Forklift Truck Market by Power Source (IC Engine Powered and Electric Powered), by Class (Class I, Class II, Class III, Class IV, and Class V), by End User (Retail & Wholesale, Logistics, Automotive, Food Industry, and Others) - Global Opportunity Analysis and Industry Forecast, 2020 - 2030

Abstract
Market Definition:

At an estimated value of over USD 44.09 billion in 2019, the global forklift truck market is predicted to thrive at a CAGR of 5.8% to be valued at USD 91.98 billion. Forklift trucks are powered vehicles designed to move or carry heavy objects over a limited distance. Adoption of forklift trucks is popular among industries affiliated with the loading and unloading of goods. These vehicles are commonly used in dockyards, warehouses, and recycling factories among others. These vehicles are used with some attachments such as platforms and grippers for efficient handling of goods and are classified based on their weight bearing capacity.

Market Dynamics and Trends

Rising investments by the market players is expected to drive the market growth. Recent developments in the e-commerce business has created a need for bulk warehousing, which in turn has influenced the growth of forklift truck market. Advantages offered by forklift trucks such as time saving and increased efficiency are also expected to boost their adoption in various industries. Other benefits such as reduced chances of accidents and injuries related to forklifts on work site and rising demand for easy movement and organization of goods are expected to add additional revenue to the forklift truck market. Moreover, technological advancements coupled with the development of infrastructure are expected to further influence market growth. However, high cost of forklift trucks is anticipated to hamper the market growth within the forecast period.

Market Segmentations and Scope of the Study:

The global forklift truck market is segmented on the basis of power source, class, end use and geography. On the basis of power, source the market is segmented into IC engine powered and electric powered. On the basis of class, the market is segmented into class 1, class 2, class 3, class 4, class 5 and others. On the basis of end use, the market is segmented into retail & wholesale, logistics, automotive, food industry and other end use. Based on geography the market is segmented into North America, Europe, Asia Pacific and RoW.

Geographical Analysis

North America is anticipated to hold the lion share of the market due to improved infrastructure and increased industrialization in this region. Also, rapid adoption of forklifts into numerous industries is expected to add revenue to the forklift truck market. Asia Pacific region is predicted to show rapid and consistent growth in terms of market share within the forecast period due to increase in demand for automation in developing countries. Also, factors such as improving economy as well as rise in urbanization are anticipated to further drive market growth in this region.

Competitive Landscape

Lucrative growth opportunities make the forklift truck market extremely competitive. Some of the major players in the market include Crown Equipment Corporation, EP Equipment, Hangcha, Hyster-Yale Material Handling, Inc., Jungheinrich AG, Kion Group AG, Komatsu Ltd., Lonking Machinery Co., Ltd., Mitsubishi Logisnext Co., Ltd., Toyota Industries Corporation, and others. Strategic alliances, and innovative product launches are key strategies adopted by market players to maintain their market dominance. For instance, in April 2019, JBT Corporation, has announced the launch of a new dual-mode AGV to the market in collaboration with Hyster-Yale Materials Handling.

KEY MARKET SEGMENTS:

