Global Forklift Truck Market Report 2022-2028: Growth in Infrastructure Projects Drives Demand

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Mar 09, 2023, 18:00 ET

DUBLIN, March 9, 2023 /PRNewswire/ -- The "Global Forklift Truck Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.

MARKET OUTLOOK

Based on this research report, the global forklift truck market is expected to advance with a CAGR of 7.62% during the forecast period 2022-2028.

The global market's growth is fueled by factors such as rising infrastructure projects, warehouse expansions, and the growing e-commerce industry. Additionally, the rise in government expenditure is another factor opening new avenues for the forklift truck market.

However, the volatile cost of raw materials is expected to hamper the overall development of the forklift truck market.

REGIONAL OUTLOOK

The global forklift truck market includes North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa regions.

Globally, the Asia-Pacific is anticipated to witness the fastest growth over the forecast period. The region's robust growth is mainly on account of industrialization, rising labor costs, and a rise in trade activities. For instance, China's robust fiscal stimulus packages have led to the development of various sectors, driving the adoption of industrial equipment like forklift trucks. Further, the intense vendor competition has compelled forklift truck manufacturers to shift their focus to the region for new opportunities. Therefore, these factors are anticipated to widen the Asia-Pacific market's scope.

COMPETITIVE OUTLOOK

The notable companies in the forklift truck market include Hangcha Group Co Ltd, Anhui Heli Co Ltd, Toyota Industries Corporation, Komatsu Ltd, Kion Group AG, EP Equipment Co Ltd, Clark Material Handling Company, Mitsubishi Logisnext Co Ltd, Jungheinrich AG, Crown Equipment Corporation, Lonking Holdings Limited, Hyster-Yale Materials Handling Inc, Godrej & Boyce Manufacturing Company Limited, Hyundai Heavy Industries Co Ltd, and Doosan Group.

Toyota Industries Corporation manufactures and sells automobiles, textile machinery, and material handling equipment. The company is among the core companies of the Toyota Group. It offers automotive and lift truck stamping dies, lift and counterbalanced trucks, pallet trucks, and land transportation services. Its product line includes Raymond 700 series reach-fork trucks designed for efficiency in narrow aisle applications. Toyota serves clients globally, with headquarters located in Japan.

Market Dynamics

Market Drivers

Growth in Infrastructure Projects
Warehouse Expansions
Thriving E-Commerce Industry

Market Challenges

Volatile Cost of Raw Materials

Market Opportunities

Increased Government Expenditure in Emerging Economies
Rising Investments in Autonomous Forklift Trucks

Key Topics Covered:

1. Global Forklift Truck Market - Summary

2. Industry Outlook

3. Global Forklift Truck Market Outlook - by Product Type
3.1. Warehouse Forklift
3.2. Counterbalance Forklift

4. Global Forklift Truck Market Outlook - by Power Source
4.1. Internal Combustion Engine
4.2. Electric Motor

5. Global Forklift Truck Market Outlook - by Class
5.1. Class 1
5.2. Class 2
5.3. Class 3
5.4. Class 4
5.5. Class 5

6. Global Forklift Truck Market Outlook - by End-User
6.1. Retail & Wholesale
6.2. Logistics
6.3. Manufacturing
6.4. Automotive
6.5. Food Industry
6.6. Other End-Users

7. Global Forklift Truck Market - by Regional Outlook

8. Competitive Landscape

9. Research Methodology & Scope

A selection of companies mentioned in this report includes

Hangcha Group Co Ltd
Kion Group AG
Anhui Heli Co Ltd
Clark Material Handling Company
Crown Equipment Corporation
Toyota Industries Corporation
Mitsubishi Logisnext Co Ltd
Jungheinrich AG
Ep Equipment Co Ltd
Hyster-Yale Materials Handling Inc
Hyundai Heavy Industries Co Ltd
Komatsu Ltd
Lonking Holdings Limited
Godrej & Boyce Manufacturing Company Limited
Doosan Group

For more information about this report visit https://www.researchandmarkets.com/r/2d2mam

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SOURCE Research and Markets