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Machinery & Equipment Global IC Forklifts Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

  • RnM4627008
    • |
  • 26 September, 2025
    • |
  • Global
    • |
  • 131 Pages
    • |
  • GIR
    • |
  • Machinery & Equipment

According to our (Global Info Research) latest study, the global IC Forklifts market size was valued at US$ 11450 million in 2024 and is forecast to a readjusted size of USD 14030 million by 2031 with a CAGR of 3.0% 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.
Internal Combustion (IC) Forklifts are industrial trucks powered by combustion engines that run on diesel, gasoline, LPG (liquefied petroleum gas), or CNG (compressed natural gas). These forklifts are primarily used in outdoor and heavy-duty applications due to their high torque, load capacity, and durability.
The Internal Combustion Forklifts Market remains essential for heavy-duty, outdoor, and rugged material handling applications, despite the rising popularity of electric forklifts. While the global trend leans toward electrification and sustainability, IC forklifts will continue to hold ground where power, endurance, and refueling speed are critical. However, long-term demand is expected to gradually decline in regions with tightening emissions regulations and rising electric infrastructure.
Key Market Trends
Slow Shift Toward Electrification: While electric forklifts are gaining share, IC forklifts still dominate in high-load, outdoor applications. Cleaner IC Technologies: OEMs are investing in cleaner-burning engines and Tier 4-compliant diesel engines to meet environmental standards. Hybrid Forklift Development: Some manufacturers are experimenting with dual-fuel or hybrid IC-electric systems. Resilience in Emerging Markets: IC forklifts continue to be favored in regions with poor electric infrastructure. Integration of Telematics: IC forklifts are increasingly equipped with fleet management systems for maintenance and fuel monitoring.
Market Drivers
High-Performance Requirements: IC forklifts remain ideal for heavy-duty tasks that require power and endurance. Quick Refueling Advantage: No downtime for battery charging; ideal for continuous operations. Cost Efficiency in Some Use Cases: Lower upfront cost and simpler mechanics for certain regions/applications. Durability in Harsh Conditions: Ideal for dust, rain, and rough surfaces.
This report is a detailed and comprehensive analysis for global IC Forklifts 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 IC Forklifts market size and forecasts, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global IC Forklifts market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global IC Forklifts market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global IC Forklifts market shares of main players, shipments in revenue ($ 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 IC Forklifts
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 IC Forklifts 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
IC Forklifts 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
Gasoline Type
Diesel Type
Others
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 IC Forklifts product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of IC Forklifts, with price, sales quantity, revenue, and global market share of IC Forklifts from 2020 to 2025.
Chapter 3, the IC Forklifts competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the IC Forklifts 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 IC Forklifts 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 IC Forklifts.
Chapter 14 and 15, to describe IC Forklifts sales channel, distributors, customers, research findings and conclusion.


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 IC Forklifts Consumption Value by Type: 2020 Versus 2024 Versus 2031
    • 1.3.2 Gasoline Type
    • 1.3.3 Diesel Type
    • 1.3.4 Others
  • 1.4 Market Analysis by Application
    • 1.4.1 Overview: Global IC Forklifts 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 IC Forklifts Market Size & Forecast
    • 1.5.1 Global IC Forklifts Consumption Value (2020 & 2024 & 2031)
    • 1.5.2 Global IC Forklifts Sales Quantity (2020-2031)
    • 1.5.3 Global IC Forklifts Average Price (2020-2031)

