Global Electric Forklift Market Outlook 2017-2022

The global electric forklift market is anticipated to rise at a higher CAGR of 7.6% by 2022. A forklift is a vehicle identical to a small truck that has metal forks on the front to lift the cargo. Common purpose of using a forklift is to transport cargo between two areas, amass heavy objects and load and unload vehicles. Forklifts can vary in size, ranging from one tonne capacity to more than 40 tonnes, depending on the nature of task.

An electric forklift is purposely used for warehouse since there is no emission of gas or fumes unlike fuel powered motors. Electric forklifts comprise rechargeable batteries that comprise sulphuric acid that can corrode human tissue and the surrounding. Hence, it is mandate for electric forklift operators to wear protective clothing, face masks, protective apron and acid resistant boots.

Electric forklift market is driven by rise in technological infrastructure and industry shift from fuel powered forklifts to electric forklifts. In addition, conventional forklifts offer limitations in terms of efficiency. Emergence of electric forklifts enable robust operating efficiency to handle & transport materials. However, significant costs and power related issues are more likely to restrict the market growth.

Electric forklift market is segmented as electric reach trucks, electric counterbalance forklift trucks and electric pallet trucks. Electric reach trucks and electric pallet trucks segment is more likely to result in a higher CAGR. Application of electric forklifts can be categorized as factory, manufacturing units, airport and harbour.

Geographical segmentation for electric forklift market spans North America, South America, Europe, Asia-Pacific, Middle East and Africa. North America market is likely to result in significant CAGR during the forecast period owing to the changing trends in industry and dominance of material handling equipment. Rise in business expansion and material shipping results in market growth during the forecast period. 

Asia-Pacific regions are likely to encounter a higher CAGR during the forecast period due to availability of technological infrastructure and presence of key players. In addition, rise in construction and trade activities propels the market demand for electric forklifts. Middle Eastern and African markets hold a significance in the international market due to ongoing mining activities and construction. 

The key players profiled in electric forklift market report are Anhui Heli, Clark Medical Handling Company, Hangcha, Mitsubishi Nichiyu, Kion Group AG, Combilift Ltd, Crown Equipment, Tailift Group, Hyundai Heavy Industries, Godrej & Boyce, Toyota, Hubtex and Lonking.

The global market for electric forklift will grow at a CAGR of 7.6% by 2022, according to a new report published by Gen Consulting Company. The report segments the market and forecasts its size, by volume and value, on the basis of application (retail, logistic, industrial, etc.), and by geography (North America, Europe, Asia-Pacific, MEA and South America).

The report covers forecast and analysis for the electric forklift market on a global and regional level. The study provides historic data of 2012-2016 along with a forecast from 2017 to 2022 based on both output/volume and revenue. The study then describes the drivers and restraints for the electric forklift market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the electric forklift market on a global level.

The report has been prepared based on the synthesis, analysis, and interpretation of information about the global electric forklift market collected from specialized sources. The competitive landscape section of the report provides a clear insight into the market share analysis of key industry players. Company overview, financial overview, product portfolio, new project launched, recent development analysis are the parameters included in the profile.

Demand for this market rises from the retail, logistic, industrial, and other applications. All the segments have been analyzed based on present and future trends and the market is estimated from 2017 to 2022. Relevantly, the report and company profiles specify the key drivers that are impacting the demand in global electric forklift market.

Key Applications
- Retail
- Logistic
- Industrial

Key Regions
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America

Key Vendors
- Anhui Heli
- Clark
- Combilift Ltd
- Crown Equipment
- Doosan Group
- Godrej & Boyce
- Hangcha Forklift
- Hubtex
- Hyster-Yale Group
- Hytsu Group
- Hyundai Heavy Industries
- Jungheinrich
- Kion Group
- Komatsu
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Key Questions Answered in this Report
- What will the market size be in 2022?
- What are the key factors driving the global electric forklift market?
- What are the challenges to market growth?
- Who are the key players in the electric forklift market?
- What are the market opportunities and threats faced by the key players?