Forklift Truck Market Value Projected to Expand by 2028

The global forklift truck market is anticipated to grow at a considerable CAGR of 4.9% during the forecast period. The primary factor fueling the market growth is the active participation of key market companies. The market players are consistently growing the competition in the market via their new launches, innovations, and collaborations which are contributing to the growth of the market. Some of the recent developments adopted recently include-

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The global forklift truck market is segmented based on the power-train type, class, and end-user vertical. Based on the power-train type, the market is segmented into an internal combustion engine (ICE), and an electric motor. Based on the class, the market is sub-segmented into class I, class II, class III, and class IV. Based on the end-user vertical, the market is sub-segmented into industrial, construction, and manufacturing. The above-mentioned segments can be customized as per the requirements. Based on the power-train type, the electric motor segment is anticipated to grow significantly in the market owing to the rapid advancement in the electric motor technologies while based on end-user vertical, the construction segment is anticipated to grow significantly during the forecast period owing to the government initiatives for constructing big, and complex infrastructures.

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  • Market Coverage
  • Market number available for – 2022-2028
  • Base year- 2021
  • Forecast period- 2022-2028
  • 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
  • Canada

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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