DUBLIN, Nov. 16, 2022 /PRNewswire/ — The “Global Forklift Market by Class (Class 1, 2, 3, 4/5), Propulsion (Electric, ICE), Battery Type (Li-Ion, Lead Acid), Tonnage Capacity (<5, 5-10, 11-36, >36 Tons), Operation, Application, Tire & Product Type, End Use Industry and Region – Forecast to 2027” report has been added to ResearchAndMarkets.com’s providing.
The world forklift market measurement is projected to develop from USD 58.9 billion in 2022 to USD 84.5 billion by 2027, at a CAGR of seven.5% over the identical interval.
E-Commerce business to gasoline the worldwide forklift market throughout the forecast interval
The demand for forklifts within the e-commerce business phase is projected to develop at the very best CAGR throughout the forecast interval. Rapidly altering buyer calls for, rising desire for on-line purchasing and surging demand for shorter supply occasions are the important thing causes for the expansion of the e-commerce business.
The rising fierceness of competitors amongst on-line retailing corporations has elevated the demand for environment friendly achievement facilities and warehouses. The numerous benefits of the forklifts together with the comparatively low preliminary prices among the many materials dealing with tools, elevated productiveness and effectivity towards handbook materials dealing with operations and diminished labor bills are driving the warehouses to incorporate the forklifts of their materials dealing with operations.
This enhance within the productiveness and effectivity tremendously helps the retailers to meet the rising client demand in a well timed method. Such warehouses choose emission free and noiseless operations. Thus, the rising variety of warehouses additionally enhance the demand for the sustainable intralogistics options equivalent to the electrical forklifts.
The e-commerce business within the Asia Pacific area is quickly rising, with many main corporations establishing new warehouses and achievement facilities. This makes the Asia Pacific the biggest marketplace for forklifts within the e-commerce business. It is projected that the Asia Pacific will lead the market with a CAGR of 8.7% throughout the forecast interval.
Class 3 forklifts are projected to lead the forklift market throughout the forecast 12 months
Class 3 forklifts are estimated to develop at the quickest progress fee throughout the forecast interval owing to the extensive utilization of Class 3 forklifts in warehouse and manufacturing operations globally. These electrical low-lift pedestrian pallet vehicles produce other benefits, together with emission-free and noise-free operation, comparatively low preliminary value, and ease of upkeep. The Asia Pacific area is projected to be the biggest marketplace for Class 3 forklifts throughout the forecast interval.
This is primarily due to the higher variety of SMEs on this area. Class 3 forklifts usually have a decrease preliminary value, and the provision of operators for Class 3 forklifts is usually extra. Also, these forklifts have comparatively decrease upkeep prices. Due to these elements, SMEs choose Class 3 forklifts. Class 4/5 forklifts are the subsequent broadly used forklifts globally.
Europe is anticipated to be the second largest forklifts market by 2027
According to the writer evaluation, Europe is projected to be the second largest forklift market by 2027. This is primarily owing to elements equivalent to strict employee security codes, excessive wages, and the rising value of actual property, demanding extra environment friendly materials dealing with options. Brexit has elevated the necessity for localized distribution facilities in Europe. The want for swift order achievement has additionally elevated due to elevated e-commerce gross sales. Europe has been essentially the most developed marketplace for automation in warehousing and materials dealing with processes.
High labor prices, scarcity of area, and stringent employee security guidelines are among the main elements main to the excessive penetration of automation applied sciences within the European materials dealing with ecosystem. Also, the pharmaceutical business would drive the adoption of forklifts in Europe. Forklifts are a main a part of automated materials dealing with programs, and the area has seen fast improvement on this know-how.
