DUBLIN, Aug. 19, 2022 /PRNewswire/ -- The "Forklift Truck Market by Power Source, by Class, and by End User - Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.

Market Definition:
At an estimated value of over USD 2.06 billion in 2021, the global forklift truck market is predicted to thrive at a CAGR of 9.5% to be valued at USD 4.65 billion. Forklift trucks are powered vehicles designed to move or carry heavy objects over a limited distance. Adoption of forklift trucks is popular among industries affiliated with the loading and unloading of goods.

These vehicles are commonly used in dockyards, warehouses, and recycling factories among others. These vehicles are used with some attachments such as platforms and grippers for efficient handling of goods and are classified based on their weight bearing capacity.

 Market Dynamics and Trends
Rising investments by the market players is expected to drive the market growth. Recent developments in the e-commerce business have created a need for bulk warehousing, which in turn has influenced the growth of forklift truck market. Advantages offered by forklift trucks such as time saving and increased efficiency are also expected to boost their adoption in various industries.

Other benefits such as reduced chances of accidents and injuries related to forklifts on work site and rising demand for easy movement and organization of goods are expected to add additional revenue to the forklift truck market. Moreover, technological advancements coupled with the development of infrastructure are expected to further influence market growth. However, high cost of forklift trucks is anticipated to hamper the market growth within the forecast period.

KEY MARKET SEGMENTS:
Global forklift truck market- By power source

• IC powered
• Electric powered

Global forklift truck market - By class

• Class 1
• Class 2
• Class 3
• Class 4
• Class 5
• others

Global forklift truck market - By end use

• Retail and wholesale
• Logistics
• Automotive
• Food industry
• Others

Global forklift truck market - by geography

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• UK
• Italy
• Rest of Europe
• Asia-Pacific
• Japan
• China
• Malaysia
• Australia
• Rest of Asia-Pacific
• RoW
• Latin America
• Middle East
• Africa

Market Dynamics
Drivers

• Rise in Investment Across the Infrastructure Development
• Expansion of E-Commerce Industry
• Benefits Offered by Forklift Trucks

Restraints

• High Cost and Safety Issues Associated With Forklift Trucks

Opportunities

• Emergence & Proliferation of Hydrogen Fuel Cell Forklifts

Key Topics Covered:

1. Introduction

2. Forklift Truck Market - Executive Summary

3. Market Overview

4. COVID-19 Impact Analysis

5. Market Share Analysis

6. Global Forklift Truck Market, by Class Type

7. Global Forklift Truck Market, by Product

8. Global Forklift Truck Market, by Engine

9. Global Forklift Truck Market, by End-user

10. Global Forklift Truck Market, by Region

11. Company Profiles

 Companies Mentioned

• Crown Equipment Corporation
• EP Equipment
• Hangcha
• Hyster-Yale Materials Handling, Inc.
• Jungheinrich AG
• Kion Group AG
• Komatsu Ltd
• Lonking Machinery Co., Ltd.
• Mitsubishi Logisnext Co., Ltd.
• Toyota Industries Corporation

For more information about this report visit https://www.researchandmarkets.com/r/xez8rp

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SOURCE Research and Markets