NEW YORK, Jan. 16, 2017 /PRNewswire/ -- "In order to meet stringent emission regulations by the European Commission and Environment Protection Agency, the forklift manufacturers are focusing on battery-electric forklifts."
The global forklift market is projected to grow at a CAGR of 1.93%, from USD 16.00 billion in 2016 to USD 17.61 billion by 2021. The market is expected to reach 1.5 million units by 2021 in terms of value. The fastest growing trend in the global forklift market is the battery operated forklift. The demand for battery-operated forklifts has increased because of their enhanced performance levels and greater productivity. In addition, battery-operated forklifts also provide emission control advantage and are more economical as compared to ICE industrial vehicles.
"The manufacturing segment is estimated to hold largest market size"
The manufacturing segment is estimated to hold largest market size of forklifts in 2016, owing to rise in demand for infrastructural development. The paper industry, steel & iron industry, automotive industry, food and beverage industry, and others are the few examples of manufacturing industries where forklifts are being used. However, distribution segment is expected to lead the market by 2021 significantly due to increasing number of warehouses being set up across the regions.
"Asia-Pacific is the largest region in the global forklift market"
In 2016, the largest regional market for the forklift is the Asia-Pacific market, which holds majority of the market share of the global forklift market by value and volume. The adoption of forklift in the Indian and Chinese market is estimated to be low, but this trend is projected to increase rapidly in the near future as the Asian countries are developing in e-commerce and industrial manufacturing sectors. The European forklift market is the fastest growing, which is dominated by Germany, a key market for the forklifts in the region.
The study contains insights provided by various industry experts, ranging from forklift manufacturers to Tier–3 companies and various industry associations.
The break–up of the primaries is as follows:
By Company Type: Tier I–89%, Tier II–5%, and Tier III–6%
By Designation: C Level–5%, D Level–56%, and Manager level–39%
By Region: Americas-17%, Europe-33%, Asia-Pacific-33% and RoW-17%
Players Profiled in the Report are:
- Toyota Industries Corporation
- KION Group
- Hyster-Yale Material Handling
- Jungheinrich Group
- Mitsubishi Nichiyu Forklift
- Crown Equipment Corporation
- Clark Material Handling
- Anhui Forklift
- Hangcha Group
- Komatsu Limited
The report covers the global forklift market based on region (Americas, Europe, Asia-Pacific, Rest of the World-Africa and Oceania), Class (Class 1 -Electric Rider Trucks–Counterbalanced, Class 2 Electric Warehouse Rider Truck, Class 3 Electric Warehouse Pedestrian Trucks, Class 4&5 Internal Combustion Trucks, Cushion and Pneumatic Tires, Counterbalanced), Tonnage Capacity (Less than 5 ton by region, 5 ton - 10 ton by region, 11 ton - 36 ton by region, Above 36 ton), Fuel (Diesel, Gasoline & LPG/CNG, Battery-electric).
Reasons to Buy the Report:
The report provides insights about the following points:
- Market Penetration: Comprehensive information about forklift offered by the top players in the industry
- Regulatory Framework: Detailed insights into stringent emission regulations, and the effect of the regulations on the market
- Market Development: Comprehensive information about various engine technology trends. The report analyzes the markets for various engine technologies across the countries
- Market Diversification: Exhaustive information about emerging technologies, recent developments, and investments in the global forklift market
- Competitive Assessment: In-depth assessment of strategies, services, and manufacturing capabilities of leading players in the global forklift market
Read the full report: http://www.reportlinker.com/p04608258-summary/view-report.html
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