Germany is anticipated to register the very best CAGR of 8.3% within the European forklift market throughout the forecast interval. The rising variety of distribution facilities within the UK, lowering the price of warehouse automation in Germany, and the expansion of the logistics business in France are anticipated to drive the demand for forklifts in Europe. The European forklift market is projected to develop at a CAGR of seven.1% throughout the forecast interval.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Forklift Market
4.2 Market, by Operation
4.3 Market, by Propulsion
4.4 Market, by Tonnage Capacity
4.5 Market, by Product Type
4.6 Market, by Tire Type
4.7 Market, by Application
4.8 Market, by Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Stringent Emission Norms and Rising Demand for Sustainable Intralogistics
5.2.1.2 Rapid Growth in E-Commerce and Warehousing Sector
5.2.1.3 Increasing Demand for Lean and Automated Warehouses to Increase Operational Efficiency
5.2.2 Restraints
5.2.2.1 Increase in Third-Party Logistics (3Pl) Services
5.2.2.2 Increasing Demand for Stacker Cranes
5.2.3 Opportunities
5.2.3.1 Evolution of Refurbished and Rental Forklifts
5.2.3.2 Modular Solutions to Optimize Customer Productivity
5.2.3.3 Development of Autonomous, Connected, and Fleet Management Solutions
5.2.4 Challenges
5.2.4.1 Risks Related to Accidents Involving Forklifts
5.2.4.2 Higher Initial Cost of Electric Forklifts
5.2.4.3 High Integration and Technology Cost of Autonomous Forklifts
5.3 Scenarios:Market
5.3.1 Realistic Scenario
5.3.2 Pessimistic Scenario
5.3.3 Optimistic Scenario
5.4 Pricing Analysis
5.4.1 By Equipment Type and Region
5.5 Porter’s Five Forces Analysis
5.6 Trends/Disruptions Impacting Forklift Manufacturers
5.7 Case Study
5.7.1 Use Case 1: Kellogg’s Manchester Site
5.7.2 Use Case 2: Panasonic Energy Belgium Nv
5.7.3 Use Case 3: Implementing Dematic’s Autonomous Forklift to Reduce Delivery Time at L’Oreal
5.7.4 Use Case 4: Aer Manufacturing
5.7.5 Use Case 5: Cwt Commodities
5.7.6 Use Case 6: Montgomery Waters
5.7.7 Use Case 7: Oxford Cold Storage
5.8 Market Ecosystem
5.9 Supply Chain Analysis
5.10 Patent Analysis
5.11 Trade Statistics
5.12 Regulatory Framework
5.13 Technology Analysis
5.14 Key Conferences and Events in 2022-2023
5.15 Key Stakeholders and Buying Criteria
6 Forklift Market, by Propulsion
6.1 Introduction
6.1.1 Research Methodology
6.1.2 Assumptions
6.1.3 Industry Insights
6.2 Electric
6.2.1 Focus on Zero-Emission Working Environment to Drive Demand
6.3 Internal Combustion Engine (Ice)
6.3.1 Increase in Heavy-Duty Operations to Drive Demand
6.3.2 Gasoline
6.3.3 Diesel
6.3.4 Alternate Fuels
7 Forklift Market, by Tonnage Capacity
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions
7.1.3 Industry Insights
7.2 Below 5 Tons
7.2.1 Easy Operational Flexibility in Compact Warehouses to Drive Demand
7.3 5-10 Tons
7.3.1 Growing Electric Infrastructure to Drive Demand
7.4 11-36 Tons
7.4.1 Usage in Heavy-Duty Operations to Drive Demand
7.5 Above 36 Tons
7.5.1 Massive Material Handling Operations Demand Forklifts with Capacity Above 36 Tons
8 Forklift Market, by End-Use Industry
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
8.2 Third-Party Logistics (3Pl)
8.2.1 Need for Safe and Speedy Storage to Drive Demand
8.3 Food and Beverage
8.3.1 Need to Reduce Operational Costs to Drive Demand
8.4 Automotive
8.4.1 Need for Efficient Inventory Management to Drive Demand
8.5 E-Commerce
8.5.1 Need to Optimize Warehousing Operations to Drive Demand
8.6 Aviation
8.6.1 Increasing Manufacturing and Assembly Operations to Drive Demand
8.7 Paper and Pulp
