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Forklift Market by Application, Fuel, Tonnage, Class, and Region - Global Forecast to 2021

Forklift Market: Global Forecast until 2021

  • January 2017
  • 143 pages
  • ID: 4608258
In this report:
The global market for gasoline and LPG/CNG powered forklifts is expected to decline at a CAGR of -##.##%, from ##.## thousand units in 2016 to ##.## thousand units by 2021
U.S. forklift sales drastically decreased from ## thousand units in 2008 to ## thousand in 2009 whereas Western Europe witnesses a ## % decline in forklift sales for the same period.


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"In order to meet stringent emission regulations by the European Commission and Environment Protection Agency, the forklift manufacturers are focusing on battery-electric forklifts."

The overall forklift market is estimated to rise at a compound annual growth rate of ~1.9 percent, from ~$16.0B in 2016 to ~$17.6B by 2021. The sector is forecasted to reach 1.5 million units by 2021 in terms of value. The quickest increasing trend in the overall forklift market is the battery operated forklift. The industry demand for battery-operated forklifts has increased because of their enhanced performance levels and greater productivity. Additionally, battery-operated forklifts also provide emission control advantage and are more economical as compared to ICE industrial vehicles.

"The manufacturing segment is projected to hold most important market size"

The manufacturing segment is forecasted to hold biggest market size of forklifts in 2016, owing to increase in demand for infrastructural development. The paper sector, steel & iron market, automotive sector, food and beverage market, and others are the few examples of manufacturing sectors where forklifts are being used. Nevertheless, distribution segment is anticipated to lead the industry by 2021 significantly due to growing number of warehouses being set up across the areas.

"Asia-Pac is the most important area in the overall forklift market"

In 2016, the biggest regional market for the forklift is the APAC market, which holds majority of the market share of the overall forklift market by value and quantity. The adoption of forklift in the Indian and Chinese market is projected to be low, but this forecast is estimated to growth quickly in the near future as the Asian countries are developing in e-commerce and industrial manufacturing markets. The European forklift market is the quickest increasing, which is dominated by Germany (DE), a main market for the forklifts in the territory.

The market research includes industry insights specified by different market experts, ranging from forklift manufacturers to Tier-3 firms and different industry associations.

The break-up of the primaries is like:

By Company Type: Tier I - 89.0 percent, Tier II - 5.0 percent, and Tier III - 6.0 percent

By Description: C-suite - 5.0 percent, D-suite - 56.0 percent, and Grade of manager - 39.0 percent

By area: Americas - 17.0 percent, Europe - 33.0 percent, Asia-Pacific - 33.0 percent and rest of the world - 17.0 percent

Segment Research

The study includes the overall forklift market established on area (Americas, Europe (EU), Asia Pacific (APAC), Rest of the World-Africa and Oceania), Class (Class 1 -Electric Rider Trucks-Counterbalanced, Class 2 Electric Warehouse Rider Truck, Class 3 Electric Warehouse Pedestrian Trucks, Class 4&5 Internal Combustion Trucks, Cushion and Pneumatic Tires, Counterbalanced), Tonnage Capacity (Less than 5 ton by area, 5 ton - 10 ton by area, 11 ton - 36 ton by area, Above 36 ton), Fuel (Diesel, Gasoline & LPG/CNG, Battery-electric).

Why Purchasing This Study Can Help You:

The analysis offers business insights about the following parts:

- Business entry: Exhaustive information about forklift provided by the top actors in the sector

- Regulatory Framework: In-depth understanding into stringent emission regulations, and the effect of the regulations on the sector

- Industry development: Highlighted information about several engine technology trends. The market research examines the industries for different engine technologies across the countries

- Industry diversification: Complete information about emerging technologies, recent evolutions, and market investments in the overall forklift market

- Opposing assessment: Detailed assessment of strategies, services, and manufacturing competences of key players in the overall forklift market

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