Forklift Market is projected to register steady growth by 2025

Global Forklift Market research report released by Global Market Insights provides industry information about Top Key Players, Countries, Type and Application. This Forklift report also states Company Profile, sales, Forklift Market revenue and price, market share, market growth and gross margin by regions, Strategic recommendations for the new entrants, Market forecasts for a minimum of five years of all the mentioned segments, sub segments and the regional markets.

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North America is expected to witness stagnant growth over the coming few years owing to its steady economic recovery after recession. Lack of abundant workforce, emphasis on emission reduction are expected to present forklift market potential growth opportunities over the forecast timeframe.

Europe forklift market share accounted for around 30% and is anticipated to witness significant growth opportunities over the forecast timeframe. Increased in demand for battery operated trucks and growth in warehouse segment are major contributors for market growth. Europe held the largest forklift market share in wholesale & retail distribution segment owing to highest utilization of electric vehicles in the segment.

Inadequacy of critical component suppliers and lack of skilled operators pose considerable threat to forklift market growth. OEMs are highly dependent on suppliers for critical components such as cockpit controls, tilt cylinders, overhead guards and load backrest used in these utilities. Owing to the regulatory compliances in imports, and difficulty in procuring of these components, cost of critical components is expected to increase in upcoming years.

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Asia Pacific forklift market dominated the accounting for over 40% of the industry share in 2015. China accounted for approximately 25% share in terms of volume, is anticipated to exhibit an exponential growth owing to factors such as presence of large number of production facilities, heavy logistics activities, economy growth and high adoption of technological advancements. This will lead to significant forklift market growth of regional sector.

Some forklift market players include KION Group AG, Toyota Industries Corporation, Jungheinrich group, Hyster-Yale Material handling Inc and Mitsubishi Nichiyu Forklift Corporation.

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