Forklift Truck Market Size, Share, Forecasts, Company Growth, Company Profiles And Key Regions, 2019 - 2027

Forklift trucks are powerful, heavy-duty electric lift trucks that are commonly used to lift and transport big things over short distances, such as container goods, crates, and other similar components. These trucks are commonly seen in dockyards, warehousing operations, and recycling operations, where they execute tasks such as loading and unloading items from cars and moving packed goods around the storage area. Furthermore, forklifts are often powered by either an electric battery or internal combustion engines. Forklifts are also classed into many classes based on their weight and characteristics, such as class 1, class 2, class 3, class 4, and so on. Furthermore, these vehicles are equipped with a variety of attachments, such as platforms and grippers, to facilitate the handling of goods and lower operating costs.

From 2019 to 2027, the Forklift Truck Market is expected to reach US$ 25.04 billion, increasing at a CAGR of 4.02 percent. Industrial lifting trucks are forklift trucks. These forklift trucks are used to transport things from one area to another. Forklift trucks are commonly used in the manufacturing and warehouse industries to carry heavy objects to multiple places in a short period of time in order to speed up the production process.

 E-commerce developments are propelling the worldwide forklift truck industry forward. Furthermore, increased infrastructure investment is expected to drive market growth. However, the rise in Forklift Truck Market safety concerns is impeding market growth. Furthermore, the development of autonomous forklift trucks and the production of hydrogen fuel cell forklifts provide significant potential opportunities for forklift truck manufacturers.

 Because governments in several nations applied tight lockdown measures, corporations in the automotive, manufacturing, logistics, and materials handling industries, among others, shut down their factories. As a result of these circumstances, demand for Forklift Truck Market has decreased in a number of countries. Border closures and traffic delays are also likely to cause supply chain problems.

Infrastructure investments are on the rise.

Various countries' governments have taken infrastructure development initiatives. Telehandler demand is being boosted by increased real estate investment. At the same time, strengthening economies in developing nations such as Australia, China, and Indonesia have resulted in large-scale foreign investments, fueling the expansion of the forklift trucks market in numerous sectors.

Toyota Industries Corporation, Kion Group AG, Jungheinrich AG, Hyster-Yale Materials Handling, Inc., Crown Equipment Corporation, Mitsubishi Nichiyu Forklift Co., Ltd., UniCarriers Americas Corporation, Anhui Heli Company Limited, Komatsu Ltd., Clark Material Handling Co., Ltd., Doosan Industrial Vehicle, Hangcha Group Co., Ltd., JBT Corporation, Combilift Ltd, Godrej & Boyce Mfg. Co.