Lift Trucks Market Size - By Product, By Propulsion Type, By End Use, & Forecast 2024

Description

Global Lift Trucks Market will witness over 7% CAGR from 2024 to 2032, driven by the emphasis on workplace safety and operator comfort. Companies prioritize the safety of their workforce, leading to the adoption of modern lift truck models equipped with advanced safety features. These features include improved visibility, ergonomic designs to reduce operator fatigue, and enhanced stability controls. As regulations and standards evolve to prioritize worker well-being, businesses progressively invest in lift trucks that boost operational efficiency and ensure a safer working environment. This trend supports the growing demand for innovative lift truck solutions globally.

The overall lift truck industry is classified based on product, propulsion type, end-use, and region.

The reach trucks segment in the lift trucks market will show a remarkable CAGR from 2024 to 2032. Reach trucks are crucial for efficiently accessing and handling goods in narrow aisle spaces, optimizing warehouse space utilization. With the expansion of e-commerce and retail sectors, there's a heightened need for fast and efficient material handling solutions, thriving the adoption of reach trucks. Moreover, technological advancements such as improved battery life and enhanced maneuverability bolster their appeal. As businesses strive for greater operational efficiency and cost-effectiveness in their logistics operations, the demand for reach trucks continues to grow steadily.

The Class II segment will command a noteworthy lift trucks market share by 2032, owing to specific advantages tailored to indoor warehouse environments. Class II lift trucks, including electric narrow aisle and order pickers, excel in efficiency within confined spaces. With the growth of urbanization and tighter warehouse footprints, these trucks are crucial for maximizing storage capacity and operational productivity. Additionally, their electric-powered engines contribute to lower emissions and operational costs, aligning with sustainability goals. As businesses prioritize leaner operations and enhanced efficiency, the appeal of Class II lift trucks continues to usher their rising demand in warehouse settings.

From 2024 to 2032, the North America lift trucks market will record an impressive CAGR. The robust expansion of e-commerce and retail sectors necessitates efficient logistics and warehousing solutions, where lift trucks play a pivotal role. Moreover, increasing investments in infrastructure development, particularly in the construction and manufacturing sectors, fuel demand for material-handling equipment. Additionally, stringent safety regulations and a focus on workplace ergonomics push businesses to invest in modern, safer lift truck models. These trends, combined with technological advancements and the need for improved operational efficiency, contribute to the rising demand for lift trucks in North America.

Product Code: 9366

Chapter 1 Methodology & Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Raw material suppliers
- 3.2.2 Manufacturers
- 3.2.3 Component suppliers
- 3.2.4 Dealer and distributors
- 3.2.5 Rental companies
- 3.2.6 End users
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Growth of warehouse and logistics industries (e-commerce boom)
  - 3.8.1.2 Expansion of the construction industry
  - 3.8.1.3 Growing automation in warehouses and logistics centers
  - 3.8.1.4 Increasing focus on safety
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 High upfront costs of lift trucks
  - 3.8.2.2 Skilled labor shortage
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 analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Product, 2021 - 2032 ($Bn, Units)

5.1 Key trends
5.2 Forklifts
- 5.2.1 Counterbalance
- 5.2.2 Warehouse
- 5.2.3 Rough terrain
5.3 Reach trucks
5.4 Order pickers
5.5 Pallet jacks
- 5.5.1 Powered
- 5.5.2 Manual

Chapter 6 Market Estimates & Forecast, By Propulsion Type, 2021 - 2032 ($Bn, Units)

6.1 Key trends
6.2 ICE
6.3 Electric

Chapter 7 Market Estimates & Forecast, By Class, 2021 - 2032 ($Bn, Units)

7.1 Key trends
7.2 Class I
- 7.2.1 Forklifts
- 7.2.2 Reach trucks
- 7.2.3 Order pickers
- 7.2.4 Pallet jacks
7.3 Class II
- 7.3.1 Forklifts
- 7.3.2 Reach trucks
- 7.3.3 Order pickers
- 7.3.4 Pallet jacks
7.4 Class III
- 7.4.1 Forklifts
- 7.4.2 Reach trucks
- 7.4.3 Order pickers
- 7.4.4 Pallet jacks
7.5 Class IV
- 7.5.1 Forklifts
- 7.5.2 Reach trucks
- 7.5.3 Order pickers
- 7.5.4 Pallet jacks
7.6 Others
- 7.6.1 Forklifts
- 7.6.2 Reach trucks
- 7.6.3 Order pickers
- 7.6.4 Pallet jacks

Chapter 8 Market Estimates & Forecast, By End Use, 2021 - 2032 ($Bn, Units)

8.1 Key trends
8.2 Chemical
8.3 Food & beverage
8.4 Industrial
8.5 Logistics
8.6 Retail & E-commerce
8.7 Others

Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 ($Mn, Units)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Russia
- 9.3.6 Spain
- 9.3.7 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 Japan
- 9.4.3 India
- 9.4.4 South Korea
- 9.4.5 Australia
- 9.4.6 Southeast Asia
- 9.4.7 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 Anhui Forklift Truck Group Co., Ltd.
10.2 Combilift Ltd.
10.3 Crown Equipment Corporation
10.4 Doosan Industrial Vehicle
10.5 EP Equipment Co., Ltd.
10.6 Godrej & Boyce Mfg. Co. Ltd.
10.7 Hangcha Group Co., Ltd.
10.8 Hangzhou Good-Lift Machinery Co., Ltd.
10.9 Huaqiang Forklift Co., Ltd.
10.10 Hubtex Maschinenbau GmbH & Co. KG
10.11 Hyster-Yale Materials Handling, Inc.
10.12 Hytsu Group
10.13 Jungheinrich AG
10.14 KION Group
10.15 Komatsu Utility Co., Ltd.
10.16 Mitsubishi Logisnext Co., Ltd.
10.17 Paletrans Equipment
10.18 Tailift Group
10.19 Toyota Industries Corporation
10.20 UniCarriers Corporation

Lift Trucks Market Size - By Product, By Propulsion Type, By End Use, & Forecast 2024 - 2032