Global Forklift Trucks Market Growth 2025-2031

Global Forklift Trucks Market Growth 2025-2031

The global Forklift Trucks market size is predicted to grow from US$ 31280 million in 2025 to US$ 40330 million in 2031; it is expected to grow at a CAGR of 4.3% from 2025 to 2031.

Forklift truck, also known as fork truck, lift truck, or forklift, are motorized vehicles primarily used for independent lifting, movement, and placement of discrete loads throughout a facility. They form an essential part of the supply chain market. These mobile loading trucks can be outfitted with forks for pallet-based unit load picking and for loads that are not palletized. These vehicles can be used with a variety of attachments such as platforms, grippers, or clamps. The growth of customer segments and rising demand for fuel-efficient vehicles is bringing a radical change to the forklift truck market.

This report mainly focuses on the new forklift trucks equipment, instead of service, rental, etc.

The Forklift Trucks industry can be broken down into several segments, Class 1, Class 2, Class 3 and Class 4/5.

Across the world, the major players cover Toyota, Kion, Jungheinrich, Mitsubishi Logisnext, Crown Equipment, Hyster-Yale, Anhui Heli, Hangcha, Clark Material Handling, Doosan Corporation Industrial Vehicle, etc.

Global key manufacturers of forklift trucks include Toyota, Kion, Jungheinrich, Mitsubishi Logisnext, etc., which are mainly located in North America, Europe, China, Japan, Korea, India, South America, etc. The top two producers have a total market share of 29%, with the largest producer being Toyota, accounting for 17%. At the consumption level, Asia Pacific has the largest sales market with a 50% share. In terms of product categories, class 4 and 5 have the largest market share with 36%, followed by class 3. In terms of applications, warehouses is the number one application with a 38% market share.

LP Information, Inc. (LPI) ' newest research report, the “Forklift Trucks Industry Forecast” looks at past sales and reviews total world Forklift Trucks sales in 2024, providing a comprehensive analysis by region and market sector of projected Forklift Trucks sales for 2025 through 2031. With Forklift Trucks sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Forklift Trucks industry.

This Insight Report provides a comprehensive analysis of the global Forklift Trucks landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Forklift Trucks portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Forklift Trucks market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Forklift Trucks and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Forklift Trucks.

This report presents a comprehensive overview, market shares, and growth opportunities of Forklift Trucks market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Class 1
Class 2
Class 3
Class 4 and 5

Segmentation by Application:
Warehouses
Factories
Distribution Centers
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Toyota
Kion
Jungheinrich
Mitsubishi Logisnext
Crown Equipment
Hyster-Yale
Anhui Heli
Hangcha
Clark Material Handling
Doosan Corporation Industrial Vehicle
Komatsu
Lonking
Hyundai Heavy Industries
EP Equipment
Manitou
Paletrans Equipment
Combilift
Hubtex Maschinenbau
Godrej & Boyce

Key Questions Addressed in this Report

What is the 10-year outlook for the global Forklift Trucks market?

What factors are driving Forklift Trucks market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Forklift Trucks market opportunities vary by end market size?

How does Forklift Trucks break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.