The Market Reports

Synopsis
The global market for Electric Forklift was estimated to be worth US$ 20510 million in 2024 and is forecast to a readjusted size of US$ 29840 million by 2031 with a CAGR of 5.5% during the forecast period 2025-2031.
This report provides a comprehensive assessment of recent tariff adjustments and international strategic countermeasures on Electric Forklift cross-border industrial footprints, capital allocation patterns, regional economic interdependencies, and supply chain reconfigurations.
An electric forklift is a material handling vehicle powered by batteries (typically lead-acid or lithium-ion) rather than internal combustion engines. Designed for indoor use and environmentally sensitive environments, electric forklifts are widely used in warehouses, manufacturing plants, retail centers, and logistics hubs due to their clean operation, lower noise, and lower maintenance requirements.
The Electric Forklift market is experiencing strong, sustained growth driven by sustainability regulations, battery innovation, and the expansion of smart warehousing. With businesses increasingly shifting toward low-emission, efficient, and automated material handling solutions, electric forklifts are fast becoming the new industry standard. Companies that offer energy-efficient, digitally connected, and autonomous-ready forklifts are best positioned to lead this market transformation.
Market Trends
Shift to Lithium-ion Batteries: Rapid adoption due to longer battery life, fast charging, and zero maintenance. Integration of Smart Features: Telematics, fleet management, remote diagnostics, and operator monitoring systems. Sustainability Mandates: Companies adopting electric forklifts to meet carbon reduction and ESG goals. Growth of Autonomous Forklifts: Electric models are the base for AGVs and self-driving forklifts in smart warehouses. Rental and Fleet-as-a-Service Models: Shift from ownership to leasing for flexibility and reduced capex.
Key Market Drivers
Environmental Regulations: Ban on diesel-powered forklifts in indoor spaces and emissions control. Rising Warehouse Automation: E-commerce, 3PL, and retail sectors require clean and efficient MHE. Lower Total Cost of Ownership (TCO): Electric forklifts offer reduced energy costs and fewer maintenance needs. Government Incentives: Subsidies and tax benefits for adopting electric industrial equipment in several countries. Technological Advancements: Innovations in battery tech, power management, and safety features are boosting adoption.
This report aims to provide a comprehensive presentation of the global market for Electric Forklift, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Electric Forklift by region & country, by Type, and by Application.
The Electric Forklift market size, estimations, and forecasts are provided in terms of sales volume (K Units) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Electric Forklift.
Market Segmentation
By Company
Toyota
Kion
Jungheinrich
Mitsubishi Logisnext
Crown Equipment
Hyster-Yale
Anhui Heli
Hangcha
Clark Material Handling
Doosan Corporation Industrial Vehicle
Komatsu
Lonking
Hyundai Heavy Industries
EP Equipment
Manitou
Paletrans Equipment
Combilift
Hubtex Maschinenbau
Godrej & Boyce
Segment by Type
Class 1
Class 2
Class 3
Segment by Application
Warehouses
Factories
Distribution Centers
Others
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Electric Forklift manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Electric Forklift in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Electric Forklift in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Index