List of Contents

Forklift Market Size, Share, and Trends 2024 to 2034

The global forklift market size is calculated at USD 90.97 billion in 2025 and is forecasted to reach around USD 163.48 billion by 2034, accelerating at a CAGR of 6.73% from 2025 to 2034. The Asia Pacific forklift market size was evaluated at USD 50.94 billion in 2025 and is expanding at a CAGR of 6.83% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.

  • Last Updated : January 2025
  • Report Code : 1032
  • Category : Automotive

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Forklift Market 

5.1. COVID-19 Landscape: Forklift Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Forklift Market, By Class

8.1. Forklift Market Revenue and Volume, by Class, 2025-2034

8.1.1. Class 1

8.1.1.1. Market Revenue and Volume Forecast (2022-2034)

8.1.2. Class 2

8.1.2.1. Market Revenue and Volume Forecast (2022-2034)

8.1.3. Class 3

8.1.3.1. Market Revenue and Volume Forecast (2022-2034)

8.1.4. Class 4/5

8.1.4.1. Market Revenue and Volume Forecast (2022-2034)

Chapter 9. Global Forklift Market, By Power Source

9.1. Forklift Market Revenue and Volume, by Power Source, 2025-2034

9.1.1. ICE

9.1.1.1. Market Revenue and Volume Forecast (2022-2034)

9.1.2. Electric

9.1.2.1. Market Revenue and Volume Forecast (2022-2034)

Chapter 10. Global Forklift Market, By Load Capacity 

10.1. Forklift Market Revenue and Volume, by Load Capacity, 2025-2034

10.1.1. Below 5 Ton

10.1.1.1. Market Revenue and Volume Forecast (2022-2034)

10.1.2. 5-15 Ton

10.1.2.1. Market Revenue and Volume Forecast (2022-2034)

10.1.3. Above 16 Ton

10.1.3.1. Market Revenue and Volume Forecast (2022-2034)

Chapter 11. Global Forklift Market, By Electric Battery Type

11.1. Forklift Market Revenue and Volume, by Electric Battery Type, 2025-2034

11.1.1. Li-ion

11.1.1.1. Market Revenue and Volume Forecast (2022-2034)

11.1.2. Lead Acid

11.1.2.1. Market Revenue and Volume Forecast (2022-2034)

Chapter 12. Global Forklift Market, By End Use

12.1. Forklift Market Revenue and Volume, by End Use, 2025-2034

12.1.1. Industrial

12.1.1.1. Market Revenue and Volume Forecast (2022-2034)

12.1.2. Logistics

12.1.2.1. Market Revenue and Volume Forecast (2022-2034)

12.1.3. Chemical

12.1.3.1. Market Revenue and Volume Forecast (2022-2034)

12.1.4. Food & Beverage

12.1.4.1. Market Revenue and Volume Forecast (2022-2034)

12.1.5. Retail & E-Commerce

12.1.5.1. Market Revenue and Volume Forecast (2022-2034)

12.1.6. Others

12.1.6.1. Market Revenue and Volume Forecast (2022-2034)

Chapter 13. Global Forklift Market, Regional Estimates and Trend Forecast

13.1. North America

13.1.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.1.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.1.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.1.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.1.5. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.1.6. U.S.

13.1.6.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.1.6.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.1.6.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.1.6.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.1.6.5. Market Revenue and Volume Forecast, by End Use (2022-2034) 

13.1.7. Rest of North America

13.1.7.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.1.7.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.1.7.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.1.7.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.1.7.5. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.2. Europe

13.2.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.2.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.2.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.2.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034) 

13.2.5. Market Revenue and Volume Forecast, by End Use (2022-2034) 

13.2.6. UK

13.2.6.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.2.6.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.2.6.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.2.7. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034) 

13.2.8. Market Revenue and Volume Forecast, by End Use (2022-2034) 

13.2.9. Germany

13.2.9.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.2.9.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.2.9.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.2.10. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.2.11. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.2.12. France

13.2.12.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.2.12.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.2.12.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.2.12.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.2.13. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.2.14. Rest of Europe

13.2.14.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.2.14.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.2.14.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.2.14.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.2.15. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.3. APAC

13.3.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.3.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.3.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.3.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.3.5. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.3.6. India

13.3.6.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.3.6.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.3.6.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.3.6.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.3.7. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.3.8. China

