Forklift Market COVID-19 Impact Analysis By Segmentations, Key Company Profiles & Demand 1 ©P&SIntelligence.Allrightsreserved
Rising significantly from 2017, the share of the e-commerce sector in the total global retail sales reached 14% in 2018. Further, by 2021, almost 17% of the total retail sales across the world are expected to be made through online shopping channels. This is because such platforms offer customers the price flexibility and fast delivery service they are looking for. This factor is expected to propel the global forklift market, which garnered $33,878.7 million revenue in 2019, to $42,519.4 million by 2030, at a 2.8% CAGR between 2020 and 2030. This is because, to meet the rising number of online shopping orders, e-commerce and logistics firms are focusing on increasing their operational efficiency by deploying such vehicles. In addition, with the shelf height increasing and aisle width decreasing at warehouses, new forklifts, especially designed for such constraints, are witnessing rising sales. Get the sample copy this report @ https://www.psmarketresearch.com/market- analysis/forklift-market/report-sample Like companies across various other sectors, forklift manufacturers are also subject to the ill- effects of the COVID-19 situation. Due to the ceasing of manufacturing activities, companies offering forklifts as well as their components would need to alter their strategies and come up with a more-efficient supply chain model. The ripple effects of the current shutdown in several countries are expected to be witnessed till at least the entire 2021. During 2014–2019, class 5 forklift trucks generated the highest revenue in the industry, owing to their high popularity in emerging economies, such as China and India. They are preferred for heavy-lift applications, especially in places where the risk of tire punctures is high, as such vehicles have pneumatic tires. Their payload capacity is between 3,000 and 55,000 pounds (1,360 and 25,000 kg), which makes them suitable for heavy lifting. Presently, Asia-Pacific (APAC) is the most lucrative forklift market, due to the rapid growth in the automotive and retail industries in India, South Korea, Japan, and China. In addition, regional governments are implementing strict mandates for security and safety at the workplace, which is leading to the quick deployment of such trucks. In the years to come, the fastest rise in the adoption of forklift vehicles would be seen in the Latina America, Middle East & Africa (LAMEA) region, on account of the swift industrialization and popularity of the warehousing model. Make enquiry?enquiry-url=forklift-market enquiry about this report @ https://www.psmarketresearch.com/send- The most prominent players in the global forklift market include KION Group AG, Toyota Industries Corp., Hyster-Yale Materials Handling Inc., Jungheinrich AG, Mitsubishi Logisnext Co. Ltd., Crown Equipment Corp., Hangcha Group Co. Ltd., Anhui Forklift Truck Group Corp., Doosan Corp., and Komatsu Ltd.
Market Segmentation by Class •Class 1 •Class 2 •Class 3 •Class 4 •Class 5 Market Segmentation by Product •Counterbalance •Warehouse Market Segmentation by Engine Type •Internal Combustion Engine (ICE) •Electric Market Segmentation by Region •North America oBy class oBy product oBy engine type oBy country – U.S. and Canada •Europe oBy class oBy product oBy engine type oBy country – Germany, France, U.K., Spain, and Rest of Europe •APAC oBy class oBy product oBy engine type oBy country – China, Japan, South Korea, and Rest of APAC •LAMEA oBy class oBy product oBy engine type oBy country – Brazil, Mexico, South Africa, the U.A.E. and Rest of LAMEA This study covers •Historical and the present size of the Forklift Market •Major factors driving the market and their impact during the short, medium, and long terms •Market restraints and their impact during the short, medium, and long terms •Recent trends and evolving opportunities for the market participants •Historical and the present size of the market segments and understand their comparative future potential •Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
•Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders •Major players operating in the market and their service offerings •Recent strategic developments by the major players in the market 3 ©P&SIntelligence.Allrightsreserved
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