Electric Forklift Truck Market Report – Research, Industry Analysis Reports and Market Demands

Global Electric Forklift Truck Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

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Table of Content

1 Market Overview

1.1 Product Overview and Scope
1.2 Market Estimation Caveats and Base Year
1.3 Market Analysis by Type
- 1.3.1 Overview: Global Electric Forklift Truck Consumption Value by Type: 2020 Versus 2024 Versus 2031
- 1.3.2 Class 1
- 1.3.3 Class 2
- 1.3.4 Class 3
- 1.3.5 Class 4/5
1.4 Market Analysis by Application
- 1.4.1 Overview: Global Electric Forklift Truck Consumption Value by Application: 2020 Versus 2024 Versus 2031
- 1.4.2 Warehouses
- 1.4.3 Factories
- 1.4.4 Distribution Centers
- 1.4.5 Others
1.5 Global Electric Forklift Truck Market Size & Forecast
- 1.5.1 Global Electric Forklift Truck Consumption Value (2020 & 2024 & 2031)
- 1.5.2 Global Electric Forklift Truck Sales Quantity (2020-2031)
- 1.5.3 Global Electric Forklift Truck Average Price (2020-2031)

2 Manufacturers Profiles

3 Competitive Environment: Electric Forklift Truck by Manufacturer

3.1 Global Electric Forklift Truck Sales Quantity by Manufacturer (2020-2025)
3.2 Global Electric Forklift Truck Revenue by Manufacturer (2020-2025)
3.3 Global Electric Forklift Truck Average Price by Manufacturer (2020-2025)
3.4 Market Share Analysis (2024)
- 3.4.1 Producer Shipments of Electric Forklift Truck by Manufacturer Revenue ($MM) and Market Share (%): 2024
- 3.4.2 Top 3 Electric Forklift Truck Manufacturer Market Share in 2024
- 3.4.3 Top 6 Electric Forklift Truck Manufacturer Market Share in 2024
3.5 Electric Forklift Truck Market: Overall Company Footprint Analysis
- 3.5.1 Electric Forklift Truck Market: Region Footprint
- 3.5.2 Electric Forklift Truck Market: Company Product Type Footprint
- 3.5.3 Electric Forklift Truck Market: Company Product Application Footprint
3.6 New Market Entrants and Barriers to Market Entry
3.7 Mergers, Acquisition, Agreements, and Collaborations

4 Consumption Analysis by Region

4.1 Global Electric Forklift Truck Market Size by Region
- 4.1.1 Global Electric Forklift Truck Sales Quantity by Region (2020-2031)
- 4.1.2 Global Electric Forklift Truck Consumption Value by Region (2020-2031)
- 4.1.3 Global Electric Forklift Truck Average Price by Region (2020-2031)
4.2 North America Electric Forklift Truck Consumption Value (2020-2031)
4.3 Europe Electric Forklift Truck Consumption Value (2020-2031)
4.4 Asia-Pacific Electric Forklift Truck Consumption Value (2020-2031)
4.5 South America Electric Forklift Truck Consumption Value (2020-2031)
4.6 Middle East & Africa Electric Forklift Truck Consumption Value (2020-2031)

5 Market Segment by Type

5.1 Global Electric Forklift Truck Sales Quantity by Type (2020-2031)
5.2 Global Electric Forklift Truck Consumption Value by Type (2020-2031)
5.3 Global Electric Forklift Truck Average Price by Type (2020-2031)

6 Market Segment by Application

6.1 Global Electric Forklift Truck Sales Quantity by Application (2020-2031)
6.2 Global Electric Forklift Truck Consumption Value by Application (2020-2031)
6.3 Global Electric Forklift Truck Average Price by Application (2020-2031)

7 North America

7.1 North America Electric Forklift Truck Sales Quantity by Type (2020-2031)
7.2 North America Electric Forklift Truck Sales Quantity by Application (2020-2031)
7.3 North America Electric Forklift Truck Market Size by Country
- 7.3.1 North America Electric Forklift Truck Sales Quantity by Country (2020-2031)
- 7.3.2 North America Electric Forklift Truck Consumption Value by Country (2020-2031)
- 7.3.3 United States Market Size and Forecast (2020-2031)
- 7.3.4 Canada Market Size and Forecast (2020-2031)
- 7.3.5 Mexico Market Size and Forecast (2020-2031)

8 Europe

8.1 Europe Electric Forklift Truck Sales Quantity by Type (2020-2031)
8.2 Europe Electric Forklift Truck Sales Quantity by Application (2020-2031)
8.3 Europe Electric Forklift Truck Market Size by Country
- 8.3.1 Europe Electric Forklift Truck Sales Quantity by Country (2020-2031)
- 8.3.2 Europe Electric Forklift Truck Consumption Value by Country (2020-2031)
- 8.3.3 Germany Market Size and Forecast (2020-2031)
- 8.3.4 France Market Size and Forecast (2020-2031)
- 8.3.5 United Kingdom Market Size and Forecast (2020-2031)
- 8.3.6 Russia Market Size and Forecast (2020-2031)
- 8.3.7 Italy Market Size and Forecast (2020-2031)