13.3.8.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.3.8.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.3.8.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.3.8.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.3.9. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.3.10. Japan

13.3.10.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.3.10.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.3.10.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.3.10.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.3.10.5. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.3.11. Rest of APAC

13.3.11.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.3.11.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.3.11.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.3.11.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.3.11.5. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.4. MEA

13.4.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.4.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.4.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.4.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.4.5. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.4.6. GCC

13.4.6.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.4.6.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.4.6.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.4.6.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.4.7. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.4.8. North Africa

13.4.8.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.4.8.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.4.8.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.4.8.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.4.9. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.4.10. South Africa

13.4.10.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.4.10.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.4.10.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.4.10.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.4.10.5. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.4.11. Rest of MEA

13.4.11.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.4.11.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.4.11.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.4.11.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.4.11.5. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.5. Latin America

13.5.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.5.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.5.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.5.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.5.5. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.5.6. Brazil

13.5.6.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.5.6.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.5.6.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.5.6.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.5.7. Market Revenue and Volume Forecast, by End Use (2022-2034)

13.5.8. Rest of LATAM

13.5.8.1. Market Revenue and Volume Forecast, by Class (2022-2034)

13.5.8.2. Market Revenue and Volume Forecast, by Power Source (2022-2034)

13.5.8.3. Market Revenue and Volume Forecast, by Load Capacity (2022-2034)

13.5.8.4. Market Revenue and Volume Forecast, by Electric Battery Type (2022-2034)

13.5.8.5. Market Revenue and Volume Forecast, by End Use (2022-2034)

Chapter 14. Company Profiles

14.1. Anhui Heli Co., Ltd.

14.1.1. Company Overview

14.1.2. Product Offerings

14.1.3. Financial Performance

14.1.4. Recent Initiatives

14.2. Clark Material Handing Company, (Clark Equipment Company)

14.2.1. Company Overview

14.2.2. Product Offerings

14.2.3. Financial Performance

14.2.4. Recent Initiatives

14.3. Crown Equipment Corporation

14.3.1. Company Overview

14.3.2. Product Offerings

14.3.3. Financial Performance

14.3.4. Recent Initiatives

14.4. Doosan Corporation

14.4.1. Company Overview

14.4.2. Product Offerings

14.4.3. Financial Performance

14.4.4. Recent Initiatives

14.5. Hangcha

14.5.1. Company Overview

14.5.2. Product Offerings

14.5.3. Financial Performance

14.5.4. Recent Initiatives

14.6. Forklift Co., Ltd.

14.6.1. Company Overview

14.6.2. Product Offerings

14.6.3. Financial Performance

14.6.4. Recent Initiatives

14.7. Toyota Motor Corporation (Toyota Material Handling)

14.7.1. Company Overview

14.7.2. Product Offerings

14.7.3. Financial Performance

14.7.4. Recent Initiatives

14.8. Hyster-Yale Materials Handling, Inc. (Hyster-Yale Group, Inc.)

14.8.1. Company Overview

14.8.2. Product Offerings

14.8.3. Financial Performance

14.8.4. Recent Initiatives

14.9. Jungheinrich AG

14.9.1. Company Overview

14.9.2. Product Offerings

14.9.3. Financial Performance

14.9.4. Recent Initiatives

14.10. KION Group AG

14.10.1. Company Overview

14.10.2. Product Offerings

14.10.3. Financial Performance

14.10.4. Recent Initiatives

Chapter 15. Research Methodology

15.1. Primary Research

15.2. Secondary Research

15.3. Assumptions

Chapter 16. Appendix

16.1. About Us

16.2. Glossary of Terms

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Frequently Asked Questions

The global forklift market size is expected to increase USD 85.23 billion by 2024 from USD 163.48 billion in 2034.

The global forklift market will register growth rate of 6.73% between 2025 and 2034.

The major players operating in the forklift market are Anhui Heli Co., Ltd., Clark Material Handing Company, (Clark Equipment Company), Crown Equipment Corporation, Doosan Corporation,Hangcha, Forklift Co., Ltd., Toyota Motor Corporation (Toyota Material Handling), Hyster-Yale Materials Handling, Inc. (Hyster-Yale Group, Inc.), Jungheinrich AG, KION Group AG, Komatsu Ltd., Mitsubishi Logisnex, and Others.

Asia Pacific region will lead the global forklift market during the forecast period 2025 to 2034.

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