[Latest] Global Forklift Market Size/Share Worth USD 168.6 Billion by 2033 at a 13.8% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Forklift Market size & share revenue was valued at approximately USD 70.5 Billion in 2023 and is expected to reach USD 72.9 Billion in 2024 and is expected to reach around USD 168.6 Billion by 2033, at a CAGR of 13.8% between 2024 and 2033. The key market players listed in the report with their sales, revenues and strategies are Toyota Industries Corporation, KION Group AG, Jungheinrich AG, Mitsubishi Logisnext Co. Ltd., Crown Equipment Corporation, Hyster-Yale Materials Handling Inc., Anhui Forklift Group Co.Ltd., Hangcha Group Co. Ltd., Clark Material Handling Company, Komatsu Ltd., Doosan Corporation Industrial Vehicle, Hyundai Heavy Industries Co. Ltd., Lonking Holdings Limited, Godrej & Boyce Mfg. Co. Ltd., Manitou Group, UniCarriers Corporation, Combili

/EIN News/ -- Austin, TX, USA, April 16, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Forklift Market Size, Trends and Insights By Power Source (IC Engine Powered, Electric Powered), By Class (Class 1, Class 2, Class 3, Class 4, Class 5, Others), By End User (Retail & Wholesale, Logistics, Automotive, Food Industry, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.

“According to the latest research study, the demand of global Forklift Market size & share was valued at approximately USD 70.5 Billion in 2023 and is expected to reach USD 72.9 Billion in 2024 and is expected to reach a value of around USD 168.6 Billion by 2033, at a compound annual growth rate (CAGR) of about 13.8% during the forecast period 2024 to 2033.”

Click Here to Access a Free Sample Report of the Global Forklift Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=43870

Forklift Market: Overview

A forklift, also referred to as a lift truck, is a motorized industrial truck designed to lift, move, and carry large items and cargo over short distances. Forklifts have fork-like prongs or platforms connected to the front that can be lifted and dropped hydraulically to raise and move items.

The rising preference for electric forklifts is due to their environmental friendliness, cheaper operating costs, and technical improvements that improve battery efficiency.

Furthermore, there is a growing emphasis on safety features and automation, with the incorporation of cameras, sensors, and automated navigation systems to increase operator safety and efficiency.

Another noticeable development is the increase in renting and leasing options, which provide organizations with flexibility and cost savings. Furthermore, there is a rising need for specialized forklifts designed for certain sectors, such as narrow lane forklifts for warehouses and rough terrain forklifts for construction projects.

At last, globalization and e-commerce growth are driving the demand for more effective and agile material handling solutions, resulting in innovations and developments in the forklift market to suit changing client expectations.

By power source, IC engine powered segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. IC engine-powered forklifts remain popular because of their durability, high torque production, and extended running hours, which make them ideal for heavy-duty applications in industrial settings where electric alternatives may be impracticable.

By class, the class 3 segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Class 3 forklifts, which are noted for their maneuverability and effectiveness in small places, dominate the forklift industry owing to their appropriateness for interior activities and high-demand warehouse settings across the world.

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By end user, the retail & wholesale segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The retail and wholesale industries fuel the forklift industry because of their high need for efficient material handling and logistical operations in warehouses, distribution centers, and retail stores.

Asia-Pacific dominates the forklift market on account of fast industrial development, booming e-commerce, the rise of manufacturing centers, increased port facilities, and government efforts boosting industrial automation and technology use.

Crown manufactures a comprehensive range of electric and gasoline-powered lift trucks and components at 23 plants across the globe. Product sales and services are handled via the company’s network of Crown-owned and independently operated retailers in major areas.

Report Scope

Feature of the Report	Details
Market Size in 2024	USD 72.9 Billion
Projected Market Size in 2033	USD 168.6 Billion
Market Size in 2023	USD 70.5 Billion
CAGR Growth Rate	13.8% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Power Source, Class, End User and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Forklift report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

• Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
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• About 220+ Pages Research Report (Including Recent Research)
• Provide detailed chapter-by-chapter guidance on the Request.
• Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
• Includes Tables and figures have been updated.
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis 
• Custom Market Insights (CMI) research methodology

(Please note that the sample of the Forklift report has been modified to include the COVID-19 impact study prior to delivery.)

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CMI has comprehensively analyzed the Global Forklift market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict in depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Forklift industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

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Key questions answered in this report:

• What is the size of the Forklift market and what is its expected growth rate?
• What are the primary driving factors that push the Forklift market forward?
• What are the Forklift Industry's top companies?
• What are the different categories that the Forklift Market caters to?
• What will be the fastest-growing segment or region?
• In the value chain, what role do essential players play?
• What is the procedure for getting a free copy of the Forklift market sample report and company profiles?

