Market Overview

The Global Forklift Trucks Market (2018-2023) by Power Source, Class, End-user and Region -


The "Global
Forklift Trucks Market - Segmented by Power Source (Internal Combustion
Engine, and Electric Motor), Class (Class I, Class II, Class III, and
Class IV), End-user, and Region - Growth, Trends, and Forecast (2018 -
report has been added to's

The forklift trucks market was is expected to register a CAGR of over 6%
during the forecast period (2018-2023).

Forklift Trucks are one of the most common material handling equipment
in the market. Although there are a high number of automated solutions
arriving in the market the demand for manual internal combustion (IC)
and electric forklifts has not dwindled. In fact, the increasing demand
from Europe and Asia Pacific region is expected to further raise the
sales 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 trucks market headlong,
lack of skilled labor and advent of automated guided vehicles (close
substitutes to forklift trucks) pose a significant challenge to the
market, hindering the growth.

However, in the current market scenario, the low-cost forklift trucks
often outweigh the high-cost automated solutions. But the increasing
adoption of Industry 4.0 policies, increasing costs of commercial
warehouse spaces, demand for ultra-fast deliveries, and logistics
operations and declining robotics costs will undoubtedly affect the
forklift trucks market in the near future.

Key Findings

  • Electric Forklift Trucks to Hold the Largest Share
  • Increasing Demand from North America

Developments in the Market

  • May 2018 - Toyota Advanced Logistics, North America division has
    completed the acquisition of Peach State Integrated Technologies,
    through its operating subsidiary, Bastian Solutions. Peach State is a
    strategic supply chain consulting, engineering, and material handling
    integration firm headquartered in Atlanta. The acquisition is expected
    to support Toyota's expansion strategy while offering clients an
    expanded network of services.

Key Topics Covered

1. Introduction

2. Executive Summary

3. Market Overview

4. Market Dynamics

5. Global Forklift Trucks Segmentation

6. Vendor Market Share Analysis

7. Company Profiles

  • 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.

8. Investment Analysis

9. Future of Global Forklift Trucks Market

For more information about this report visit

View Comments and Join the Discussion!