Forklift Trucks Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)

Forklift Trucks Industry Overview

Some of the key players in the forklift market are Komastu Ltd, Toyota Industries Corporation, KION Group AG, Hyster-Yale Material Handling Inc., Jungheinrich Group, Mitsubishi Nichiyu Forklift Corporation, and Crown Equipment Corporation. The market for forklifts witnessed various growth strategies, such as acquisitions, mergers, and collaborations, which market players adopted over the past few years. The market players are focusing on expanding their product portfolios to augment their revenue share. For instance:

• In January 2024, Hangcha's American subsidiary unveiled the innovative XE Series electric lithium-ion pneumatic forklift. This cutting-edge forklift can lift loads from 4,000 lb. (1.8 T) to 7,600 lb. (3.4 T). It has maintenance-free battery packs, three battery options, up to 11 hours of runtime, and heating elements for exceptional performance in cold weather.
• In December 2023, Kalmar expanded its manufacturing of electric reachstackers and Essential forklifts at its facility in Shanghai, enhancing its production capacity.
• In April 2023, Still GmbH introduced the first standardized electric forklift in the market segment for entry-level solutions. The RCE 25/35 series, the intralogistics expert, is expanding its portfolio and, for the first time, presents electric forklifts in the market segment for entry-level solutions.
• In February 2023, Doosan launched two new ranges of high-capacity electric counterbalance forklifts within the NXE Series, providing industrial users with a wide range including low-noise level, zero-emission, and environmentally friendly. The forklifts are capable of tackling heavy-duty tasks. Both ranges include a compact new design for greater maneuverability in tight spaces and are built to Doosan's exacting standards on durability and robust, reliable performance.