Global forklift truck market– By power source

IC powered

Electric powered

Global forklift truck market – By class

Class 1

Class 2

Class 3

Class 4

Class 5
-thers

Global forklift truck market – By end use

Retail and wholesale

Logistics

Automotive

Food industry
-thers

Global forklift truck market - by geography

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Rest of Europe

Asia-Pacific

Japan

China

Malaysia

Australia

Rest of Asia-Pacific

RoW

Latin America

Middle East

Africa

Content
1. INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. RESEARCH METHODOLOGY
1.2.1 SECONDARY RESEARCH
1.2.2 DATA ANALYSIS FRAMEWORK
1.2.3 MARKET SIZE ESTIMATION
1.2.4 FORECASTING
1.2.5 PRIMARY RESEARCH AND DATA VALIDATION
2. MARKET SNAPSHOT, 2019-2030 MILLION USD
2.1. MARKET SNAPSHOT
3. PORTER’S FIVE FORCE MODEL ANALYSIS
4. MARKET DYNAMICS
4.1. GROWTH DRIVERS
4.1.1 DRIVER 1
4.1.2 DRIVER 2
4.1.3 DRIVER 3
4.1.4 DRIVER 4
4.2. CHALLENGES
4.2.1 CHALLENGE 1
4.2.2 CHALLENGE 2
4.3. OPPORTUNITIES
4.3.1 OPPORTUNITY 1
4.3.2 OPPORTUNITY 2
5. GLOBAL FORKLIFT TRUCK MARKET, BY POWER SOURCE
5.1. OVERVIEW
5.2. IC ENGINE POWERED
5.2.1 IC ENGINE POWERED MARKET, BY REGION
5.2.1.1 North America IC Engine Powered Market, By Country
5.2.1.2 Europe IC Engine Powered Market, By Country
5.2.1.3 Asia-Pacific IC Engine Powered Market, By Country
5.2.1.4 Rest of World IC Engine Powered Market, By Country
5.3. ELECTRIC POWERED
5.3.1 ELECTRIC POWERED MARKET, BY REGION
5.3.1.1 North America Electric Powered Market, By Country
5.3.1.2 Europe Electric Powered Market, By Country
5.3.1.3 Asia-Pacific Electric Powered Market, By Country
5.3.1.4 Rest of World Electric Powered Market, By Country
6. GLOBAL FORKLIFT TRUCK MARKET, BY CLASS
6.1. OVERVIEW
6.2. CLASS 1
6.2.1 CLASS 1 MARKET, BY REGION
6.2.1.1 North America Class 1 Market, By Country
6.2.1.2 Europe Class 1 Market, By Country
6.2.1.3 Asia-Pacific Class 1 Market, By Country
6.2.1.4 Rest of World Class 1 Market, By Country
6.3. CLASS 2
6.3.1 CLASS 2 MARKET, BY REGION
6.3.1.1 North America Class 2 Market, By Country
6.3.1.2 Europe Class 2 Market, By Country
6.3.1.3 Asia-Pacific Class 2 Market, By Country
6.3.1.4 Rest of World Class 2 Market, By Country
6.4. CLASS 3
6.4.1 CLASS 3 MARKET, BY REGION
6.4.1.1 North America Class 3 Market, By Country
6.4.1.2 Europe Class 3 Market, By Country
6.4.1.3 Asia-Pacific Class 3 Market, By Country
6.4.1.4 Rest of World Class 3 Market, By Country
6.5. CLASS 4
6.5.1 CLASS 4 MARKET, BY REGION
6.5.1.1 North America Class 4 Market, By Country
6.5.1.2 Europe Class 4 Market, By Country
6.5.1.3 Asia-Pacific Class 4 Market, By Country
6.5.1.4 Rest of World Class 4 Market, By Country
6.6. CLASS 5
6.6.1 CLASS 5 MARKET, BY REGION
6.6.1.1 North America Class 5 Market, By Country
6.6.1.2 Europe Class 5 Market, By Country
6.6.1.3 Asia-Pacific Class 5 Market, By Country
6.6.1.4 Rest of World Class 5 Market, By Country
6.7. OTHER CLASSES
6.7.1 OTHER CLASSES MARKET, BY REGION
6.7.1.1 North America Other Classes Market, By Country
6.7.1.2 Europe Other Classes Market, By Country
6.7.1.3 Asia-Pacific Other Classes Market, By Country
6.7.1.4 Rest of World Other Classes Market, By Country
7. GLOBAL FORKLIFT TRUCK MARKET, BY END USER
7.1. OVERVIEW
7.2. RETAIL & WHOLESALE
7.2.1 RETAIL & WHOLESALE MARKET, BY REGION
7.2.1.1 North America Retail & Wholesale Market, By Country
7.2.1.2 Europe Retail & Wholesale Market, By Country
7.2.1.3 Asia-Pacific Retail & Wholesale Market, By Country
