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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- In July 2021, KION Group AG constructed a new industrial plant for the truck in the Polish town of Ko?baskowo, near Szczecin. The site is to manufacture counterbalance forklift trucks for all brand corporations within the KION Industrial Trucks & Services segment. Moreover, in May 2021, Jungheinrich revealed its new ERD 220i, an electric pallet truck. The new ERD 220i had an L2 dimension of just 1,065 mm and is considered the most compact truck in its class as compared to its predecessor, the ERD 220i is more than 300mm shorter which was caused due by its new lithium-ion battery concept, which resulted in a reduction of space approximately 25%.
- In April 2021, Godrej Material Handing launched its new Uno Electrically-powered Forklift truck. It offers advanced ergonomics, improved visibility, augmented safety, and a longer runtime on every charge, this new Uno Electric Forklift truck is a workhorse in the 1.5-3 tonne forklift category.
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Market Coverage
- Segment Covered-
o By Power-Train Type
o By Class
o By End-User Vertical
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- including Godrej & Boyce Manufacturing Co. Ltd., Hyster-Yale Materials Handling Inc., Hyundai Heavy Industries Co., Ltd., KION GROUP AG, Toyota Industries Corp., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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
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