Forklift Trucks Market By Product Type (Reach Forklift Truck, Counterbalance Forklift Truck, Others), By Engine Type (Electric, Diesel, Gasoline & LPG/CNG), By End-user (Manufacturing, Logistics, Food Industry, Wholesale & Retail, Mining & Construction, Others), By Vehicle Class (Class I, Class II, Class III, Class IV, Class V) - Growth, Future Prospects, and Competitive Analysis, 2019 - 2027
Key Market Insights
“Rising demand for modern material handling equipment will boost the market”
The global forklift trucks market is growing competently, expected to grow at a CAGR of 4.7% during the estimated period from 2019 to 2027, starting from US$ 33.81 Bn in 2018.
Global growth in the e-commerce logistics industry and growing demand for modern material handling equipment will boost the forklift trucks market growth. Growing investments in the manufacturing, mining, and construction industry will also boost the market demand. The growth of retail industry worldwide will also boost the demand for forklift trucks. Increased adoption of forklift trucks in the distribution centers for loading, unloading, removal and placement of goods from racks and others will boost the market demand.
End-user Analysis
“Rising infrastructural development worldwide will spur revenue growth”
In 2018, the manufacturing segment is anticipated to be dominant. The manufacturing segment contributed to nearly 28% of the global revenue share in the same year. The increased need for forklift trucks and growing infrastructural development are the major factors for the dominance of the manufacturing segment. Rising adoption of electric & autonomous forklift trucks will also boost the segment growth.
“The growing e-commerce industry worldwide will boost the wholesale & retail segment”
The wholesale & retail segment will grow with the fastest CAGR owing to rapid growth in the e-commerce industry worldwide. The global e-commerce industry was valued at around US$ 2.8 Tn in 2018 and is expected to grow at a CAGR of nearly 5% in years to come. The growing number of warehouses and distribution centers will boom the segment growth.
Regional Analysis
“Developed manufacturing industry will boost the demand in Europe”
In 2018, Europe led the forklift trucks market followed by Asia Pacific and North America. Europe has around 32% of the global market revenue share in the same year. The region was dominant in 2018 owing to the developed manufacturing industry and growing government investments and initiatives to improve and augment the manufacturing sector.
“The growing adoption of forklift trucks in the warehouses will boost the market in Asia Pacific”
Asia Pacific will grow with the highest CAGR during the forecast period due to the rapid increase in the e-commerce industry and the rising number of warehouses. The growing mining & construction industry, logistics industry, automotive industry, manufacturing industry and infrastructural development will also boost the market in the region.
Increased Technological Developments by Market Players will boost the Industry
Major manufacturers are focusing on new product launches with increased technical innovations such as touchscreen LED and others. Acquisitions and regional expansion along with new product development will be the key factor in the industry.
List of Companies Covered:
- Toyota Industries Corporation
- Hyundai Heavy Industries
- Mitsubishi Nichiyu Forklift Co., Ltd
- Crown Equipment Corporation
- Hyster-Yale Materials Handling Inc.
- Hangcha Group Co., Ltd.
- Clark Material Handling International, Inc.
- Kion Group AG
- Jungheinrich AG
- Hyster-Yale Materials Handling
- Anhui Forklift Truck
- Doosan Industrial Vehicle
- Komatsu Ltd.
- Godrej & Boyce Manufacturing
Key Industry Development:
- In April 2019, Hyundai Heavy Industries became the first company to launch a driverless forklift truck. The self-driving forklift truck can be remotely controlled and can determine optimal routes.
