The global Electric
Forklift Market size is anticipated to
reach USD 112.87 billion by 2030, growing at a CAGR of 14.4% from
2024 to 2030, according to a new report by Grand View Research, Inc.
Developments in the e-commerce industry are fueling the demand for lift trucks across the
economies. Owing to the increase in online shopping, the demand for lift trucks
among retailers has escalated in recent years. Electric forklift allows
companies to store and distribute merchandise in large quantities, giving them
a competitive advantage in their respective markets. Thus, growing demand from
several end-use industries is anticipated to drive the market growth over the
forecast period.
Furthermore, the trend of automation and robotics is
expected to gain significant momentum from 2024 to 2030, particularly in
warehouses and distribution centers. Automated forklifts are becoming increasingly
popular due to their ability to move goods more quickly and efficiently than
manual forklifts. These automated forklifts enhance productivity as well as reduce the
risk of injury and human error, making them a safer option for warehouses and
distribution centers.
Several prominent players are expanding their
business operations in emerging regions in the global electric forklift
industry. Further, companies are planning strategies for product innovation and
portfolio expansion through strategic investments and mergers and acquisitions
in the global market. For instance, in January 2023, Crown Equipment
Corporation expanded its electric and IC counterbalance forklift portfolio with
the launch of C-B, C-D, and C-G lift truck series. These forklifts are capable
of handling load capacities ranging from 2.0 to 5.5 tons, enabling them to
tackle a wide variety of tasks in both indoor and outdoor environments.
The market is expected to grow rapidly from 2024 to
2030 due to the increased adoption of electric forklift technology and an
increase in its applications in industries such as food and beverage, chemical,
industrial, logistics, construction, retail and e-commerce, and others. As
electric forklifts are expected to outpace ICE forklifts, OEMs seek ways to
improve forklifts' run-time and performance. Rising environmental concerns and
scarcity of natural resources such as natural gas also create the need for a
sustainable, efficient, and durable power source to run the electric forklift
and long-term renewable energy solution.
List of Key Players in the Electric Forklift Market
- Anhui Heli Co., Ltd.
- Clark Material Handing Company
- Crown Equipment Corporation
- Doosan Corporation
- Hangcha Forklift
- Hyster-Yale Materials Handling, Inc.
- Jungheinrich AG
- KION Group AG
- Komatsu Ltd.
- Mitsubishi Logisnext Co., Ltd.
- Toyota Material Handling
Request a free sample copy or view report
summary: Electric Forklift Market Report
Electric Forklift Market Report Highlights
- The pallet trucks segment dominated the market in 2023. Electric
pallet trucks are versatile tools that can benefit a wide range of
businesses and production processes. They are particularly useful for
moving materials in warehouses, supermarkets, and the transport industry,
as they can efficiently load and unload goods. Thus, the increasing use of
electric pallet trucks to improve overall operational efficiency by
streamlining material handling tasks is driving the segment’s growth.
- The lithium-ion segment dominated the market in 2023. The growth of
the segment can be attributed to the rising demand for lithium-ion-based
electric forklifts as they provide benefits such as longer runtimes,
faster charging times, and more efficient operation.
- The retail & e-commerce segment is expected to grow at the
fastest CAGR from 2024 to 2030. Factors such as rapid growth of the retail
and e-commerce industry and the need for efficient material handling tools
can be attributed to the segment’s growth.
- The Asia Pacific region is expected to grow at the fastest CAGR from
2024 to 2030. The presence of several prominent electric forklift
manufacturers, such as Doosan Corporation and Hangcha Forklift, can be
attributed to the market growth in the region. In addition, factors such
as increasing population in countries such as China and India, rising
disposable income, and the evolving material handling needs of the growing
e-commerce operations in the region are expected to contribute to the
market growth in the region.
- In April 2023, Toyota Material Handling announced the launch of a
new electric walkie-stacker: Tora-Max Walkie Stacker. The walkie-stacker
is ideal for distribution, manufacturing, beverage, warehousing, and
retail industries. The new model is available in the North American region
through online and store purchases. The vehicle is designed for light
dusty operations.
Related Press Release@ Electric Forklift Market Analysis
Electric Forklift Market Report
Scope
Report
Attribute |
Details |
Market
size value in 2024 |
USD 50.40
billion |
Revenue
forecast in 2030 |
USD
112.87 billion |
Growth
rate |
CAGR of
14.4% from 2024 to 2030 |
Actual
Data |
2018 -
2023 |
Forecast period |
2024 - 2030 |
Electric Forklift Market Segmentation
Grand View Research has segmented the global
electric forklift market on the basis of product, battery type, end-use, and
region:
Electric Forklift Product Outlook (Revenue, USD Million,
2018 - 2030)
- Counterbalanced
- Pallet Trucks
- Reach Trucks
- Pallet Stackers
- Others
Electric Forklift Battery Type Outlook (Revenue, USD
Million, 2018 - 2030)
- Lithium-Ion
- Lead Acid
- Hydrogen Fuel-Cell
Electric Forklift End Use Outlook (Revenue, USD Million,
2018 - 2030)
- Chemical
- Food & Beverage
- Industrial
- Logistics
- Retail & E-Commerce
- Others
Electric Forklift Regional Outlook (Revenue, USD Million,
2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Brazil
- Argentina
- Middle East & Africa
- Kingdom of Saudi Arabia
- UAE
- South Africa
List of Key Players in the Electric Forklift Market
- Anhui Heli Co., Ltd.
- Clark Material Handing Company
- Crown Equipment Corporation
- Doosan Corporation
- Hangcha Forklift
- Hyster-Yale Materials Handling, Inc.
- Jungheinrich AG
- KION Group AG
- Komatsu Ltd.
- Mitsubishi Logisnext Co., Ltd.
- Toyota Material Handling
Explore Horizon, the world's most expansive market research database
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the company
offers market intelligence studies ensuring relevant and fact-based research
across a range of industries including technology, chemicals, materials,
healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment