Forklift market headed for $51B by 2022

News Story
- 2 Feb 2017 ( #806 ) - Portland, OR, United States
1 min read
Global forklift market by class
Global forklift market by class
The global forklift market is estimated to reach USD51 billion by 2022, growing at 6.6% per year during the forecast period.

The prediction is contained in a new report published by Allied Market Research, titled Forklift Truck Market: Global Opportunity Analysis and Industry Forecast, 2014-2022.

The forklift market is expected to witness notable growth in future owing to the competitive advantages of electric forklift trucks such as their high efficiency, eco-friendly nature, and low operation cost compared to other forklift trucks. Expanding applications of forklifts in the industrial sector, such as in the food industry and automotive, are expected to fuel the market growth. Moreover, increase in warehouse space for these industries is boosting demand for forklifts.

The report notes that counterbalance trucks made up the highest revenue-generating segment, accounting for USD24 billion in 2015. However, warehouse trucks are expected grow at the highest annual rate of 7.4% to reach USD14 billion by 2022.

Class IV generated the highest revenue, accounting for USD12.6 billion in 2015. However, the class II segment is projected to witness the fastest growth rate of 9.1% to reach USD7 billion by 2022.

According to the report, the Asia Pacific generated the highest revenue in 2015, with USD15 billion, and is expected to retain its dominance ahead as well. It is expected to reach USD25 billion by 2022, growing at an annual rate of 7.8%. Europe and North America are the second and third leading regions, in terms of revenue, respectively.
Electric forklift market to grow by 10.2% annually
Electric forklift market to grow by 10.2% annually 5 Dec 2024 - Wilmington, DE, United States - 1 min read
ERA probes digital ‎transformation
ERA probes digital ‎transformation 26 Jan 2023 - Brussels, Belgium - 2 min read
Technology still a major supply chain issue - MHI
Technology still a major supply chain issue - MHI 11 Apr 2019 - Chicago, IL, United States - 1 min read
Previously about:
Electric forklift market to grow by 10.2% annually News Story - 5 Dec 2024 - Wilmington, DE, United States - 1 min read
Do you have materials handling news? Submit your news here

IMHX is just around the corner – plan your trip with our exhibitor preview:

⇒ Crown Lift Trucks' WJ 50 Series - for heavy loads in tight spaces
⇒ ZoneSafe's Vehicle to Person Alert Proximity Warning System
⇒ Exotec's Skypod - Automated Storage and Retrieval System (AS/RS)
⇒ GemOne's Sapphire - for complete fleet and safety management
See the full list of materials handling products

Are you exhibiting at IMHX?  [Reach out today for your free listing]

Words of support …

These releases in Forkliftaction are a nice experience for SNDC... We got seven inquiries coming from Canada, USA, Mexico, Israel and Australia (five from retailers, two from machines manufacturers) and we are still in contact with them. I can state that's a success story!

David Massat, Sales Director OEM and Export

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

IMHX is just around the corner – plan your trip with our exhibitor preview:

⇒ Crown Lift Trucks' WJ 50 Series - for heavy loads in tight spaces
⇒ ZoneSafe's Vehicle to Person Alert Proximity Warning System
⇒ Exotec's Skypod - Automated Storage and Retrieval System (AS/RS)
⇒ GemOne's Sapphire - for complete fleet and safety management
See the full list of materials handling products

Are you exhibiting at IMHX?  [Reach out today for your free listing]

IMHX is just around the corner – plan your trip with our exhibitor preview:

⇒ Crown Lift Trucks' WJ 50 Series - for heavy loads in tight spaces
⇒ ZoneSafe's Vehicle to Person Alert Proximity Warning System
⇒ Exotec's Skypod - Automated Storage and Retrieval System (AS/RS)
⇒ GemOne's Sapphire - for complete fleet and safety management
See the full list of materials handling products

Are you exhibiting at IMHX?  [Reach out today for your free listing]

PREMIUM business

VETTER Industrie GmbH
The world's most comprehensive range of forks and the most intelligent sensor fork for more safety and efficiency.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET