Global Forklift Truck Market (2020 to 2027) - by Power Source, Class and End-use - ResearchAndMarkets.com

DUBLIN--()--The "Forklift Truck Market by Power Source, Class and End Use: Global Opportunity Analysis and Industry Forecast,2020-2027" report has been added to ResearchAndMarkets.com's offering.

According to this report the global forklift truck market size was valued at $45.01 billion in 2019, and is projected to reach $81.40 billion by 2027, registering a CAGR of 7.3% from 2019 to 2026.

Forklift truck can be defined as the most important and majorly vehicle for material handling. In addition, lift truck is powered industrial vehicle that is used for lifting and transporting material for short distance inside warehouses or other operational sites. Lift trucks are either gasoline powered or electric powered. Also, there is an increase in the penetration of electric powered forklift trucks in the recent days owing to benefits such as eco-friendly and noise less operation. Further, a typical forklift truck consists of two power-operated horizontal prongs that are raised and lowered for loading, transporting, and unloading of goods.

The market is anticipated to witness significant growth over the years, owing to surge in investments in the infrastructure industry and developments in the e-commerce industry.

The forklift truck market is segmented on the basis of power source, class, end user, and region. By power source, the market is bifurcated into IC engine powered and electric powered. By class, market is categorized into class 1, class 2, class 3, class 4, class 5, and others. By end user, it is divided into retail & wholesale, logistics, automotive, food industry, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

  • This study presents the analytical depiction of the global forklift truck market along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current market is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the market.
  • Porter's five forces analysis illustrates the potency of the buyers and suppliers.

Key Findings

  • On the basis of power source, the electric powered segmentis anticipated to exhibit a remarkable growth during the forecast period.
  • On the basis of class, the class 4 segment is the highest contributor to the global forklift truck market in terms of revenue.
  • On the basis of region, LAMEA is the fastest growing region, followed by North America, Europe, and Asia-Pacific.

Market Dynamics

Drivers

  • Growth in E-Commerce Industry.
  • Rising Investments in the Infrastructure Industry

Restraint

  • Increasing Safety Issues Related to Forklift Trucks

Opportunities

  • Production of Hydrogen Fuel Cell Forklifts
  • Development of Autonomous Forklifts Trucks

Key Market Players

  • Crown Equipment Corporation
  • EP Equipment
  • Hangcha
  • Hyster-Yale Materials Handling, Inc.
  • Jungheinrich AG
  • KION GROUP AG
  • Komatsu Ltd.
  • Lonking Machinery Co., Ltd.
  • Mitsubishi Logisnext Co., Ltd.
  • Toyota Industries Corporation

For more information about this report visit https://www.researchandmarkets.com/r/cfijr5

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900