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Middle East and Africa Forklift Truck Market

Publisher BlueWeave Consulting
Published Jul 03, 2023
Length 260 Pages
SKU # BLWC18132041

Description

Middle East and Africa Forklift Truck Market - By Power Source (IC Engine Powered, Electric Powered); By Class (Class 1, Class 2, Class 3, Class 4); By End Use (Retail & Wholesale, Logistics, Automotive, Food Industry); By Country (Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, Rest of MEA), Trend Analysis, Competitive Landscape & Forecast, 2019–2029


Middle East and Africa Forklift Truck Market Size Set to Reach USD 3.4 Billion by 2029

Middle East and Africa forklift truck market is flourishing due to rapid industrialization, increasing number of construction & infrastructure projects, thriving e-commerce, growing logistics and warehousing sectors, and the need for efficient material handling solutions to enhance productivity and operational efficiency.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Middle East and Africa forklift truck market size at USD 2,546.36 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Middle East and Africa forklift truck market size to grow at a CAGR of 4.50% reaching a value of USD 3,427.79 million by 2029. Freight and logistics are the administration and transportation of commodities from one location to another. It covers, among other things, warehousing, inventory management, packing, shipping, and distribution. As it enables the effective delivery of commodities across supply chains, the industry is important to global trade. Freight and logistics companies utilize advanced technology and methods to optimize routes, save costs, and enhance delivery timelines. This sector's important stakeholders include shipping lines, air cargo carriers, trucking companies, and third-party logistics providers. As e-commerce and international trade flourish, the freight and logistics industry is evolving and adapting to meet the growing expectations of businesses and customers. Hence, the growing logistics industry is expected to be a major growth driver for the Middle East and Africa forklift truck market during the period in analysis.

Middle East and Africa Forklift Truck Market – Overview


A forklift truck, commonly known as a forklift, is a powerful industrial vehicle used primarily for lifting and moving heavy loads. It is equipped with two horizontal forks that can be raised and lowered, enabling it to pick up and transport materials within warehouses, construction sites, and other commercial environments. Forklifts are designed to handle various types of goods, including pallets, crates, and containers. They are available in different sizes and configurations to accommodate specific lifting capacities and maneuverability requirements. Forklifts are operated by skilled operators and are essential tools for efficient material handling, contributing to increased productivity and streamlined logistics in many industries.

Impact of COVID-19 on Middle East and Africa Forklift Truck Market

The Middle East and Africa forklift truck market encountered significant setbacks due to the COVID-19 pandemic. The widespread disruptions caused by the health crisis adversely affected the region's industrial sector, hampering the demand for forklift trucks. Supply chain disruptions, labor shortages, and reduced manufacturing activities resulted in diminished sales and production levels. Strict lockdown measures, travel restrictions, and economic uncertainties further added to the market's challenges. As businesses gradually recover and adapt to the new normal, the Middle East and Africa forklift truck market faces a slow recovery path, necessitating innovative strategies and industry collaborations to overcome the COVID-19 impact and revitalize the market's growth.

Middle East and Africa Forklift Truck Market – By Class

On the basis of class, the Middle East and Africa forklift truck market is divided into Class 1, Class 2, Class 3, and Class 4 segments. Each class typically represents a different type of forklift truck and is suited for specific applications. Class 1 refers to electric motor rider trucks, Class 2 includes electric motor narrow aisle trucks, Class 3 consists of electric motor hand trucks, and Class 4 encompasses internal combustion engine trucks. The market dynamics and growth potential for each segment may vary based on factors such as regional demand and industrial requirements.

Competitive Landscape

Middle East and Africa forklift truck market is fiercely competitive. Major companies in the market include Toyota Industries Corporation, KION Group AG, Jungheinrich AG, Crown Equipment Corporation, Hyster-Yale Materials Handling Inc., Hangcha Group Co., Mitsubishi Forklift Trucks, Doosan Industrial Vehicles Co. Ltd, Caterpillar Inc., Anhui Heli, Komatsu Ltd, and Clark Material Handling Company Inc. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Middle East and Africa forklift truck market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Middle East and Africa Forklift Truck Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Middle East and Africa Forklift Truck Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Table of Contents

