Global Forklifts Market Growth 2025-2031
Description
The global Forklifts market size is predicted to grow from US$ 32290 million in 2025 to US$ 40890 million in 2031; it is expected to grow at a CAGR of 4.0% 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.
Forklifts are industrial-powered vehicles designed to lift, move, and stack materials across short distances. Commonly used in logistics, warehousing, manufacturing, and construction, these machines improve material handling efficiency and workplace productivity.
The Forklifts market is undergoing a major transformation driven by electrification, automation, and smart logistics. Strong demand from e-commerce, warehousing, and infrastructure sectors is boosting growth globally. Forklifts are evolving from traditional manual machines into connected, intelligent, and eco-friendly systems, positioning the market for sustained long-term expansion. Companies investing in electric and autonomous forklift solutions are likely to lead the future of material handling.
Key Trends
Electrification: Shift from internal combustion engines to electric-powered forklifts due to environmental concerns and operational efficiency. Automation & Smart Warehousing: Adoption of autonomous forklifts and AGVs (automated guided vehicles) in Industry 4.0 and smart factory environments. Battery Technology Advances: Increased use of lithium-ion batteries for faster charging and longer life. Integration of Telematics: Use of IoT and telematics for predictive maintenance, fleet optimization, and safety monitoring. Rise in E-commerce: Accelerated demand for warehouse automation and forklift fleets due to the global e-commerce boom.
Market Drivers
Growth in Global Warehousing & Logistics: Expansion of 3PL, retail distribution, and cold chain logistics. Construction & Infrastructure Development: High demand for forklifts at construction and industrial sites, especially in emerging economies. Environmental Regulations: Government push for cleaner, electric material handling equipment. Labor Shortage & Safety: Increasing need for mechanized lifting solutions due to labor shortages and safety standards. Urbanization & Smart City Initiatives: Demand for compact, agile forklifts suitable for urban warehousing and intralogistics.
LP Information, Inc. (LPI) ' newest research report, the “Forklifts Industry Forecast” looks at past sales and reviews total world Forklifts sales in 2024, providing a comprehensive analysis by region and market sector of projected Forklifts sales for 2025 through 2031. With Forklifts sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Forklifts industry.
This Insight Report provides a comprehensive analysis of the global Forklifts 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 Forklifts portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Forklifts market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Forklifts 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 Forklifts.
This report presents a comprehensive overview, market shares, and growth opportunities of Forklifts market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Class 1
Class 2
Class 3
Class 4 and 5
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 Forklifts market?
What factors are driving Forklifts market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Forklifts market opportunities vary by end market size?
How does Forklifts 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.
Forklifts are industrial-powered vehicles designed to lift, move, and stack materials across short distances. Commonly used in logistics, warehousing, manufacturing, and construction, these machines improve material handling efficiency and workplace productivity.
The Forklifts market is undergoing a major transformation driven by electrification, automation, and smart logistics. Strong demand from e-commerce, warehousing, and infrastructure sectors is boosting growth globally. Forklifts are evolving from traditional manual machines into connected, intelligent, and eco-friendly systems, positioning the market for sustained long-term expansion. Companies investing in electric and autonomous forklift solutions are likely to lead the future of material handling.
Key Trends
Electrification: Shift from internal combustion engines to electric-powered forklifts due to environmental concerns and operational efficiency. Automation & Smart Warehousing: Adoption of autonomous forklifts and AGVs (automated guided vehicles) in Industry 4.0 and smart factory environments. Battery Technology Advances: Increased use of lithium-ion batteries for faster charging and longer life. Integration of Telematics: Use of IoT and telematics for predictive maintenance, fleet optimization, and safety monitoring. Rise in E-commerce: Accelerated demand for warehouse automation and forklift fleets due to the global e-commerce boom.
Market Drivers
Growth in Global Warehousing & Logistics: Expansion of 3PL, retail distribution, and cold chain logistics. Construction & Infrastructure Development: High demand for forklifts at construction and industrial sites, especially in emerging economies. Environmental Regulations: Government push for cleaner, electric material handling equipment. Labor Shortage & Safety: Increasing need for mechanized lifting solutions due to labor shortages and safety standards. Urbanization & Smart City Initiatives: Demand for compact, agile forklifts suitable for urban warehousing and intralogistics.
LP Information, Inc. (LPI) ' newest research report, the “Forklifts Industry Forecast” looks at past sales and reviews total world Forklifts sales in 2024, providing a comprehensive analysis by region and market sector of projected Forklifts sales for 2025 through 2031. With Forklifts sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Forklifts industry.
This Insight Report provides a comprehensive analysis of the global Forklifts 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 Forklifts portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Forklifts market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Forklifts 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 Forklifts.
This report presents a comprehensive overview, market shares, and growth opportunities of Forklifts market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
Class 1
Class 2
Class 3
Class 4 and 5
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 Forklifts market?
What factors are driving Forklifts market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Forklifts market opportunities vary by end market size?
How does Forklifts break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
Table of Contents
140 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 Forklifts 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 Forklifts by Geographic Region
- 13 Key Players Analysis
- 14 Research Findings and Conclusion
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