Forklift - Market Scope
A forklift is a small industrial vehicle with a power-operated forked platform attached at the front that can be raised and lowered for insertion under cargo to lift or move it. Forklifts serve the needs of various industries, including warehouses and other large storage facilities. Forklifts are fueled by electric batteries or ignition motors. A few forklifts permit the administrators to sit while driving and working the machine, while others require the administrators to stand. It is, as a rule, widely utilized throughout the business for shipping materials and products.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Toyota Motor Corporation (Japan), Komatsu Ltd. (Japan), Mitsubishi Logisnext Co., Ltd.(Jpan), Anhui Heli Co., Ltd.(China), Clark Material Handing Company, (United States), Crown Equipment Corporation (United States), Doosan Corporation (South Korea), Hyster-Yale Materials Handling, Inc.(Unites States), Jungheinrich AG (Germany) and KION Group AG (Germany) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Forklift - market throughout the predicted period.
Toyota Motor Corporation (Japan), Komatsu Ltd. (Japan), Mitsubishi Logisnext Co., Ltd.(Jpan), Anhui Heli Co., Ltd.(China), Clark Material Handing Company, (United States), Crown Equipment Corporation (United States), Doosan Corporation (South Korea), Hyster-Yale Materials Handling, Inc.(Unites States), Jungheinrich AG (Germany) and KION Group AG (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Kion Group (America), Hangcha Group (China) and Manitou (America).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Forklift - market by Type and Region with country level break-up.
On the basis of geography, the market of Forklift - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January 2021, Ogden Forklifts announce the acquisition of Florida Forklifts With five locations, Florida Forklift operates in 46 of the 67 counties in Florida. The combined companies will be able to provide extended service throughout the southeast with new and reconditioned equipment, rentals, service, and parts.
In October 2023, Toyota Material Handling has launched a new line of electric pneumatic forklifts with its 48V and 80V models. This durable line is built to withstand outdoor terrain and work in various weather conditions. The forklifts are designed for retail applications such as lumberyards, home centers, landscaping and store support.
Influencing Trend:
Increasing demand for efficient material handling and The growth of e-commerce and online retailing
Market Growth Drivers:
Increasing demand for lean and automated warehouse to Increase operational efficiency and The growing e-commerce industry
Challenges:
High initial investment and High initial cost of electric forklifts
Restraints:
A high cost of forklift trucks and Increasing demand for stackers cranes
Opportunities:
The increase in demand for battery-operated forklifts and Modular solution to optimize customer productivity
Key Target Audience
Manufacturer, Providers, Suppliers, Stakeholders and Others