LONDON--(BUSINESS WIRE)--The global forklift trucks market is poised to grow by 498.49 thousand units during 2020-2024, progressing at a CAGR of almost 6% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Forklift Trucks Market Analysis Report by Class Type (Class I, Class II, Class III, Class IV and Class V), Geographic segmentation (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2020-2024".
The market is driven by the rapid growth in the construction sector. In addition, the introduction of fuel cell powered forklift trucks is anticipated to boost the growth of the forklift trucks market.
Western Europe is witnessing an increase in renovation of public buildings due to the implementation of Energy Efficiency Directive (EED) formulated by the EC. Developed markets such as the US are also experiencing a rapid growth in construction and renovation of buildings. Emerging economies in APAC, particularly India, China, and countries in South-East Asia, have recorded rapid growth in the construction activity in 2019. This is propelling the demand and adoption of forklift trucks for applications in the construction sector, especially for repeated material handling tasks. They are flexible to use and have high operational speed. Thus, the rapid growth in construction sector is expected to drive market growth during the forecast period.
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Major Five Forklift Trucks Market Companies:
Cargotec Corp. operates the business under various segments such as Kalmar, Hiab, and MacGregor. The company offers a wide range of forklift trucks such as light electric forklift truck, medium electric forklift truck, light forklift truck, and others.
Crown Equipment Corp.
Crown Equipment Corp. offers products through the following business units: Products and Solutions. The company offers C-5 series, SC Series, FC series, and RC series of counterbalance forklift trucks.
CVS Ferrari Spa
CVS Ferrari Spa operates under various business segments, namely REACH STACKERS, CONTAINER HANDLING LIFTRUCKS, and FORK LIFT TRUCKS. The company offers forklift trucks such as FERRARI F 18, FERRARI F 20, and FERRARI F 25 for break-bulk cargoes, container handling, and other applications.
Hyster-Yale Materials Handling Inc.
Hyster-Yale Materials Handling Inc. offers products through the following business segments: Lift Truck, Bolzoni, and Nuvera. The company offers a wide range of counterbalance forklift trucks such as H8-12XM-6, H10-16XM-6-12, and H16-18XM-7.5-9-12.
Jungheinrich AG offers products through the following business segments: Intralogistics and Financial Services. The company offers electric, diesel, and LPG forklift trucks such as Hydrostatic forklift truck 1.6 - 2.0t, Hydrostatic forklift truck 2.5 - 3.5t, and Hydrostatic forklift truck 4.0 - 5.0t.
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Forklift trucks Market Class Type Outlook (Revenue, USD Billion, 2020-2024)
- Class I
- Class II
- Class III
- Class IV
- Class V
Forklift trucks Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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