Forklift Market Size & Industry Growth Analysis is Expected To Reach US$ 201.81 Billion By 2032, at a CAGR of 13.3% | PMR

According to the research report, the global forklift market was valued at USD 65.65 billion in 2023 and is expected to reach USD 201.81 billion by 2032, to grow at a CAGR of 13.3% during the forecast period.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/industry-analysis/forklift-market/request-for-sample

A forklift is a compact industrial vehicle possessing a power-propelled forked platform connected at the front that can be elevated and let down for positioning beneath a cargo to lift or move. Forklifts serve the requirements of several industries involving warehouses and alternate extensive repository prerequisites. They are fuelled by electric batteries or ignition engines. Some forklifts permit the operators to be seated while driving and functioning the machine, while others require operators to stand.

One key driver of the forklift market growth is the considerably escalating e-commerce industry and uninterrupted alterations in warehouse management over recent years. Also, the growing pervasiveness of pioneered forklifts is due to their capacity to function productively in several taxing topographies and convey bulky construction supplies.

𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝

The market topography is integrated with a handful of manufacturers regulating the bulk of the market share. Prominent companies are combining progressive safety attributes in forklifts to augment their customer base. Some of the companies that are currently dominating the forklift market are:

• Anhui Heli Co. Ltd.
• Crown Equipment Corporation
• Doosan Corporation
• Hyster-Yale Materials Handling Inc.
• Jungheinrich AG
• KION Group AG
• Komatsu Ltd.
• Mitsubishi Logisnext Co. Ltd.
• Toyota Material Handling
• Lonking Forklift Co. Ltd.
• Hyundai Vehicle America Corp.
• Cargotec
• Boyce Group
• Mitsubishi Nichiyu Forklift Co. Ltd.
• Manitou Group./li>

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/buy/2161/2

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

By class analysis, the class 3 segment witnessed the highest growth rate. This can be attributed to growing consciousness and approval amongst warehouses and several administration centers because of further down-based and low sustenance costs as juxtaposed to others. Additionally, by power source analysis, the electric segment will expand at the fastest rate due to the escalated acquisition of electric vehicles covering both advanced and advancing nations due to cost-saving maintenance prices as opposed to combustion engine-dependent vehicles.

𝐅𝐮𝐧𝐝𝐚𝐦𝐞𝐧𝐭𝐚𝐥 𝐒𝐭𝐚𝐭𝐬

• The market was valued at USD 65.65 billion in 2023 and is expected to grow to USD 201.81 billion by 2032.

• The market is anticipated to grow at a CAGR of 13.3% during the forecast period of 2024-2032.

• In 2022, Asia Pacific conquered the market. Also, North America is expected to witness a major growth rate.

𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.polarismarketresearch.com/industry-analysis/forklift-market

𝐅𝐨𝐫𝐤𝐥𝐢𝐟𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• Class 3 segment accounted high market share in 2022, which is mainly accelerated by its growing adoption among various distribution centers and warehouses

• Electric segment held the largest market share in 2022, on account of rapidly growing popularity of various innovated electric vehicles due to its eco-friendliness and lower operational & maintenance costs

• Asia Pacific region dominated the global market owing to the presence of large industrial manufacturing companies in countries like China and India and demand for innovated material handling equipment

• The global key market players include Crown Equipment Corporation, Hyster-Yale Materials Handling Inc., Toyota Material Handling, Hyundai Vehicle America Corporation, and Boyce Group

𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐀𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐛𝐲 𝐄𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐞𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/electric-transporters-market

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬 (𝐄𝐯) 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/electric-vehicles-ev-market

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐏𝐨𝐰𝐞𝐫𝐭𝐫𝐚𝐢𝐧 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/electric-powertrain-market

𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥 𝐇𝐚𝐧𝐝𝐥𝐢𝐧𝐠 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/material-handling-equipment-market

𝐌𝐢𝐧𝐢𝐧𝐠 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/mining-equipment-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:

Polaris Market Research
30 Wall Street, 8th Floor,
New York City, NY 10005,
United States
Phone:+1-929 297-9727
Email: sales@polarismarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.

This release was published on openPR.