NEW YORK, Dec. 19, 2022 /PRNewswire/ -- The forklift trucks market size is forecast to increase by 357 thousand units from 2022 to 2027, at a CAGR of 4.32%, according to the recent market study by Technavio. The growth of the market will be driven by the rapid growth in the construction sector, rapid growth in e-commerce retail, and high growth potential in emerging markets.
Technavio categorizes the global forklift trucks market as a part of the global construction machinery and heavy trucks market. The parent market covers a variety of product categories, including heavy-duty trucks, heavy earthmoving equipment, compact earthmoving equipment, road construction, and compaction equipment, crushing and screening equipment, concrete equipment, civil engineering equipment, lifting equipment, and other related equipment.
Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download the Sample Report
The market is segmented by class type (class III, class V, class I, class II, and class IV), type (electric and internal combustion engine), and geography (APAC, Europe, North America, Middle East and Africa, and South America).
Segmentation by class type (class III, class V, class I, class II, and class IV)
- Class III: Electric hand rider trucks and pallet jacks are included in the class III division of the global forklift trucks market. These forklift trucks raise the material merely a few inches off the ground and are used for the rapid unloading of tractors and trailers. In addition, they have a load capacity of roughly 5 tonnes. Class III forklift trucks are ideal for short distances and small warehouses and can be powered by lithium-ion batteries or fuel cell motors. They are a suitable solution for small-scale construction applications due to their compatibility with other heavy material handling equipment such as hoists and cranes. As class III forklift trucks do not use nonrenewable fuels, their usage is predicted to increase during the forecast period.
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Technavio has extensively analyzed 15 major vendors, including Anhui Heli Co. Ltd., BYD Electronic Co. Ltd., Cargotec Corp., Caterpillar Inc., CLARK Material Handling Co., Crown Equipment Corp., CVS FERRARI Spa, Dana Inc., EP Equipment Co. Ltd., Hoist Material Handling Inc., Hyster Yale Materials Handling Inc., Jungheinrich AG, KION GROUP AG, Komatsu Mining Corp., Konecranes, Manitou BF SA, Mitsubishi Heavy Industries Ltd., Royal Terberg Group BV, Toyota Industries Corp., and SANY Group
Key benefits for industry players & stakeholders –
- The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
- It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
- The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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Customer landscape - Analysis of price sensitivity, adoption lifecycle, customer purchase basket, adoption rates, and purchase criteria by Technavio
- One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
- Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
- Furthermore, market adoption rates for all regions have been covered.
Get a holistic overview of the forklift trucks market by industry experts to evaluate and develop growth strategies. Download the Sample
Motor Graders Market by Product, End-user and Geography - Forecast and Analysis 2023-2027: The motor graders market is estimated to grow at a CAGR of 3.57% between 2022 and 2027. The size of the market is forecast to increase by USD 935.53 million. This report extensively covers market segmentation by product (MS motor graders, IS motor graders, and SS motor graders), end-user (construction, mining, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
Construction Machinery Market by Application, Product and Geography - Forecast and Analysis 2023-2027: The construction machinery market is estimated to grow at a CAGR of 4.3% between 2022 and 2027. The size of the market is forecast to increase by USD 41.41 billion. This report extensively covers market segmentation by application (commercial, residential, and infrastructure), product (earthmoving machinery, material handling machinery, concrete and road construction machinery, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
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What are the key data covered in this forklift trucks market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the forklift trucks market between 2023 and 2027
- Precise estimation of the size of the forklift trucks market and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the forklift trucks market across APAC, Europe, North America, Middle East and Africa, and South America
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of forklift trucks market vendors
Forklift Trucks Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.32% |
Market growth 2023-2027 |
357 th units |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
3.5 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 52% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Anhui Heli Co. Ltd., BYD Electronic Co. Ltd., Cargotec Corp., Caterpillar Inc., CLARK Material Handling Co., Crown Equipment Corp., CVS FERRARI Spa, Dana Inc., EP Equipment Co. Ltd., Hoist Material Handling Inc., Hyster Yale Materials Handling Inc., Jungheinrich AG, KION GROUP AG, Komatsu Mining Corp., Konecranes, Manitou BF SA, Mitsubishi Heavy Industries Ltd., Royal Terberg Group BV, Toyota Industries Corp., and SANY Group |
Market dynamics |
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Class Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (thousand units)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (thousand units)
- Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global forklift trucks market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global forklift trucks market 2017 - 2021 (thousand units)
- 4.2 Class Type Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Class Type Segment 2017 - 2021 (thousand units)
- 4.3 Type Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 (thousand units)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (thousand units)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (thousand units)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Class Type
- 6.1 Market segments
- Exhibit 30: Chart on Class Type - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Class Type - Market share 2022-2027 (%)
- 6.2 Comparison by Class Type
