According to the business intelligence report titled ‘GLOBAL Forklift Truck Market 2019-2027’, available with Market Study Report, global forklift truck market is projected to expand at an annual rate of 2% between 2019-2027.
 

Expansion of manufacturing sector, in consort with proliferation of e-commerce vertical leading to surge in warehouse capacity, are key factors driving global forklift truck market growth. Furthermore, development of modern technology for material handling equipment, and adoption of eco-friendly logistics solutions will boost the industry outlook.
 

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On the other hand, shortage of raw material suppliers, and strict rules & regulations by national governments are hindering worldwide forklift truck market expansion matrix.
 

The report studies the market space at micro and macro level systemically by segregating it into segments based on region, products, applications, and end users. Moreover, it provides predictions about growth rate, sales amassed, and revenue generated by each segment over the forecast period.
 

Based on product gamut, global forklift truck industry is segmented into warehouse forklift, and counterbalance forklift. Speaking of power source, the industry is segregated into internal combustion engine, and electric motor. While various end-users include logistics, retail & wholesale, automotive, food industry, and others.
 

From regional frame of reference, Asia Pacific held majority of the global forklift truck market share is the recent past and is projected to showcase lucrative growth trends over the analysis timeframe. High economic growth, rising investments in construction sector, and amplifying e-commerce vertical are positively swaying the business dynamics.
 

Moreover, governments in various Asia-Pacific countries are providing support to develop their manufacturing sector. For example, Make in India, Made in China 2025, and Australian Venture Capital Limited Partnership Program are some of the initiatives announced which are slated to facilitate growth of forklift truck market in Asia Pacific.
 

Key players profiled in global forklift truck market report are Toyota Industries Corporation, Godrej & Boyce Manufacturing Co. Ltd., Hyundai Heavy Industries Co. Ltd., Kion Group AG, Crown Equipment Corporation, Doosan Corporation Industrial Vehicle, Clark Material Handling Company, Hyster-Yale Materials Handling Inc., Mitsubishi Logisnext Co. Ltd., Komatsu Ltd., Hangcha Group Co. Ltd., Lonking Holdings Limited, Jungheinrich AG,  Anhui Heli Co. Ltd., and EP Equipment Co. Ltd. These companies have taken strategic decisions like mergers, acquisitions, partnerships, investments which gives them a competitive advantage and maximize profits.