The global forklift market size is calculated at USD 84.39 billion in 2025 and is forecasted to reach around USD 264.41 billion by 2034, accelerating at a CAGR of 13.53% from 2025 to 2034. The Asia Pacific forklift market size was evaluated at USD 40.51 billion in 2025 and is expanding at a CAGR of 13.65% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
3.1. Market Snapshot
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
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
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
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)
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)
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)
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)
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)
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)
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
15.1. Primary Research
15.2. Secondary Research
15.3. Assumptions
16.1. About Us
16.2. Glossary of Terms
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