Forklifts Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Forklifts Market covers analysis by Type (Warehouse Type and Counterbalance Type); Class (Class I, Class II, Class III, Class IV, Class V and Class VI); Engine Power (IC Engine Power and Electric Engine Power); Tonnage (Less than 5 ton, 5-10 ton, 11-36 ton and Above 36 ton); and Application (Warehouse, Logistics, Automotive, Manufacturing and Food Industry), and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPTE100000630
  • Category : Manufacturing and Construction
  • Status : Upcoming
  • No. of Pages : 150
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Forklifts is a powered truck which is used to lift and move material and it can also be used for manufacturing industries and warehouse operations. Forklift vehicle can be used for independent lifting, placement of discrete loads and other applications.

Rapid urbanization in developing countries, leading to the growth in the construction sector, is one of the major driver for the growth of the forklifts market, however limited number of suppliers for particular components can be a restraining factor in the market. One of the key trends gaining traction in the market is intelligent forklifts which are integrated with sensors for intimation of maintenance, collision detection, and improving fork speed optimization for the safety of forklifts

The "Global Forklifts Market Analysis to 2028" is a specialized and in-depth study of the forklifts industry with a focus on the global market trend. The report aims to provide an overview of global forklifts market with detailed market segmentation by type, class, engine power, application and geography. The global forklifts market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the forklifts players and offers key trends and opportunities in the market.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global forklifts market based on type, class, engine power and application. It also provides market size and forecast till 2028 for overall forklifts market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 15 counties globally along with current trend and opportunities prevailing in the region.

Besides this, the report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the market in these regions.

Also, key forklifts market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years. Some of the key players influencing the market are TOYOTA INDUSTRIES CORPORATION, Kion Group AG, Hyster-Yale Materials Handling, Inc., Jungheinrich AG, Mitsubishi Nichiyu Forklift Co., Ltd., Crown Equipment Corporation, Clark Material Handling Company, Anhui Heli Co., Ltd., Komatsu Ltd. and Hangcha Group Co. Ltd. REGIONAL FRAMEWORK

Forklifts Market Report Analysis

Forklifts Market

  • CAGR (2023 - 2031)
    XX%
  • Market Size 2023
    US$ XX Million
  • Market Size 2031
    US$ XX Million

Report Coverage

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Industry landscape and competition analysis & recent developments
  • Detailed company profiles
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

  • TOYOTA INDUSTRIES CORPORATION
  • KION GROUP AG
  • Hyster-Yale Materials Handling, Inc.
  • Jungheinrich AG
  • Mitsubishi Nichiyu Forklift Co., Ltd.
  • Crown Equipment Corporation
  • Clark Material Handling Company
  • Anhui Heli Co., Ltd.
  • Komatsu Ltd.

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

By Type
  • Warehouse Type and Counterbalance Type
By Class
  • Class I
  • Class II
  • Class III
  • Class IV
  • Class V and Class VI
By Engine Power
  • IC Engine Power and Electric Engine Power
By Tonnage
  • Less than 5 ton
  • 5-10 ton
  • 11-36 ton and Above 36 ton
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
MARKET PLAYERS

Forklifts Market Report Scope

Report Attribute Details
Market size in 2023 US$ XX Million
Market Size by 2031 US$ XX Million
Global CAGR (2023 - 2031) XX%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Type
  • Warehouse Type and Counterbalance Type
By Class
  • Class I
  • Class II
  • Class III
  • Class IV
  • Class V and Class VI
By Engine Power
  • IC Engine Power and Electric Engine Power
By Tonnage
  • Less than 5 ton
  • 5-10 ton
  • 11-36 ton and Above 36 ton
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • TOYOTA INDUSTRIES CORPORATION
  • KION GROUP AG
  • Hyster-Yale Materials Handling, Inc.
  • Jungheinrich AG
  • Mitsubishi Nichiyu Forklift Co., Ltd.
  • Crown Equipment Corporation
  • Clark Material Handling Company
  • Anhui Heli Co., Ltd.
  • Komatsu Ltd.
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    This text is related
    to segments covered.

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    List of Companies

    1. TOYOTA INDUSTRIES CORPORATION
    2. KION GROUP AG
    3. Hyster-Yale Materials Handling, Inc.
    4. Jungheinrich AG
    5. Mitsubishi Nichiyu Forklift Co., Ltd.
    6. Crown Equipment Corporation
    7. Clark Material Handling Company
    8. Anhui Heli Co., Ltd.
    9. Komatsu Ltd.
    10. Hangcha Group Co. Ltd.

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

    Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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