Forklift Market Outlook Over 2022-2027 | Top Vendors Analysis, Growth Drivers and Geographical Analysis
Forklift Market to value $90 Billion by 2027. The industry is witnessing an escalating demand for counterbalance forklifts that lift an extensive range of weights up to nearly 48 tons. Owing to their versatile nature, these machines can be operated in both indoor as well as outdoor environments. The rising product demand is estimated to drive the forklift industry as these machines can be powered by means of diesel, gas, and also with the help of batteries.
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One such market participant is Cargotec’s subsidiary, Kalmar, which provided an energy-saving guarantee for the company’s electric forklift trucks in October 2020. The guarantee is similar to the one available on the company’s diesel-powered machines comprising the Kalmar Eco Reachstacker and delivers a higher level of estimation for clients by enabling them to easily evaluate the operational costs of switching to electric machines.
Besides, these forklifts offer a capacity range of 2,000 to 6,000 pounds. They are also widely employed across storage units, warehouses, and distribution units to cater to material handling requirements.
Industry share of counterbalance forklifts will record a significant value through the coming years owing to their increasing demand to safely lift an extensive range of weights up to 48 tons. These trucks are gaining prominence for their versatility and abilities to function in outdoor and indoor environments. They can be powered with gas, diesel as well as batteries.
In addition, counterbalanced forklifts are available in a wide range of capacities ranging from 2,000 to 6,000 pounds and are used in warehouses, storage units, and distribution units for sufficing the requirements of material handling. Electric-powered counterbalance forklifts are experiencing a surging demand as they ensure clean operations with zero emission.
The Middle East & Africa forklift market is anticipated to exhibit lucrative growth in opportunities due to the expanding industrial sector in the region. Several government organizations in Saudi Arabia and the UAE are launching initiatives that are favorable for the growth of the industrial revolution.
The market for forklifts will be significantly bolstered by a consistent requirement for automated machines to replace traditional manual material handling methods. The deployment of cutting-edge technologies, like RFID and IoT into the forklift machines is assisting operators to track the exact location of vehicles and remotely control them through software. These lift trucks also allow facility owners to accelerate material handling as well as to easily place various objects at large heights in racks.
The industrial sector in the UAE accounted for almost 11 to 14 per cent share of the country’s GDP. Recognizing this, the government has embarked on a concerted effort for the sustenance and development of a prolific industrial and manufacturing sector in the country. Such initiatives are expected to encourage industry owners to replace conventional manual material handling techniques with new automated solutions.
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Some Point from Table of Contents:
Chapter 6 Forklift Market, By Fuel Type (Revenue & Shipment)
6.1 Key trends by fuel type
6.2 Diesel
6.2.1 Market estimates and forecast, 2017 – 2027
6.3 Electric
6.3.1 Market estimates and forecast, 2017 – 2027
6.4 Gasoline & LPG/CNG
6.4.1 Market estimates and forecast, 2017 – 2027
Chapter 7 Forklift Market, By Class (Revenue & Shipment)
7.1 Key trends by class
7.2 Class I
7.2.1 Market estimates and forecast, 2017 – 2027
7.3 Class II
7.3.1 Market estimates and forecast, 2017 – 2027
7.4 Class III
7.4.1 Market estimates and forecast, 2017 – 2027
7.5 Class IV
7.5.1 forklift market estimates and forecast, 2017 – 2027
7.6 Class V
7.6.1 Market estimates and forecast, 2017 – 2027
7.7 Others
7.7.1 forklift market estimates and forecast, 2017 – 2027
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