Change Language

Select Language

COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.

Forklift Trucks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview 2021-2026:

The global forklift trucks market reached a value of US$ 54.7 Billion in 2020. Looking forward, the market is expected to reach a value of US$ 72.9 Billion by 2026, growing at a CAGR of 4.51% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

A forklift truck is an industrial machine that consists of two horizontal prongs for loading, unloading and transporting goods and materials over short distances. It is usually operated by a trained machinist and is either powered by electric batteries or combustion engines. Forklift trucks consist of various components, such as truck frame, counterweight, forklift, carriage and hydraulic cylinders that aid in performing multiple industrial tasks efficiently. Owing to these benefits, they find extensive applications in warehouses, factories and dockyards across various industries, including automotive, aerospace, transportation, retail, manufacturing and construction.

Forklift Trucks Market Report

Global Forklift Trucks Market Trends and Drivers:

The growing construction industry, along with rapid industrialization, is one of the key factors driving the growth of the market. Forklift trucks are highly economical, user-friendly, powerful and easy to maintain. As a result, they are widely used for performing various industrial tasks and handling heavy construction materials, such as wood, steel and mortar. Furthermore, an increasing number of warehouse establishments across the emerging economies is also providing a boost to the forklift trucks market growth. These trucks are utilized in the distribution centers and warehouses for laying and retrieving loads from storage racks, delivering components to assembly lines and positioning materials for further effective handling. Various product innovations, including the development of fuel cell-powered forklift trucks that can operate on hydrogen, are also creating a positive outlook for the market growth. These variants aid in reducing the carbon footprint significantly and enhancing the overall operational efficiency. Other factors, including technological advancements aimed at improving productivity and extensive research and development (R&D) activities, are projected to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global forklift trucks market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on product type, technology, class and application.

Breakup by Product Type:

  • Counterbalanced Forklift Trucks
  • Warehouse Forklift Trucks


Breakup by Technology:

  • Electricity Powered
  • Internal Combustion Engine Powered


Breakup by Class:

  • Class I
  • Class II
  • Class III
  • Class IV
  • Class V


Breakup by Application:

  • Non-Industrial
    • Warehouses and Distribution Centers
    • Construction Sites
    • Dockyards
    • Snow Plows
  • Industrial
    • Manufacturing
    • Recycling Operations


Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa


Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Clark Material Handling Company, Crown Equipment Corporation, Godrej & Boyce, Hyster-Yale Materials Handling Inc., Hyundai Heavy Industries Co. Ltd, Jungheinrich, KION Group, Mitsubishi Forklift Trucks, Toyota Industries Corporation, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2020
Historical Period 2015-2020
Forecast Period 2021-2026
Units US$ Billion
Segment Coverage Product Type, Technology, Class, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Clark Material Handling Company, Crown Equipment Corporation, Godrej & Boyce, Hyster-Yale Materials Handling Inc., Hyundai Heavy Industries Co. Ltd, Jungheinrich, KION Group, Mitsubishi Forklift Trucks and Toyota Industries Corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Forklift Trucks Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Product Type
    6.1    Counterbalanced Forklift Trucks
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Warehouse Forklift Trucks
        6.2.1 Market Trends
        6.2.2 Market Forecast
7   Market Breakup by Technology
    7.1    Electricity Powered
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Internal Combustion Engine Powered
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Class
    8.1    Class I
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Class II
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Class III
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Class IV
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Class V
        8.5.1 Market Trends
        8.5.2 Market Forecast
9   Market Breakup by Application
    9.1    Non-Industrial
        9.1.1 Market Trends
        9.1.2 Major Types
           9.1.2.1 Warehouses and Distribution Centers
           9.1.2.2 Construction Sites
           9.1.2.3 Dockyards
           9.1.2.4 Snow Plows
        9.1.3 Market Forecast
    9.2    Industrial
        9.2.1 Market Trends
        9.2.2 Major Types
           9.2.2.1 Manufacturing
           9.2.2.2 Recycling Operations
        9.2.3 Market Forecast
10   Market Breakup by Region
     10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
     10.2    Asia Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.1.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast 
11  SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12  Value Chain Analysis
13  Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14  Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Clark Material Handling Company
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio 
        14.3.2    Crown Equipment Corporation
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio 
        14.3.3    Godrej & Boyce
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
        14.3.4    Hyster-Yale Materials Handling Inc.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio 
           14.3.4.3 Financials
        14.3.5    Hyundai Heavy Industries Co. Ltd.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
        14.3.6    Jungheinrich
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio 
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    KION Group
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio 
           14.3.7.3 Financials
        14.3.8    Mitsubishi Forklift Trucks
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio 
           14.3.8.3 Financials
        14.3.9    Toyota Industries Corporation
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio 
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis

