Forklift Market Scope
Forklift is a device which is used to move materials over short distance and mostly incorporated in industries to aid automation processes. With rising e-commerce and warehouse operations, the forklift has become indispensable equipment across industries. Amid growing focus on reducing emission, battery powered forklifts demands are getting traction and manufacturers are emphasizing on making high load carrying capacity forklifts.
According to AMA, the Global Forklift market is expected to see growth rate of 2.1% and may see market size of USD19.54 Billion by 2026.
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Forklift market throughout the predicted period.
Toyota Industries Corporation [Japan], Jungheinrich AG [Germany], KION Group AG [Germany], Crown Equipment Corporation [United States], Mitsubishi Nichiyu Forklift Co., Ltd. [Japan], Hyster-Yale Materials Handling, Inc. [United States], UniCarriers Americas [United States], Komatsu Ltd. [Japan], Anhui HELI Co. Ltd Limited [China], Lonking Holdings Limited [China], Clark Material Handling Company [United States], Hangcha Group Co., Ltd. [China], Hyundai Heavy Industries [South Korea], Doosan Industrial Vehicle America Corp. [United States] and Combilift [Ireland] are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Godrej & Boyce Manufacturing [India], Paletrans Equipment [Brazil], Hubtex Maschinenbau GmbH & Co. KG [Germany], Konecranes [Finland], Manitou [France], EP Equipment, Ltd. [China] and Lonking Forklift Co., Ltd. [China].
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 total available market.
Segmentation Overview
The study have segmented the market of Global Forklift market by Type (Diesel Forklift, Battery-Electric Forklift, Gasoline & Liquefied Petroleum Gas (LPG) Forklift and Compressed Natural Gas (CNG) Forklift) 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).
Market Trend
- Growing Operation of Battery Operated Forklifts
- Increasing Focus on Automation Across Industries
Market Drivers
- Growing Demand of Forklifts in E-commerce and Warehouse
- Rising Adoption in Manufacturing and Construction Industry
Opportunities
- Emergence of Industry 4.0
- Growing Industrialization in Low and Middle Income Countries
Restraints
- Growing Third Party Logistics Services
- Availability of Alternative such as Manual Stackers
Challenges
- Limited Load Carrying Capacity of Electric Forklifts
- Shortage of Skilled Labor-force to Operate Forklifts
Key Target Audience
Forklift Manufacturers, Forklift engine Manufacturers, Forklift Attachment Manufacturers, Forklift Battery Manufacturers and Others