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Forklift Trucks Market Records a CAGR of 5.69%| Rapid growth in the construction sector to boost market growth| Technavio

NEW YORK, June 15, 2022 /PRNewswire/ -- Technavio has been monitoring the Forklift Trucks Market, operating under the global industrials market. The latest report on the Forklift Trucks Market estimates it to register a growth of USD 498.49 thousand units, at a CAGR of 5.69% during the forecast period. The report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Request Latest Sample Report

Technavio has announced its latest market research report titled Forklift Trucks Market by Class Type and Geography - Forecast and Analysis 2021-2025

Technavio's in-depth research has all your needs covered as our research reports include all foreseeable market scenarios. 

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Cargotec Corp., Crown Equipment Corp., CVS Ferrari Spa, Hyster-Yale Materials Handling Inc., Jungheinrich AG, KION GROUP AG, Mitsubishi Heavy Industries Ltd., Royal Terberg Group BV, SANY Group Co. Ltd., and Toyota Industries Corp. are among some of the major market participants.

Find additional highlights on the growth strategies adopted by vendors and their product offerings, Download our Sample Report.

Rapid growth in construction sector  has been instrumental in driving the growth of the market. However, Shortage of skilled operators might hamper the market growth.

Forklift Trucks Market: Segmentation

  • Type
  • Class V
  • Class III
  • Class I
  • Class II
  • Class IV
  • Geography
  • APAC
  • Europe
  • North America
  • South America

The class 1 segment will gain considerable market share in global forklift trucks. Forklift trucks of the class I type are becoming more popular in small warehouses in emerging economies such as Southeast Asia. With the rapid growth of the e-commerce retail market in Southeast Asia, major e-commerce retailers, such as Amazon and Alibaba Group Holding, are growing their footprint in countries like Singapore and Indonesia. As a result, the number of storage warehouses operating in the region has increased.

Download our latest Sample Report: to know additional highlights and key points on various market segments and their impact in coming years. 

Forklift Trucks Market: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The forklift trucks market report covers the following areas:

  • Forklift trucks market Size
  • Forklift trucks market Trends
  • Forklift trucks market Industry Analysis

This study identifies Fuel cell-powered forklift trucks as one of the prime reasons driving the Forklift trucks market growth during the next few years.

Forklift Trucks Market: Key Highlights

  • CAGR of the market during the forecast period
  • Detailed information on factors that will assist forklift trucks market growth during the next five years
  • Estimation of the forklift trucks market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the forklift trucks market
  • Analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of forklift trucks market, vendors

Do reach out to our analysts for more customized reports as per your requirements. Speak to our Analyst now!  

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Forklift Trucks Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 5.69%

Market growth 2020-2024

$ 498.49 th units

Market structure


YoY growth (%)


Regional analysis

APAC, Europe, North America, South America, APAC, Europe, North America, and South America

Performing market contribution

APAC at 47%

Key consumer countries

China, US, Germany, Japan, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Cargotec Corp., Crown Equipment Corp., CVS Ferrari Spa, Hyster-Yale Materials Handling Inc., Jungheinrich AG, KION GROUP AG, Mitsubishi Heavy Industries Ltd., Royal Terberg Group BV, SANY Group Co. Ltd., and Toyota Industries Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Class type

  • Market segments
  • Comparison by Class type
  • Class III - Market size and forecast 2020-2025
  • Class V - Market size and forecast 2020-2025
  • Class I - Market size and forecast 2020-2025
  • Class II - Market size and forecast 2020-2025
  • Class IV - Market size and forecast 2020-2025
  • Market opportunity by Class type

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Cargotec Corp.
  • Crown Equipment Corp.
  • Hyster-Yale Materials Handling Inc.
  • Jungheinrich AG
  • Mitsubishi Heavy Industries Ltd.
  • Royal Terberg Group BV
  • SANY Group
  • Toyota Industries Corp.


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


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