A recent market intelligence report that is published by Data Insights Partner on the global Forklift Truck Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Forklift Truck Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Forklift Truck Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Forklift Truck Market is offered. In accordance with the report, the global Forklift Truck Market is projected to expand at a CAGR of 7.3 % over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
A forklift truck is a power industrial truck which is used to lift and move heavy and bulk materials from one place to another. Use of Forklift trucks have become indispensable for warehousing and manufacturing industries.
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There has been an ever increase demand for consumer goods, thereby increasing the requirement for warehousing space for storage of the goods and products. These products are then distributed to retail stores via pallets and cases. A forklift is specially used to arrange and place such materials in an organized way, to reduce time and space and cause minimum damage. With an increase in demand of warehousing facilities specially due to growth of e-commerce industry, the global Forklift Truck market is expected to grow considerably over the forecast period. Forklifts enhances the efficiency, thereby reducing the operation cost. There has been an increase in initiatives taken by the Government related to the development of infrastructure, and this rise in investment in the infrastructure industry may also propel the growth of this market.
However, there has been a tremendous rise in accidents related to forklift trucks. Forklift trucks can be operated only by operators who have acquired forklift training and are certified. These trainings must adhere to national standards. There has been an increasing number of occupational hazards, safety issues and accidents caused by forklifts and this can restrain the growth of global forklift truck market globally.
The rapid growth of industries like e-commerce and construction in emerging economies like APAC led by China and Japan made it the largest forklift truck market in 2019 and is expected to lead the market in the forecast period.
There have been many discoveries in the field of technology and many manufacturers are now introducing new features to facilitate the industry and low expenditure consuming technologies. New systems have been introduced by various manufacturers like Pedestrian Detection System and Ultrasound radars and RF systems wherein sensors are placed to detect objects and pedestrians from a few centimeters to several meters, alerting the driver of the potential risk of an accident.
This market intelligence report on the global Forklift Truck Market encompasses market segments based on product type, class, fuel type, power source, technology, end users and country/regions.
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In terms of product type, the global Forklift Truck Market is segregated into
- Warehouse Forklift
- Counterbalance Forklift
By class, the global Forklift Truck Market is also classified into,
- Class 1
- Class 2
- Class 3
- Class 4
- Class 5
By fuel type, the global Forklift Truck Market is also classified into,
- IC Engine Powered
- Motorized Hand
- Electric Powered
By power source, the global Forklift Truck Market is also classified into,
- Internal Combustion Engine
- Electric Motor
By end users, the global Forklift Truck Market is also classified into,
- Transportation & Logistics
- Retails & Wholesale Industry
- General Manufacturing
- Food & Beverage Industry
- Natural Resources
By country/region, the global Forklift Truck Market has been divided into
- North America (the U.S., Canada),
- Latin America (Brazil, Mexico, Argentina and other countries),
- Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
- Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
- Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as
- Anhui Heli Co. Ltd
- Clark Medical Handling Company
- Crown Equipment Corporation
- Doosan Corporation Industrial Vehicle
- Ep Equipment Co. Ltd
- Godrej & Boyce Manufacturing Company Limited
- Hangcha Group Co. Ltd
- Hyster – Yale Materials Handling Inc.
- Jungheinrich AG
- Kion Group AG
- Komatsu Ltd
- Lonking Holdings Limited
- Mitsubishi Logisnext Co. Ltd
- Toyota Industries Corporation
- Unicarriers Americas Corporation
- Hyster – Yale Materials Handling
- Hyundai Heavy Industries and many more
Others players have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Forklift Truck related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Ø This study offers comprehensive yet detailed analysis of the Forklift Truck Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020 – 2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Forklift Truck Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø Leading market players covered this report comprise names such as Anhui Heli Co. Ltd, Clark Medical Handling Company, Crown Equipment Corporation, Doosan Corporation Industrial Vehicle, EP Equipment Co. Ltd., Godrej & Boyce, Hangcha Group Co. Ltd., Hyster – Yale Material Handling Inc., Hyundai Heavy Industries Co. Ltd., Jungheinrich AG, Kion Group AG, Komatsu Ltd., Lonking Holding Limited, Mitsubishi Logisnext Co. Ltd., Toyoto Industries Corporation, Unicarriers Americas Corporation, and many more.
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Forklift Truck Market caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Forklift Truck Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
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v Identification of key factors driving investment opportunities in the Forklift Truck Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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