Forklift Trucks Market Size

Forklift Trucks Market size was valued at USD 83416.09 Million in 2023 and is poised to grow from USD 94427.01 Million in 2024 to USD 113200 Million by 2032, growing at a CAGR of 13.2% during the forecast period (2025-2032).

'Toyota Industries Corporation ', 'KION Group AG ', 'Jungheinrich AG ', 'Mitsubishi Heavy Industries Group ', 'Crown Equipment Corporation ', 'Hyster-Yale Materials Handling Inc. ', 'Hangcha Group Co. ', 'Doosan Industrial Vehicle Co., Ltd. ', 'Anhui Heli Co., Ltd. ', 'Komatsu Ltd. ', 'Clark Material Handling Company ', 'Hyundai Heavy Industries ', 'Lonking Holdings Limited ', 'Manitou Group ', 'NACCO Industries, Inc. ', 'Godrej & Boyce Manufacturing Co. Ltd. ', 'Tailift Group ', 'EP Equipment ', 'UniCarriers Corporation ', 'Kalmar Global'

Forklift trucks are in significantly greater demand from a variety of manufacturing businesses in all sectors of the economy. In the post-pandemic world, many manufacturing companies are automating their processes. The market for forklift trucks is growing as a result of other factors. These include increased productivity, the fact that more individuals are comfortable operating forklift trucks, and the fact that forklift trucks have significantly improved workplace safety in the manufacturing industry.

In developed countries, electric forklift trucks are becoming more common. Due to their expanding applications and popularity, electric-powered forklift trucks have a lot of potential given the quick improvement in technology. Such electrically-powered forklift trucks can load and unload large items from the ground level or from docks, making them perfect for usage in indoor settings.

North America held the largest share of the Forklift Trucks Market. due to the region's better infrastructure and growing industry. Additionally, the market for forklift trucks is anticipated to grow in value due to the quick uptake of forklifts across several industries. Due to the rising need for automation in emerging nations, it is anticipated that the Asia Pacific region would have significant and steady growth in terms of market share throughout the projection period. Further driving market expansion in this region is projected to be factors like an improved economy and rising urbanisation. About 83% of the market in North America is controlled by the United States. The U.S. is anticipated to see good sales growth during the course of the projected period. The existence of significant players in the U.S. is what causes this anticipated rise. Players in this market are making significant investments in cutting-edge forklift trucks rather than traditional forklift trucks.