Precision Business Insights has published a report on the global forklift market, estimating its value at USD 63,465 Million in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 2.8% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/forklift-market

The forklift market includes a diverse spectrum of material handling equipment used to lift and transport things over short distances in warehouses, industries, ports, and construction sites. Forklifts differ by class, power source (electric, internal combustion, fuel cell), lifting capacity, and application.

Drivers:

• Demand for safer, operator-friendly designs is influencing product innovation and compliance standards.
• Global expansion of roads, ports, and industrial zones boosts forklift usage in construction and logistics.

The global forklift market segmentation:

1) By Class: Class 1, Class 2, Class 3, and Class 4

2) By Power: Source ICE and Electric

3) By Load Capacity: Below 5 Ton, 5-15 Ton, and Above 16 Ton

4) By Operational Type: Manual and Autonomous

5) By Electric Battery Type: Li-ion and Lead Acid

6) By End User: Mining, Manufacturing, Retail & Wholesale, Logistics, Construction, Automotive, Food & Beverages, Natural Resources, and Others

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Regional Overview:
The report also examines the current concerns and their Future Effects on the forklift market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the forklift market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.

• North America (U.S., Canada)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
• Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
• Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

The competitive landscape is dominated by major players like Toyota Industries Corporation, Anhui Heli Co. Ltd, Cargotec Corporation, Clark Material Handling Company Inc, Crown Equipment Corporation, Hangcha Group Co., Hyster Yale Materials Handling Inc, Jungheinrich AG, KION Group, Mitsubishi Heavy Industries Ltd.

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