Forklift Market revenue to reach $200 Bn by 2032, Predicts Global Market Insights Inc.
Major forklift market players include the likes of Godrej and Boyce Group, Hyundai Heavy Industries Co., Ltd., Lonking Forklift Co., Ltd., Doosan Industrial Vehicle America Corp., Anhui Heli Co., Ltd., Mitsubishi Nichiyu Forklift Co., Ltd., Kion Group AG, Toyota Industries Corporation, Komatsu Ltd and more.
Selbyville, Delaware, Jan. 23, 2023 (GLOBE NEWSWIRE) —
Forklift Market size is expected to cross a valuation of USD 200 billion by 2032, according to the . For large retailers and e-commerce businesses, technological advancements in forklifts, such as automation and sensor integration, will further ease inventory management, driving further revenue growth.
Rapid industrial sector development to shape Asia Pacific market
The APAC forklift industry is poised to attain 10% gains through 2032, amid rapid growth of the region’s industrial sector, particularly in countries such as India, China, and Japan. Many government organizations are also supporting the development of these industries with the help of favorable initiatives and incentives. The region is also home to a booming e-commerce market, because of the presence of large online shopping firms, such as Alibaba and JD.com in China and Flipkart and Amazon in India, which is creating a high demand for forklifts in regional warehouses.
Business expansion efforts to outline the competitive landscape
Major forklift market players are Clark Material Handling Company, Godrej and Boyce Group, Hyundai Heavy Industries Co., Ltd., Lonking Forklift Co., Ltd., Hubtex Maschinenbau GmbH & Co. KG, Mitsubishi Nichiyu Forklift Co., Ltd., Kion Group AG, Anhui Heli Co., Ltd., Toyota Industries Corporation, Komatsu Ltd., Hangcha Group Co., Ltd., Cargotec Oyj, Doosan Industrial Vehicle America Corp., Combilift Ltd., Hyster-Yale Materials Handling, Inc., Jungheinrich AG, Konecranes, Crown Equipment Corporation, Manitou Group, and Paletrans Equipment. To capitalize on the expanding landscape, many lift truck manufacturers are focusing on expanding their operations to more markets.
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Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Forklift industry 360° synopsis, 2018 – 2032
2.1.1 Business trends
2.1.1.1 Total Addressable Market (TAM), 2023 – 2032
2.1.2 Product trends
2.1.3 Fuel type trends
2.1.4 Class trends
2.1.5 End-use trends
2.1.6 Regional trends
Chapter 3 Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 on forklift industry landscape
3.3 Russia-Ukraine war impact
3.4 Industry ecosystem type analysis
3.5 Profit margin analysis, 2022
3.6 Technology & innovation landscape
3.7 Patent landscape
3.8 Key initiative & news
3.9 Regulatory landscape
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.1.1 Rising expansion of e-commerce and logistic industry in North America.
3.10.1.2 Stringent emission norms drive the demand for electric forklifts in Europe
3.10.1.3 Increasing technological innovations and adoption of automation in manufacturing activities in North America and Europe
3.10.1.4 Growing automation demand from Asia Pacific
3.10.1.5 Improving industrial sector and enhancing productivity demand in South American economies
3.10.1.6 Proliferation of the aviation industry in MEA
3.10.2 Industry pitfalls & challenges
3.10.2.1 High initial investment & maintenance costs
3.10.2.2 Lack of trained operators
3.11 Investment landscape
3.12 Growth potential analysis
3.13 Porter’s analysis
3.14 PESTEL analysis
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