1 / 3

Top 4 Industrial Applications of the Forklift Truck Market

The rising demand for transparency in the supply chain has soared their adoption to locate and transport goods, fueling the global forklift truck marketu2019s expansion

tritonmarketresearch
Download Presentation

Top 4 Industrial Applications of the Forklift Truck Market

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Top 4 Industrial Applications of the Forklift Truck Market Overthepastfewyears,digitalizationtrendshaveelevatedthedemandfore-commercewebsitesglobally.Withrisinginternetusers,e-retailsalessurpassedaround$5.2trillionworldwide.Giventheriseinonlineshoppinganddirect-to-consumershipments,lifttruckvolumesalesreachedover1.4billionunitsin2020.Further,therisingdemandfortransparencyinthesupplychainhassoaredtheiradoptiontolocateandtransportgoods,fuelingtheglobal forklift truck market’sexpansion. Overtheforecastperiod2022-2028,ourresearchreportindicatesthattheglobalforklifttruckmarketissettowitnessrobustrevenuegrowthataCAGRof7.62%. What’sliftingtheforkliftbusiness? Materialhandlingequipmentsignifiesthecollectionofproductsusedtoenhanceoperationalefficiencyandensureoptimumresourceutilization.Asaresult,forklifttrucksasequipmenthavegainedtractioninthefollowingindustries: 1.Intheretail&wholesalesector,forklifttruckshavegainedprominenceasakeysolutiontotransportahighvolumeofgoodswithminimaldamage.EstimatesindicateChinaandtheUScollectivelyaccountforaround31.4%shareoftheforklifttruckmarketforthesector.Moreover,retailbrandslikeAlibabaandLancomehavelaunchednewstoresofferingofflineloyaltyprogramstoattractcustomers,whichhasincreaseddemandforhandlingequipmentforwarehouseoperations.Inthisregard,warehouseforkliftsareawidelyusedproducttypeowingtotheirliftheightcapacityandmaneuverability.

  2. Thelogisticsindustry’sexpandingoperationshaveacceleratedtheadoptionoflifttruckstoenhanceproductivitywhilereducinglaborcosts.Estimatessuggestthatcounterbalanceforkliftswillgaintractionasareliablesensingsolutionforheavyloadsandhigh-speedmovementinlogistics.AccordingtoTriton’sanalysis,theAsia-Pacific forklift truck marketiswitnessingtremendousgrowthowingtogovernmentinvestmentstoboostforkliftadoptioninlogisticsforretrieving,stacking,etc. • Forklifttrucksintheautomotiveindustryareavailableinvariousliftingcapacitiesandmodelvariationsforbargehandling.Theirdeploymenthassoaredinrecentyearstoenhanceindustryproductivityandservicewhiledecreasingtotalcoststothecompany.Inthisscenario,electriclifttruckshaveemergedasaviableandeco-friendlysolutiontocompletetaskswithzeroemissionsanddamageduringproduction.Also,playerslikeMitsubhiCaterpillarForkliftAmericaIncandToyotahaveintroducedelectrictirelifttruckseriesandbatteryelectricwarehousemodels,respectively,toadvanceefficiencyandoperability. • Inthefood&beverageindustry,lifttrucksarebeingequippedwithadvancedtechnologytokeeppacewiththechangingdemandforcoldfoodprocessors.Thegrowingfoodstockmainlysupportsthesegment’sgrowth.Giventhisgrowth,forklifttrucksarewidelyoptedtodelivergoodsinlessertimeandcost.Moreover,theintegrationofadvancedtechnology,suchassensorsandAI,haselevatedtheiradoptioninthefoodindustry,thuswideningtheforklifttruckmarket’sscope. • WinningStrategiesbyNotablePlayers • Withindustrialexpansiontakingcenterstage,companiesareconcentratingondevelopingnewsolutionstocatertowarehousingneeds.Forinstance, • TheRaymondCorporationintroducedstandupforklifts,orderpickers,palletjacks,andpick2palletLEDlightsystemsforwarehouses. • TheRaymondCorporationalsointroducedtheiWarehouseEvolutionIntelligentForkliftTelematicsSystemtoreducecostbyanalyzingwarehousedata,therebyupkeepingtheoveralllifttrucksdemand. • ToyotaMaterialHandlingpartneredwithBastianSolutiontodevelopautonomousvehiclesformanufacturingfacilitiesanddistributioncenters. • HangchaunveiledanewrangeofelectricforkliftswithEPSwithpower-on-demandtechnologyandautomotivegearingthatensureslownoise. • HydrogenFuelCellForklifts:Anopportunisticpathway • Consideringtheacceleratedadoptionofelectricforklifts,manufacturersstrivetoexceedtheinternalcombustionengineperformance.Besides,environmentalconcernshaveboostedthedemandfor

  3. long-termandsustainablesolutionsacrossindustries,makinghydrogen-poweredvehiclesaremarkablesubstituteforconventionalmachinery.long-termandsustainablesolutionsacrossindustries,makinghydrogen-poweredvehiclesaremarkablesubstituteforconventionalmachinery. Sincefuelcellsareaviableoptionfordecarbonization,manufacturersareintroducinganewrangeofforkliftstogainacompetitiveedge.Forinstance,ToyotaMaterialHandlingintroducedanew3-wheeledfuelcelllifttruckwithhigh-performancebenefits.Thus,theproductionofhydrogenfuelcellforkliftsholdsalucrativegrowthopportunityfortheglobalmarket. Frequently Asked Questions (FAQs): Q1)Whicharethemajorend-usersintheforklifttruckmarket? Themajorend-userslistedintheforklifttruckmarketincludelogistics,food,manufacturing,automotive,etc. Q2)Howbigistheforklifttruckmarket? Theglobalforklifttruckmarketattained$66.03billionin2021andisanticipatedtogarnerrevenueworth$106.26billionby2028.

More Related