8.7.1 Need for Removal of Bottlenecks to Drive Demand
8.8 Chemical
8.8.1 Need to Ensure Workplace Safety of Employees and Manage Workflow Effectively to Drive Demand
8.9 Healthcare
8.9.1 Increasing Need for Automated Warehousing Operations to Drive Demand
8.10 Semiconductors and Electronics
8.10.1 Need for Cleanroom Warehousing Process to Drive Demand
8.11 Metals and Heavy Machinery
8.11.1 Need for Efficient Operations to Drive Demand
8.12 Others
9 Forklift Market, by Class
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions
9.1.3 Industry Insights
9.2 Class 1
9.2.1 Increasing Demand for Battery Electric Forklifts to Drive Market
9.3 Class 2
9.3.1 Growing Demand for More Storage in Warehouses to Drive Adoption of Narrow Aisle Forklifts
9.4 Class 3
9.4.1 Usage in Moving Loads to Staging Area to Drive Demand
9.5 Class 4/5
9.5.1 Increasing Need for Ice Engine Forklifts to Drive Demand
10 Forklift Market, by Operation
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions
10.2 Manual
10.2.1 Low Initial Cost and Ease of Integration to Drive Demand
10.3 Autonomous
10.3.1 Growing Focus on Automation in Industries for Increasing Productivity to Drive Demand
11 Forklift Market, by Application
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions
11.1.3 Industry Insights
11.2 Indoor
11.2.1 Growth of Global E-Commerce Industry to Drive Demand
11.3 Outdoor
11.3.1 Growing Need for Forklifts to Operate in Rough Terrains to Drive Demand
11.4 Indoor and Outdoor
11.4.1 Increasing Need for Forklifts That Can be Used for Dual Purposes to Drive Demand
12 Forklift Market, by Battery Type
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions
12.1.3 Industry Insights
12.2 Lithium-Ion
12.2.1 High Energy Density and Longer Battery Backup Over Other Batteries to Drive Demand
12.3 Lead-Acid
12.3.1 Large Current Capability, High Tolerance for Overcharging, and Low Manufacturing Cost to Drive Demand
13 Forklift Market, by Tire Type
13.1 Introduction
13.1.1 Research Methodology
13.1.2 Assumptions
13.1.3 Industry Insights
13.2 Cushion
13.2.1 Growth of Global Warehousing Industry to Drive Demand
13.3 Pneumatic
13.3.1 Increasing Use of Forklifts in Outdoor Applications to Drive Demand
14 Forklift Market, by Product Type
14.1 Introduction
14.1.1 Research Methodology
14.1.2 Assumptions
14.1.3 Industry Insights
14.2 Warehouse
14.2.1 Ability to Maneuver in Narrow Spaces in Warehouses to Drive Demand
14.3 Counterbalance
14.3.1 Growing Need for Stable Heavy Material Handling Operations to Drive Demand
15 Forklift Market, by Region
16 Recommendations
16.1 Asia-Pacific to Dominate Forklift Market
16.2 E-Commerce Expected to be Key Focus for Manufacturers
16.3 Conclusion
17 Competitive Landscape
18 Company Profiles
18.1 Key Players
18.1.1 Toyota Industries Corporation
18.1.2 Kion Group Ag
18.1.3 Mitsubishi Logisnext Co. Ltd.
18.1.4 Jungheinrich Ag
18.1.5 Hyster-Yale Materials Handling
18.1.6 Clark Material Handling Company (Cmhc)
18.1.7 Hyundai Construction Equipment Co., Ltd.
18.1.8 Komatsu
18.1.9 Kalmar
18.1.10 Cat Lift Trucks
18.2 Additional Players
18.2.1 Anhui Heli Co., Ltd.
18.2.2 Crown Equipment Corporation
18.2.3 Doosan Industrial Vehicle
18.2.4 Godrej Material Handling (Godrej & Boyce Manufacturing Co. Ltd.)
18.2.5 Ep Equipment
18.2.6 Lonking Machinery Co., Ltd.
18.2.7 Linde Material Handling
18.2.8 Bobcat Company
18.2.9 Hangcha
18.2.10 Konecranes
18.2.11 Combilift
18.2.12 Vallee
18.2.13 Narrow Aisle Inc.
18.2.14 Manitou Group
18.2.15 Hoist Material Handling
19 Appendix
For extra details about this report go to https://www.researchandmarkets.com/r/sr7jp4
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