Global Forklift Market Overview:
Forklifts are a crucial part of warehouse and distribution centers. The growing automotive component manufacturing and consumable goods along with radical prosperity of the e-commerce industry are leading to an augmented demand for forklifts. The global forklift market size was $16, 89 billion as of 2018, and the demand for the same in multiple industries will grow at a compound annual growth rate (CAGR) of 2.28% during the forecast period of 2019 to 2025.
APAC is facing rapid expansion in the form of industrialization, construction, and the growth prospects in the automotive industry along with rise in disposable income that is also influencing the demand influx in the e-commerce sector. Rising adaptation of forklifts in major countries such as China is driving the forklift market in APAC. APAC had the maximum forklift regional market share at 32.76% in 2018.
Global Forklift Market Outlook:
Forklift is a powered industrial truck that is used to carry and move materials over a small distance. Forklifts have become the most crucial equipment in manufacturing and warehousing. Forklifts hydraulics are controlled by electrically controlled actuators or hydraulic values. The demand for electric forklifts is increasing as it doesn’t provide carbon monoxide which can be fatal for humans when inhaled.
Forklifts are used for transporting, pulling or lifting stacked boxes, crates, and other goods. The major application in the forklifts market are manufacturing and freight logistics, and it will grow with a moderate CAGR of 1.26% through to 2025.
Global Forklift Market Growth Drivers:
- Rising opportunities for technological advancements in the forklifts with ultra-capacitors are influencing the forklifts market.
- The rising manufacturing industries are driving a demand influx in the forklift market.
- Growing e-commerce and retail business worldwide is giving rise to warehouses that require forklifts to arrange the products in order. The growing demand for forklifts from e-commerce and retail is helping to continue the substantial growth in the forklifts market.
- Rising construction industry is also creating a demand for forklifts.
- The continued research and development coupled with various innovations in the industry are helping to resolve the problems and challenges faced by the consumers. The growing battery demand forklifts are driving progress in the forklift market.
Global Forklift Market Trends:
- Hydrogen Fuel
The research and developments in the materials handling and forklift industry have led to hydrogen-powered forklifts. The growing inclination of consumers from the battery, LPG, diesel to more environment-friendly solutions such as hydrogen fuel cell technologies will boost the growth of the forklift market.
- Lithium Ion Batteries Forklifts
The manufacturing of forklifts that runs on lithium ion batteries can able to run consistently over multiple shifts. The main benefit of lithium-ion batteries is it requires zero maintenance. Also, the efficiency of the ion batteries such as improve work productivity in superior cold or hot temperature zones. The fast charging features along with no watering, fumes and zero emission technology of lithium ions batteries are molding the forklift market growth into positive direction.
- Innovations in
the Engines of Forklifts
The innovations in the forklifts with internal combustion engines are gaining traction from the consumers. The internal combustion engines can easily accomplish all the operations including heavy-duty outdoor and well-ventilated indoor applications. The durability of the engine is better than traditional engines, new engines have a long life and can retain in the dustiest, dirtiest, and coldest conditions. The major feature such as no electrical-grid dependency are helping to continue the progression in the forklift market.
- Automation in
The manufacturing of robotics lift trucks in the material handling industry will give rise to several opportunities to dealers and sellers associated with the business. The improvisation in the forklifts with infrastructure-free navigation so that vehicle can self-locate, and rapid deployment. The growing demand for easy to use forklift is gaining traction from several retail and e-commerce business.
- Innovation for Drivers
The better model of forklifts are made with keeping concern for the driver side. The major advancement in forklifts are enhanced visibility space, foot space, noise management, and vibration control are some major changes been done to provide a comfortable ride to the operator of the forklifts.
- Ladders in the
The new models are designed which offers efficient efficiency, higher levels of safety, and flexibility in the models. The new models are designed for operations in which ladders are used to access high places.
Global Forklift Market Challenges:
Increasing safety and emission regulations along with a limited number of suppliers for a particular component are some major challenge in the forklift market. Increasing innovations are leading to the manufacturing of green trucks that don not emit the high fumes and pollution. Furthermore, the growing e-commerce website is directly proportional to the size of the warehouse containing products that are arranged in the form of a stack. The forklift, when operated manually sometimes, can disturb or thrash the arranged stacks due to an uncontrollable situation. The specially designed sensor based forklifts can work efficiently and the sensor helps forklifts to guide and regulate the lifting trucks to not disturb the stack order. The growing demand for sensor-based forklifts is influencing forklifts market development.
Global Forklift Market Key players Perspective:
Some of the major market players in the forklift market are Toyota Industries Corporation, Komatsu Ltd., Kion Group AG, Jungheinrich AG, Crown Equipment Corporation, Clark Material Handling Company, KION Group AG, Hyundai Heavy Industries, Mitsubishi Nichiyu Forklift Corporation, and Hyster-Yale Material handling Inc.
Forklift Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Forklift Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Forklift market, and its segmentation on the basis of Product Type includes conveying equipment, hoist, cranes and monorail.
Forklift Market Report: Industry Coverage
The report analyses the product demands by the Forklift Market on the basis of end-user that include retail & wholesale, automotive and logistics. The Forklift market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
Key Questions Addressed in the Forklift Market Report
Is the market demand for Forklift growing? How long will it continue to grow and at what rate?