260 Pages
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Executive Summary
3. Middle East & Africa Forklift Truck Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Growth Drivers
3.2.1.1. Growing Expansion of Industrialization and Warehousing
3.2.1.2. Growth in E-commerce
3.2.2. Restraints
3.2.2.1. High Initial Investment
3.2.3. Opportunities
3.2.3.1. Advancements in Technology and Automation
3.2.4. Challenges
3.2.5. Safety Concerns and Training Requirement
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. Middle East & Africa Forklift Truck Market Overview
4.1. Market Size & Forecast, 2019–2029
4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
4.2.1. By Power Source
4.2.1.1. IC Engine Powered
4.2.1.2. Electric Powered
4.2.2. By Class
4.2.2.1. Class 1
4.2.2.2. Class 2
4.2.2.3. Class 3
4.2.2.4. Class 4
4.2.2.5. Others
4.2.3. By End Use
4.2.3.1. Retail & Wholesale
4.2.3.2. Logistics
4.2.3.3. Automotive
4.2.3.4. Food Industry
4.2.3.5. Others
4.2.4. By Country
4.2.4.1. Saudi Arabia
4.2.4.2. UAE
4.2.4.3. Qatar
4.2.4.4. Kuwait
4.2.4.5. South Africa
4.2.4.6. Nigeria
4.2.4.7. Algeria
4.2.4.8. Rest of MEA
5. Saudi Arabia Forklift Truck Market
5.1. Market Size & Forecast, 2019–2029
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Power Source
5.2.2. By Class
5.2.3. By End Use
6. UAE Forklift Truck Market
6.1. Market Size & Forecast, 2019–2029
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Power Source
6.2.2. By Class
6.2.3. By End Use
7. Qatar Forklift Truck Market
7.1. Market Size & Forecast, 2019–2029
7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
7.2.1. By Power Source
7.2.2. By Class
7.2.3. By End Use
8. Kuwait Forklift Truck Market
8.1. Market Size & Forecast, 2019–2029
8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
8.2.1. By Power Source
8.2.2. By Class
8.2.3. By End Use
9. South Africa Forklift Truck Market
9.1. Market Size & Forecast, 2019–2029
9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
9.2.1. By Power Source
9.2.2. By Class
9.2.3. By End Use
10. Nigeria Forklift Truck Market
10.1. Market Size & Forecast, 2019–2029
10.1.1. By Value (USD Million)
10.2. Market Share & Forecast
10.2.1. By Power Source
10.2.2. By Class
10.2.3. By End Use
11. Algeria Forklift Truck Market
11.1. Market Size & Forecast, 2019–2029
11.1.1. By Value (USD Million)
11.2. Market Share & Forecast
11.2.1. By Power Source
11.2.2. By Class
11.2.3. By End Use
12. Rest of MEA Forklift Truck Market
12.1. Market Size & Forecast, 2019–2029
12.1.1. By Value (USD Million)
12.2. Market Share & Forecast
12.2.1. By Power Source
12.2.2. By Class
12.2.3. By End Use
13. Competitive Landscape
13.1. List of Key Players and Their Offerings
13.2. Middle East & Africa Forklift Truck Company Market Share Analysis, 2022
13.3. Competitive Benchmarking, By Operating Parameters
13.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
14. Impact of Covid-19 on Middle East & Africa Forklift Truck Market
15. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
15.1. Toyota Industries Corporation
15.2. KION Group AG
15.3. Jungheinrich AG
15.4. Crown Equipment Corporation
15.5. Hyster-Yale Materials Handling Inc.
15.6. Hangcha Group Co.
15.7. Mitsubishi Forklift Trucks
15.8. Doosan Industrial Vehicles Co. Ltd
15.9. Caterpillar Inc.
15.10. Anhui Heli
15.11. Komatsu Ltd
15.12. Clark Material Handling Company Inc.
15.13. Other Prominent Players
16. Key Strategic Recommendations
17. Research Methodology
17.1. Qualitative Research
17.1.1. Primary & Secondary Research
17.2. Quantitative Research
17.3. Market Breakdown & Data Triangulation
17.3.1. Secondary Research
17.3.2. Primary Research
17.4. Breakdown of Primary Research Respondents, By Region
17.5. Assumptions & Limitations
