Dublin, Jan. 03, 2025 (GLOBE NEWSWIRE) -- The "Global Forklift Growth Opportunities, Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The forklift market in the industrial equipment industry has grown significantly in recent years, with a global market size of OEMs reaching $65.5 billion in 2023.
Unit sales in electric models reached 1,517,165 units in 2023; study projects the figure to increase to 2,599,553 units in 2030 at an 8% compound annual growth rate (CAGR). Factors driving the industry growth include transportation and warehouse market growth, technological advancements including improved energy density and long lifecycle for batteries, regulations, and cost efficiency improvements in electric vehicles in upcoming years.
The publisher expects regional growth to differ due to regulations and market forces from 2023 to 2030. In terms of unit sales, North America, Europe, Asia-Pacific, and the rest of the world will likely record strong CAGRs of 3.9%, 4%, 6.9%, and 6.3%, respectively, because of increased competition and technological advancements. Similarly, electric forklifts in each market will register growth rates of 5.3%, 4.8%, 10.9%, and 7.5%, respectively.
The market is competitive, with many manufacturers wanting to participate in electrification and autonomous equipment. Toyota, Kion, Jungheinrich, Mitsubishi Logisnext, Crown, Hyster-Yale, Manitou, Anhui Heli, Cargotec (Kalmar), Hangcha Group, Clark, Merlo, Komatsu, Lonking, Hyundai Material Handling, Combilift, Hubtex, Godrej & Boyce, and Baumann have a presence in multiple markets and offer a range of products. A trend characterizing the industry is more sustainable and efficient vehicles, with a rising focus on reducing emissions and improving fuel efficiency. This trend is driving innovation, with manufacturers developing electrification and autonomous technologies.
Major innovations will likely be in batteries, efficient powertrains for increased total cost of ownership benefits, automation and robotics, AI, and innovative business models. Frost & Sullivan anticipates industry growth to be propelled by high-tech innovations, a sustainability push, and the need for electric equipment.
Key Topics Covered:
Growth Environment: Transformation in Forklift
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top 3 Strategic Imperatives on the Forklift Industry
Growth Environment: Ecosystem in Forklift Industry
- Scope of Analysis
- GDP Growth
- eCommerce Market Forecast
- Warehouse Market
- Top Warehouses
- Competitive Environment
- Key Competitors - OEMs
- Mergers, Acquisitions, and Partnerships
Market Landscape: Forklift
- Growth Metrics
- Growth Drivers
- Growth Restraints
- Forecast Methodology
- Unit Sales Forecast: Forklift, Global
- Unit Sales Forecast: Forklift, North America
- Unit Sales Forecast: Forklift, Europe
- Unit Sales Forecast: Forklift, APAC
- Unit Sales Forecast: Forklift, Rest of the World (RoW)
- EIO Forecast: Forklift, Global
- EIO Forecast by Region: Forklift, Global
- Competitive Benchmarking - OEMs
- Competitive Benchmarking - Battery and Charger Suppliers
- Autonomous Vehicle: Competitive Landscape
- Market Share of Top 15 OEMs - Equipment Sales in Industrial Equipment Industry
- ITA Lift Truck Classification Offerings - Top OEMs
- SWOT Analysis, Top 3 OEMs
Trend Analysis
- Top Trends Driving the Forklift Market
- Electrification, Forklift Battery Options
- Electrification, Market Snapshot
- Electrification, Top 3 OEMs - Toyota
- Electrification, Top 3 OEMs - Kion
- Electrification, Top 3 OEMs - Jungheinrich
- Electrification, TCO Analysis
- Automation and Robotics
- Automation and Robotics, Tech Deep Dive
- Automation and Robotics, Impact of AI Telematics
- BMT, Electrification
- BMT, Flexible Ownership Options
- BMT, Remanufacturing
Growth Opportunity Universe
- Growth Opportunity 1: Electrification in Warehousing and Industrial Sectors
- Growth Opportunity 2: Innovative Business Models
- Growth Opportunity 3: Demand for Autonomous Vehicles
Appendix & Next Steps
For more information about this report visit https://www.researchandmarkets.com/r/3r1dow
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
