Scope of the Study
A forklift is defined as a powerful tool that is used to lift and move materials over short distances. It is used in various applications such as factories, warehouses, stations, ports, airports, distribution centers and others. It is available in various types such as counterbalance forklift trucks, walkie trucks, reach trucks, off-road forklifts, truck, mounted forklifts, articulated trucks and others.
The market study is being classified by Type (Counterbalance Forklift Trucks, Walkie Trucks, Reach Trucks, Off-Road Forklifts, Truck-Mounted Forklifts, Articulated Trucks and Others), by Application (Factories, Warehouses, Stations, Ports, Airports, Distribution Centers and Others) and major geographies with country level break-up.
Komastu Ltd. (Japan), Toyota Industries Corporation (Japan), KION Group AG (Germany), Hyster-Yale Material handling Inc. (United States), Jungheinrich Group (Germany), Mitsubishi Nichiyu Forklift Corporation (Japan), Crown Equipment Corporation (United Kingdom), The Raymond Corporation (United States), Anhui HELI Co., Ltd (China) and Kalmar Global (Finland) are some of the key players profiled in the study.
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Forklift Truck market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Forklift Truck market by Type, Application and Region.
On the basis of geography, the market of Forklift Truck has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- In the last few years, there is a significant demand for a forklift truck. For instance, in 2019, as per an article published by World Integrated Trade Solution, shipments of forklift trucks in the APAC region rise from 0.55 million to 0.63 million with an increase of around 13.4%. Therefore, it will drive the market growth.
- Technology Advancement in Electric Forklift
- Some of the major incidents such as worker on foot are struck by the forklift, the person falls from a forklift and others are some of the major factors which act as restrain for market growth.
- Increasing Demand for Battery-Operated Forklifts
- Issue related to High Cost of Battery Operated and Fuel Cell Forklift
Market Leaders and their expansionary development strategies
In June 2016, Kion Group AG (Germany) Company has acquired Dematic (United States) Company, which is an automation provider as well as a specialist in supply chain optimization, by purchasing shares worth more than USD 2.1 billion. Hence, this acquisition will help in strengthening the position of the company.
According to the Occupational Safety and Health Administration, “Protecting Young Workers: Prohibition Against Young Workers Operating Forklifts. OSHA Safety and Health Information Bulletin (SHIB), (September 30, 2003). Informs employers that youth employment regulations”. Hence, it may act as a hamper for market growth.
Key Target AudienceForklift Truck Companies, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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