Global Forklift Market Research and Forecast, 2018-2023

Global forklift market, size, share, market intelligence, company profiles, market trends, growth, insider, strategy, research and analysis report, forecast 2018-2023

Forklift is an industrial vehicle which has a forked platform attached at the front side of the vehicle. The forked platform is used to move cargo or any material up and down and to transport it for a short distance. Forklifts have a number of applications in various industries such as automotive, building & construction, steel, and also in warehouses and other large storage facilities. A forklift can be electric, petrol, LPG or diesel powered. Generally, an electric forklift is used for indoor activity due to no emission whereas diesel is used a forklift for used for the outdoor and all-terrain activity.

Global forklift market is expected to witness a significant growth during the forecast period. Factors which are augmenting the market include rising applications of a forklift in manufacturing and warehouse facilities coupled with significant growth in automotive and steel industries across the globe. For instance, on the basis of unit sales, the automotive industry is showing a growth of 4-5% annually around the globe. Due to this, manufacturing and assembly unit of vehicles along with their parts is increasing and so may the use of forklifts. The forklift can perform some additional function along with lifting and transporting cargo such as removing snow, lifting individuals and so forth which further support its adoption in snowy countries. Increasing adoption of electric forklifts is also one of the major factors for augmenting the market growth in future. Moreover, multi-functionality of the forklifts can be another factor that may spur its usage in various verticals. However, there are some factors such as the high cost of battery operated and fuel cell forklifts, and availability of forklift alternatives may hamper the market growth in the forecast period. Besides these, rapidly emerging e-commerce sector across the globe can provide a lucrative opportunity to the global forklift market.

Browse full report at Global Forklift Market 

Additionally, the global forklift market is segmented on the basis of type and applications. On the basis of types, the market is segmented into an electric forklift, internal combustion forklift, and automated guided forklift. Electric forklift market is expected to contribute significant market share owing to their lower maintenance cost and on-road price as compared to IC forklifts. By application industry, the market is segmented into the manufacturing industry, construction, freight & logistics and other applications such as wood industry, warehousing, and commercial stores. The manufacturing industry is expected to have a major market share due to the high application of forklift across the globe. Commercial stores will observe a significant growth rate due to the rising number of store chain such as Walmart, target among others in emerging economies across the globe.

On the basis of geography, the global forklift market is divided into North America, Europe, Asia-Pacific and Rest of the World. It is expected that the Asia-Pacific region will hold a significant market during the forecast period. Major contributing regions in the Asia-Pacific forklift market include China, India, Japan, Indonesia, and South Korea. It is expected that the Asia-Pacific market will also show the highest growth rate during the forecast period owing to significant growth in the construction, automotive, steel and other manufacturing industry in the region. North America and Europe are also expected to have a significant market due to well-developed industries along with higher adoption of forklifts in these regions.

The report covers 

Comprehensive research methodology of global forklift market. 

This report also includes a detailed and extensive market overview with key analyst insights. 

An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations. 

Analysis of regional regulations and other government policies impacting the global forklift market. 

Insights about market determinants which are stimulating the global forklift market. 

Detailed and extensive market segments with regional distribution of forecasted revenues. 

Extensive profiles and recent developments of market players. 

For related reports please visit Transportation and Logistics