- Exhibit 32: Chart on Comparison by Class Type
- Exhibit 33: Data Table on Comparison by Class Type
- 6.3 Class III - Market size and forecast 2022-2027
- Exhibit 34: Chart on Class III - Market size and forecast 2022-2027 (thousand units)
- Exhibit 35: Data Table on Class III - Market size and forecast 2022-2027 (thousand units)
- Exhibit 36: Chart on Class III - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Class III - Year-over-year growth 2022-2027 (%)
- 6.4 Class V - Market size and forecast 2022-2027
- Exhibit 38: Chart on Class V - Market size and forecast 2022-2027 (thousand units)
- Exhibit 39: Data Table on Class V - Market size and forecast 2022-2027 (thousand units)
- Exhibit 40: Chart on Class V - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Class V - Year-over-year growth 2022-2027 (%)
- 6.5 Class I - Market size and forecast 2022-2027
- Exhibit 42: Chart on Class I - Market size and forecast 2022-2027 (thousand units)
- Exhibit 43: Data Table on Class I - Market size and forecast 2022-2027 (thousand units)
- Exhibit 44: Chart on Class I - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Class I - Year-over-year growth 2022-2027 (%)
- 6.6 Class II - Market size and forecast 2022-2027
- Exhibit 46: Chart on Class II - Market size and forecast 2022-2027 (thousand units)
- Exhibit 47: Data Table on Class II - Market size and forecast 2022-2027 (thousand units)
- Exhibit 48: Chart on Class II - Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Class II - Year-over-year growth 2022-2027 (%)
- 6.7 Class IV - Market size and forecast 2022-2027
- Exhibit 50: Chart on Class IV - Market size and forecast 2022-2027 (thousand units)
- Exhibit 51: Data Table on Class IV - Market size and forecast 2022-2027 (thousand units)
- Exhibit 52: Chart on Class IV - Year-over-year growth 2022-2027 (%)
- Exhibit 53: Data Table on Class IV - Year-over-year growth 2022-2027 (%)
- 6.8 Market opportunity by Class Type
- Exhibit 54: Market opportunity by Class Type (thousand units)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 55: Chart on Type - Market share 2022-2027 (%)
- Exhibit 56: Data Table on Type - Market share 2022-2027 (%)
- 7.2 Comparison by Type
- Exhibit 57: Chart on Comparison by Type
- Exhibit 58: Data Table on Comparison by Type
- 7.3 Electric - Market size and forecast 2022-2027
- Exhibit 59: Chart on Electric - Market size and forecast 2022-2027 (thousand units)
- Exhibit 60: Data Table on Electric - Market size and forecast 2022-2027 (thousand units)
- Exhibit 61: Chart on Electric - Year-over-year growth 2022-2027 (%)
- Exhibit 62: Data Table on Electric - Year-over-year growth 2022-2027 (%)
- 7.4 Internal combustion engine - Market size and forecast 2022-2027
- Exhibit 63: Chart on Internal combustion engine - Market size and forecast 2022-2027 (thousand units)
- Exhibit 64: Data Table on Internal combustion engine - Market size and forecast 2022-2027 (thousand units)
- Exhibit 65: Chart on Internal combustion engine - Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on Internal combustion engine - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Type
- Exhibit 67: Market opportunity by Type (thousand units)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 69: Chart on Market share by geography 2022-2027 (%)
- Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 71: Chart on Geographic comparison
- Exhibit 72: Data Table on Geographic comparison
- 9.3 APAC - Market size and forecast 2022-2027
- Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 (thousand units)
- Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 (thousand units)
- Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 (thousand units)
- Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 (thousand units)
- Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 North America - Market size and forecast 2022-2027
- Exhibit 81: Chart on North America - Market size and forecast 2022-2027 (thousand units)
- Exhibit 82: Data Table on North America - Market size and forecast 2022-2027 (thousand units)
- Exhibit 83: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.6 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 (thousand units)
- Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (thousand units)
- Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.7 South America - Market size and forecast 2022-2027
- Exhibit 89: Chart on South America - Market size and forecast 2022-2027 (thousand units)
- Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 (thousand units)
- Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.8 China - Market size and forecast 2022-2027
- Exhibit 93: Chart on China - Market size and forecast 2022-2027 (thousand units)
- Exhibit 94: Data Table on China - Market size and forecast 2022-2027 (thousand units)
- Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.9 US - Market size and forecast 2022-2027
- Exhibit 97: Chart on US - Market size and forecast 2022-2027 (thousand units)
- Exhibit 98: Data Table on US - Market size and forecast 2022-2027 (thousand units)
- Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.10 Germany - Market size and forecast 2022-2027
- Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 (thousand units)
- Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 (thousand units)
- Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.11 Japan - Market size and forecast 2022-2027
- Exhibit 105: Chart on Japan - Market size and forecast 2022-2027 (thousand units)
- Exhibit 106: Data Table on Japan - Market size and forecast 2022-2027 (thousand units)
- Exhibit 107: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 108: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.12 UK - Market size and forecast 2022-2027
- Exhibit 109: Chart on UK - Market size and forecast 2022-2027 (thousand units)
- Exhibit 110: Data Table on UK - Market size and forecast 2022-2027 (thousand units)
- Exhibit 111: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 112: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 113: Market opportunity by geography (thousand units)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 114: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 116: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 117: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 118: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 119: Matrix on vendor position and classification
- 12.3 Anhui Heli Co. Ltd.