*Financial information in case of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 Middle East & Africa Forklift Truck Segmentation
Figure 2 Middle East & Africa Forklift Truck Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 Middle East & Africa Forklift Truck Market Size, By Value (USD Million), 2019–2029
Figure 5 Middle East & Africa Forklift Truck Market Share, By Power Source, By Value, 2019–2029
Figure 6 Middle East & Africa Forklift Truck Market Share, By Class, By Value, 2019–2029
Figure 7 Middle East & Africa Forklift Truck Market Share, By End Use, By Value, 2019–2029
Figure 8 Middle East & Africa Forklift Truck Market Share, By Country, By Value, 2019–2029
Figure 9 Saudi Arabia Forklift Truck Market Size, By Value (USD Million), 2019–2029
Figure 10 Saudi Arabia Forklift Truck Market Share, By Power Source, By Value, 2019–2029
Figure 11 Saudi Arabia Forklift Truck Market Share, By Class, By Value, 2019–2029
Figure 12 Saudi Arabia Forklift Truck Market Share, By End Use, By Value, 2019–2029
Figure 13 UAE Forklift Truck Market Size, By Value (USD Million), 2019–2029
Figure 14 UAE Forklift Truck Market Share, By Power Source, By Value, 2019–2029
Figure 15 UAE Forklift Truck Market Share, By Class, By Value, 2019–2029
Figure 16 UAE Forklift Truck Market Share, By End Use, By Value, 2019–2029
Figure 17 Qatar Forklift Truck Market Size, By Value (USD Million), 2019–2029
Figure 18 Qatar Forklift Truck Market Share, By Power Source, By Value, 2019–2029
Figure 19 Qatar Forklift Truck Market Share, By Class, By Value, 2019–2029
Figure 20 Qatar Forklift Truck Market Share, By End Use, By Value, 2019–2029
Figure 21 Kuwait Forklift Truck Market Size, By Value (USD Million), 2019–2029
Figure 22 Kuwait Forklift Truck Market Share, By Power Source, By Value, 2019–2029
Figure 23 Kuwait Forklift Truck Market Share, By Class, By Value, 2019–2029
Figure 24 Kuwait Forklift Truck Market Share, By End Use, By Value, 2019–2029
Figure 25 South Africa Forklift Truck Market Size, By Value (USD Million), 2019–2029
Figure 26 South Africa Forklift Truck Market Share, By Power Source, By Value, 2019–2029
Figure 27 South Africa Forklift Truck Market Share, By Class, By Value, 2019–2029
Figure 28 South Africa Forklift Truck Market Share, By End Use, By Value, 2019–2029
Figure 29 Nigeria Forklift Truck Market Size, By Value (USD Million), 2019–2029
Figure 30 Nigeria Forklift Truck Market Share, By Power Source, By Value, 2019–2029
Figure 31 Nigeria Forklift Truck Market Share, By Class, By Value, 2019–2029
Figure 32 Nigeria Forklift Truck Market Share, By End Use, By Value, 2019–2029
Figure 33 Algeria Forklift Truck Market Size, By Value (USD Million), 2019–2029
Figure 34 Algeria Forklift Truck Market Share, By Power Source, By Value, 2019–2029
Figure 35 Algeria Forklift Truck Market Share, By Class, By Value, 2019–2029
Figure 36 Algeria Forklift Truck Market Share, By End Use, By Value, 2019–2029
Figure 37 Rest of MEA Forklift Truck Market Size, By Value (USD Million), 2019–2029
Figure 38 Rest of MEA Forklift Truck Market Share, By Power Source, By Value, 2019–2029
Figure 39 Rest of MEA Forklift Truck Market Share, By Class, By Value, 2019–2029
Figure 40 Rest of MEA Forklift Truck Market Share, By End Use, By Value, 2019–2029
List of Tables
Table 1 Middle East & Africa Forklift Truck Market Size, By Value (USD Million), 2019–2029
Table 2 Middle East & Africa Forklift Truck Market Size, By Power Source, By Value, 2019–2029
Table 3 Middle East & Africa Forklift Truck Market Size, By Class, By Value, 2019–2029
Table 4 Middle East & Africa Forklift Truck Market Size, By End Use, By Value, 2019–2029
Table 5 Middle East & Africa Forklift Truck Market Size, By Country, By Value, 2019–2029
