Global Forklift Market Growth 2019-2024

Forklift truck, also known as fork truck, lift truck, or forklift, are motorized vehicles primarily used for independent lifting, movement, and placement of discrete loads throughout a facility. They form an essential part of the supply chain market. These mobile loading trucks can be outfitted with forks for pallet-based unit load picking and for loads that are not palletized. These vehicles can be used with a variety of attachments such as platforms, grippers, or clamps. The growth of customer segments and rising demand for fuel-efficient vehicles is bringing a radical change to the forklift truck market.
In the coming years there is an increasing demand for Forklift in the regions of Asia that is expected to drive the market for more advanced Forklift. Growth in government budgets in the principal countries, increasing of warehouse expenditures, more-intense competition, launches in introducing new products, retrofitting and renovation of old technology, Increasing adoption of Forklift will drive growth in Asia markets.
The Forklift industry market is concentrated as the manufacturing technology of Forklift is relatively matures than some high-tech equipment. And some enterprises, like Heli, Hangcha, Toyota, Kion, etc. are well-known for the wonderful performance of their Forklift and related services. At the same time, China is remarkable in the Malaysia, Singapore, Vietnam, and China Forklift industry because of the lowest cost of raw material and labor.
The consumption volume of Forklift is related to downstream industries and Malaysia, Singapore, Vietnam, and China economy. As there will always be some uncertain in the Malaysia, Singapore, Vietnam, and China economy in the following years, the growth rate of Forklift industry may not keep that fast. But it is surely forecasted that the market of Forklift is still promising.

According to this study, over the next five years the Forklift market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2024, from US$ xx million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Forklift business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Forklift market by product type, application, key manufacturers and key regions and countries.

This study considers the Forklift value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Internal Combustion Forklift
Electric Forklift
Fuel Cells Forklift
Others
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Factories
Warehouses
Stations
Ports
Airports
Distribution centers
Others

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Heli
Hangcha
Toyota
Kion
Lonking
Jungheinrich
Mitsubishi Logisnext
Hyster-Yale
Tailift
Liugong
Crown

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global Forklift consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Forklift market by identifying its various subsegments.
Focuses on the key global Forklift manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Forklift with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Forklift submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.