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Based on the power-train type, the electric motor segment is anticipated to grow significantly in the market during the forecast period owing to the rapid advancement in electric motor technologies. The market is inclining on electrically-powered forklift trucks due to their growing popularity and applications. Such forklifts are much suitable for the applications of sensors and actuators for performing autonomous work. Another advantage of using an electrically-powered forklift includes the rising requirement for storing fuel for them at the place of operation which improves the maintenance much more affordable than the ICE forklift trucks. Many forklift truck market players are active in the field and are continuously launching new models to stay abreast of their competition. For instance, in October 2019, Toyota Industries Corp., launched the Traigo 80 heavy-duty (HD) electric forklift. Later, in April 2020, the company launched 2 new models of its lineup of sit-down counterbalance, four-wheeled electric forklift trucks. These new 3,500-pound and 3,000-pound models are anticipated to show up to 27% faster lift, travel, and lower speeds, along with increased run-time by 12%, as compared to the outgoing models.
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- Market Coverage
- Market number available for – 2025-2031
- Base year- 2025
- Forecast period- 2025-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global Forklift Truck Market Report Segment
By Power-Train Type
- Internal Combustion Engine (ICE)
- Electric Motor
By Class
- Class I
- Class II
- Class III
- Class IV
By End-User Vertical
- Industrial
- Construction
- Manufacturing
Global Forklift Truck Market Report Segment by Region
North America
- US
- copyright
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global forklift truck market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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