Raipur, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Forklift Truck Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Forklift Truck Market is driven by a host of factors, some of which are noted below:
- Growing construction industry, accompanied by rapid industrialization.
- Highly cost-effective, user-friendly, powerful, and simple to maintain.
- A growing number of warehouse establishments in emerging economies.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Forklift Truck Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- By Fuel Type (Diesel, Battery-Electric, and Gasoline & LPG/CNG).
- By Tonnage Type (Below 5 Ton, 5 Ton – 10 Ton, 11 Ton – 36 Ton, and More Than 36 Ton).
- By Class Type (Class I, Class II, Class III, Class IV, and Class V),
- By Application Type (Manufacturing, Wholesale & Retail Distribution, Freight & Logistics, and Others).
- By Region (North America, Europe, Asia-Pacific, and the Rest of the World).
Forklift Truck Market Insights
Market Trends by Fuel Type
The market is segmented as diesel, battery-electric, and gasoline & LPG/CNG. The battery-electric fuel type segment is expected to register the fastest growth in the market during the forecast period. The growth of the segment is owing to the growing preference for fuel efficiency and increased focus on emission norms. Furthermore, high demand for battery-electric forklifts is expected to drive the segment’s growth due to low operating noise, quick charging, and suitability for use inside manufacturing facilities.
Market Trends by Application Type
The market is segmented as manufacturing, wholesale & retail distribution, freight & logistics, and others. The manufacturing application type is estimated to account for the major share of the market during the forecast period. The segment’s growth is driven by infrastructure development in emerging economies. Furthermore, companies are focusing on increasing productivity by replacing human labor with machines, which is likely to boost the growth of the market during the forecast period.
Which region offers the best opportunity and growth?
Asia-Pacific accounted for the largest market share of more than 43% in 2021 and is projected to grow at a steady CAGR during the forecast period. The growth of the region’s market is owing to industrialization in China, Japan, and India. Furthermore, the region's robust manufacturing sector and demand for modern material handling equipment across industries are expected to fuel the market growth during the forecast period. In addition, companies are focusing on establishing manufacturing facilities in India, which will drive the forklift truck market over the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
COVID-19 Impact on the Forklift Truck Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/87/lift-truck-market.html#form
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
- General Electric Company
- Hella KGaA Hueck & Co.
- Hyundai Mobis
- Koito Manufacturing Co., Ltd.
- Koninklijke Philips N.V.
- Magneti Marelli S.p.A.
- Osram Licht AG
- Samsung Electronics
- Valeo
- Varroc
What deliverables will you get in this report?
- In-depth analysis of the Forklift Truck Market
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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About us –
Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
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