Forklift Truck Market Size, Share, Forecast Report, 2020-2027

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The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Forklift Truck Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Forklift Truck market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The global forklift truck market size was valued at $45.01 billion in 2019 and is projected to reach$81.40 billion by 2027, registering a CAGR of 7.3% from 2020 to 2027. Asia-Pacific accounted for the highest share in the global forklift truck market in 2019, in terms of revenue, and LAMEA is anticipated to exhibit remarkable growth rate during the forklift truck market forecast.

Forklift trucks are powerful, heavy-duty electric lift trucks are widely used to lift and transfer heavy materials, such as container goods, crates, and other such components, over a short distance. These trucks are majorly used in dockyards, warehousing operations, and recycling operations to perform functions such as loading & unloading goods from vehicles and moving packed goods around the storage area. In addition, forklift is generally powered by electric battery or internal combustion engines. In addition, by weight and specifications, forklifts are classified into various classes such as class1, class 2, class 3, class 4, and others. Moreover, these vehicles are used with variety of attachments such as platforms and grippers for efficient handling of goods and for reducing operation cost.

Developments in e-commerce business drive the growth of global forklift truck market. In addition, rise in investments in the infrastructure industry is anticipated to propel the growth of the market. However, increase in safety issues related to forklift trucks hampers the market growth. Furthermore, production of hydrogen fuel cell forklifts and development of autonomous forklifts trucks offers remarkable growth opportunity for the players operating in the forklift truck industry.

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Forklift Truck market are included as given below:

� Crown Equipment Corporation

� EP Equipment

� Hangcha

� Hyster-Yale Materials Handling, Inc.

� Jungheinrich AG

� KION GROUP AG

� Komatsu Ltd.

� Lonking Machinery Co., Ltd.

� Mitsubishi Logisnext Co., Ltd.

� Toyota Industries Corporation

The global Forklift Truck market has been segmented as below:

By Power Source

� IC Engine Powered

� Electric Powered

By Class

� Class 1

� Class 2

� Class 3

� Class 4

� Class 5

� Others

By End Use

� Retail & Wholesale

� Logistics

� Automotive

� Food Industry

� Others

By Region

� North America

o U.S.

o Canada

o Mexico

� Europe

o UK

o Germany

o France

o Italy

o Rest of Europe

� Asia-Pacific

o China

o Japan

o Australia

o Malaysia

o Rest of Asia-Pacific

� LAMEA

o Latin America

o Middle East

o Africa

Reasons to Purchase this Report:

Estimates Forklift Truck development trends with SWOT analysis

� Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players

� Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market's expansion

� Market dynamics scenario, along with growth opportunities for players in the years to come

� Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period

� Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects