The global forklift market is projected to grow at a CAGR of 1.93%, from USD 16.00 Billion in 2016 to USD 17.61 Billion by 2021
Seattle, WA -- (SBWIRE) -- 01/16/2017 -- The report "Forklift Market by Application (Manufacturing, Wholesale & Retail Distribution, Freight, & Logistics), Fuel (Diesel, Electric, and Gasoline & LPG/CNG), Tonnage (<5, 5-10, 11-36, and >36), Class (1, 2, 3, and 4/5), and Region - Global Forecast to 2021", The global forklift market is projected to grow at a CAGR of 1.93%, from USD 16.00 Billion in 2016 to USD 17.61 Billion by 2021.
Browse 67 market data tables and 57 figures spread through 141 pages and in-depth TOC on "Forklift Market - Global Forecast to 2021"
Download PDF Brochure
Early buyers will receive 10% customization on reports.
In terms of volume the market is expected to reach 1.5 Million units by 2021. The major factors behind the growth of the forklift market is the increase in e-commerce and warehouse segment and the technological advancements being acquired by the industries and warehouses.
Make an Inquiry
The class 3 types of forklift are estimated to be the fastest growing in the global forklift market
The class 3 type of forklift mainly includes electric warehouse pedestrian trucks. The demand for these vehicles are increasing due to increasing trend of electric forklift being used by the material handling departments and warehouses, as electric forklift are environment friendly and more efficient than Internal Combustion Engine (ICE) forklift.
The wholesale and retail distribution is estimated to be the fastest growing segment
The wholesale and retail distribution segment of the global forklift market is projected to grow at the highest CAGR during the forecast period. As enhanced transportation network between different countries and continents has led to the increased stocking of goods in warehouses which are further distributed through the wholesalers and distributors. The European market of the wholesale and retail distribution segment was estimated to be the largest. The battery-operated forklift is estimated to dominate this segment as battery-operated forklifts have proven to be energy efficient, eco-friendly, and economical for distribution applications.
Europe is estimated to be the fastest growing region for the forklift market
The European forklift market is projected to be the fastest growing market of forklift owing to the increased demand of battery operated vehicles and warehouse segment growth, it contributes a major market share of the global forklift market. The European forklift market is dominated by Germany, which is the key market for the forklifts in the region owing to the increased demand from manufacturing as well as warehouse segment in the country.
The major players such as Toyota Industries Corporation (Japan), KION Group AG (Germany), Hyster-Yale Material handling Inc. (U.S.), Jungheinrich group (Germany) and Mitsubishi Nichiyu Forklift Corporation (Japan) are the global forklift manufacturers who have been covered in this study.
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
USA : 888-600-6441