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Market Segmentation
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2017-2027 |
| Base Year | 2018 |
| Forecast Period | 2019-2027 |
| Historical Year | 2017 |
| Unit | USD Billion |
| Segmentation |
Product Type (2017–2027; US$ Bn) |
|
Engine Type (2017–2027; US$ Bn) |
|
|
End-user (2017–2027; US$ Bn) |
|
|
Vehicle Class (2017–2027; US$ Bn) |
|
|
Geography Segment (2017–2027; US$ Bn) |
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that give a better market understanding of the overall forklift trucks market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report
- What are the current market trends and dynamics in the forklift trucks market and valuable opportunities for emerging players?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the forklift trucks market?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global Forklift Trucks (FT) Market
2.2. Global FT Market, by Product Type, 2018 (US$ Bn)
2.3. Global FT Market, by Engine Type, 2018 (US$ Bn)
2.4. Global FT Market, by End-user, 2018 (US$ Bn)
2.5. Global FT Market, by Vehicle Class, 2018 (US$ Bn)
2.6. Global FT Market, by Geography, 2018 (US$ Bn)
3. Market Dynamics
3.1. Introduction
3.1.1. Global FT Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players
4. Global Forklift Trucks (FT) Market, by Product Type , 2017-2027 (US$ Bn)
4.1. Overview
4.2. Reach Forklift Truck
4.3. Counterbalance Forklift Truck
4.4. Others (Rough Terrain, Side Loader, Telescopic Handler, etc.)
5. Global Forklift Trucks (FT) Market, by Engine Type, 2017-2027 (US$ Bn)
5.1. Overview
5.2. Electric
5.3. Diesel
5.4. Gasoline & LPG/CNG
6. Global Forklift Trucks (FT) Market, by End-user, 2017-2027 (US$ Bn)
6.1. Overview
6.2. Manufacturing
6.3. Logistics
6.4. Food Industry
6.5. Wholesale & Retail
6.6. Mining & Construction
6.7. Others (Agriculture, Natural Resources, etc.)
7. Global Forklift Trucks (FT) Market, by Vehicle Class , 2017-2027 (US$ Bn)
7.1. Overview
7.2. Class I
7.3. Class II
7.4. Class III
7.5. Class IV
7.6. Class V
8. North America Forklift Trucks (FT) Market Analysis, 2017-2027 (US$ Bn)
8.1. Overview
8.1.1. North America FT Market Value and Growth, 2017-2027, (US$ Bn)
8.2. North America FT Market Value, By Product Type, 2017-2027 (US$ Bn)
8.2.1. Market Analysis
8.3. North America FT Market Value, By Engine Type, 2017-2027 (US$ Bn)
8.3.1. Market Analysis
8.4. North America FT Market Value, By End-user, 2017-2027 (US$ Bn)
8.4.1. Market Analysis
8.5. North America FT Market Value, By Vehicle Class, 2017-2027 (US$ Bn)
8.5.1. Market Analysis
8.6. North America FT Market Value, By Region/Country, 2017-2027 (US$ Bn)
8.6.1. Market Analysis
8.6.2. U.S.
8.6.3. Rest of North America
9. Europe Forklift Trucks (FT) Market Analysis, 2017-2027 (US$ Bn)
9.1. Overview
9.1.1. Europe FT Market Value and Growth, 2017-2027, (US$ Bn)
9.2. Europe FT Market Value, By Product Type, 2017-2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Europe FT Market Value, By Engine Type, 2017-2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Europe FT Market Value, By End-user, 2017-2027 (US$ Bn)
