3. Market size and forecast, by Class
8.5.4. Market size and forecast, by Load Capacity
8.5.5. Market size and forecast, by End User
8.5.6. Market size and forecast, by country
8.5.6.1. Latin America
8.5.6.1.1. Market size and forecast, by Power Source
8.5.6.1.2. Market size and forecast, by Class
8.5.6.1.3. Market size and forecast, by Load Capacity
8.5.6.1.4. Market size and forecast, by End User
8.5.6.2. Middle East
8.5.6.2.1. Market size and forecast, by Power Source
8.5.6.2.2. Market size and forecast, by Class
8.5.6.2.3. Market size and forecast, by Load Capacity
8.5.6.2.4. Market size and forecast, by End User
8.5.6.3. Africa
8.5.6.3.1. Market size and forecast, by Power Source
8.5.6.3.2. Market size and forecast, by Class
8.5.6.3.3. Market size and forecast, by Load Capacity
8.5.6.3.4. Market size and forecast, by End User
CHAPTER 9: COMPETITIVE LANDSCAPE
9.1. Introduction
9.2. Top winning strategies
9.3. Product mapping of top 10 player
9.4. Competitive dashboard
9.5. Competitive heatmap
9.6. Top player positioning, 2023
CHAPTER 10: COMPANY PROFILES
10.1. Toyota Industries Corporation
10.1.1. Company overview
10.1.2. Key executives
10.1.3. Company snapshot
10.1.4. Operating business segments
10.1.5. Product portfolio
10.1.6. Business performance
10.1.7. Key strategic moves and developments
10.2. Mitsubishi Forklift Trucks
10.2.1. Company overview
10.2.2. Key executives
10.2.3. Company snapshot
10.2.4. Operating business segments
10.2.5. Product portfolio
10.2.6. Business performance
10.2.7. Key strategic moves and developments
10.3. Caterpillar Inc.
10.3.1. Company overview
10.3.2. Key executives
10.3.3. Company snapshot
10.3.4. Operating business segments
10.3.5. Product portfolio
10.3.6. Business performance
10.3.7. Key strategic moves and developments
10.4. Godrej & Boyce Mfg. Co. Ltd.
10.4.1. Company overview
10.4.2. Key executives
10.4.3. Company snapshot
10.4.4. Operating business segments
10.4.5. Product portfolio
10.4.6. Business performance
10.4.7. Key strategic moves and developments
10.5. Hyundai Material Handling
10.5.1. Company overview
10.5.2. Key executives
10.5.3. Company snapshot
10.5.4. Operating business segments
10.5.5. Product portfolio
10.5.6. Business performance
10.5.7. Key strategic moves and developments
10.6. Anhui Heli Co., Ltd.
10.6.1. Company overview
10.6.2. Key executives
10.6.3. Company snapshot
10.6.4. Operating business segments
10.6.5. Product portfolio
10.6.6. Business performance
10.6.7. Key strategic moves and developments
10.7. Komatsu
10.7.1. Company overview
10.7.2. Key executives
10.7.3. Company snapshot
10.7.4. Operating business segments
10.7.5. Product portfolio
10.7.6. Business performance
10.7.7. Key strategic moves and developments
10.8. clark equipment
10.8.1. Company overview
10.8.2. Key executives
10.8.3. Company snapshot
10.8.4. Operating business segments
10.8.5. Product portfolio
10.8.6. Business performance
10.8.7. Key strategic moves and developments
10.9. Crown Equipment Corporation
10.9.1. Company overview
10.9.2. Key executives
10.9.3. Company snapshot
10.9.4. Operating business segments
10.9.5. Product portfolio
10.9.6. Business performance
10.9.7. Key strategic moves and developments
10.10. Jungheinrich AG
10.10.1. Company overview
10.10.2. Key executives
10.10.3. Company snapshot
10.10.4. Operating business segments
10.10.5. Product portfolio
10.10.6. Business performance
10.10.7. Key strategic moves and developments