Dublin, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The "Global Forklift Trucks Market: Analysis By Value and Volume, Power Source, By Class, By End User Industry, By Region, By Country: Market Insights and Forecast" report has been added to ResearchAndMarkets.com's offering.
The report estimates a surge in market valuation to USD 100.04 billion by the year 2029, underpinning the importance of forklift trucks in modern-day logistics and material handling operations. A substantial CAGR of 10.24% forecasted for the period 2024-2029 reflects the market's vibrant expansion, driven by accelerating e-commerce growth and increased warehouse and supply chain activities globally.
In a newly published market study, industry experts provide an in-depth analysis of the global forklift trucks market, with detailed insights into its performance by value and volume, segmented by power source, class, end-user industry, and region.
The report's findings highlight the significance of forklift trucks across industries such as retail, logistics, and automotive, hinged on their versatility and operational efficiency. In dissecting the market, the analysis delves into various power sources fueling forklift trucks, namely internal combustion (IC) engines and electric models. With a grounded evaluation of each subclass – Class 1 through Class 4 and beyond – industry stakeholders gain strategic insights into market preferences and advancing technologies.
The application scope of forklift trucks in diverse sectors such as the burgeoning retail industry, the logistics and transportation surge, and the critical role of forklifts within the automotive sector, is meticulously assessed. The automotive industry’s revenue figures for 2022 stand testament to the forklift trucks’ indispensable contribution to operational streamlining.
Market Dynamics and Competitive Landscape
Comprehensive market dynamics are reviewed with a blend of SWOT and Porter’s Five Forces analyses, forging a robust evaluation framework. The competitive landscape is thoroughly explored, tracking key player strategies, mergers, acquisitions, and innovations, echoing the market's evolving nature and growth prospects.
- Extensive market analysis by value and volume, offering stakeholders a clear understanding of current and future market sizes.
- Assessment by power source, illuminating trends in the adoption of IC engines and electric forklifts.
- Detailed classification based on forklift classes that cater to various operational needs.
- A thorough appraisal of end-user industries and their influence on the forklift trucks market.
This report serves as a crucial resource for industry participants, investors, and other stakeholders aiming to navigate the complexities of the forklift trucks market, harnessing strategic advantages by understanding market trajectories, opportunities, and challenges. With the global forklift trucks market at the cusp of remarkable growth, industry actors are poised to leverage the data-rich analysis of prevalent and emergent trends, regional growth hotspots, and end-user industry shifts, aiding strategic decision-making and positioning for future-readiness.
The extensive research provides a window into the future of material handling, with forklift trucks at the forefront, heralding advancements in automation, operational efficiency, and intra-logistical synergies across a wide spectrum of industries, ensuring no industry player is left without the strategic acumen for prosperity.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 270 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $61.44 Billion |
| Forecasted Market Value (USD) by 2029 | $100.04 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/p2kgb3
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