Increasing Trend in E-Commerce and Warehouse Segment drives Forklift Market

According to the new market research report Forklift Market by Application (Manufacturing, Wholesale & Retail Distribution, Freight, & Logistics), Fuel (Diesel, Electric, and Gasoline & LPG/CNG), Tonnage (36), Class (1, 2, 3, and 4/5), and Region - Global Forecast to 2021, he less than 5 ton capacity majorly includes battery-electric forklifts as well as Internal Combustion Engine (ICE) forklifts but the battery-electric forklifts penetration in this segment is highest.

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The global forklift market is projected to grow at a CAGR of 1.93%, from USD 16.00 billion in 2016 to USD 17.61 billion by 2021. The base year for the report is 2015 and the forecast year is 2021.

The fastest growing market for the forklift is the Asia-Pacific market, which holds majority of the market share of the global forklift market by value and volume. As of 2016, the adoption of forklift in the Indian and Chinese market is estimated to be low, but this trend is projected to increase rapidly in the near future, as the Asian countries are developing in e-commerce and industrial manufacturing sectors. The European forklift market contributes major share to the global forklift market. The European forklift market is dominated by Germany, which is the key market for the forklifts in the region.

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• Global forklift market, by region & country (in value)
• Global forklift market, by application & region (in value)
• Profiling of additional market players (Up to 3)

The safety and emission regulations for forklifts have become increasingly stringent and complex in the past few years. The European Commission has now introduced Stage V regulation for Non-Road Mobile Machinery which will be regulated from 2019 and will help in reducing almost 95% emission level from pre-regulated era. The increasing stringent emission tier slabs might stand as a challenge for manufacturers of forklift vehicles, as sizable R&D investments are required to redesign the vehicles emission systems. The increase in wider range available in electric forklifts is also an important factor which is helping this segment to acquire market share of ICE forklifts.

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The major players such as Toyota Industries Corporation (Japan), KION Group AG (Germany), Hyster-Yale Material handling Inc. (U.S.), Jungheinrich group (Germany) and Mitsubishi Nichiyu Forklift Corporation (Japan) are the global forklift manufacturers who have been covered in this study.

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