Top 9 Forklift Truck Companies in the World

The global forklift trucks market size reached US$ 65.3 Billion in 2023. As per the analysis by IMARC Group, the leading companies in the forklift trucks market are introducing electric forklifts as a greener alternative to traditional gas-powered models. They are also focusing on reducing costs, minimizing maintenance, and increasing the efficiency of the forklifts. In addition, many companies are investing in automation and robotics technology to improve the safety of forklift operations. This includes developing autonomous forklifts that can navigate and operate without human input. They are also incorporating advanced features, such as collision avoidance systems and advanced monitoring and alert systems. Leading market players are also offering customizable forklifts with specialized attachments and lifting capacities to meet the specific needs of their customers. They are consequently integrating advanced technologies, such as artificial intelligence (AI), machine learning (ML), augmented reality (AR), virtual reality (VR), biometrics, cloud computing, and big data, to support businesses in complying with rules in a more efficient and cost-effective manner. Looking forward, the market to reach US$ 96.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.3% during 2024-2032.

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List of Top Companies Operating in the Forklift Trucks Industry Worldwide:

The global forklift trucks market has several major players, including CLARK Material Handling Company, Crown Gabelstapler GmbH & Co. KG., Godrej & Boyce Manufacturing Company Limited, Hyster-Yale Materials Handling, Inc., HD Hyundai Heavy Industries, Jungheinrich AG, KION GROUP AG, Mitsubishi Forklift Trucks, and Toyota Industries Corporation. More information about these companies has been provided below.

1. CLARK Material Handling Company

CLARK Material Handling Company is a manufacturer of forklift trucks and other materials handling equipment. It offers a wide range of products, including electric and internal combustion forklifts, reach trucks, order pickers, narrow aisle, pallet jacks, and pallet stackers. It also offers fully automatic chargers that are digital and offer high frequencies. Its products are utilized in a variety of industries, including manufacturing, warehousing, and logistics. At present, it is focusing on building durable and reliable equipment.

2. Crown Gabelstapler GmbH & Co. KG

Crown Gabelstapler GmbH & Co. KG is a leading manufacturer of material handling equipment, including forklifts, pallet jacks, and other warehouse vehicles. The company is known for its innovative designs and commitment to customer service and it focuses on research and development (R&D) to improve productivity, efficiency, and safety in materials handling operations. Its product line includes small, maneuverable pallet jacks, heavy-duty and high-lifting forklifts capable of handling large loads. It also offers rental warehouse vehicles, such as order pickers, turret trucks, and reach trucks.

3. Godrej & Boyce Manufacturing Company Limited

Godrej & Boyce Manufacturing Company Limited is a leading Indian conglomerate that operates in consumer goods, furniture, industrial engineering, and security solutions. The company also manufactures forklifts that are known for their durability, performance, and low maintenance costs. Presently it holds a strong presence in the Indian market, and its material-handling products are used in a variety of industries, including manufacturing, logistics, and warehousing. Moreover, it is well known for its consumer appliances, such as refrigerators, washing machines, and air conditioners, as well as its furniture, which includes office furniture, home furniture, and mattresses.

4. Hyster-Yale Materials Handling, Inc.

Hyster-Yale Materials Handling, Inc. is a leading full-line lift truck manufacturer that offers a broad array of solutions to meet the specific materials handling needs of customers. It serves the material handling industry with 19 manufacturing operations in 12 countries. It operates in three separate segments, including lift trucks, attachments, and fuel cells. It also designs, engineers, manufactures, sells, and services a comprehensive line of lift trucks and aftermarket parts. Presently, the development centers for company lift trucks are located in the U.S., China, Italy, the Netherlands, the United Kingdom, India, the Philippines, and Japan.

5. HD Hyundai Heavy Industries

Hyundai Heavy Industries is one of the largest shipbuilders in the world, producing a wide range of vessels like oil tankers, container ships, and LNG carriers. It operates in more than 30 countries around the world and employs over 27,000 people. It also produces offshore platforms and equipment for the oil and gas industry, including drilling rigs, floating production storage and offloading vessels (FPSOs), and subsea equipment. Moreover, it produces a range of construction equipment, including excavators, wheel loaders, and forklifts.

6. Jungheinrich AG

Jungheinrich AG is a multinational company that specializes in the production and distribution of material handling equipment, warehouse technology, and intralogistics solutions. The product range of the company includes forklift trucks, stackers, order pickers, material handling equipment, and warehouse management systems and software solutions. Its products are employed in a variety of industries, including manufacturing, logistics, and retail, in more than 40 countries. At present, the company employs more than 18,000 people with the aim to reconcile economic, ecological, and social developments and place the needs of all stakeholders at the core of activities.

7. KION GROUP AG 

KION GROUP AG is a multinational company that specializes in the production and distribution of material handling equipment and logistics solutions under brands including Linde, STILL, Dematic, and Baoli. The product range of the company includes forklift trucks, warehouse equipment, and related services, such as fleet management and maintenance. The company operates globally in over 100 countries and employs more than 41,000 people worldwide. It installed a base of more than 1.7 million forklift trucks and warehouse equipment of various sizes and in numerous industries across six continents.

8. Mitsubishi Forklift Trucks

Mitsubishi Forklift Trucks is a leading provider of innovative logistics and materials handling solutions, operating in Africa, the Americas, Asia, Europe, the Middle East, and the Pacific. It aims to support and contribute to society through pioneering advances in hardware and software. It caters a wide range of forklift trucks, including electric, LPG, and diesel-powered models, with capacities ranging from 1 to 15 tons. It also delivers integrated solutions to meet industry needs on land, at sea, in the air and space.

9. Toyota Industries Corporation

Toyota Industries Corporation is a multinational company that produces a wide range of products, including material handling equipment, textile machinery, and automotive components. The material handling equipment division produces forklift trucks, warehouse equipment, and related services. The company is known for its Toyota brand of forklift trucks, which are widely used in the material handling industry. In addition, it provides automation solutions for material handling and intralogistics, including automated guided vehicles (AGVs) and robotic solutions.

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