7.2.1.4 Rest of World Retail & Wholesale Market, By Country
7.3. LOGISTICS
7.3.1 LOGISTICS MARKET, BY REGION
7.3.1.1 North America Logistics Market, By Country
7.3.1.2 Europe Logistics Market, By Country
7.3.1.3 Asia-Pacific Logistics Market, By Country
7.3.1.4 Rest of World Logistics Market, By Country
7.4. AUTOMOTIVE
7.4.1 AUTOMOTIVE MARKET, BY REGION
7.4.1.1 North America Automotive Market, By Country
7.4.1.2 Europe Automotive Market, By Country
7.4.1.3 Asia-Pacific Automotive Market, By Country
7.4.1.4 Rest of World Automotive Market, By Country
7.5. FOOD INDUSTRY
7.5.1 FOOD INDUSTRY MARKET, BY REGION
7.5.1.1 North America Food Industry Market, By Country
7.5.1.2 Europe Food Industry Market, By Country
7.5.1.3 Asia-Pacific Food Industry Market, By Country
7.5.1.4 Rest of World Food Industry Market, By Country
7.6. OTHER END USER
7.6.1 OTHER END USER MARKET, BY REGION
7.6.1.1 North America Other End User Market, By Country
7.6.1.2 Europe Other End User Market, By Country
7.6.1.3 Asia-Pacific Other End User Market, By Country
7.6.1.4 Rest of World Other End User Market, By Country
8. GLOBAL FORKLIFT TRUCK MARKET, BY REGION
8.1. OVERVIEW
8.2. NORTH AMERICA
8.2.1 NORTH AMERICA FORKLIFT TRUCK MARKET, BY POWER SOURCE
8.2.2 NORTH AMERICA FORKLIFT TRUCK MARKET, BY CLASS
8.2.3 NORTH AMERICA FORKLIFT TRUCK MARKET, BY END USER
8.2.4 NORTH AMERICA FORKLIFT TRUCK, MARKET BY COUNTRY
8.2.4.1 U.S.
8.2.4.1.1 U.S. Forklift Truck Market, By Power Source
8.2.4.1.2 U.S. Forklift Truck Market, By Class
8.2.4.1.3 U.S. Forklift Truck Market, By End User
8.2.4.2 Canada
8.2.4.2.1 Canada Forklift Truck Market, By Power Source
8.2.4.2.2 Canada Forklift Truck Market, By Class
8.2.4.2.3 Canada Forklift Truck Market, By End User
8.2.4.3 Mexico
8.2.4.3.1 Mexico Forklift Truck Market, By Power Source
8.2.4.3.2 Mexico Forklift Truck Market, By Class
8.2.4.3.3 Mexico Forklift Truck Market, By End User
8.3. EUROPE
8.3.1 EUROPE FORKLIFT TRUCK MARKET, BY POWER SOURCE
8.3.2 EUROPE FORKLIFT TRUCK MARKET, BY CLASS
8.3.3 EUROPE FORKLIFT TRUCK MARKET, BY END USER
8.3.4 EUROPE FORKLIFT TRUCK, MARKET BY COUNTRY
8.3.4.1 Germany
8.3.4.1.1 Germany Forklift Truck Market, By Power Source
8.3.4.1.2 Germany Forklift Truck Market, By Class
8.3.4.1.3 Germany Forklift Truck Market, By End User
8.3.4.2 UK
8.3.4.2.1 UK Forklift Truck Market, By Power Source
8.3.4.2.2 UK Forklift Truck Market, By Class
8.3.4.2.3 UK Forklift Truck Market, By End User
8.3.4.3 France
8.3.4.3.1 France Forklift Truck Market, By Power Source
8.3.4.3.2 France Forklift Truck Market, By Class
8.3.4.3.3 France Forklift Truck Market, By End User
8.3.4.4 Italy
8.3.4.4.1 Italy Forklift Truck Market, By Power Source
8.3.4.4.2 Italy Forklift Truck Market, By Class
8.3.4.4.3 Italy Forklift Truck Market, By End User
8.3.4.5 Rest of Europe
8.3.4.5.1 Rest of Europe Forklift Truck Market, By Power Source
8.3.4.5.2 Rest of Europe Forklift Truck Market, By Class
8.3.4.5.3 Rest of Europe Forklift Truck Market, By End User
8.4. ASIA-PACIFIC
8.4.1 ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY POWER SOURCE
8.4.2 ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY CLASS
8.4.3 ASIA-PACIFIC FORKLIFT TRUCK MARKET, BY END USER
8.4.4 ASIA-PACIFIC FORKLIFT TRUCK, MARKET BY COUNTRY
8.4.4.1 China
8.4.4.1.1 China Forklift Truck Market, By Power Source
8.4.4.1.2 China Forklift Truck Market, By Class
8.4.4.1.3 China Forklift Truck Market, By End User
8.4.4.2 Malaysia
8.4.4.2.1 Malaysia Forklift Truck Market, By Power Source