9 Asia-Pacific

9.1 Asia-Pacific Electric Forklift Truck Sales Quantity by Type (2020-2031)
9.2 Asia-Pacific Electric Forklift Truck Sales Quantity by Application (2020-2031)
9.3 Asia-Pacific Electric Forklift Truck Market Size by Region
- 9.3.1 Asia-Pacific Electric Forklift Truck Sales Quantity by Region (2020-2031)
- 9.3.2 Asia-Pacific Electric Forklift Truck Consumption Value by Region (2020-2031)
- 9.3.3 China Market Size and Forecast (2020-2031)
- 9.3.4 Japan Market Size and Forecast (2020-2031)
- 9.3.5 South Korea Market Size and Forecast (2020-2031)
- 9.3.6 India Market Size and Forecast (2020-2031)
- 9.3.7 Southeast Asia Market Size and Forecast (2020-2031)
- 9.3.8 Australia Market Size and Forecast (2020-2031)

10 South America

10.1 South America Electric Forklift Truck Sales Quantity by Type (2020-2031)
10.2 South America Electric Forklift Truck Sales Quantity by Application (2020-2031)
10.3 South America Electric Forklift Truck Market Size by Country
- 10.3.1 South America Electric Forklift Truck Sales Quantity by Country (2020-2031)
- 10.3.2 South America Electric Forklift Truck Consumption Value by Country (2020-2031)
- 10.3.3 Brazil Market Size and Forecast (2020-2031)
- 10.3.4 Argentina Market Size and Forecast (2020-2031)

11 Middle East & Africa

11.1 Middle East & Africa Electric Forklift Truck Sales Quantity by Type (2020-2031)
11.2 Middle East & Africa Electric Forklift Truck Sales Quantity by Application (2020-2031)
11.3 Middle East & Africa Electric Forklift Truck Market Size by Country
- 11.3.1 Middle East & Africa Electric Forklift Truck Sales Quantity by Country (2020-2031)
- 11.3.2 Middle East & Africa Electric Forklift Truck Consumption Value by Country (2020-2031)
- 11.3.3 Turkey Market Size and Forecast (2020-2031)
- 11.3.4 Egypt Market Size and Forecast (2020-2031)
- 11.3.5 Saudi Arabia Market Size and Forecast (2020-2031)
- 11.3.6 South Africa Market Size and Forecast (2020-2031)

12 Market Dynamics

12.1 Electric Forklift Truck Market Drivers
12.2 Electric Forklift Truck Market Restraints
12.3 Electric Forklift Truck Trends Analysis
12.4 Porters Five Forces Analysis
- 12.4.1 Threat of New Entrants
- 12.4.2 Bargaining Power of Suppliers
- 12.4.3 Bargaining Power of Buyers
- 12.4.4 Threat of Substitutes
- 12.4.5 Competitive Rivalry

13 Raw Material and Industry Chain

13.1 Raw Material of Electric Forklift Truck and Key Manufacturers
13.2 Manufacturing Costs Percentage of Electric Forklift Truck
13.3 Electric Forklift Truck Production Process
13.4 Industry Value Chain Analysis

14 Shipments by Distribution Channel

14.1 Sales Channel
- 14.1.1 Direct to End-User
- 14.1.2 Distributors
14.2 Electric Forklift Truck Typical Distributors
14.3 Electric Forklift Truck Typical Customers

15 Research Findings and Conclusion

16 Appendix

16.1 Methodology
16.2 Research Process and Data Source

Description

According to our (Global Info Research) latest study, the global Electric Forklift Truck market size was valued at US$ 21100 million in 2024 and is forecast to a readjusted size of USD 30480 million by 2031 with a CAGR of 5.4% during review period.
In this report, we will assess the current U.S. tariff framework alongside international policy adaptations, analyzing their effects on competitive market structures, regional economic dynamics, and supply chain resilience.
An Electric Forklift Truck 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 Truck 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 is a detailed and comprehensive analysis for global Electric Forklift Truck market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Electric Forklift Truck market size and forecasts, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global Electric Forklift Truck market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global Electric Forklift Truck market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global Electric Forklift Truck market shares of main players, shipments in revenue ($ Million), sales quantity (K Units), and ASP (US$/Unit), 2020-2025
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Electric Forklift Truck
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Electric Forklift Truck market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Toyota, Kion, Jungheinrich, Mitsubishi Logisnext, Crown Equipment, Hyster-Yale, Anhui Heli, Hangcha, Clark Material Handling, Doosan Corporation Industrial Vehicle, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
Electric Forklift Truck market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Class 1
Class 2
Class 3
Class 4/5
Market segment by Application
Warehouses
Factories
Distribution Centers
Others
Major players covered
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
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Electric Forklift Truck product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Electric Forklift Truck, with price, sales quantity, revenue, and global market share of Electric Forklift Truck from 2020 to 2025.
Chapter 3, the Electric Forklift Truck competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Electric Forklift Truck breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Electric Forklift Truck market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Electric Forklift Truck.
Chapter 14 and 15, to describe Electric Forklift Truck sales channel, distributors, customers, research findings and conclusion.

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