Key Offerings:

• Market Share, Size & Forecast by Revenue | 2024−2033
• Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
• Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Forklift Market: Regional Insight

By region, Forklift market is segmented into North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa. The Asia-Pacific dominated the global Forklift market in 2023 with a market share of 40.3% and is expected to keep its dominance during the forecast period 2024-2033.

Several reasons contribute to Asia-Pacific’s dominance in the forklift industry. Growing industrialization and infrastructural growth in countries such as China, India, and Southeast Asia have raised demand for forklifts in the logistics, manufacturing, and construction industries.

The region’s thriving e-commerce business drives up the need for material handling equipment to help with warehouse operations and distribution. Furthermore, the expansion of manufacturing centres and port facilities in Asia-Pacific increases the demand for forklifts for cargo handling and transportation.

Furthermore, government measures supporting automated manufacturing and the adoption of modern technologies help to drive market expansion. In general, Asia-Pacific’s economic development, industrial expansion, and changing logistics landscape make it a vital player in the worldwide forklift industry.

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Browse the full “Forklift Market Size, Trends and Insights By Power Source (IC Engine Powered, Electric Powered), By Class (Class 1, Class 2, Class 3, Class 4, Class 5, Others), By End User (Retail & Wholesale, Logistics, Automotive, Food Industry, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” Report at https://www.custommarketinsights.com/report/forklift-market/

List of the prominent players in the Forklift Market:

• Toyota Industries Corporation
• KION Group AG
• Jungheinrich AG
• Mitsubishi Logisnext Co. Ltd.
• Crown Equipment Corporation
• Hyster-Yale Materials Handling Inc.
• Anhui Forklift Group Co.Ltd.
• Hangcha Group Co. Ltd.
• Clark Material Handling Company
• Komatsu Ltd.
• Doosan Corporation Industrial Vehicle
• Hyundai Heavy Industries Co. Ltd.
• Lonking Holdings Limited
• Godrej & Boyce Mfg. Co. Ltd.
• Manitou Group
• UniCarriers Corporation
• Combilift Ltd.
• Xiamen XGMA Machinery Co. Ltd.
• EP Equipment Co. Ltd.
• Tailift Co. Ltd.
• Others

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The Forklift Market is segmented as follows:

By Power Source

• IC Engine Powered
• Electric Powered

By Class

• Class 1
• Class 2
• Class 3
• Class 4
• Class 5
• Others

By End User

• Retail & Wholesale
• Logistics
• Automotive
• Food Industry
• Others

Click Here to Get a Free Sample Report of the Global Forklift Market @ https://www.custommarketinsights.com/report/forklift-market/

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

This Forklift Market Research/Analysis Report Contains Answers to the following Questions.

• Which Trends Are Causing These Developments?
• Who Are the Global Key Players in This Forklift Market? What are Their Company Profile, Product Information, and Contact Information?
• What Was the Global Market Status of the Forklift Market? What Was the Capacity, Production Value, Cost and PROFIT of the Forklift Market?
• What Is the Current Market Status of the Forklift Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Forklift Market by Considering Applications and Types?
• What Are Projections of the Global Forklift Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
• What Is Forklift Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
• What Is the Economic Impact On Forklift Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
• What Are Market Dynamics of Forklift Market? What Are Challenges and Opportunities?
• What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Forklift Industry?

Click Here to Access a Free Sample Report of the Global Forklift Market @ https://www.custommarketinsights.com/report/forklift-market/

Reasons to Purchase Forklift Market Report

• Forklift Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
• Forklift Market report outlines market value (USD) data for each segment and sub-segment.
• This report indicates the region and segment expected to witness the fastest growth and dominate the market.
• Forklift Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
• The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
• Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
• The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
• Forklift Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

• The study provides a thorough overview of the global Forklift market. Compare your performance to that of the market as a whole.

• Aim to maintain competitiveness while innovations from established key players fuel market growth.

Buy this Premium Forklift Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/forklift-market/

What does the report include?

• Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Forklift market analysis.

• The competitive environment of current and potential participants in the Forklift market is covered in the report, as well as those companies' strategic product development ambitions.

• According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

• For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

• Participants and stakeholders worldwide Forklift market should find this report useful. The research will be useful to all market participants in the Forklift industry.
• Managers in the Forklift sector are interested in publishing up-to-date and projected data about the worldwide Forklift market.
• Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Forklift products' market trends.
• Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. 

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