Triton Market Research’s report predicts that the forklift truck market in Europe will showcase a CAGR of 7.88% in value and 5.45% in volume during 2023-2030. Italy, the United Kingdom, Germany, Spain, France, and the Rest of Europe are examined in the given region.
The German forklift market is experiencing significant growth. The country boasts a strong economy and serves as a major logistics hub. The presence of major industries such as automotive and pharmaceuticals contributes to the demand for forklifts. Germany’s major warehousing and logistics sector, along with the large e-commerce market, promote the need for efficient material handling equipment. With the high number of e-commerce consumers and internet penetration, the demand for forklifts in the region is expected to increase further. Besides, the need for efficient warehouse management, logistics operations, and speedy order fulfillment to meet rising customer expectations drives companies to optimize processes and implement advanced technologies.
Similarly, the rise in online shopping has led to an increase in warehouses and logistics facilities, resulting in higher demand for forklifts in the United Kingdom. In addition, the UK government’s continued funding of infrastructure projects and construction activities is expected to boost demand for forklifts. Additionally, the adoption of advanced technologies such as automated guided vehicles (AGVs) and robotics in warehouses is likely to fuel the demand for specialized forklifts that can integrate with these systems, further driving the growth of the forklift truck market in the country.
COMPETITIVE OUTLOOK
The eminent firms in the forklift truck market are Kion Group AG, Doosan Corporation, Crown Equipment Corporation, Mitsubishi Logisnext Co Ltd, and Komatsu Ltd.
1. Europe Forklift Truck Market - Summary
2. Industry Outlook
2.1. Impact Analysis On The Forklift Truck Market
2.1.1. Covid-19 Impact
2.2. Porter’s Five Forces Analysis
2.2.1. Threat Of New Entrants
2.2.2. Threat Of Substitutes
2.2.3. Bargaining Power Of Buyers
2.2.4. Bargaining Power Of Suppliers
2.2.5. Threat Of Competitive Rivalry
2.3. Market Maturity Analysis
2.4. Industry Components
2.4.1. Suppliers
2.4.2. Manufacturers
2.4.3. Distributors
2.4.4. End-user
2.5. Key Buying Impact Analysis
2.5.1. Cost
2.5.2. Engine Type
2.5.3. Payload Capacities
2.5.4. Lift Height
2.6. Key Market Strategies
2.6.1. Product Launches
2.6.2. Business Divestitures And Expansions
2.7. Market Drivers
2.7.1. Growing Demand From The E-commerce Sector
2.7.2. Transition Toward Automation Of Manufacturing Plants
2.8. Market Challenges
2.8.1. Stringent Training And Emissions Regulations
2.8.2. Fluctuating Price Of Raw Materials
2.9. Market Opportunities
2.9.1. Rising Demand For Electric Forklifts
2.9.2. Introduction Of Autonomous Vehicle Technology For Material Handling
2.10. Analyst Perspective
3. Europe Forklift Truck Market – By Power Source
3.1. Ic Engine Powered
3.2. Electric Powered
4. Europe Forklift Truck Market – By Type
4.1. Class 1
4.2. Class 2
4.3. Class 3
4.4. Class 4 & 5
5. Europe Forklift Truck Market – By End-user
5.1. Retail And E-commerce
5.2. Construction
5.3. Manufacturing
5.4. Other End-users
6. Europe Forklift Truck Market – By Country Outlook
6.1. Europe
6.1.1. Country Analysis
6.1.1.1. United Kingdom
6.1.1.1.1. United Kingdom Forklift Truck Market Forecast & Prospects