DUBLIN--(BUSINESS WIRE)--Nov 8, 2022--
The "Forklifts - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Forklifts Market to Reach $53.2 Billion by 2027
Amid the COVID-19 crisis, the global market for Forklifts estimated at US$37.9 Billion in the year 2020, is projected to reach a revised size of US$53.2 Billion by 2027, growing at a CAGR of 5% over the period 2020-2027. Internal Combustion Engine (ICE), one of the segments analyzed in the report, is projected to record 4.6% CAGR and reach US$35.5 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Electric segment is readjusted to a revised 5.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $10.4 Billion, While China is Forecast to Grow at 6.2% CAGR
The Forklifts market in the U.S. is estimated at US$10.4 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$9.5 Billion by the year 2027 trailing a CAGR of 6.2% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.
Select Competitors (Total 81 Featured)
- Anhui Heli Co., Ltd.
- CLARK Material Handling Company (CMHC)- Combilift Ltd.
- Crown Equipment Corporation
- Godrej Material Handling
- HANGCHA GROUP CO., LTD
- Hyster-Yale Materials Handling, Inc.
- Jungheinrich AG
- KION Group AG
- Komatsu Ltd.
- Lonking Holdings Limited
- Mitsubishi Logisnext Co., Ltd.
- Toyota Industries Corporation
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Increasing Popularity of Fuel Cell-powered Forklifts to Drive Global Forklift Market
- Myriad Benefits to Broaden Battery-operated Forklifts Application
- Automated Forklifts Rise in Prominence
- Electric Forklifts Gain Traction
- Emphasis on Green Warehousing Steers Demand for Electric Forklifts
- Electric Forklifts Experience Impressive Makeover with Sophisticated Technology
- COVID-19 Glitches Hustle Forklift Users to Embrace Electric Versions
- Forklift Tires Market: Characterized by Growing Demand for Solid and Non-Marking Tires
- Lift Truck Become a Part of the Connected Enterprise Ecosystem
- Forklifts Emerge as an Important Material Handling System for the Logistics and Shipping Industry
- Third Party Logistics (3PL): Expanding in Industrial Manufacturing, Retail and Wholesale Sectors
- Expanding Retail Industry Generates Significant Opportunities
- Transition of Material Handling Operations in Automobile Industry Augurs Well for Forklifts Market
- How Automotive Industry Continues to be Impacted by the Pandemic & What's the New Normal?
- With Global E-Commerce Sales Skyrocketing, Growth in E-Commerce Warehouses Spurs Need for Forklifts
- Online Shopping Trend and Need to Improve Warehouse Efficiencies Drive Investments into Forklifts
- Great Technological Strides for Lift Trucks Used in Cold Storage Warehouses
- Safety Strategies for Operators to Minimize Forklift Accidents' Risk in Warehouses
- Anticipated Growth of Construction Sector to Present Favorable Outlook for Forklifts
- Technological Advancements Accelerate Market Expansion
- Technological Developments also Aim at Increasing Productivity
- Key Challenges
- Manufactures Face Challenges Producing Rough-Terrain Forklifts
- Introduction of Robotic based Humanless Warehouse: A Threat to the Market
- Rising Concerns over Forklift-related Safety Issues Restrain Market Growth
- Regulatory Framework in the Forklift Sector
- Percentage Breakdown of Number of Fatalities Attributed to Forklifts by Type of Accident in the US
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
- Forklifts Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
- An Overview of Material Handling Equipment Market
- United States Material Handling Equipment Market Share Breakdown by Segment: 2021
- North American Market Bears Severe Blow of COVID-19
- Developing E-Commerce Industry Drives Growth in Automated Systems
- E-Commerce Retail Sales in the US as % of Total Retail Sales (2015-2022)
- Focus Heightens on Sustainable Solutions
- Demand on Rise for Electric Forklifts
- Competitive Landscape
CANADA
JAPAN
CHINA
- Forklifts Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
- Market Overview
- Chinese Material Handling Equipment Market by Segment: Percentage Breakdown of Sales for 2021
- Chinese Forklift Manufacturers Aim for Overseas Markets
EUROPE
- Forklifts Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
- Market Overview
- European Material Handling Equipment Market Share Breakdown by Segment: 2021
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
AFRICA
IV. COMPETITION
- Total Companies Profiled: 81
For more information about this report visit https://www.researchandmarkets.com/r/2tqxhw
View source version on businesswire.com:https://www.businesswire.com/news/home/20221108005649/en/
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