Electric Lift Truck Market Size - By Product (Warehouse and Counterbalance), By Class (Class 1, Class II, Class III, Class IV), By Application (Chemical, Food & Beverage, Industrial, Logistics and Retail & E-commerce) & Global Forecast, 2024

Description

List of Tables

Global Electric Lift Truck Market size will register a 9% CAGR from 2024 to 2034, fueled by the burgeoning demand for warehouse automation and heightened focus on material handling efficiency. As industries seek streamlined operations and improved productivity in their warehouses and distribution centers, the adoption of electric lift trucks becomes imperative. These eco-friendly and technologically advanced solutions offer efficient material handling capabilities, aligning with the evolving needs of modern logistics and manufacturing sectors, thus driving market expansion.

For instance, in September 2023, Mitsubishi Logisnext Americas introduced the innovative SCX N2 Series of electric stand-up counterbalanced lift trucks, bolstering its extensive warehouse product lineup. This addition provides customers with a range of advantages, revolutionizing material handling operations for enhanced efficiency and flexibility.

The electric lift truck industry is segmented based on class, application, and region.

The class 1 segment will progress decently through 2032, driven by the segment's versatility and suitability for indoor applications across various industries. With the increasing focus on indoor material handling efficiency and environmental sustainability, class 1 electric lift trucks, including pallet trucks and counterbalance forklifts, are witnessing heightened demand. Their maneuverability, compact design, and emission-free operation will position them as preferred choices, contributing significantly to the segment's dominance in the market.

The industrial segment will gain a noteworthy electric lift truck market share between 2024 and 2034, propelled by the segment's extensive adoption across manufacturing, logistics, and warehousing sectors. Increasing demand for efficient material handling solutions, in line with advancements in electric lift truck technology tailored to industrial requirements, further solidifies its dominance. As industries worldwide prioritize productivity and sustainability, the industrial segment will emerge as a pivotal driver, shaping the trajectory of the electric lift truck market.

North America electric lift truck industry will grow at a significant CAGR from 2024 to 2034 due to the region's advanced industrial landscape, substantial investments in warehouse modernization, and stringent environmental regulations promoting sustainable solutions. Furthermore, North America's well-established logistics network and technological prowess play pivotal roles in its leading position. These dynamics collectively position North America as a significant contributor, driving the growth trajectory of the electric lift truck industry.

Product Code: 5380

Chapter 1 Methodology & Scope

1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Electric lift truck market 360 degree synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Product trends
2.5 Class trends
2.6 Application trends

Chapter 3 Electric Lift Truck Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Component supplier
- 3.2.2 Technology provider
- 3.2.3 Manufacturer
- 3.2.4 Distributor
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Expanding e-commerce sectors in North America
  - 3.8.1.2 Growing focus on reducing emission from vehicles in Europe
  - 3.8.1.3 Increasing R&D investment from manufacturers
  - 3.8.1.4 Rising emphasize on implementing Industry 4.0 practices
  - 3.8.1.5 Developing logistics sector in Mexico
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 High initial investment & maintenance costs
  - 3.8.2.2 Lack of trained operators
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share, 2023
4.3 Competitive analysis of major market players, 2023
4.4 Competitive positioning matrix, 2023
4.5 Strategic outlook matrix, 2023

Chapter 5 Electric Lift Truck Market Estimates & Forecast, By Product

5.1 Key trends, by product
5.2 Warehouse
5.3 Counterbalance

Chapter 6 Electric Lift Truck Market Estimates & Forecast, By Class

6.1 Key trends, by class
6.2 Class I
6.3 Class II
6.4 Class III
6.5 Class IV
6.6 Others

Chapter 7 Electric Lift Truck Market Estimates & Forecast, By Application

7.1 Key trends, by application
7.2 Chemical
7.3 Food & beverage
7.4 Industrial
7.5 Logistics
7.6 Retail & E-commerce
7.7 Others

Chapter 8 Electric Lift Truck Market Estimates & Forecast, By Region

8.1 Key trends, by region
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Russia
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 South Korea
- 8.4.4 Japan
- 8.4.5 Australia
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
- 8.5.4 Chile
8.6 MEA
- 8.6.1 UAE
- 8.6.2 Saudi Arabia
- 8.6.3 South Africa

Chapter 9 Company Profiles

9.1 Anhui HELI Co., Ltd
9.2 Clark Material Handling Company
9.3 Crown Equipment Corporation
9.4 Combilift Material Handling Solutions
9.5 Doosan Industrial Vehicle America Corp.
9.6 Godrej and Boyce Group
9.7 Hangcha Group Co., Ltd.
9.8 Hyster-Yale Materials Handling, Inc.
9.9 Hubtex Maschinenbau GmbH & Co. KG
9.10 Hyundai Construction Equipment Americas, Inc.
9.11 Jungheinrich AG
9.12 KION GROUP AG
9.13 Komatsu Ltd.
9.14 Konecranes
9.15 Lonking Holdings Limited
9.16 Manitou Group
9.17 Mitsubishi Logisnext Co., Ltd.
9.18 Paletrans Forklifts
9.19 Toyota Industries Corporation