Pune, India, Jan. 23, 2023 (GLOBE NEWSWIRE) — The global forklift truck market size was valued 1,384.3 thousand units in 2020 and 1,418.9 thousand units in 2021 respectively. The global market size is expected to grow 1,908.6 thousand units by 2028, exhibiting a CAGR of 4.3% during the forecast period from 2021-2028.The global forklift trucks market is likely to witness considerable growth due to the product variations forklift trucks.
The increasing investment in the research and development of large capacity forklift trucks has paved way for growth for the companies operating in the global forklift trucks market. Increased adoption of e-commerce services and mining activities will fuel the demand for forklift trucks across the world. The report provides segmentation of the global forklift trucks market based on factors such as product types, applications, and regional demographics. Among all end-use applications, Fortune Business Insights has predicted that the manufacturing industry is likely to witness the highest growth during the forecast period owing to the high demand for the product across the world.
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Report Highlights:
Report Coverage
Details
Forecast Period
2021-2028
Forecast Period 2021 to 2028 CAGR
4.3%
2028 Value Projection
1,908.6 thousand units
Base Year
2020
Market Size in 2020
1,384.3 thousand units
Historical Data for
2017-2019
No. of Pages
120
Segments covered
By Application, By Type and By Region
Growth Drivers
Adoption of Electric Lift Truck is Propelling the Lift Truck Market
Mishandling of …
