Forklift Market Statistics 2019-2025: Forecasts By Class, Top Trends & End User
Europe forklift market share accounted for around 30% and is anticipated to witness significant growth opportunities over 2019 to 2025 owing to increase in demand for battery operated trucks and growth in warehousing segment.
Selbyville, United States – May 30, 2019 /MarketersMedia/ —
Europe held the largest forklift market share in wholesale & retail distribution segment owing to highest utilization of electric vehicles in the segment. North America is expected to witness stagnant growth over the coming few years owing to its steady economic recovery after recession. Lack of abundant workforce, emphasis on emission reduction are expected to present forklift market potential growth opportunities over the forecast timeframe.
Asia Pacific forklift market size dominated the accounting for over 40% of the industry share. China accounted for approximately 25% share in terms of volume, is anticipated to exhibit an exponential growth owing to factors such as presence of large number of production facilities, heavy logistics activities, economy growth and high adoption of technological advancements. This will lead to significant market growth of regional sector.
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Forklift Market size is anticipated to benefit from increasing manufacturing and e-commerce activities, and the need for warehousing operations in these facilities. Huge warehousing spaces have mandated machine utilization for transferring heavy goods to ensure efficient productivity and reduce mishandling. Increasing adoption of fast charging batteries in trucks to help end users overcome long distance barriers, reduce the downtime and improve productivity is estimated to fuel the overall market growth.
Based on end users, forklift market size is categorized into food, electrical, retail & wholesale, chemical, logistics and automotive. Wholesale & retail distribution segment is projected to witness high demands owing to increased transportation activities across different regions and surplus goods stocking generating the requirement for distributors to increasingly deploy forklifts. Battery operated trucks are highly used in retail segment due to its high efficiency.
The Forklift Market reports basic table of content consists of,
1. Methodology and Scope
2. Executive Summary
3. Forklift Industry Insights
3.1 Industry segmentation
3.2. Industry size, forecast and growth expectations, 2019 – 2025
3.3. Industry ecosystem analysis
3.4. Raw material insights
3.5. Technology insights
3.6. Regulatory framework
3.7. Industry dynamics
3.8. Key growth opportunities
3.9. Porter’s analysis
3.10. Company market share, 2018
3.11. PESTEL analysis
3.14. Regional price trends
4. Forklift Product Insights
5. Forklift Application Insights
6. Forklift Regional Insights
7. Competitor Profiles
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Based on class, the forklift market is segmented into class I, class II, class III, class IV and class V trucks. These include all types of electric motor rider, electric motor narrow aisle, electric motor hand truck, internal combustion engine (ICE), electric combustion engine tractors and rough terrain trucks. Class 3 type trucks are projected to witness highest CAGR over the forecast timeline owing to its major applications in warehouse & material handling departments and relatively higher efficiency than internal combustion forklifts. Largest share in terms of volume was held by trucks, with capacities less than 5 ton. These included Internal Combustion Engine(ICE) trucks and battery electric trucks, having the highest penetration in the market segment.
Reasons to Buy This Report:
1. Forklift Market size & share forecast by product & application 2019-2025
2. Growth drivers, pitfalls & industry challenges
3. Key market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
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Some forklift market players include KION Group AG, Toyota Industries Corporation, Jungheinrich group, Hyster-Yale Material handling Inc and Mitsubishi Nichiyu Forklift Corporation. Major manufactures are focusing on extending product portfolios, acquisitions, and collaborations to capitalize on the growing opportunities across multiple end user verticals. For instance, KION acquired handling automation division of Egemin Group. This division will help the company to offer enhanced services for automatic guided vehicles, automated warehouse systems and in-floor chain conveyors. Hyster- Yale acquired installation and distribution business of Speedshield Tech. Pvt Ltd in the U.S. This acquisition was to extend the company’s business activities outside Australia.
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