8.4.4.2.2 Malaysia Forklift Truck Market, By Class
8.4.4.2.3 Malaysia Forklift Truck Market, By End User
8.4.4.3 Japan
8.4.4.3.1 Japan Forklift Truck Market, By Power Source
8.4.4.3.2 Japan Forklift Truck Market, By Class
8.4.4.3.3 Japan Forklift Truck Market, By End User
8.4.4.4 Australia
8.4.4.4.1 Australia Forklift Truck Market, By Power Source
8.4.4.4.2 Australia Forklift Truck Market, By Class
8.4.4.4.3 Australia Forklift Truck Market, By End User
8.4.4.5 Rest of Asia-Pacific
8.4.4.5.1 Rest of Asia-Pacific Forklift Truck Market, By Power Source
8.4.4.5.2 Rest of Asia-Pacific Forklift Truck Market, By Class
8.4.4.5.3 Rest of Asia-Pacific Forklift Truck Market, By End User
8.5. REST OF WORLD
8.5.1 REST OF WORLD FORKLIFT TRUCK MARKET, BY POWER SOURCE
8.5.2 REST OF WORLD FORKLIFT TRUCK MARKET, BY CLASS
8.5.3 REST OF WORLD FORKLIFT TRUCK MARKET, BY END USER
8.5.4 REST OF WORLD FORKLIFT TRUCK, MARKET BY COUNTRY
8.5.4.1 Latin America
8.5.4.1.1 Latin America Forklift Truck Market, By Power Source
8.5.4.1.2 Latin America Forklift Truck Market, By Class
8.5.4.1.3 Latin America Forklift Truck Market, By End User
8.5.4.2 Middle East
8.5.4.2.1 Middle East Forklift Truck Market, By Power Source
8.5.4.2.2 Middle East Forklift Truck Market, By Class
8.5.4.2.3 Middle East Forklift Truck Market, By End User
8.5.4.3 Africa
8.5.4.3.1 Africa Forklift Truck Market, By Power Source
8.5.4.3.2 Africa Forklift Truck Market, By Class
8.5.4.3.3 Africa Forklift Truck Market, By End User
9. COMPANY PROFILES
9.1. CROWN EQUIPMENT CORPORATION
9.1.1 COMPANY OVERVIEW
9.1.2 COMPANY SNAPSHOT
9.1.3 OPERATING BUSINESS SEGMENTS
9.1.4 PRODUCT PORTFOLIO
9.1.5 BUSINESS PERFORMANCE
9.1.6 KEY STRATEGIC MOVES AND DEVELOPMENT
9.2. EP EQUIPMENT
9.2.1 COMPANY OVERVIEW
9.2.2 COMPANY SNAPSHOT
9.2.3 OPERATING BUSINESS SEGMENTS
9.2.4 PRODUCT PORTFOLIO
9.2.5 BUSINESS PERFORMANCE
9.2.6 KEY STRATEGIC MOVES AND DEVELOPMENT
9.3. HANGCHA
9.3.1 COMPANY OVERVIEW
9.3.2 COMPANY SNAPSHOT
9.3.3 OPERATING BUSINESS SEGMENTS
9.3.4 PRODUCT PORTFOLIO
9.3.5 BUSINESS PERFORMANCE
9.3.6 KEY STRATEGIC MOVES AND DEVELOPMENT
9.4. HYSTER-YALE MATERIALS HANDLING, INC.
9.4.1 COMPANY OVERVIEW
9.4.2 COMPANY SNAPSHOT
9.4.3 OPERATING BUSINESS SEGMENTS
9.4.4 PRODUCT PORTFOLIO
9.4.5 BUSINESS PERFORMANCE
9.4.6 KEY STRATEGIC MOVES AND DEVELOPMENT
9.5. JUNGHEINRICH AG
9.5.1 COMPANY OVERVIEW
9.5.2 COMPANY SNAPSHOT
9.5.3 OPERATING BUSINESS SEGMENTS
9.5.4 PRODUCT PORTFOLIO
9.5.5 BUSINESS PERFORMANCE
9.5.6 KEY STRATEGIC MOVES AND DEVELOPMENT
9.6. KION GROUP AG
9.6.1 COMPANY OVERVIEW
9.6.2 COMPANY SNAPSHOT
9.6.3 OPERATING BUSINESS SEGMENTS
9.6.4 PRODUCT PORTFOLIO
9.6.5 BUSINESS PERFORMANCE
9.6.6 KEY STRATEGIC MOVES AND DEVELOPMENT
9.7. KOMATSU LTD.
9.7.1 COMPANY OVERVIEW
9.7.2 COMPANY SNAPSHOT
9.7.3 OPERATING BUSINESS SEGMENTS
9.7.4 PRODUCT PORTFOLIO
9.7.5 BUSINESS PERFORMANCE
9.7.6 KEY STRATEGIC MOVES AND DEVELOPMENT
9.8. LONKING MACHINERY CO., LTD.
9.8.1 COMPANY OVERVIEW
9.8.2 COMPANY SNAPSHOT
9.8.3 OPERATING BUSINESS SEGMENTS
9.8.4 PRODUCT PORTFOLIO
9.8.5 BUSINESS PERFORMANCE
9.8.6 KEY STRATEGIC MOVES AND DEVELOPMENT
9.9. MITSUBISHI LOGISNEXT CO., LTD.
9.9.1 COMPANY OVERVIEW
9.9.2 COMPANY SNAPSHOT
9.9.3 OPERATING BUSINESS SEGMENTS
9.9.4 PRODUCT PORTFOLIO
9.9.5 BUSINESS PERFORMANCE
9.9.6 KEY STRATEGIC MOVES AND DEVELOPMENT
9.10. TOYOTA INDUSTRIES CORPORATION
9.10.1 COMPANY OVERVIEW
9.10.2 COMPANY SNAPSHOT
9.10.3 OPERATING BUSINESS SEGMENTS
9.10.4 PRODUCT PORTFOLIO
9.10.5 BUSINESS PERFORMANCE
9.10.6 KEY STRATEGIC MOVES AND DEVELOPMENT