Forklifts Market To Show 4.3% CAGR By 2028;

Pune, India, May 21, 2021 (GLOBE NEWSWIRE) – The world forklift market should reach 1, 908.6 thousand units by 2028, presenting a 4.3% CAGR during the forecast period. The market is expected to experience strong growth owing to the demand for material handling equipment in various regions. According to a report published by Fortune Business Insights, titled “Forklift Truck Market, 2021-2028”, the market was 1,384,300 units in 2020.

Request a sample copy of the report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/forklift-trucks-market-101541

Impact of COVID-19:

Steel industry disrupted to thwart growth amid pandemic

The severe impact on the steel industry has significantly reduced the growth of the market. According to the US steel industry, US steel production fell 12.7% year-over-year at the end of March 2020. Steel imports also fell explicitly in January and February 2020. This factor will have a negative impact on manufacturing facilities, thus impacting the market. The decline of automobiles, precision instruments and machinery has further affected the global market. In addition, industries such as machinery, automobile, office machinery, communication equipment have suffered unprecedented losses, which in turn can disrupt the forklift industry.

What does the report include?

The report provides a comprehensive overview of the global market. Fortune Business Insights provides a detailed analysis of the global market and highlights key aspects such as major product types, leading segment, and region with the highest growth potential. Further, the report appeals to several top companies that have generated substantial revenue in the forklift market in recent years and predicts the companies that are likely to become leaders in the years to come.

To learn more about the short and long term impact of COVID19 on this market,

Please visit: https://www.fortunebusinessinsights.com/industry-reports/forklift-trucks-market-101541

Driving factor:

Increase mining activities to help progress

The growing investment in research and development of high capacity forklifts has paved the way for the growth of companies operating in the global market. The increased adoption of e-commerce services and mining activities will fuel the demand for these trucks across the world. The report provides segmentation based on factors such as product types, applications, and regional demographics. Of all the end-use applications, Fortune Business Insights predicted that the manufacturing industry would likely experience the strongest growth during the forecast period due to strong demand for the product around the world.

Regional perspectives:

Strong demand from the construction industry to drive growth in Asia-Pacific

The Asia-Pacific region market is expected to experience the strongest growth in the coming years. The huge demand for these material handling equipment trucks in several industries such as construction, mining, and food and beverage will drive the market growth in Asia-Pacific. In addition, the adoption of state-of-the-art forklifts will increase the size of the market in the years to come. Fortune Business Insights reports that the Asia-Pacific market was 623,700 units in 2019 and is expected to become dominant during the forecast period. However, North America will likely experience the strongest growth in the coming years due to the presence of several well-known players in this region.

Talk to our analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/forklift-trucks-market-101541

Competitive landscape:

Toyota Material Handling holds the highest share

Among all the companies, Toyota Material Handling currently holds the highest share in the forklift market. This is due to a strong market brand, a large customer base and an impeccable research and development (R&D) unit. In addition to increasing the expansion of its business, the company also indulges in factors such as consumer safety and reducing product costs. Hyster-Yale Materials is another such company which has made a significant contribution to the increase in the global market. The company excels in connected device technology across the industry.

Key development:

July 2019: FLIR Systems has released Brickstream 3D Gen 2 people counting sensors. Brickstream 3D Gen 2 technology is integrated into the retailer’s analysis software to improve data accuracy and make intelligent business decisions.

