Industry Background:
Electric Forklift is defined as the powered industrial truck, which is used to lift as well as move materials short distances, that is powered by electricity. Numerous advantages of using electric forklift such as less pollution, easier to operate and higher energy efficiency, among others. Increase in productivity, reduced injuries & accidents along with operator comfort are likely to be a prime driver of the global electric forklift market. The market for the electric forklift is anticipated to register a CAGR of over 8.3% during the forecast period.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Toyota Industries Corporation (Japan), KION Group AG (Germany), Hyster-Yale Material handling Inc. (United States), Crown Equipment Corporation (United States), Hyundai Heavy Industries (South Korea), Jungheinrich AG (Germany), Mitsubishi Nichiyu (India), UniCarriers Corp (United States), Komatsu (United States) and Anhui Heli (China) |
This growth is primarily driven by Increasing Trend in E-Commerce and Warehouse Segment and Technological Advancements Aimed at Increasing Productivity.
Globally, a noticeable market trend is evident Technology Advancement in Electric Forklift Major Manufacturers, such as Toyota Industries Corporation (Japan), KION Group AG (Germany), Hyster-Yale Material handling Inc. (United States), Crown Equipment Corporation (United States), Hyundai Heavy Industries (South Korea), Jungheinrich AG (Germany), Mitsubishi Nichiyu (India), UniCarriers Corp (United States), Komatsu (United States) and Anhui Heli (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The market is fragmented with numerous players focusing on technique and quality of the product due to which the global electric forklift market can witness an upsurge in the forecast period
Key Developments in the Market:
In January 2020,Toyota Forklift has completed the integration of two of its business units, a project that was first announced 12 months ago, saying the move will better serve customers and increase overall synergy, the company .
In May 2023,oyota Material Handling (TMH), , the industry leader in material handling innovation, is launching three new electric forklift models, adding to the company’s industry-leading lineup of material handling products and solutions. The new electric product launch features a Side-Entry End Rider, a Center Rider Stacker, and an Industrial Tow Tractor, offering customers access to next-level efficiency, versatility, and best-in-class performance that prioritizes operator comfort.
Influencing Trend:
Technology Advancement in Electric Forklift
Market Growth Drivers:
Increasing Trend in E-Commerce and Warehouse Segment and Technological Advancements Aimed at Increasing Productivity
Challenges:
Stringent Safety and Emission Regulations and Volatility in Global Market
Restraints:
Increase in Third Party Logistics (3PL) Services and Issue related to High Cost of Battery Operated and Fuel Cell Forklift
Opportunities:
Increasing Demand for Battery-Operated Forklifts and Emerging Market Fueling the Growth
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Electric Forklift Market
- Analysis about New Entrants in Electric Forklift Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Electric Forklift Study Sheds Light on
The Electric Forklift Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Electric Forklift industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Electric Forklift industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.