Global High Capacity Forklift Truck Market is Segmented By Load Capacity (Below 10 Ton, 10 Ton to 20 Ton, Above 10 Ton), By Fuel Type (Electric, Diesel, Gasoline, Others), By Application (Ports, Warehouses, Construction Sites, Manufacturing Sites), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
High Capacity Forklift Truck Market Overview
The global high capacity forklift truck market is projected to growing at a CAGR of 13.2% during the forecast period (2023-2030).
High capacity forklift trucks are powerful heavy-duty machines designed to lift and move heavy loads in industrial and commercial settings. These machines can lift loads weighing several tons to heights of over 30 feet, making them an essential piece of equipment for many industries, including manufacturing, construction and logistics. High capacity forklift trucks are available in various sizes and configurations to suit different applications. They can be powered by electric, diesel or propane engines and are available with a range of features, including telescopic booms, side-shifters and tilting forks. Some models also have advanced safety features, such as cameras and sensors, to detect obstacles and improve operator visibility.
High Capacity Forklift Truck Market Scope
|
Metrics |
Details |
|
CAGR |
13.2% |
|
Size Available for Years |
2021-2030 |
|
Forecast Period |
2023-2030 |
|
Data Availability |
Value (US$) |
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Segments Covered |
Load Capacity, Fuel Type, Application and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
Asia-Pacific |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Load Capacity Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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High Capacity Forklift Truck Market Dynamics
Increasing demand for automation and safety in material handling
Automation allows for greater precision and efficiency in material handling operations, reducing the risk of errors and improving productivity. High capacity forklift trucks with advanced automation capabilities, such as autonomous navigation and inventory management systems, can help companies achieve these efficiencies. With the increasing focus on safety in the workplace, the demand for high capacity forklift trucks with advanced safety features is on the rise. Forklifts with collision detection sensors, automatic speed reduction and other safety features help reduce the risk of accidents and injuries in the workplace. Therefore, the increasing demand for automation and safety in material handling is driving the global high capacity forklift truck market as companies seek to improve efficiency, safety and flexibility in their operations.
High initial investment cost
The high initial investment cost is one of the major challenges that can hinder the growth of the global high capacity forklift truck market. The high capacity forklift trucks are expensive due to their specialized design, larger size and increased load capacity. It makes them less accessible to small and medium-sized enterprises (SMEs) with limited budgets, which limits the potential market size. Moreover, the high initial investment cost can also lead to longer payback periods, making it difficult for some companies to justify the investment. It can be particularly challenging for companies that require only occasional use of high capacity forklift trucks, as the cost-benefit analysis may not justify the investment.
High Capacity Forklift Truck Market Segment Analysis
The global high capacity forklift truck market is segmented based on load capacity, fuel type, application and region.
Owing to their long operating hours and power reliability, diesel fuel type forklift trucks are dominating the global market
Traditionally, diesel-powered forklift trucks have been the most commonly used in the high capacity forklift truck market due to their power, reliability and availability. in general, high capacity forklift trucks that use diesel fuel typically run on standard diesel fuel, which is widely available globally and offers a good balance of performance and cost-effectiveness. Some high capacity forklift trucks may also use ultra-low sulfur diesel (ULSD), which has a lower sulfur content and emissions than standard diesel fuel. However, diesel-powered forklift trucks are likely to remain popular for applications requiring high lifting capacities and long operating hours.
Source: DataM Intelligence Analysis (2023)
High Capacity Forklift Truck Market Geographical Share
The growing manufacturing and logistics industry supports the expansion of the Asia-Pacific market
The Asia-Pacific is one of the largest and fastest-growing markets for high capacity forklift trucks. It has been a significant contributor to the growth of the global high capacity forklift truck market in recent years. The growth of the manufacturing and logistics sectors in the region has also contributed to the increased demand for high capacity forklift trucks. Many regional companies are investing in automation and upgrading their material handling equipment to improve efficiency and productivity, leading to increased demand for high capacity forklift trucks with advanced features and capabilities.
Source: DataM Intelligence Analysis (2023)
High Capacity Forklift Truck Market Companies
The major global players include Toyota Material Handling, Hyster-Yale Materials Handling, Inc., Mitsubishi Logisnext Co., Ltd., Crown Equipment Corporation, Komatsu Ltd., Anhui Heli Co., Ltd., Hangcha Group Co., Ltd., Lonking Holdings Limited and Hyundai Heavy Industries Co., Ltd.
COVID-19 Impact Analysis
By Load Capacity
- Below 10 Ton
- 10 to 20 Ton
- Aove 20 Ton
By Fuel Type
- Electric
- Diesel
- Gasoline
- Others
By Application
- Ports
- Warehouses
- Construction Sites
- Manufacturing Sites
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- On April 22, 2021, With load capacities ranging from 2000 to 3300 kg, Clark launched a fresh range of diesel forklifts. The L-Series was developed with the Middle Eastern and African markets in consideration, with a focus on good value. Clark has identified the excellent mix between quality and price with the L-Series.
- In November 2020, One of the major material handling companies in the world, Crown Equipment Corporation, announced the addition of the V-Force Lead-Acid Battery brand to its lineup of forklift batteries, chargers and accessories. The expansion strengthens Crown's position as a one-stop shop for lift trucks, power solutions and services that keep them operating at their best.
- In April 2020, Yale Europe Materials Handling introduced four new trucks for low-intensity applications as part of a ground-breaking extension of its product line. Yale discovered a need for materials-handling devices designed to offer high levels of efficiency and productivity. Two new warehouse trucks, the MS15UX pedestrian stacker and the MP20XUX platform pallet truck and two new counterbalance trucks, the GP20-35UX and the four-wheel electric ERP15-35UX, are all part of the Yale range extension. The platform pallet truck has a capacity of 2.0t and offers the option of motorized steering, whereas the pedestrian stacker has a lifting capacity of 1.5t.
The global high capacity forklift truck market report would provide approximately 61 tables, 59 figures and 180 Pages.
