Middle East And Africa Forklift Truck Market 2023-2030
MARKET OUTLOOK
According to a report by Triton Market Research, the forklift market in the Middle East and Africa is projected to grow significantly in revenue and volume between 2023 and 2030, at a CAGR of 8.19% and 4.19%, respectively. The countries studied in this region include Turkey, South Africa, Saudi Arabia, the United Arab Emirates (UAE), and the rest of the Middle East and Africa.
Saudi Arabia is expected to play a significant role in the growth of the region’s market, driven by its thriving manufacturing and industrial sectors. The country is well-positioned for market expansion with a well-developed infrastructure, industrial cities, and a strong logistics network. The growing influence of social media, which facilitates online shopping, increased purchasing power, and access to various products, has fueled demand in the e-commerce sector, providing further opportunities to the forklift truck market.
Similarly, the South African forklift market is flourishing due to increasing demand in the manufacturing, logistics, and construction industries. The expanding e-commerce sector and the robust performance of the automotive industry further support growth in the country. South Africa’s automotive plan aims to establish the country as a leading player in global vehicle production, increasing manufacturing activities and driving demand for forklifts to facilitate efficient goods handling.
COMPETITIVE OUTLOOK
Key contenders in the forklift truck market comprise Kion Group AG, Komatsu Ltd, Jungheinrich AG, Mitsubishi Logisnext Co Ltd, Toyota Industries Corporation, Doosan Corporation, and Clark Material Handling Company.
1. Middle East And Africa 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 & Expansions
2.7. Market Drivers
2.7.1. Growing Demand From 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. Middle East And Africa Forklift Truck Market – By Power Source
3.1. Ic Engine Powered
3.2. Electric Powered
4. Middle East And Africa Forklift Truck Market – By Type
4.1. Class 1
4.2. Class 2
4.3. Class 3
4.4. Class 4 & 5
5. Middle East And Africa Forklift Truck Market – By End-user
5.1. Retail & E-commerce
5.2. Construction
5.3. Manufacturing
5.4. Other End-users
6. Middle East And Africa Forklift Truck Market – By Country Outlook
6.1. Middle East & Africa
6.1.1. Country Analysis
6.1.1.1. United Arab Emirates
6.1.1.1.1. United Arab Emirates Forklift Truck Market Forecast & Prospects
6.1.1.2. Saudi Arabia
6.1.1.2.1. Saudi Arabia Forklift Truck Market Forecast & Prospects