Global Electric Forklift Market Growth 2025-2031
Description
The global Electric Forklift market size is predicted to grow from US$ 21150 million in 2025 to US$ 29540 million in 2031; it is expected to grow at a CAGR of 5.7% from 2025 to 2031.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
An electric forklift is a material handling vehicle powered by batteries (typically lead-acid or lithium-ion) rather than internal combustion engines. Designed for indoor use and environmentally sensitive environments, electric forklifts are widely used in warehouses, manufacturing plants, retail centers, and logistics hubs due to their clean operation, lower noise, and lower maintenance requirements.
The Electric Forklift market is experiencing strong, sustained growth driven by sustainability regulations, battery innovation, and the expansion of smart warehousing. With businesses increasingly shifting toward low-emission, efficient, and automated material handling solutions, electric forklifts are fast becoming the new industry standard. Companies that offer energy-efficient, digitally connected, and autonomous-ready forklifts are best positioned to lead this market transformation.
Market Trends
Shift to Lithium-ion Batteries: Rapid adoption due to longer battery life, fast charging, and zero maintenance. Integration of Smart Features: Telematics, fleet management, remote diagnostics, and operator monitoring systems. Sustainability Mandates: Companies adopting electric forklifts to meet carbon reduction and ESG goals. Growth of Autonomous Forklifts: Electric models are the base for AGVs and self-driving forklifts in smart warehouses. Rental and Fleet-as-a-Service Models: Shift from ownership to leasing for flexibility and reduced capex.
Key Market Drivers
Environmental Regulations: Ban on diesel-powered forklifts in indoor spaces and emissions control. Rising Warehouse Automation: E-commerce, 3PL, and retail sectors require clean and efficient MHE. Lower Total Cost of Ownership (TCO): Electric forklifts offer reduced energy costs and fewer maintenance needs. Government Incentives: Subsidies and tax benefits for adopting electric industrial equipment in several countries. Technological Advancements: Innovations in battery tech, power management, and safety features are boosting adoption.
LP Information, Inc. (LPI) ' newest research report, the “Electric Forklift Industry Forecast” looks at past sales and reviews total world Electric Forklift sales in 2024, providing a comprehensive analysis by region and market sector of projected Electric Forklift sales for 2025 through 2031. With Electric Forklift sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Electric Forklift industry.
This Insight Report provides a comprehensive analysis of the global Electric Forklift landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Electric Forklift portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Electric Forklift market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Electric Forklift and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Electric Forklift.
This report presents a comprehensive overview, market shares, and growth opportunities of Electric Forklift market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Class 1
Class 2
Class 3
Segmentation by Application:
Warehouses
Factories
Distribution Centers
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Toyota
Kion
Jungheinrich
Mitsubishi Logisnext
Crown Equipment
Hyster-Yale
Anhui Heli
Hangcha
Clark Material Handling
Doosan Corporation Industrial Vehicle
Komatsu
Lonking
Hyundai Heavy Industries
EP Equipment
Manitou
Paletrans Equipment
Combilift
Hubtex Maschinenbau
Godrej & Boyce
Key Questions Addressed in this Report
What is the 10-year outlook for the global Electric Forklift market?
What factors are driving Electric Forklift market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Electric Forklift market opportunities vary by end market size?
How does Electric Forklift break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
An electric forklift is a material handling vehicle powered by batteries (typically lead-acid or lithium-ion) rather than internal combustion engines. Designed for indoor use and environmentally sensitive environments, electric forklifts are widely used in warehouses, manufacturing plants, retail centers, and logistics hubs due to their clean operation, lower noise, and lower maintenance requirements.
The Electric Forklift market is experiencing strong, sustained growth driven by sustainability regulations, battery innovation, and the expansion of smart warehousing. With businesses increasingly shifting toward low-emission, efficient, and automated material handling solutions, electric forklifts are fast becoming the new industry standard. Companies that offer energy-efficient, digitally connected, and autonomous-ready forklifts are best positioned to lead this market transformation.
Market Trends
Shift to Lithium-ion Batteries: Rapid adoption due to longer battery life, fast charging, and zero maintenance. Integration of Smart Features: Telematics, fleet management, remote diagnostics, and operator monitoring systems. Sustainability Mandates: Companies adopting electric forklifts to meet carbon reduction and ESG goals. Growth of Autonomous Forklifts: Electric models are the base for AGVs and self-driving forklifts in smart warehouses. Rental and Fleet-as-a-Service Models: Shift from ownership to leasing for flexibility and reduced capex.
Key Market Drivers
Environmental Regulations: Ban on diesel-powered forklifts in indoor spaces and emissions control. Rising Warehouse Automation: E-commerce, 3PL, and retail sectors require clean and efficient MHE. Lower Total Cost of Ownership (TCO): Electric forklifts offer reduced energy costs and fewer maintenance needs. Government Incentives: Subsidies and tax benefits for adopting electric industrial equipment in several countries. Technological Advancements: Innovations in battery tech, power management, and safety features are boosting adoption.
LP Information, Inc. (LPI) ' newest research report, the “Electric Forklift Industry Forecast” looks at past sales and reviews total world Electric Forklift sales in 2024, providing a comprehensive analysis by region and market sector of projected Electric Forklift sales for 2025 through 2031. With Electric Forklift sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Electric Forklift industry.
This Insight Report provides a comprehensive analysis of the global Electric Forklift landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Electric Forklift portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Electric Forklift market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Electric Forklift and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Electric Forklift.
This report presents a comprehensive overview, market shares, and growth opportunities of Electric Forklift market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Class 1
Class 2
Class 3
Segmentation by Application:
Warehouses
Factories
Distribution Centers
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Toyota
Kion
Jungheinrich
Mitsubishi Logisnext
Crown Equipment
Hyster-Yale
Anhui Heli
Hangcha
Clark Material Handling
Doosan Corporation Industrial Vehicle
Komatsu
Lonking
Hyundai Heavy Industries
EP Equipment
Manitou
Paletrans Equipment
Combilift
Hubtex Maschinenbau
Godrej & Boyce
Key Questions Addressed in this Report
What is the 10-year outlook for the global Electric Forklift market?
What factors are driving Electric Forklift market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Electric Forklift market opportunities vary by end market size?
How does Electric Forklift break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
Table of Contents
126 Pages
- *This is a tentative TOC and the final deliverable is subject to change.*
- 1 Scope of the Report
- 2 Executive Summary
- 3 Global by Company
- 4 World Historic Review for Electric Forklift by Geographic Region
- 5 Americas
- 6 APAC
- 7 Europe
- 8 Middle East & Africa
- 9 Market Drivers, Challenges and Trends
- 10 Manufacturing Cost Structure Analysis
- 11 Marketing, Distributors and Customer
- 12 World Forecast Review for Electric Forklift by Geographic Region
- 13 Key Players Analysis
- 14 Research Findings and Conclusion
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