Global Forklift Truck Market Forecast 2023-2032

Global Forklift Truck Market Forecast 2023-2032

KEY FINDINGS

The global forklift truck market is projected to grow with a CAGR of 6.60% in terms of revenue and 5.78% in terms of volume over the forecast period. The increasing applications of forklift trucks in manufacturing industries, the growing demand for high-performance technologies, and the growth potential of forklift trucks in emerging markets are among the key factors set to propel the market growth.

MARKET INSIGHTS

The growth of e-commerce can be attributed to factors such as higher disposable incomes, increased internet usage, and the convenience of online shopping. This surge in online retail has led to a significant increase in direct-to-customer shipments, a rise in internet purchases, and a shift towards excessive shipping and shopping habits. Consequently, the dynamics of warehouses have been transformed, as they now handle larger volumes of individual products instead of bulk shipments on pallets or in large cases.

In order to meet these demands, warehouses must optimize their processes for locating, selecting, and transporting items, necessitating efficient coordination between employees and forklifts. Furthermore, the expansion of e-commerce has resulted in a greater need for warehouses, placing additional strain on supply chain management. Therefore, the utilization of lift trucks in warehouses is vital for effectively managing the supply chain and enhancing operational efficiency.

REGIONAL INSIGHTS

The global forklift truck market growth assessment includes the study of North America, Europe, Asia-Pacific, and Rest of World. The Asia-Pacific is set to grow with the highest CAGR during the forecast period. The Asia-Pacific is home to countries like China, Japan, India, and others, which are actively involved in manufacturing and construction projects. These industries create a significant demand for forklift trucks to handle goods efficiently.

COMPETITIVE INSIGHTS

Given the presence of major manufacturers, the global forklift truck market is highly competitive. Some of the leading players operating in the market include Doosan Corporation, KION Group, Jungheinrich AG, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

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