NEW YORK, July 27, 2022 /PRNewswire/ — The forklift trucks market size is set to grow by 498.49 thousand units from 2019 to 2024, progressing at a CAGR of 5.69% according to the latest market report by Technavio. Technavio categorizes the forklift trucks market as a part of the global construction machinery and heavy trucks market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the global forklift trucks market during the forecast period.
Forklift trucks market 2020-2024: Scope
Our forklift trucks market report covers the following areas:
Forklift trucks market 2020-2024: Vendor Analysis
The global forklift truck market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.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 some of the major market participants.
- Cargotec Corp. – The company offer a wide range of forklift trucks such as light electric forklift truck, medium electric forklift truck, light forklift truck, and others.
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Forklift trucks market 2020-2024: Market Dynamics
- Drivers: The rapid growth in the construction sector, rapid growth in e-commerce retail & the high growth potential in emerging markets will offer immense growth opportunities.
- Challenges: The shortage of skilled operators, the high initial investment and maintenance costs & stringent emission regulations will challenge the growth of the market participants.
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Forklift trucks market 2020-2024: Segmentation Analysis
- Type
- Class V
- Class III
- Class I
- Class II
- Class IV
- Revenue Generating Segment – The global forklift trucks market share growth by the class 1 segment will be significant during the forecast period. The class I type forklift trucks are finding increased application in small warehouses in emerging economies such as countries in South East Asia. With the rapid growth of the e-commerce retail industry in South-East Asia, several vendors engaged in e-commerce retail, such as Amazon and Alibaba Group Holding, are expanding their presence across countries such as Singapore and Indonesia. This has led to an increase in the number of storage warehouses operating in the region.
- Geography
- APAC
- Europe
- North America
- South America
- Regional Highlights – 47% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the global forklift trucks market in APAC. Market growth in this region will be faster than the growth of the market in regions. The rapid growth in the construction sector will facilitate the global forklift truck market growth in APAC over the forecast period.
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Get ready to achieve excellent business outcomes from this exclusive Forklift Trucks Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as –
- What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?
- What is the current trend taking place in the market space?
- Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
- What are market drivers, restraints, and challenges impacting demand & growth of the market?
- Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?
The competitive scenario provided in the Forklift Trucks Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don’t wait, Make a strategic approach & boost your business goals with our Forklift Trucks Market Forecast Report – Buy Now!
Related Reports:
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Forklift Trucks Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2019 |
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Forecast period |
2020-2024 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.69% |
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Market growth 2020-2024 |
498.49 thousand units |
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Market structure |
Concentrated |
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YoY growth (%) |
5.00 |
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Regional analysis |
APAC, Europe, North America, South America, APAC, Europe, North America, and South America |
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Performing market contribution |
APAC at 47% |
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Key consumer countries |
China, US, Germany, Japan, and Canada |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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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. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, |
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Customization purview |
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
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
- The 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.
- CVS FERRARI Spa
- Hyster-Yale Materials Handling Inc.
- Jungheinrich AG
- KION GROUP AG
- Mitsubishi Heavy Industries Ltd.
- Royal Terberg Group BV
- SANY Group
- Toyota Industries Corp.
Appendix
- 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 provide 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, covering 800 technologies, spanning 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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