List of Figures

Figure 1: Global: Forklift Trucks Market: Major Drivers and Challenges
Figure 2: Global: Forklift Trucks Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Forklift Trucks Market: Breakup by Product Type (in %), 2020
Figure 4: Global: Forklift Trucks Market: Breakup by Technology (in %), 2020
Figure 5: Global: Forklift Trucks Market: Breakup by Class (in %), 2020
Figure 6: Global: Forklift Trucks Market: Breakup by Application (in %), 2020
Figure 7: Global: Forklift Trucks Market: Breakup by Region (in %), 2020
Figure 8: Global: Forklift Trucks Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 9: Global: Forklift Trucks (Counterbalanced) Market: Sales Value (in Million US$), 2015 & 2020
Figure 10: Global: Forklift Trucks (Counterbalanced) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 11: Global: Forklift Trucks (Warehouse) Market: Sales Value (in Million US$), 2015 & 2020
Figure 12: Global: Forklift Trucks (Warehouse) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 13: Global: Forklift Trucks (Electricity Powered) Market: Sales Value (in Million US$), 2015 & 2020
Figure 14: Global: Forklift Trucks (Electricity Powered) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 15: Global: Forklift Trucks (Internal Combustion Engine Powered) Market: Sales Value (in Million US$), 2015 & 2020
Figure 16: Global: Forklift Trucks (Internal Combustion Engine Powered) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 17: Global: Forklift Trucks (Class I) Market: Sales Value (in Million US$), 2015 & 2020
Figure 18: Global: Forklift Trucks (Class I) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 19: Global: Forklift Trucks (Class II) Market: Sales Value (in Million US$), 2015 & 2020
Figure 20: Global: Forklift Trucks (Class II) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 21: Global: Forklift Trucks (Class III) Market: Sales Value (in Million US$), 2015 & 2020
Figure 22: Global: Forklift Trucks (Class III) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 23: Global: Forklift Trucks (Class IV) Market: Sales Value (in Million US$), 2015 & 2020
Figure 24: Global: Forklift Trucks (Class IV) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 25: Global: Forklift Trucks (Class V) Market: Sales Value (in Million US$), 2015 & 2020
Figure 26: Global: Forklift Trucks (Class V) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 27: Global: Forklift Trucks (Non-Industrial) Market: Sales Value (in Million US$), 2015 & 2020
Figure 28: Global: Forklift Trucks (Non-Industrial) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 29: Global: Forklift Trucks (Industrial) Market: Sales Value (in Million US$), 2015 & 2020
Figure 30: Global: Forklift Trucks (Industrial) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 31: North America: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 32: North America: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 33: United States: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 34: United States: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026`
Figure 35: Canada: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 36: Canada: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 37: Asia Pacific: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 38: Asia Pacific: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 39: China: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 40: China: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 41: Japan: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 42: Japan: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 43: India: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 44: India: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 45: South Korea: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 46: South Korea: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 47: Australia: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 48: Australia: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 49: Indonesia: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 50: Indonesia: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 51: Others: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 52: Others: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 53: Europe: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 54: Europe: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 55: Germany: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 56: Germany: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 57: France: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 58: France: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 59: United Kingdom: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 60: United Kingdom: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 61: Italy: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 62: Italy: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 63: Spain: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 64: Spain: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 65: Russia: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 66: Russia: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 67: Others: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 68: Others: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 69: Latin America: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 70: Latin America: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 71: Brazil: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 72: Brazil: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 73: Mexico: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 74: Mexico: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 75: Others: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 76: Others: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 77: Middle East and Africa: Forklift Trucks Market: Sales Value (in Million US$), 2015 & 2020
Figure 78: Middle East and Africa: Forklift Trucks Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 79: Global: Forklift Trucks Industry: SWOT Analysis
Figure 80: Global: Forklift Trucks Industry: Value Chain Analysis
Figure 81: Global: Forklift Trucks Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Forklift Trucks Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Forklift Trucks Market Forecast: Breakup by Product Type (in Million US$), 2021-2026
Table 3: Global: Forklift Trucks Market Forecast: Breakup by Technology (in Million US$), 2021-2026
Table 4: Global: Forklift Trucks Market Forecast: Breakup by Class (in Million US$), 2021-2026
Table 5: Global: Forklift Trucks Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 6: Global: Forklift Trucks Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 7: Global: Forklift Trucks Market: Competitive Structure
Table 8: Global: Forklift Trucks Market: Key Players

Note: We value your privacy and will never rent or sell your email address. Privacy policy

Key Question Answered in this Report

The global forklift trucks market size was valued at US$ 54.7 Billion in 2020.

According to the estimates by IMARC Group, the global forklift trucks market is expected to witness a CAGR of 4.51% during 2021 to 2026.

The expanding construction industry, along with the increasing number of warehouse establishments, represent some of the key drivers for the global forklift trucks market.

Various product innovations, including the development of fuel cell-powered forklift trucks that can operate on hydrogen, represent one of the key trends in the global forklift trucks market.

Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting temporary halt of numerous construction activities, thereby limiting the demand for forklift trucks.

On the basis of the product type, the market has been bifurcated into counterbalanced forklift trucks and warehouse forklift trucks. Currently, counterbalanced forklift trucks hold the majority of the total market share.

On the basis of the technology, the market has been segregated into electricity-powered and internal combustion engine-powered. At present, internal combustion engine-powered technology exhibits a clear dominance in the global market.

On the basis of the class, the market has been segmented into class I, class II, class III, class IV and class V. Among these, class V accounts for the majority of the market share.

On the basis of the application, the market has been divided into non-industrial and industrial. At present, non-industrial represents the largest segment.

Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.

The key companies in the global forklift trucks market are Clark Material Handling Company, Crown Equipment Corporation, Godrej & Boyce, Hyster-Yale Materials Handling Inc., Hyundai Heavy Industries Co. Ltd, Jungheinrich, KION Group, Mitsubishi Forklift Trucks, Toyota Industries Corporation, etc.

Need more help?

  •   Speak to our experienced analysts for insights on the current market scenarios.
  •   Include additional segments and countries to customize the report as per your requirement.
  •   Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  •   For further assistance, please connect with our analysts.

Purchase Options




$ 2299

REACH OUT TO US

Call us on

( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91 120 433 0800 )


Drop us an email at

sales@imarcgroup.com

Social Links