Global Hydrogen-powered Forklifts Market Growth 2025-2031

The global Hydrogen-powered Forklifts market size is predicted to grow from US$ 554 million in 2025 to US$ 873 million in 2031; it is expected to grow at a CAGR of 7.9% from 2025 to 2031.

A hydrogen-powered forklift is a type of forklift that uses a hydrogen fuel cell as its power source. The hydrogen fuel cell generates electrical energy through the chemical reaction between hydrogen and oxygen, which in turn drives the motor of the forklift. During this process, hydrogen undergoes an oxidation reaction at the anode, releasing electrons. These electrons travel through an external circuit to the cathode, where they react with oxygen in a reduction reaction to produce water. This type of forklift typically also comes equipped with a hydrogen storage system, a fuel cell stack, a motor, a controller, a battery management system, as well as working devices (such as forks) and counterweights. It combines the advantages of fuel cell technology, featuring zero or near-zero emissions, high energy conversion efficiency, and rapid hydrogen refueling.

United States market for Hydrogen-powered Forklifts is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

China market for Hydrogen-powered Forklifts is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

Europe market for Hydrogen-powered Forklifts is estimated to increase from US$ million in 2024 to US$ million by 2031, at a CAGR of % from 2025 through 2031.

Global key Hydrogen-powered Forklifts players cover Bobcat Company (Doosan), Crown Equipment Corporation, Linde Material Handling, Toyota Material Handling, The Raymond Corporation, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2024.

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

This Insight Report provides a comprehensive analysis of the global Hydrogen-powered Forklifts 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 Hydrogen-powered Forklifts portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Hydrogen-powered Forklifts market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Hydrogen-powered Forklifts 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 Hydrogen-powered Forklifts.

This report presents a comprehensive overview, market shares, and growth opportunities of Hydrogen-powered Forklifts market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Counterbalanced
Forward-moving
Others

Segmentation by Application:
Industrial Manufacturing
Warehouse and Logistics
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.
Bobcat Company (Doosan)
Crown Equipment Corporation
Linde Material Handling
Toyota Material Handling
The Raymond Corporation
Jungheinrich AG
Hyster-Yale Materials Handling, Inc.
HANGCHA
HELI
JUST POWER

Key Questions Addressed in this Report

What is the 10-year outlook for the global Hydrogen-powered Forklifts market?

What factors are driving Hydrogen-powered Forklifts market growth, globally and by region?

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

How do Hydrogen-powered Forklifts market opportunities vary by end market size?

How does Hydrogen-powered Forklifts break out by Type, by Application?

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