- Exhibit 120: Anhui Heli Co. Ltd. - Overview
- Exhibit 121: Anhui Heli Co. Ltd. - Key offerings
- 12.4 BYD Electronic Co. Ltd.
- Exhibit 122: BYD Electronic Co. Ltd. - Overview
- Exhibit 123: BYD Electronic Co. Ltd. - Business segments
- Exhibit 124: BYD Electronic Co. Ltd. - Key news
- Exhibit 125: BYD Electronic Co. Ltd. - Key offerings
- Exhibit 126: BYD Electronic Co. Ltd. - Segment focus
- 12.5 Cargotec Corp.
- Exhibit 127: Cargotec Corp. - Overview
- Exhibit 128: Cargotec Corp. - Business segments
- Exhibit 129: Cargotec Corp. - Key news
- Exhibit 130: Cargotec Corp. - Key offerings
- Exhibit 131: Cargotec Corp. - Segment focus
- 12.6 Caterpillar Inc.
- Exhibit 132: Caterpillar Inc. - Overview
- Exhibit 133: Caterpillar Inc. - Business segments
- Exhibit 134: Caterpillar Inc. - Key offerings
- Exhibit 135: Caterpillar Inc. - Segment focus
- 12.7 Crown Equipment Corp.
- Exhibit 136: Crown Equipment Corp. - Overview
- Exhibit 137: Crown Equipment Corp. - Product / Service
- Exhibit 138: Crown Equipment Corp. - Key offerings
- 12.8 CVS FERRARI Spa
- Exhibit 139: CVS FERRARI Spa - Overview
- Exhibit 140: CVS FERRARI Spa - Product / Service
- Exhibit 141: CVS FERRARI Spa - Key offerings
- 12.9 Hyster Yale Materials Handling Inc.
- Exhibit 142: Hyster Yale Materials Handling Inc. - Overview
- Exhibit 143: Hyster Yale Materials Handling Inc. - Business segments
- Exhibit 144: Hyster Yale Materials Handling Inc. - Key offerings
- Exhibit 145: Hyster Yale Materials Handling Inc. - Segment focus
- 12.10 Jungheinrich AG
- Exhibit 146: Jungheinrich AG - Overview
- Exhibit 147: Jungheinrich AG - Business segments
- Exhibit 148: Jungheinrich AG - Key offerings
- Exhibit 149: Jungheinrich AG - Segment focus
- 12.11 KION GROUP AG
- Exhibit 150: KION GROUP AG - Overview
- Exhibit 151: KION GROUP AG - Business segments
- Exhibit 152: KION GROUP AG - Key news
- Exhibit 153: KION GROUP AG - Key offerings
- Exhibit 154: KION GROUP AG - Segment focus
- 12.12 Komatsu Mining Corp.
- Exhibit 155: Komatsu Mining Corp. - Overview
- Exhibit 156: Komatsu Mining Corp. - Business segments
- Exhibit 157: Komatsu Mining Corp. - Key offerings
- Exhibit 158: Komatsu Mining Corp. - Segment focus
- 12.13 Konecranes
- Exhibit 159: Konecranes - Overview
- Exhibit 160: Konecranes - Business segments
- Exhibit 161: Konecranes - Key offerings
- Exhibit 162: Konecranes - Segment focus
- 12.14 Mitsubishi Heavy Industries Ltd.
- Exhibit 163: Mitsubishi Heavy Industries Ltd. - Overview
- Exhibit 164: Mitsubishi Heavy Industries Ltd. - Business segments
- Exhibit 165: Mitsubishi Heavy Industries Ltd. - Key news
- Exhibit 166: Mitsubishi Heavy Industries Ltd. - Key offerings
- Exhibit 167: Mitsubishi Heavy Industries Ltd. - Segment focus
- 12.15 Royal Terberg Group BV
- Exhibit 168: Royal Terberg Group BV - Overview
- Exhibit 169: Royal Terberg Group BV - Product / Service
- Exhibit 170: Royal Terberg Group BV - Key offerings
- 12.16 SANY Group
- Exhibit 171: SANY Group - Overview
- Exhibit 172: SANY Group - Product / Service
- Exhibit 173: SANY Group - Key offerings
- 12.17 Toyota Industries Corp.
- Exhibit 174: Toyota Industries Corp. - Overview
- Exhibit 175: Toyota Industries Corp. - Business segments
- Exhibit 176: Toyota Industries Corp. - Key news
- Exhibit 177: Toyota Industries Corp. - Key offerings
- Exhibit 178: Toyota Industries Corp. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 179: Inclusions checklist
- Exhibit 180: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 181: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 182: Research methodology
- Exhibit 183: Validation techniques employed for market sizing
- Exhibit 184: Information sources
- 13.5 List of abbreviations
- Exhibit 185: List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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