Table 6 Saudi Arabia Forklift Truck Market Size, By Value (USD Million), 2019–2029
Table 7 Saudi Arabia Forklift Truck Market Size, By Power Source, By Value, 2019–2029
Table 8 Saudi Arabia Forklift Truck Market Size, By Class, By Value, 2019–2029
Table 9 Saudi Arabia Forklift Truck Market Size, By End Use, By Value, 2019–2029
Table 10 UAE Forklift Truck Market Size, By Value (USD Million), 2019–2029
Table 11 UAE Forklift Truck Market Size, By Power Source, By Value, 2019–2029
Table 12 UAE Forklift Truck Market Size, By Class, By Value, 2019–2029
Table 13 UAE Forklift Truck Market Size, By End Use, By Value, 2019–2029
Table 14 Qatar Forklift Truck Market Size, By Value (USD Million), 2019–2029
Table 15 Qatar Forklift Truck Market Size, By Power Source, By Value, 2019–2029
Table 16 Qatar Forklift Truck Market Size, By Class, By Value, 2019–2029
Table 17 Qatar Forklift Truck Market Size, By End Use, By Value, 2019–2029
Table 18 Kuwait Forklift Truck Market Size, By Value (USD Million), 2019–2029
Table 19 Kuwait Forklift Truck Market Size, By Power Source, By Value, 2019–2029
Table 20 Kuwait Forklift Truck Market Size, By Class, By Value, 2019–2029
Table 21 Kuwait Forklift Truck Market Size, By End Use, By Value, 2019–2029
Table 22 South Africa Forklift Truck Market Size, By Value (USD Million), 2019–2029
Table 23 South Africa Forklift Truck Market Size, By Power Source, By Value, 2019–2029
Table 24 South Africa Forklift Truck Market Size, By Class, By Value, 2019–2029
Table 25 South Africa Forklift Truck Market Size, By End Use, By Value, 2019–2029
Table 26 Nigeria Forklift Truck Market Size, By Value (USD Million), 2019–2029
Table 27 Nigeria Forklift Truck Market Size, By Power Source, By Value, 2019–2029
Table 28 Nigeria Forklift Truck Market Size, By Class, By Value, 2019–2029
Table 29 Nigeria Forklift Truck Market Size, By End Use, By Value, 2019–2029
Table 30 Algeria Forklift Truck Market Size, By Value (USD Million), 2019–2029
Table 31 Algeria Forklift Truck Market Size, By Power Source, By Value, 2019–2029
Table 32 Algeria Forklift Truck Market Size, By Class, By Value, 2019–2029
Table 33 Algeria Forklift Truck Market Size, By End Use, By Value, 2019–2029
Table 34 Rest of MEA Forklift Truck Market Size, By Value (USD Million), 2019–2029
Table 35 Rest of MEA Forklift Truck Market Size, By Power Source, By Value, 2019–2029
Table 36 Rest of MEA Forklift Truck Market Size, By Class, By Value, 2019–2029
Table 37 Rest of MEA Forklift Truck Market Size, By End Use, By Value, 2019–2029
Table 38 Toyota Industries Corporation Company Overview
Table 39 Toyota Industries Corporation Financial Overview
Table 40 KION Group AG Company Overview
Table 41 KION Group AG Financial Overview
Table 42 Jungheinrich AG Company Overview
Table 43 Jungheinrich AG Financial Overview
Table 44 Crown Equipment Corporation Company Overview
Table 45 Crown Equipment Corporation Financial Overview
Table 46 Hyster-Yale Materials Handling Inc. Company Overview
Table 47 Hyster-Yale Materials Handling Inc. Financial Overview
Table 48 Hangcha Group Co. Company Overview
Table 49 Hangcha Group Co. Financial Overview
Table 50 Mitsubishi Forklift Trucks Company Overview
Table 51 Mitsubishi Forklift Trucks Financial Overview
Table 52 Doosan Industrial Vehicles Co. Ltd Company Overview
Table 53 Doosan Industrial Vehicles Co. Ltd Financial Overview
Table 54 Caterpillar Inc. Company Overview
Table 55 Caterpillar Inc. Financial Overview
Table 56 Anhui Heli Company Overview
Table 57 Anhui Heli Financial Overview
Table 58 Komatsu Ltd Company Overview
Table 59 Komatsu Ltd Financial Overview
Table 60 Clark Material Handling Company Inc. Company Overview
Table 61 Clark Material Handling Company Inc. Financial Overview

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