Which type of Forklift presents the major growth opportunities?
Is there a possibility for change in the market structure over time?
Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands?
Do the key vendors look for partnerships to expand their businesses with respect to geography or product?
What are the short-term, long-term, and medium-term growth drivers for the market?
What are the short-term, medium-term, and long-term challenges for the market?
What are the short-term, medium-term, and long-term opportunities for the market
Who are the top players/companies of the market?
What are the recent innovations in the market?
How many patents have been filed by the leading players?
What are the types of patents filed by the leading players?
What is our Vision 2030 for Forklift market?
A Few Focus Points Of This Research Are Given Below:
- Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
- Provide an overview of the product portfolio, including product planning, development, and positioning
- Discuss the role of technology companies in partnerships
- Explore the regional sales activities
- Analyze the market size and giving the forecast for current and future global forklift market during the forecast 2019–2025.
- Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures.
1.1 Definitions and Scope
2. Forklift Market - Executive summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by type of Application
2.3 Key Trends segmented by Geography
3. Forklift Market
3.1 Comparative analysis
3.1.1 Product Benchmarking - Top 10 companies
3.1.2 Top 5 Financials Analysis
3.1.3 Market Value split by Top 10 companies
3.1.4 Patent Analysis - Top 10 companies
3.1.5 Pricing Analysis
4. Forklift Market - Startup companies Scenario Premium
4.1 Top 10 startup company Analysis by
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Forklift Market - Industry Market Entry Scenario Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis - Top 10 companies
6. Forklift Market Forces
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Forklift Market -Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Product life cycle
7.4 Suppliers and distributors Market Share
11.1 Forklift Market - North America Segment Research
11.2 North America Market Research (Million / $Billion)
11.2.1 Segment type Size and Market Size Analysis
11.2.2 Revenue and Trends
11.2.3 Application Revenue and Trends by type of Application
11.2.4 Company Revenue and Product Analysis
11.2.5 North America Product type and Application Market Size
184.108.40.206 Rest of North America
11.3 Forklift- South America Segment Research
11.4 South America Market Research (Market Size -$Million / $Billion)
11.4.1 Segment type Size and Market Size Analysis
11.4.2 Revenue and Trends
11.4.3 Application Revenue and Trends by type of Application
11.4.4 Company Revenue and Product Analysis
11.4.5 South America Product type and Application Market Size
220.127.116.11 Costa Rica
18.104.22.168 Rest of South America
11.5 Forklift- Europe Segment Research
11.6 Europe Market Research (Market Size -$Million / $Billion)
11.6.1 Segment type Size and Market Size Analysis
11.6.2 Revenue and Trends
11.6.3 Application Revenue and Trends by type of Application
11.6.4 Company Revenue and Product Analysis
11.6.5 Europe Segment Product type and Application Market Size
22.214.171.124 Rest of Europe
11.7 Forklift - APAC Segment Research
11.8 APAC Market Research (Market Size -$Million / $Billion)
11.8.1 Segment type Size and Market Size Analysis
11.8.2 Revenue and Trends
11.8.3 Application Revenue and Trends by type of Application
11.8.4 Company Revenue and Product Analysis
11.8.5 APAC Segment - Product type and Application Market Size
126.96.36.199 South Korea
188.8.131.52 Hong kong
184.108.40.206 Rest of APAC
11.9 Forklift - Middle East Segment and Africa Segment Research
11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
11.10.1 Segment type Size and Market Size Analysis
11.10.2 Revenue and Trend Analysis
11.10.3 Application Revenue and Trends by type of Application
11.10.4 Company Revenue and Product Analysis
11.10.5 Middle East Segment Product type and Application Market Size
220.127.116.11 Saudi Arabia
11.10.6 Africa Segment Analysis
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East & Africa
12. Forklift Market - Entropy
12.1 New product launches
12.2 M&A s, collaborations, JVs and partnerships
13. Forklift Market - Industry / Segment Competition landscape Premium
13.1 Market Share Analysis
13.1.1 Market Share by Country- Top companies
13.1.2 Market Share by Region- Top 10 companies
13.1.3 Market Share by type of Application - Top 10 companies
13.1.4 Market Share by type of Product / Product category- Top 10 companies
13.1.5 Market Share at global level - Top 10 companies
13.1.6 Best Practises for companies
14. Forklift Market - Key Company List by Country Premium
15. Forklift Market Company Analysis
15.1 Market Share, Company Revenue, Products, M&A, Developments
15.2 Clark Material Handling Company
15.3 Crown Equipment Corporation
15.4 Jungheinrich AG
15.5 Kion Group AG
15.6 Komatsu Ltd.
15.7 Toyota Industries Corporation
15.8 Company 8
15.9 Company 9 & More
17. Forklift Market - Methodology
17.1 Research Methodology
17.1.1 Company Expert Interviews
17.1.2 Industry Databases
17.1.4 Company News
17.1.5 Company Annual Reports
17.1.6 Application Trends
17.1.7 New Products and Product database
17.1.8 Company Transcripts
17.1.9 R&D Trends
17.1.10 Key Opinion Leaders Interviews
17.1.11 Supply and Demand Trends