Global Forklift Truck Market to Reach $95.51 Billion by 2032, Growing at a CAGR of 7.49% | Astute Analytica

The forklift truck market, valued at $49.86 billion in 2023, is expected to nearly double by 2032

CHICAGO, CA, UNITED STATES, September 12, 2024 /EINPresswire.com/ -- The global 𝐟𝐨𝐫𝐤𝐥𝐢𝐟𝐭 𝐭𝐫𝐮𝐜𝐤 𝐦𝐚𝐫𝐤𝐞𝐭, valued at $𝟒𝟗.𝟖𝟔 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑, is on a robust growth trajectory and is expected to reach a market valuation of $𝟗𝟓.𝟓𝟏 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐. This significant growth, representing a compound annual growth rate (𝐂𝐀𝐆𝐑) 𝐨𝐟 𝟕.𝟒𝟗% during the forecast period from 𝟐𝟎𝟐𝟒 𝐭𝐨 𝟐𝟎𝟑𝟐, is driven by advancements in automation, increased demand across various industries, and ongoing investments in warehouse infrastructure.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:- https://www.astuteanalytica.com/request-sample/forklift-truck-market

The forklift truck market is experiencing transformative changes due to the rising adoption of automation technologies and the expanding e-commerce sector, which demands more efficient and scalable warehouse solutions. Key market drivers include technological advancements in forklift designs, increased focus on energy-efficient models, and growing demand from industries such as manufacturing, logistics, and retail.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

𝐃𝐫𝐢𝐯𝐞𝐫: 𝐄𝐱𝐩𝐚𝐧𝐝𝐢𝐧𝐠 𝐌𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 𝐑𝐞𝐪𝐮𝐢𝐫𝐢𝐧𝐠 𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐝 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐚𝐧𝐝 𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭

The expansion of manufacturing industries is a key driver for the forklift truck market, necessitating enhanced logistics and supply chain management. As of 2023, the global manufacturing output stands at approximately $44 trillion, highlighting the scale and importance of this sector. In China, the manufacturing sector has seen significant growth, contributing around $4.8 trillion to the national economy. The automotive industry alone produced over 92 million vehicles globally in 2023, each requiring efficient logistics and supply chain operations. In the United States, the manufacturing sector supports around 12.8 million jobs, emphasizing the need for efficient material handling solutions.

The complexity of global supply chains is increasing, with over 1.2 million manufacturing companies operating worldwide. The demand for advanced logistics solutions is further driven by the growth of the electronics manufacturing industry, which produced approximately 1.5 billion smartphones in 2023. The aerospace sector is also expanding, with 43,000 commercial aircraft in operation globally, each supported by intricate supply chains. To meet these demands, the forklift market is evolving, with approximately 1.4 million units sold globally in the past year. The Asia-Pacific region leads in manufacturing, with over 600,000 forklifts sold in 2023. This growth is paralleled by the increase in warehouse construction, with over 230 million square feet of new warehouse space built globally last year, underscoring the need for efficient material handling equipment.

In addition, the market is witnessing heightened interest in electric and hybrid forklift trucks as companies seek to reduce their carbon footprint and operational costs. The ongoing shift towards sustainable practices is expected to further fuel market growth.

𝐅𝐨𝐫 𝐦𝐨𝐫𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐟𝐨𝐫𝐤𝐥𝐢𝐟𝐭 𝐭𝐫𝐮𝐜𝐤 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐧𝐝 𝐭𝐨 𝐚𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐜𝐨𝐧𝐭𝐚𝐜𝐭:- https://www.astuteanalytica.com/industry-report/forklift-truck-market

Key players in the forklift truck market are investing in research and development to introduce innovative solutions and stay ahead of the competition. As a result, the market is poised for substantial expansion, creating new opportunities for growth and development across the globe.

𝐓𝐨𝐩 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐅𝐨𝐫𝐤𝐥𝐢𝐟𝐭 𝐓𝐫𝐮𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭

• CLARK Material Handling Company
• Crown Gabelstapler GmbH & Co. KG
• Godrej & Boyce Manufacturing Company Limited
• Hyster-Yale Materials Handling, Inc.
• HD Hyundai Heavy Industries
• Jungheinrich AG
• KION GROUP AG
• Mitsubishi Forklift Trucks
• Toyota Industries Corporation
• Anhui Heli
• Other Prominent Players

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

𝐁𝐲 𝐏𝐨𝐰𝐞𝐫 𝐒𝐨𝐮𝐫𝐜𝐞

• IC Engine Powered
• Electric Powered

𝐁𝐲 𝐂𝐥𝐚𝐬𝐬

• Class 1
• Class 2
• Class 3
• Class 4
• Class 5
• Others

𝐁𝐲 𝐄𝐧𝐝 𝐔𝐬𝐞

• Retail & Wholesale
• Logistics
• Automotive
• Food Industry
• Others

𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧

• North America
o The U.S.
o Canada
o Mexico
• Europe

𝐨 𝐖𝐞𝐬𝐭𝐞𝐫𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

 U.K.
 Germany
 France
 Spain
 Italy
 Rest of Western Europe

𝐨 𝐄𝐚𝐬𝐭𝐞𝐫𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

 Poland
 Russia
 Rest of Eastern Europe

• 𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜

o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific

• 𝐌𝐢𝐝𝐝𝐥𝐞 𝐄𝐚𝐬𝐭 & 𝐀𝐟𝐫𝐢𝐜𝐚 (𝐌𝐄𝐀)

o UAE
o Saudi Arabia
o South Africa
o Rest of MEA

• 𝐒𝐨𝐮𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚

o Argentina
o Brazil
o Rest of South America

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/forklift-truck-market

𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:

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Aamir Beg
Astute Analytica
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