One of the challenging tasks in warehouses and distribution centers is that of placing and removing loads from storage racks, loading and unloading trailers in the yard or at the dock, delivering components to the assembly line, and positioning loads for further handling processes.
New York, NY -- (SBWIRE) -- 02/25/2016 -- A new market research study published by the market intelligence firm Persistence Market Research presents an in-depth and professional analysis of the global market for forklift trucks. The report is titled "Global Market Study on Forklift Trucks: Asia-Pacific to Witness Highest Growth by 2021", and is available on the company website for sale.
According to the report, the global market for forklift trucks will expand at a moderate, yet a positive CAGR of 6% between 2015 and 2021, the report's forecast period. Consequently, the market , which stood at US$ 35.3 bn in 2014, will rise to US$ 55.9 bn by 2021.
Forklift trucks are the motorized vehicles that are used for independent movement, lifting, and placement of discrete loads across a variety of facilities. They are used to carry out the challenging task of removing and placing loads from storage racks, delivering various components to assembly line, loading and unloading trailers at a dock or in a yard of warehouses and distribution centers.
A variety of attachments, such as clamps, grippers, or platforms can be used with forklift trucks, making them functionally more viable for a variety of application areas. As such, forklift trucks find applications across a number of industries such as automotive, construction, aerospace, consumer goods, retail, e-commerce, and food and beverages.
The report segments the global forklift truck market based on four broad criteria: product types, technology types, class of forklift trucks, and key regional markets. Based on product types, the market is segmented into counterbalance and warehouse forklift trucks. On the basis of technology, the market is segmented into internal combustion engine powered and electric powered forklift trucks. Based on class, the market is further segmented into class 1, class 2, class 3, class 4, and class 5 forklift trucks. The key regional markets for forklift trucks studied in the report include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
In 2014, the market segment of counterbalance forklift trucks held the largest share of the market in terms of product types, and acquired nearly 63% of the market.
Of the key regional markets studied, the report states that the global market will see the most significant traction in Asia Pacific over the report's forecast period owing to the flourishing industries of the region. In 2014, the region acquired nearly 41% of the market, with China alone accounting for 25% of the global market. Europe held a 30% share and ranked the second largest regional market for the global forklift trucks market in 2014.
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By analyzing the current market and financial status of some of the key vendors operating in the global forklift trucks market, along with details gathered from recent developments observed in the market over the near past, the report presents before the reader an overview of the competitive landscape of the global forklift truck market.
View TOC (table of content), Figures and Tables of the Report: http://www.persistencemarketresearch.com/toc/3552
The report presents detailed business profiles of companies such as Jungheinrich AG, Toyota Industries Corporation (TICO), Hyster-Yale Materials Handling, Inc., Anhui HeLi Co., Ltd., UniCarriers Americas Corporation, Mitsubishi Nichiyu Forklift Co., Ltd., Kion Group AG, CLARK Material Handling Co., Ltd., and Crown Equipment Corporation.
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