Global Forklift Market: Brief Overview

The demand for forklift or forklift truck, also known as lift truck or folk truck is increasing on account of its extensive use for lifting and moving materials from one place to another in warehouse and manufacturing operations. The use of a forklift for material handling for short and medium distance is the main factor behind its accelerated demand from the auto industry, retail, brick or stone distribution, manufacturing, heavy-duty warehousing, paper ruling, and shipping and freight industries.

There are different classes of forklifts. Class 1 forklifts are used on smooth floors and mainly for indoor operations. Class 2 forklift are used in narrow isle and  in  maximizing storage space in organizations. Class 3 forklift are manually operated. Class 4 and 5 forklifts are used for transporting palletized loads from loading dock to storage area.

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Global Forklift Market: Trends And Opportunities

There is an increasing trend of hydrogen powered trucks as they are eco-friendly and cost effective. Forklifts powered by such fuel cell technologies have several benefits such as smooth operation in freezing weather and reduced need for battery replacement, and this will fuel their deman .

On the basis of application, the global forklift market is segmented into warehousing, manufacturing, freight and logistics, distribution, and others. On the basis of tonnage capacity, this market is segmented into 11 to 36 tons and greater than 36 tons, 5 to 10 tons, and less than 5 tons. On the basis of fuel type, this market is segmented into diesel, gasoline, compressed natural gas or CNG, electric battery, and LPG or liquid propane gas. The report discusses the leading, the declining, and the fastest growing segments and sub-segments.

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