LONDON–(BUSINESS WIRE)–Technavio has been monitoring the forklift trucks market and it is poised to grow by 498.49 thousand units during 2020-2024, progressing at a CAGR of almost 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- Based on segmentation by class type, which is the leading segment in the market?
- The class V segment is expected to be the leading segment based on class type in the global market during the forecast period.
- What are the major trends in the market?
- High growth potential in emerging markets is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 6%, the incremental growth of the market is anticipated to be 498.49 thousand units.
- Who are the top players in the market?
- Cargotec Corp., Crown Equipment Corp., CVS Ferrari Spa, Hyster-Yale Materials Handling Inc., Jungheinrich AG, KION GROUP AG, Mitsubishi Heavy Industries Ltd., Royal Terberg Group BV, SANY Group Co. Ltd., and Toyota Industries Corp. are some of the major market participants.
- What are the key market drivers and challenges?
- Rapid growth in construction sector is one of the major factors driving the market. However, the shortage of skilled operators restrains the market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Cargotec Corp., Crown Equipment Corp., CVS Ferrari Spa, Hyster-Yale Materials Handling Inc., Jungheinrich AG, KION GROUP AG, Mitsubishi Heavy Industries Ltd., Royal Terberg Group BV, SANY Group Co. Ltd., and Toyota Industries Corp. are some of the major market participants. The rapid growth in construction sector will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Forklift trucks Market 2020-2024: Segmentation
Forklift trucks Market is segmented as below:
- Class V
- Class III
- Class I
- Class II
- Class IV
- North America
- South America
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Forklift trucks Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The forklift trucks market report covers the following areas:
- Forklift trucks Market Size
- Forklift trucks Market Trends
- Forklift trucks Market Analysis
This study identifies high growth potential in emerging markets as one of the prime reasons driving the forklift trucks market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Forklift trucks Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist forklift trucks market growth during the next five years
- Estimation of the forklift trucks market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the forklift trucks market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of forklift trucks market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type placement
- Class V – Market size and forecast 2019-2024
- Class III – Market size and forecast 2019-2024
- Class I – Market size and forecast 2019-2024
- Class II – Market size and forecast 2019-2024
- Class IV – Market size and forecast 2019-2024
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Geographic Landscape by Volume
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024 ($ millions)
- Europe – Market size and forecast 2019-2024 ($ millions)
- North America – Market size and forecast 2019-2024 ($ millions)
- South America – Market size and forecast 2019-2024 ($ millions)
- MEA – Market size and forecast 2019-2024 ($ millions)
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Cargotec Corp.
- Crown Equipment Corp.
- CVS Ferrari Spa
- Hyster-Yale Materials Handling Inc.
- Jungheinrich AG
- KION GROUP AG
- Mitsubishi Heavy Industries Ltd.
- Royal Terberg Group BV
- SANY Group Co. Ltd.
- Toyota Industries Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.