The report lists the Main companies operating in the global market:

  • Toyota Industries Corporation (Japan)
  • Crown Equipment Corporation (United States)
  • Kion Group AG (Germany)
  • Hyster-Yale Materials Handling Inc. (United States)
  • Hyundai Heavy Industries (South Korea)
  • Mitsubishi Nichiyu Forklift Co., Ltd (Japan)
  • Jungheinrich AG (Germany)
  • Forklift Anhui (China)
  • Doosan industrial vehicle (United States)
  • Hangcha Group (China)
  • Komatsu Ltd. (Japan)
  • Godrej & Boyce Manufacturing (India)

Quick purchase – Forklift Market Research report: https://www.fortunebusinessinsights.com/checkout-page/101541

Main Table of Contents:

  • introduction
    • Definition, by segment
    • Research approach
    • Sources
  • summary
  • Market dynamics
    • Macro and micro economic indicators
    • Drivers, constraints, opportunities and trends
    • Impact of COVID-19
      • Short term impact
      • Long term impact
  • Competition landscape
    • Business strategies adopted by the main players
    • Consolidated SWOT analysis of the main players
    • Porter’s Five Forces Analysis
    • Government rules and regulations
    • Global Forklift Truck Market Share Analysis and Matrix, 2020
  • Key market information and strategic recommendations
  • Profiles of the main actors (Would be provided for 10 players only)
    • Overview
      • Key management
      • Headquarters etc.
    • Offers / business segments
    • Key details (Key details are subject to data availability in the public domain and / or on chargeable databases)
      • Employee size
      • Key financial data
        • Past and current income
        • Geographic share
        • Share of business segment
    • Recent developments
  • Answers to primary interviews
  • Annex / Appendix
    • Global Forklift Truck Market Size Estimates and Forecasts (Quantitative Data), by Segments, 2017-2028
      • By type (volume)
        • Class I
        • Class II
        • Class III
        • Class IV
        • Class V

TOC Continued…!

Request customization of this report: https://www.fortunebusinessinsights.com/enquiry/customization/forklift-trucks-market-101541

Take a look at the related research information:

Injection Molding Machine Market Size, share and COVID-19 impact analysis, by product type (plastic, metal, rubber, ceramic, others), by machine type (electric, hydraulic and hybrid), by clamping force (force from 0 to 200 tons, 201 to 500 Ton Force, and above 500 Ton Force), by end-use industry (packaging, automotive, electronics and telecommunications, healthcare, infrastructure, others) and regional forecast, 2020-2027

Modular construction market COVID-19 size, share and impact analysis, by type (permanent modular construction and relocatable modular construction), by application (commercial, healthcare, education and institutional, hospitality and others) and regional forecast, 2021-2028

Service Robotics Market Size, share and impact analysis of COVID-19, by type (professional, personal), by application (domestic, industrial / commercial) and by regional forecast, 2020-2027

Baggage Handling System Market Analysis of size, share and sector, by type (destination coded vehicle (DCV), conveyor), by technology (radio frequency identification (RFID), barcode), by application (airport, railway, marine) and regional forecasts, 2020-2027

Waterjet Cutting Machine Market Analysis of size, share and industry, by type (micro waterjet cutting machine and robotic waterjet cutting machine), by technology (pure and abrasive), by pressure range (less 4200 and 4200 and over), by pump type (direct drive pumps and hydraulic intensifier pumps), by industry (aerospace and defense, automotive, electronics, power and electrical, metal fabrication, rubber and plastic and others) and forecast regional, 2020-2027

About Us:

Fortune Business Insights ™ delivers expert business analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions to our clients, helping them meet the challenges specific to their business. Our goal is to equip our clients with global market intelligence, giving them a granular overview of the market in which they operate. Our reports contain a unique blend of tangible information and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use cutting-edge research tools and techniques to compile comprehensive market research, interspersed with relevant data.

Contact us:

Fortune Business Insights ™ Pvt. Ltd.

308, supreme headquarters,

Investigation n ° 36, Baner,

Pune-Bangalore Highway,

Pune – 411045, Maharashtra, India.

Call:

United States: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

E-mail: [email protected]

You can also contact us / follow us on:

Read the press release: https://www.fortunebusinessinsights.com/press-release/forklift-trucks-market-9298

About Clara Barnard

Clara Barnard

Check Also

Increase in the number of young female investors turning to the stock market during a pandemic

Financial planner and accountant Natasha Janssens is not surprised to see young people turning to …