Forklift Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2021 - 2026
Global Forklift Market Overview: Forklifts are a crucial part of warehouse and distribution centers. The growing automotive component manufacturing and consumable goods along with radical prosperity of the e-commerce industry are leading to an augmented demand for forklifts. The global forklift market size was $16, 89 billion as of 2018, and the demand for the same in multiple industries will grow at a compound annual growth rate (CAGR) of 2.28% during the forecast period of 2019 to 2025. APAC is facing rapid expansion in the form of industrialization, construction, and the growth prospects in the automotive industry along with rise in disposable income that is also influencing the demand influx in the e-commerce sector. Rising adaptation of forklifts in major countries such as China is driving the forklift market in APAC. APAC had the maximum forklift regional market share at 32.76% in 2018. Global Forklift Market Outlook: Forklift is a powered industrial truck that ...