Global Forklift Market is anticipated to grow at a CAGR of 9% and predicted to reach USD 2.2 Billion by 2023 – Techsci Research

Rapidly growing e-commerce sector, technological advancements and rising
globalization to aid growth of global forklift market through 2023.

According to TechSci Research report,


Global Forklift Market

By Class Type, By Fuel Type, By Application Type, By Region,
Competition, Forecast & Opportunities, 2023


, global forklift market is projected to reach 2.2 million units by 2023,
on account of growing employment of forklifts in warehouses and
distribution centers for placement and removal of loads from storage racks;
for stacking and emptying of trailers; for delivering components to the
assembly line and appropriate positioning of the loads at the dock; for
safe delivery of various manufacturing components to the assembly line and
for positioning of loads for further handling. Moreover, growing population
and increasing demand for supply chain of different products globally, is
anticipated to further fuel growth in global forklift market during
forecast period.


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“Global Forklift Market”



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Motorized hand forklift segment is projected to grow at the fastest CAGR
during forecast period on account of booming freight and logistics
industry, expanding e-commerce industry and rising environmental concerns.
On the basis of application, wholesale and retail distribution dominated
global forklift market as major forklift fleet operating companies use
forklifts for wholesale & retail distribution. Major players operating
in global forklift market includeToyota Industries Corporation, KION Group
AG, Jungheinrich AG, Crown Equipment Corp and Mitsubishi Logisnext Co.,
Ltd. among others. In 2016, Jungheinrich AG launched the first lithium-ion
battery powered vehicle with the battery capacity of 360 and 480 ampere
hours. In 2018, Kion acquired stake in EP equipment to focus on joint
product development.

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“Asia-Pacific and Europe are the major demand generating regions for
forklifts on account of high population density and presence of fast
growing economies. Moreover, there is rising demand for new airports, sea
ports, road infrastructure in various countries, which is further
anticipated to push demand for forklifts across these regions. Factors like
booming e-commerce industry and technological advancements such as shift
towards battery driven forklifts for better efficiency, are further
contributing to the growth of global forklift market.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.



Global

Forklift Market

By Class Type, By Fuel Type, By Application Type, By Region,
Competition, Forecast & Opportunities, 2023


has evaluated the future growth potential of global forklift market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decision.
Besides, the report also identifies and analyzes the emerging trends along
with essential drivers, challenges and opportunities in global forklift
market.

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