9.4.1. Market Analysis
9.5. Europe FT Market Value, By Vehicle Class, 2017-2027 (US$ Bn)
9.5.1. Market Analysis
9.6. Europe FT Market Value, By Region/Country, 2017-2027 (US$ Bn)
9.6.1. Market Analysis
9.6.2. U.K.
9.6.3. Germany
9.6.4. France
9.6.5. Rest of Europe
10. Asia Pacific Forklift Trucks (FT) Market Analysis, 2017-2027 (US$ Bn)
10.1. Overview
10.1.1. Asia Pacific FT Market Value and Growth, 2017-2027, (US$ Bn)
10.2. Asia Pacific FT Market Value, By Product Type, 2017-2027 (US$ Bn)
10.2.1. Market Analysis
10.3. Asia Pacific FT Market Value, By Engine Type, 2017-2027 (US$ Bn)
10.3.1. Market Analysis
10.4. Asia Pacific FT Market Value, By End-user, 2017-2027 (US$ Bn)
10.4.1. Market Analysis
10.5. Asia Pacific FT Market Value, By Vehicle Class, 2017-2027 (US$ Bn)
10.5.1. Market Analysis
10.6. Asia Pacific FT Market Value, By Region/Country, 2017-2027 (US$ Bn)
10.6.1. Market Analysis
10.6.2. Japan
10.6.3. China
10.6.4. India
10.6.5. Rest of Asia Pacific
11. Rest of the World Forklift Trucks (FT) Market Analysis, 2017-2027 (US$ Bn)
11.1. Overview
11.1.1. Rest of the World FT Market Value and Growth, 2017-2027, (US$ Bn)
11.2. Rest of the World FT Market Value, By Product Type, 2017-2027 (US$ Bn)
11.2.1. Market Analysis
11.3. Rest of the World FT Market Value, By Engine Type, 2017-2027 (US$ Bn)
11.3.1. Market Analysis
11.4. Rest of the World FT Market Value, By End-user, 2017-2027 (US$ Bn)
11.4.1. Market Analysis
11.5. Rest of World FT Market Value, By Vehicle Class, 2017-2027 (US$ Bn)
11.5.1. Market Analysis
11.6. Rest of the World FT Market Value, By Region, 2017-2027 (US$ Bn)
11.6.1. Market Analysis
11.6.2. Middle East & Africa
11.6.3. Latin America
12. Company Profiles
12.1. Toyota Industries Corporation
12.2. Hyundai Heavy Industries
12.3. Mitsubishi Nichiyu Forklift Co., Ltd
12.4. Crown Equipment Corporation
12.5. Hyster-Yale Materials Handling Inc.
12.6. Hangcha Group Co., Ltd.
12.7. Clark Material Handling International, Inc.
12.8. Kion Group AG
12.9. Jungheinrich AG
12.10. Hyster-Yale Materials Handling
12.11. Anhui Forklift Truck
12.12. Doosan Industrial Vehicle
12.13. Komatsu Ltd.
12.14. Godrej & Boyce Manufacturing
* Here we are using FT as a short form of Forklift Trucks
TABLE 1 Market Snapshot: Global Forklift Trucks (FT) Market
TABLE 2 Global FT Market, by Product Type, 2017–2027 (US$ Bn)
TABLE 3 Global FT Market, by Engine Type, 2017–2027 (US$ Bn)
TABLE 4 Global FT Market, by End-user, 2017–2027 (US$ Bn)
TABLE 5 Global FT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 6 Global FT Market, by Geography, 2017–2027 (US$ Bn)
TABLE 7 North America FT Market, by Product Type, 2017–2027 (US$ Bn)
TABLE 8 North America FT Market, by Engine Type, 2017–2027 (US$ Bn)
TABLE 9 North America FT Market, by End-user, 2017–2027 (US$ Bn)
TABLE 10 North America FT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 11 North America FT Market, by Country, 2017–2027 (US$ Bn)
TABLE 12 Europe FT Market, by Product Type, 2017–2027 (US$ Bn)
TABLE 13 Europe FT Market, by Engine Type, 2017–2027 (US$ Bn)
TABLE 14 Europe FT Market, by End-user, 2017–2027 (US$ Bn)
TABLE 15 Europe FT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 16 Europe FT Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 17 Asia Pacific FT Market, by Product Type, 2017–2027 (US$ Bn)
TABLE 18 Asia Pacific FT Market, by Engine Type, 2017–2027 (US$ Bn)
TABLE 19 Asia Pacific FT Market, by End-user, 2017–2027 (US$ Bn)
TABLE 20 Asia Pacific FT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 21 Asia Pacific FT Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 22 RoW FT Market, by Product Type, 2017–2027 (US$ Bn)
TABLE 23 RoW FT Market, by Engine Type, 2017–2027 (US$ Bn)
TABLE 24 RoW FT Market, by End-user, 2017–2027 (US$ Bn)
TABLE 25 RoW FT Market, by Vehicle Class, 2017–2027 (US$ Bn)
TABLE 26 RoW FT Market, by Tire Assembly, 2017–2027 (US$ Bn)
TABLE 27 RoW FT Market, by Country/Region, 2017–2027 (US$ Bn)
