Pune, India, January 31, 2019 -- /360iResearch/ -- The report "Global Forklift Trucks Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2024 (Q4 2018 Update)", published by 360iResearch, states that the global market was valued at USD 34,927.57 million in 2017 and is projected to reach USD 53,891.57 million by 2024, growing at a CAGR of 6.39% from 2017 to 2024.
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The major forces driving the growth of the forklift trucks market include the rapidly growing warehouse establishments and increasing commercial space prices. Moreover, increasing demand for logistics in the manufacturing industry is also one of the factors that is driving the market growth. However lack of skilled labor, and limited availability of original components may hinder the market growth. In the middle of difficulty lies opportunity such as the rise in the adoption of green logistics solutions, and increasing penetration of e-commerce. The possible challenges for the market growth is high initial cost of purchase. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on class, the global forklift trucks market is studied across Electric & Internal Combustion Engine Tractors, Electric Motor Hand Trucks, Electric Motor Narrow Aisle Trucks, Electric Motor Rider Trucks, and Internal Combustion Engine Trucks. Based on power source, the global forklift trucks market is studied across Electric Motor, and Internal Combustion Engine. Based on end user, the global forklift trucks market is studied across Construction, Food & Beverages, Manufacturing, Retail, and Transportation and Logistics. Based on geography, the global forklift trucks market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the forklift trucks market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are Clark Material Handling Company Inc, Combilift Ltd, Crown Equipment Corp, Doosan Industrial Vehicles Co., Ltd, Godrej and Boyce Manufacturing Co., Ltd, Hyster-Yale Materials Handling Inc., Hyundai Heavy Industries Co., Ltd, Jungheinrich AG, KION Group, Komatsu Ltd, Mitsubishi Nichiyu Forklift Co, and Toyota Industries Corporation.
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