What is Global Electric Forklift Market?
The Global Electric Forklift Market is a comprehensive study of the current trends, growth indicators, and market dynamics of the electric forklift industry worldwide. Electric forklifts are essentially powered industrial trucks used to lift and move materials over short distances. They are widely used in various industries such as warehousing, manufacturing, and construction. The global market for these machines is growing at a significant pace due to the increasing demand for efficient and eco-friendly equipment in material handling operations. The market was valued at US$ 21120 million in 2022 and is projected to reach US$ 31910 million by 2029, growing at a compound annual growth rate (CAGR) of 6.0% during the forecast period 2023-2029.
Electric counterbalanced forklift, Electric ride-type warehouse forklift, Electric walk-in warehouse forklift in the Global Electric Forklift Market:
The Global Electric Forklift Market is segmented based on the type of forklifts, which includes electric counterbalanced forklifts, electric ride-type warehouse forklifts, and electric walk-in warehouse forklifts. Electric counterbalanced forklifts are the most common type of forklifts used in various industries. They are designed to counterbalance the load being lifted, hence the name. Electric ride-type warehouse forklifts are designed for indoor use in warehouses. They are compact, easy to maneuver, and ideal for lifting pallets and heavy loads. Electric walk-in warehouse forklifts, on the other hand, are walk-behind forklifts that are perfect for small warehouses or tight spaces. They are easy to operate and can lift heavy loads to a certain height. The top 3 players in the market hold about 40% of the global shares. Europe is the leading market for electric forklifts, accounting for about 50% of the global market. The electric walk-in warehouse forklift is the main type, holding about 60% of the market share.
Warehouses, Factories, Distribution Centers, Others in the Global Electric Forklift Market:
The Global Electric Forklift Market finds its application in various areas such as warehouses, factories, distribution centers, and others. Warehouses are the primary users of electric forklifts, accounting for about 50% of the market share. These machines are used in warehouses for lifting and moving heavy goods, stacking pallets, and loading and unloading trucks. Factories also use electric forklifts for similar purposes. They are used to move raw materials, finished goods, and other heavy items within the factory premises. Distribution centers use electric forklifts for loading and unloading goods, stacking pallets, and moving goods from one place to another. Other areas where electric forklifts are used include construction sites, ports, and airports.
Global Electric Forklift Market Outlook:
In conclusion, the Global Electric Forklift Market is growing at a steady pace, driven by the increasing demand for efficient and eco-friendly material handling equipment. The market is dominated by a few key players, with Europe being the leading market. The electric walk-in warehouse forklift is the most popular type, and warehouses are the main application area. The market is expected to reach US$ 31910 million by 2029, growing at a CAGR of 6.0% during the forecast period 2023-2029.
| Report Metric | Details |
| Report Name | Electric Forklift Market |
| Accounted market size in 2022 | US$ 21120 in million |
| Forecasted market size in 2029 | US$ 31910 million |
| CAGR | 6.0% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Toyota, Kion, Jungheinrich, Mitsubishi Logisnext, Hyster-Yale, Crown Equipment, Anhui Heli, Hangcha, Doosan Corporation Industrial Vehicle, Clark Material Handling, Komatsu, Hyundai Heavy Industries, Combilift, Lonking, EP Equipment, Hubtex Maschinenbau, Paletrans Equipment, Godrej & Boyce |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
