Global Electric Forklift Trucks Market Analysis 2016-2024: Size, Share, Industry Trends & Forecast

Growing Demand for Electric and Green Technology Vehicles to Boost Global Forklift Trucks Market Especially In Asia Pacific Region

Global electric forklift trucks market is expected to expand at a compound annual growth rate (CAGR) of 7.1% over the forecast period i.e. 2016-2024.The major growth is attributed to the rising sales of electric warehouse lifts owing to the boom in e-commerce industry across the globe and subsequently rising need for efficient warehousing and logistics operations.

Market Landscape

The major growth driver is the upsurge in industrial production across various developing countries followed by strengthening of logistics infrastructure. With the escalation in cargo traffic and overall space crunch, productivity has become a major factor in shaping business growth and profitability. According to Goldstein Research analyst, huge expenditure on ports infrastructure development and a surge in e-commerce are among factors that are leading to an increase in containerization and palletization. This is a positive trend for the electric forklift trucks industry.

On the other hand, the rental will constitute of 25-35% of the electric forklift trucks market in the next five years. Rental forklift trucks market is developing at a remarkable rate. Previously the rental market was typically dominated by the small players; who utilized their fleets to meet peak loads in various capacities. But the situation is changing rapidly, a majority of the OEMs have now entered in the rental and leasing market and are now providing rental services along with a cluster of value-added services.

Electric Forklift Trucks Market” report 2016-2024 covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, the competitive analysis includes the in-depth analysis of the major players and leaders in electric forklift trucks industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler, and others. Our primary research team conducted various interviews, surveys and group discussions of industry professionals, electric forklift trucks manufacturers, aftermarket vendors and component suppliers to analyze the future prospects of the overall electric forklift trucks industry.

Global Electric Forklift Trucks Market Segmentation can be classified on the basis of:-

By Product Type

  • Warehouse Forklift Trucks
  • Counterbalance Forklift Trucks

By End Users

  • Retail and Wholesale
  • Logistics
  • Automotive
  • Food Industry
  • Others (Paper Industry, Wood Industry, etc.)

By Geography

  • North America (US, Canada) {Market Share (%), Market Size (USD Billion), Unit Sales (Thousand Units)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Unit Sales (Thousand Units)}
  • The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Unit Sales (Thousand Units)}
  • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Unit Sales (Thousand Units)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Unit Sales (Thousand Units)}


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Market Trends, Drivers, and Challenges

Key growth driving factors acknowledged in the global forklift truck market comprise the development of warehouse space globally, growing e-commerce business across the globe, solid demand for forklift truck replacement in developed markets, and bulk investments in purchase of low-cost forklift trucks in emerging markets.  Additionally, China electric forklift trucks market is anticipated to display the fastest growth over the forecast period owing to various dynamics, such as promising economic environment and a rising need for technological advancements in in-house logistics in the country.

Global Electric forklift trucks industry analysis report has been prepared based on an in-depth market analysis from industry experts from the market research company. Goldstein Research. The report covers the competitive landscape and current position of major players in the market space. The report also includes Porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. The global electric forklift trucks market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.

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