TABLE 28 Toyota Industries Corporation: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 29 Hyundai Heavy Industries: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 30 Mitsubishi Nichiyu Forklift Co., Ltd: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 31 Crown Equipment Corporation: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 32 Hyster-Yale Materials Handling, Inc.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 33 Hangcha Group Co., Ltd.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 34 Clark Material Handling international, Inc..: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments)
TABLE 35 Kion Group AG: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 36 Jungheinrich AG: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 37 Anhui Forklift Truck: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 38 Doosan Industrial Vehicle: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 39 Komatsu Ltd.: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
TABLE 40 Godrej & Boyce Manufacturing: Company Snapshot (Company Overview; Product Portfolio; Financial Information; Key Developments
FIG. 1 Global Forklift Trucks (FT) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global FT Market Segmentation
FIG. 4 Global FT Market, by Product Type, 2018 (US$ Bn)
FIG. 5 Global FT Market, by Engine Type, 2018 (US$ Bn)
FIG. 6 Global FT Market, by End-user, 2018 (US$ Bn)
FIG. 7 Global FT Market, by Vehicle Class, 2018 (US$ Bn)
FIG. 8 Global FT Market, by Geography, 2018 (US$ Bn)
FIG. 9 Attractive Investment Proposition, by Geography, 2018
FIG. 10 Global Market Positioning of Key FT Market Manufacturers, 2018
FIG. 11 Global FT Market Value Contribution, By Product Type, 2018 & 2027 (Value %)
FIG. 12 Global FT Market, by Reach Forklift Truck, Value, 2017–2027 (US$ Bn)
FIG. 13 Global FT Market, by Counterbalance Forklift Truck, Value, 2017–2027 (US$ Bn)
FIG. 14 Global FT Market, by Others (Rough Terrain, Side Loader, Telescopic Handler, etc.), Value, 2017–2027 (US$ Bn)
FIG. 15 Global FT Market Value Contribution, By Engine Type, 2018 & 2027 (Value %)
FIG. 16 Global FT Market, by Electric, 2017–2027 (US$ Bn)
FIG. 17 Global FT Market, by Diesel, Value, 2017–2027 (US$ Bn)
FIG. 18 Global FT Market, by Gasoline & LPG/CNG, Value, 2017–2027 (US$ Bn)
FIG. 19 Global FT Market Value Contribution, By End-user, 2018 & 2027 (Value %)
FIG. 20 Global FT Market, by Manufacturing, Value, 2017–2027 (US$ Bn)
FIG. 21 Global FT Market, by Logistics, Value, 2017–2027 (US$ Bn)
FIG. 22 Global FT Market, by Food Industry, 2017–2027 (US$ Bn)
FIG. 23 Global FT Market, by Wholesale & Retail, Value, 2017–2027 (US$ Bn)
FIG. 24 Global FT Market, by Mining & Construction, 2017–2027 (US$ Bn)
FIG. 25 Global FT Market, by Others (Agriculture, Natural Resources, etc.), Value, 2017–2027 (US$ Bn)
FIG. 26 Global FT Market Value Contribution, By Vehicle Class, 2018 & 2027 (Value %)
FIG. 27 Global FT Market, by Class I, Value, 2017–2027 (US$ Bn)
FIG. 28 Global FT Market, by Class II, Value, 2017–2027 (US$ Bn)
FIG. 29 Global FT Market, by Class III, 2017–2027 (US$ Bn)
FIG. 30 Global FT Market, by Class IV, Value, 2017–2027 (US$ Bn)
FIG. 31 Global FT Market, by Class V, Value, 2017–2027 (US$ Bn)
FIG. 32 U.S. FT Market, 2017–2027 (US$ Bn)
FIG. 33 Canada FT Market, 2017–2027 (US$ Bn)
FIG. 34 U.K. FT Market, 2017–2027 (US$ Bn)
FIG. 35 Germany FT Market, 2017–2027 (US$ Bn)
FIG. 36 France FT Market, 2017–2027 (US$ Bn)
FIG. 37 Italy FT Market, 2017–2027 (US$ Bn)
FIG. 38 Rest of Europe FT Market, 2017–2027 (US$ Bn)
FIG. 39 Japan FT Market, 2017–2027 (US$ Bn)
FIG. 40 China FT Market, 2017–2027 (US$ Bn)
FIG. 41 India FT Market, 2017–2027 (US$ Bn)
FIG. 42 Rest of Asia Pacific FT Market, 2017–2027 (US$ Bn)
FIG. 43 Middle East & Africa FT Market, 2017–2027 (US$ Bn)
FIG. 44 Latin America FT Market, 2017–2027 (US$ Bn)
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