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Market Trends, Segmentation, Market Growth and Competitive Landscape – PRnews Leader

Forklift Trucks

Forklift Trucks Market” report provides strategic supports mentioned by the business specialists with market sources, amount of manufacturing cost structure, raw materials, forecasts, turnover, manufacturing outlays, latest market trends, labor cost, demands and much more. Forklift Trucks market report covers a comprehensive market structure through the globe with an in-depth study of major dynamics (Drivers, Challenges, Opportunities).  

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Key Market Trends:

Electric Forklift Trucks to Hold the Largest Share

– In the past few years, electric/battery-powered forklifts have taken a stronghold in the material handling environment. The limitations and drawbacks that once made electric forklifts inefficient and impractical have been put to rest by advancing technologies and proven performance.
– Many industrial companies are switching to electric forklifts, because energy-efficient, environmentally friendly machines can do virtually anything emission producing IC forklifts do. Electric forklifts are a realistic alternative to liquid-fueled lift trucks and are more economical to operate, equally powerful, easier to maintain, safer, quieter, and cleaner.
– Although the rates of electric forklift depend upon location, it is clear that energy-consumption costs for an electric forklift are far less. Therefore, governments across various countries have been supporting the electric forklifts growth.
– For instance, the Chicago government regulations are pushing materials handling companies to innovate. Owing to this, Hyster Yale introduced two new products of its research and development initiatives, showcasing the company’s first counterbalanced electrical forklift truck with a factory-integrated lithium-ion battery pack.
– With several other advantages, like zero emission, low noise, better visibility, and the knack to virtually perform every task that an IC forklift can do is increasingly consenting electric forklift trucks to gain more market share every and is expected to be the fastest growing forklift type over the forecast period.

North America to Account for the Largest Portion of the Forklift Demand

– According to the estimates of Clark Material Handling Company, US, the industry contributed over USD 25 billion annually to the US GDP, supporting more than 200,000 US jobs annually. As this aligns with the interests of the current US government, to create jobs for US citizens, the sales of this equipment are expected to witness considerable growth in the region over the forecast period, making North America one of the fastest growing regions for the forklift trucks market.
– For instance, in 2019, Toyota Material Handling North America (TMHNA) selected four research proposals to provide the industry with solutions that are smarter, more efficient in terms of new technology and innovative approaches which can help the industry for material handling, warehouse, supply chain, logistics.
– However, the region has witnessed the slowest growth owing to increased penetration as compared to other countries. According to the Material Handling and Logistics Organization, just more than a quarter million units of forklifts were sold in North America, in 2017.

Market Overview:

  • The forklift trucks market is expected to register a CAGR of over 6% during the forecast period (2019 – 2024). Forklift trucks are one of the most common material-handling equipment in the market. Although, there are a large number of automated solutions arriving in the market, the demand for manual internal combustion (IC) and electric forklifts have not dwindled.
  • – The increasing demand from the European and the Asia-Pacific regions are expected to further increase the sale of these units over the forecast period. While the tremendous demand from the retail industry, especially from the e-commerce sector, is driving the forklift truck market headlong, the advent of automated guided vehicles (close substitutes to forklift trucks) pose a significant challenge to the market.
  • – However, the uneven weight distribution is due to a more massive rear section to compensate for the loads being carried in the front, which is increasing the chance of tipping over during tight turns.
  • – It is evident that the energy-consumption costs of an electric forklift is comparatively less. Furthermore, advantages like zero emission, zero noise pollution, and the ability to virtually perform every task that an IC forklift can do, is increasingly approving electric forklift trucks to gain more market share every year.

    Key Manufacturers Like 

  • Toyota Industries Corporation
  • KION Group
  • Jungheinrich AG
  • Crown Equipment Corp.
  • Hyster
  • Yale Materials Handling Inc.
  • Komatsu Ltd
  • Mitsubishi Nichiyu Forklift Co.
  • Doosan Industrial Vehicles Co. Ltd
  • Hyundai Heavy Industries Co. Ltd
  • Combilift Ltd
  • Godrej and Boyce Manufacturing Co. Ltd
  • Clark Material Handling Company Inc..

    Scope of the Report:

  • A forklift is a powered industrial truck, having two power-operated horizontal prongs that can be raised and lowered for loading, transporting, unloading goods and moving materials over short distances. Forklift trucks can be classified under power source in two different ways, namely internal combustion engine and electric motor. The increasing demand in various industries, such as transportation and logistics, retail sector, general manufacturing, construction, food, and beverage industry is penetrating the forklift market.

    Forklift Trucks market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Forklift Trucks market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Forklift Trucks market have also been involved in the study.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

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    Key Questions Answered in Market Report: –

    • What will the market growth rate, Overview and Analysis by Type of Forklift Trucks market in 2023?
    • What are the key factors driving, Analysis by Applications and Countries Forklift Trucks market?
    • What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Forklift Trucks ?
    • Who are Opportunities, Risk and Driving Force of Forklift Trucks market? Knows Upstream Raw Materials Sourcing and Downstream Buyers
    • Who are the opportunities and threats faced by the vendors in Forklift Trucks space? Business Overview by Type, Applications, Gross Margin and Market Share
    • What are the Forklift Trucks market opportunities, market risk and market overview of the Market?

    Lastly, the Global Forklift Trucks Market Research covers a complete market structure across the world with a comprehensive analysis of major key factors. This report provides planned orientations referred by the industry experts.

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    Study objectives of Forklift Trucks Market Report:

    • To provide a detailed analysis of the market structure along with the Forklift Trucks market forecast of various segments and sub-segments of the Forklift Trucks market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Forklift Trucks market trends that influence the global Forklift Trucks market

    Detailed TOC of Forklift Trucks Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Rapidly Growing Warehouse Establishments
    4.2.2 Increasing Commercials Space Prices
    4.3 Market Restraints
    4.3.1 Rising Safety Issues Related to Forklifts
    4.4 Industry Attractiveness – Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Power Source
    5.1.1 Internal Combustion Engine
    5.1.2 Electric Motor
    5.2 By Class
    5.2.1 Class I
    5.2.2 Class II
    5.2.3 Class III
    5.2.4 Class IV
    5.2.5 Class V
    5.3 By End-user Vertical
    5.3.1 Transportation and Logistics
    5.3.2 Retail Industry
    5.3.3 General Manufacturing
    5.3.4 Construction
    5.3.5 Food and Beverage Industry
    5.3.6 Other End-user Verticals
    5.4 Geography
    5.4.1 North America
    5.4.2 Europe
    5.4.3 Asia-Pacific
    5.4.4 Latin America
    5.4.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Vendor Market Share
    6.2 Company Profiles
    6.2.1 Toyota Industries Corporation
    6.2.2 KION Group
    6.2.3 Jungheinrich AG
    6.2.4 Crown Equipment Corp.
    6.2.5 Hyster-Yale Materials Handling Inc.
    6.2.6 Komatsu Ltd
    6.2.7 Mitsubishi Nichiyu Forklift Co.
    6.2.8 Doosan Industrial Vehicles Co. Ltd
    6.2.9 Hyundai Heavy Industries Co. Ltd
    6.2.10 Combilift Ltd
    6.2.11 Godrej and Boyce Manufacturing Co. Ltd
    6.2.12 Clark Material Handling Company Inc.

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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