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Lift Trucks Market Trends

  • Report ID: GMI9366
  • Published Date: May 2024
  • Report Format: PDF

Lift Trucks Market Trends

Lift trucks are witnessing significant technological advancements. Electric and alternative fuel-powered lift trucks have several benefits over classic ICE types. They produce fewer emissions, operate more quietly (making them appropriate for interior applications), and require less maintenance. Advancements in battery technology, such as Lithium-ion batteries with quicker charging periods and longer lifespans, are making electric lift trucks more appealing. Along with this, automation is revolutionizing the lift truck sector.
 

Automated Guided Vehicles (AGVs) and Automated Lift Trucks (ALTs) can follow specified courses and handle material moving duties without the need for a human driver. Warehouses and distribution facilities can benefit considerably from increased efficiency and production. Lift trucks are becoming more advanced in terms of safety, with autonomous braking systems, overload prevention, and operator presence sensors. These advancements can reduce accidents and create a safer working environment for operators and warehouse personnel.
 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market valuation of lift trucks was exceeded USD 84.4 billion in 2023 and is estimated to register over 7% CAGR between 2024 and 2032, owing to the growth of the warehouse and logistics industries.

The forklifts segment in the lift trucks market is projected to surprass USD 140 billion by 2032, driven by its use in material handling businesses to lift, move, and stack palletized products.

Asia Pacific lift trucks market held 39% revenue share in 2023, attributed to the rise in industrial activities, especially in China and India.

Anhui Forklift Truck Group Co., Ltd., Crown Equipment Corporation, Doosan Industrial Vehicle, Hangcha Group Co., Ltd., Hyster-Yale Materials Handling, Inc., Jungheinrich AG, KION Group, Komatsu Utility Co., Ltd., Mitsubishi Logisnext Co., Ltd. and Toyota Industries Corporation

Lift Trucks Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 400
  • Countries covered: 24
  • Pages: 250
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