Forklift Market Overview and Regional Outlook Study 2016 – 2030

The demand for forklifts is driven by growing security and safety concerns for personnel who transport and lift big products. Additionally, the growth of e-commerce shopping platforms increased the size of the inventories held by market participants, which fueled the market's expansion. The expansion of e-commerce companies' distribution centres and warehouses has increased the demand for cutting-edge equipment for loading and transporting bulky goods, which has increased market income. Forklifts are being extensively used by e-commerce and third-party logistics (3PL) companies in their warehouses and distribution centres to facilitate simple product handling and quick client delivery. The overall amount spent on e-commerce was reported at USD 2.3 Tn in 2018 and is anticipated to reach USD 4.5 Tn by 2021.

However, the expensive expense of using battery- and fuel-cell-powered forklifts, as well as worries about pollution from forklifts driven by gasoline and diesel, limit market expansion. Nevertheless, it is anticipated that the market would experience profitable expansion in the approaching years due to improvements in the Middle East and Africa's industrial sector.

Drivers:

The e-commerce and logistics sectors are growing rapidly in North America.

Europe has a high demand for electric forklifts due to strict pollution regulations.

Automation is being adopted in North America and Europe's production processes at an increasing rate.

increasing Asia Pacific demand for automation

South American economies' need for improved productivity and an industrial sector

expansion of the aviation sector in MEA.

Get Free Sample Report: https://wemarketresearch.com/sample-request/forklift-market/584/ 

The Forklift Market – Market Trends
• Rising e-commerce and logistics sector growth in North America. Europe has a high demand for electric forklifts due to strict pollution regulations. Automation is being adopted in North America and Europe's production processes at an increasing rate.
• Increasing Asia Pacific demand for automation, South American economies' need for improved productivity and an industrial sector expansion of the aviation sector in MEA.
• The e-commerce industry is expanding quickly, which is fuelling demand for forklift trucks worldwide. The COVID-19 pandemic has raised the need for online products. This has increased the need for forklift trucks by causing a global increase in the number of warehouses and logistical hubs.
• During the projected period, the market is anticipated to be driven by an increase in infrastructure development investments as well as an increase in the usage of electric forklift trucks. Automated forklift trucks are becoming more and more popular among businesses as a way to improve warehouse management.
• However, it is projected that the industry would be hampered by the rise in safety concerns around forklift trucks and the high cost of their upkeep. To increase their revenue streams, market players are creating forklift trucks fuelled by hydrogen fuel cells.

The Forklift Market – Segmentation

The Forklift Market fragrance concentrates market has been sub-classified into class, application, capacity, automation type, propulsion.

On the basis of class, the Forklift Market is bifurcated into:

• Class 1: Electric Motor Rider Trucks

• Class 2: Electric Motor Narrow Aisle Trucks

• Class 3: Electric Motor Hand Trucks or Hand/Rider Trucks

• Class 4: Internal Combustion Engine Trucks (Solid/Cushion Tires)

• Class 5: Internal Combustion Engine Trucks (Pneumatic Tires)

• Class 6: Electric/IC Engine Tow Tractors

• Class 7: Rough Terrain Forklifts

 On the basis of application, the market is segmented into:

• Retail/ Wholesale

• Food/ Pharma

• Transport/ Logistics

• Manufacturing

• Automotive

• Ports/ Terminals

• Mining & Construction

• Chemical/ Energy

• Forestry/ Wood

• Others

 On the basis of capacity, the market is segmented into:

• 31 toons to 45 tons

• 46 Tons to 60 Tons

• 61 Tons to 90 Tons

• 91 Tons to 125 Tons

• Above 125 Tons

• Others

 On the basis of automation type, the market segmented into:

• Fully-automated

• Semi-automated

• Manual

• Others

 On the basis of propulsion, the market segmented into:

• Diesel

• Gasoline

• Battery electric

• Hybrid electric

• Others

The Forklift Market – Key Market players
Global key players of Forklift Market include Anhui Heli Co., Ltd.; CLARK; Crown Equipment Corporation; Doosan Corporation; Hangcha; Hyster-Yale Materials Handling, Inc.; Jungheinrich AG; KION Group AG; Komatsu Ltd.; Mitsubishi Logisnext Co., Ltd.; Toyota Material Handling, and others.’

Get More Information About This Report:

https://wemarketresearch.com/reports/forklift-market/584/

Frequently Asked Questions

• What is the estimated growth for the market during the forecast period?
• What are the factors that are estimated to hinder the growth of the market?
• What are some of the factors that are driving the growth of the market?
• Which region is estimated to lead the growth of the market during the forecast period?
• Who are the major players that are driving the growth of the market?