Battery-Electric Segment to Drive the Growth of Global Forklift Market

1. Battery-Electric Segment to Drive the Growth of Global Forklift Market The report "Forklift Market by Application (Manufacturing, Wholesale & Retail Distribution, Freight, & Logistics), Fuel (Diesel, Electric, and Gasoline & LPG/CNG), Tonnage (<5, 5-10, 11-36, and >36), Class (1, 2, 3, and 4/5), and Region - Global Forecast to 2021", The global forklift market is projected to grow at a CAGR of 1.93%, from USD 16.00 Billion in 2016 to USD 17.61 Billion by 2021. Browse 67 market data tables and 57 figures spread through 141 pages and in-depth TOC on “Forklift Market by Application (Manufacturing, Wholesale & Retail Distribution, Freight, & Logistics), Fuel (Diesel, Electric, and Gasoline & LPG/CNG), Tonnage (<5, 5-10, 11-36, and >36), Class (1, 2, 3, and 4/5), and Region - Global Forecast to 2021” https://www.marketsandmarkets.com/Market-Reports/forklift-market-2439790.html Early buyers will receive 10% customization on reports. In terms of volume the market is expected to reach 1.5 Million units by 2021. The major factors behind the growth of the forklift market is the increase in e-commerce and warehouse segment and the technological advancements being acquired by the industries and warehouses. The class 3 types of forklift are estimated to be the fastest growing in the global forklift market The class 3 type of forklift mainly includes electric warehouse pedestrian trucks. The demand for these vehicles are increasing due to increasing trend of electric forklift being used by the material handling departments and warehouses, as electric forklift are environment friendly and more efficient than Internal Combustion Engine (ICE) forklift. The wholesale and retail distribution is estimated to be the fastest growing segment The wholesale and retail distribution segment of the global forklift market is projected to grow at the highest CAGR during the forecast period. As enhanced transportation network between different countries and continents has led to the increased stocking of goods in warehouses which are further distributed through the wholesalers and distributors. The European market of the wholesale and retail distribution segment was estimated to be the largest. The battery-operated forklift is estimated to dominate this segment as battery- operated forklifts have proven to be energy efficient, eco-friendly, and economical for distribution applications. The battery-electric segment is estimated be the fastest growing during the forecast period. With the increased focus on fuel efficiency and emission norms, a majority of the forklift manufactures are focusing on battery operated and fuel cell powered forklifts in order to provide better efficiency.

2. The manufacturing segment is estimated to hold largest market size of forklifts in 2016, Owing to rise in demand for infrastructural development. However warehouse segment is expected to lead the market by 2021 majorly due to increasing number of warehouses being set up across the regions, reducing trade barriers between various regions, and preference towards low cost alternatives. The wholesale and retail distribution is projected to grow at the highest CAGR from 2016 to 2021. The below 5 ton capacity segment is estimated to record the largest market size, growing at a CAGR mentioned in the report. The below 5 ton capacity forklifts includes all type of fuel but are majorly battery- electric forklift. These electric forklifts are being adopted rapidly as they are environment friendly and relatively silent during operation, have low operational & maintenance costs, and are easier to operate than the ICE forklifts. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=2439790 Europe is estimated to be the fastest growing region for the forklift market The European forklift market is projected to be the fastest growing market of forklift owing to the increased demand of battery operated vehicles and warehouse segment growth, it contributes a major market share of the global forklift market. The European forklift market is dominated by Germany, which is the key market for the forklifts in the region owing to the increased demand from manufacturing as well as warehouse segment in the country. Asia-Pacific market is estimated to be the largest market with a highest market share of the global forklift market by value and volume. As of 2016, the adoption of forklift in the Indian and Chinese market is estimated to be low, but this trend is projected to increase rapidly in the near future. The Class 3 type of forklift is estimated to be the fastest growing in forklift market. The class 3 includes electric warehouse pedestrian trucks. It is estimated to grow at CAGR as mentioned in the report. This is due to the increasing trend of electric forklift being used by the material handling departments and warehouses, as electric forklift are environment friendly and more efficient than ICE forklift along with cost advantage. The major players such as Toyota Industries Corporation (Japan), KION Group AG (Germany), Hyster-Yale Material handling Inc. (U.S.), Jungheinrich group (Germany) and Mitsubishi Nichiyu Forklift Corporation (Japan) are the global forklift manufacturers who have been covered in this study. The global forklift market consists of various major manufacturers such as Toyota Industries Corporation (Japan), KION Group AG (Germany), Hyster-Yale Material handling Inc. (U.S.), Jungheinrich group (Germany), Mitsubishi Nichiyu Forklift Corporation (Japan), Crown Equipment Corporation (U.S), Hyundai Heavy Industries (South Korea) and Komatsu Limited (Japan). Request Sample: https://www.marketsandmarkets.com/requestsample.asp?id=2439790

3. Target Audience Forklift manufacturers Forklift engine manufacturers Forklift attachment manufacturers Forklift battery manufacturers About MarketsandMarkets MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers. We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository. Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com