Global Forklift Trucks Market 2018-2022| Industry Analysis and Forecast| Technavio
LONDON--(BUSINESS WIRE)--Nov 13, 2018--The global forklift trucks market research report by predicts the market to post a CAGR of close to 6% during the period 2018-2022.
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Technavio has released a new market research report on the global forklift trucks market for the period 2018-2022. (Graphic: Business Wire)
A key driver for the global forklift trucks market is the rapid growth in e-commerce retail. E-commerce retail has been gaining preference among consumers owing to factors such as the diverse portfolio of product offerings, competitive pricing, and convenience in shopping. E-commerce has witnessed enormous growth in countries such as the US, India, and China. The global e-commerce market will grow rapidly during the forecast period due to several key e-commerce vendors expanding their market presence in APAC.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2018-2022. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the introduction of fuel cell powered forklift trucks as one of the key trends in the global forklift trucks market:
Global forklift trucks market: Introduction of fuel cell powered forklift trucks
Forklift truck manufacturers are increasingly focusing on R&D, which has resulted in a significant development in forklift trucks technology. Forklifts powered by hydrogen cells have already been introduced in the market. During the forecast period, the adoption of fuel cell powered forklifts will increase owing to the need for increased operational efficiency and presence of stringent regulations to reduce carbon emissions.
“The fuel cell powered forklifts increase the operational efficiency due to less downtime involved. Hydrogen cells need to be replaced only once in 10 years. The time taken to completely fill hydrogen-powered forklifts is 80-85% less when compared with battery-operated ones. In addition, the fuel cell powered forklifts provide consistent performance throughout a charge cycle,” says a senior analyst at Technavio for research on warehouse and storage.
Global forklift trucks market: Segmentation analysis
This forklift trucks market analysis report segments the market by class type (Class V type forklift trucks, Class III type forklift trucks, Class I type forklift trucks, Class II type forklift trucks, and Class IV type forklift trucks) and geography (the Americas, APAC, and EMEA).
The Class V type forklift trucks segment held the largest forklift trucks market share in 2017, accounting for more than 37% of the market. This segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2017 with approximately 40% of the market share, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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