Warehouse Expansions to Drive the Forklift Truck Market

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Warehouse Expansions to Drive the Forklift Truck
Market Triton Market Research presents the Global
Forklift Truck Market report sectioned by Product
Type (Warehouse Forklift, Counterbalance
Forklift), Power Source (Internal Combustion
Engine, Electric Motor), Class (Class 4, Class 2,
Class 1, Class 3, Class 5) End-user (Retail
Wholesale, Logistics, Manufacturing, Automotive,
Food Industry, Other End-users), and Regional
Outlook (Europe, Asia- Pacific, Latin America,
Middle East and Africa, North America). The
report further discusses the Market Summary,
Industry Outlook, Impact of COVID-19, Key
Insights, Porters Five Forces Analysis, Key
Impact Analysis, Market Attractiveness Index,
Vendor Scorecard, Regulatory Framework, Key
Market Strategies, Drivers, Challenges,
Opportunities, Competitive Landscape, Research
Methodology Scope, Global Market Size,
Forecasts Analysis (2022-2028). Triton Market
Researchs report suggests that the global
forklift truck market is anticipated to witness
progress at a CAGR of 7.62 throughout the
forecast period 2022-2028.
Request Free Sample Report https//www.tritonmark
etresearch.com/reports/forklift-truck-marketreque
st-free-sample Forklifts are motorized vehicles
that lift and place discrete loads in a specific
facility. They have forks for precise
pallet-based unit loading and can be used with
various platforms such as grippers, platforms,
and clamps. E-commerce is expected to grow
significantly over the forecast period,
increasing demand for warehouse automation.
Forklifts are often used in warehouses to load
and unload goods. Their benefits have led various
companies to invest in advancing warehouse
facilities. For instance, Flipkart announced a
2.5 billion net investment in India to improve
logistics and warehousing
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capabilities. Similarly, IKEA announced a 1
billion investment in its warehouse expansion in
India. Such high investments in logistics are
expected to fuel the forklift truck markets
growth. However, the volatile cost of raw
materials increases the operational costs for
manufacturers, which is anticipated to negatively
impact the market during the forecast
period. Globally, the Asia-Pacific is estimated
to be the fastest-growing region in the forklift
truck market. The expanding construction sector,
the establishment and expansion of warehouses,
and the rising e-commerce industry have elevated
the demand for forklift trucks. They are
primarily used in construction, e-commerce,
manufacturing utilities, and ports to transfer
goods efficiently. Hence, the use of these trucks
for various production applications is
anticipated to drive the growth of the studied
market in the region. The established companies
thriving in the forklift truck market are
Mitsubishi Logisnext Co Ltd, Hyundai Heavy
Industries Co Ltd, Komatsu Ltd, Doosan Group,
Kion Group AG, Toyota Industries Corporation,
Anhui Heli Co Ltd, Clark Material Handling
Company, Hyster-Yale Materials Handling Inc,
Lonking Holdings Limited, Ep Equipment Co Ltd,
Godrej Boyce Manufacturing Company Limited,
Jungheinrich AG, Hangcha Group Co, and Crown
Equipment Corporation. The threat of new entrants
in the market is expected to remain moderate over
the forecast period. E-commerce is a significant
emerging market with the widespread adoption of
small and large parcel lifts and effective
warehouse management. This trend is expected to
soar over the forecast period, owing to the rise
in the availability of electric forklift trucks
with heavy payload capacities at a more effective
cost. This is anticipated to increase forklift
adoption and attract more companies to enter the
market. Contact Us sales_at_tritonmarketresearch.c
om Phone [phone]