2 Manufacturers Profiles

  • 2.1 Toyota
    • 2.1.1 Toyota Details
    • 2.1.2 Toyota Major Business
    • 2.1.3 Toyota IC Forklifts Product and Services
    • 2.1.4 Toyota IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.1.5 Toyota Recent Developments/Updates
  • 2.2 Kion
    • 2.2.1 Kion Details
    • 2.2.2 Kion Major Business
    • 2.2.3 Kion IC Forklifts Product and Services
    • 2.2.4 Kion IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.2.5 Kion Recent Developments/Updates
  • 2.3 Jungheinrich
    • 2.3.1 Jungheinrich Details
    • 2.3.2 Jungheinrich Major Business
    • 2.3.3 Jungheinrich IC Forklifts Product and Services
    • 2.3.4 Jungheinrich IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.3.5 Jungheinrich Recent Developments/Updates
  • 2.4 Mitsubishi Logisnext
    • 2.4.1 Mitsubishi Logisnext Details
    • 2.4.2 Mitsubishi Logisnext Major Business
    • 2.4.3 Mitsubishi Logisnext IC Forklifts Product and Services
    • 2.4.4 Mitsubishi Logisnext IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.4.5 Mitsubishi Logisnext Recent Developments/Updates
  • 2.5 Crown Equipment
    • 2.5.1 Crown Equipment Details
    • 2.5.2 Crown Equipment Major Business
    • 2.5.3 Crown Equipment IC Forklifts Product and Services
    • 2.5.4 Crown Equipment IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.5.5 Crown Equipment Recent Developments/Updates
  • 2.6 Hyster-Yale
    • 2.6.1 Hyster-Yale Details
    • 2.6.2 Hyster-Yale Major Business
    • 2.6.3 Hyster-Yale IC Forklifts Product and Services
    • 2.6.4 Hyster-Yale IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.6.5 Hyster-Yale Recent Developments/Updates
  • 2.7 Anhui Heli
    • 2.7.1 Anhui Heli Details
    • 2.7.2 Anhui Heli Major Business
    • 2.7.3 Anhui Heli IC Forklifts Product and Services
    • 2.7.4 Anhui Heli IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.7.5 Anhui Heli Recent Developments/Updates
  • 2.8 Hangcha
    • 2.8.1 Hangcha Details
    • 2.8.2 Hangcha Major Business
    • 2.8.3 Hangcha IC Forklifts Product and Services
    • 2.8.4 Hangcha IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.8.5 Hangcha Recent Developments/Updates
  • 2.9 Clark Material Handling
    • 2.9.1 Clark Material Handling Details
    • 2.9.2 Clark Material Handling Major Business
    • 2.9.3 Clark Material Handling IC Forklifts Product and Services
    • 2.9.4 Clark Material Handling IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.9.5 Clark Material Handling Recent Developments/Updates
  • 2.10 Doosan Corporation Industrial Vehicle
    • 2.10.1 Doosan Corporation Industrial Vehicle Details
    • 2.10.2 Doosan Corporation Industrial Vehicle Major Business
    • 2.10.3 Doosan Corporation Industrial Vehicle IC Forklifts Product and Services
    • 2.10.4 Doosan Corporation Industrial Vehicle IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.10.5 Doosan Corporation Industrial Vehicle Recent Developments/Updates
  • 2.11 Komatsu
    • 2.11.1 Komatsu Details
    • 2.11.2 Komatsu Major Business
    • 2.11.3 Komatsu IC Forklifts Product and Services
    • 2.11.4 Komatsu IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.11.5 Komatsu Recent Developments/Updates
  • 2.12 Lonking
    • 2.12.1 Lonking Details
    • 2.12.2 Lonking Major Business
    • 2.12.3 Lonking IC Forklifts Product and Services
    • 2.12.4 Lonking IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.12.5 Lonking Recent Developments/Updates
  • 2.13 Hyundai Heavy Industries
    • 2.13.1 Hyundai Heavy Industries Details
    • 2.13.2 Hyundai Heavy Industries Major Business
    • 2.13.3 Hyundai Heavy Industries IC Forklifts Product and Services
    • 2.13.4 Hyundai Heavy Industries IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.13.5 Hyundai Heavy Industries Recent Developments/Updates
  • 2.14 EP Equipment
    • 2.14.1 EP Equipment Details
    • 2.14.2 EP Equipment Major Business
    • 2.14.3 EP Equipment IC Forklifts Product and Services
    • 2.14.4 EP Equipment IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.14.5 EP Equipment Recent Developments/Updates
  • 2.15 Manitou
    • 2.15.1 Manitou Details
    • 2.15.2 Manitou Major Business
    • 2.15.3 Manitou IC Forklifts Product and Services
    • 2.15.4 Manitou IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.15.5 Manitou Recent Developments/Updates
  • 2.16 Paletrans Equipment
    • 2.16.1 Paletrans Equipment Details
    • 2.16.2 Paletrans Equipment Major Business
    • 2.16.3 Paletrans Equipment IC Forklifts Product and Services
    • 2.16.4 Paletrans Equipment IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.16.5 Paletrans Equipment Recent Developments/Updates
  • 2.17 Combilift
    • 2.17.1 Combilift Details
    • 2.17.2 Combilift Major Business
    • 2.17.3 Combilift IC Forklifts Product and Services
    • 2.17.4 Combilift IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.17.5 Combilift Recent Developments/Updates
  • 2.18 Hubtex Maschinenbau
    • 2.18.1 Hubtex Maschinenbau Details
    • 2.18.2 Hubtex Maschinenbau Major Business
    • 2.18.3 Hubtex Maschinenbau IC Forklifts Product and Services
    • 2.18.4 Hubtex Maschinenbau IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.18.5 Hubtex Maschinenbau Recent Developments/Updates
  • 2.19 Godrej & Boyce
    • 2.19.1 Godrej & Boyce Details
    • 2.19.2 Godrej & Boyce Major Business
    • 2.19.3 Godrej & Boyce IC Forklifts Product and Services
    • 2.19.4 Godrej & Boyce IC Forklifts Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.19.5 Godrej & Boyce Recent Developments/Updates

3 Competitive Environment: IC Forklifts by Manufacturer

  • 3.1 Global IC Forklifts Sales Quantity by Manufacturer (2020-2025)
  • 3.2 Global IC Forklifts Revenue by Manufacturer (2020-2025)
  • 3.3 Global IC Forklifts Average Price by Manufacturer (2020-2025)
  • 3.4 Market Share Analysis (2024)
    • 3.4.1 Producer Shipments of IC Forklifts by Manufacturer Revenue ($MM) and Market Share (%): 2024
    • 3.4.2 Top 3 IC Forklifts Manufacturer Market Share in 2024
    • 3.4.3 Top 6 IC Forklifts Manufacturer Market Share in 2024
  • 3.5 IC Forklifts Market: Overall Company Footprint Analysis
    • 3.5.1 IC Forklifts Market: Region Footprint
    • 3.5.2 IC Forklifts Market: Company Product Type Footprint
    • 3.5.3 IC Forklifts 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 IC Forklifts Market Size by Region
    • 4.1.1 Global IC Forklifts Sales Quantity by Region (2020-2031)
    • 4.1.2 Global IC Forklifts Consumption Value by Region (2020-2031)
    • 4.1.3 Global IC Forklifts Average Price by Region (2020-2031)
  • 4.2 North America IC Forklifts Consumption Value (2020-2031)
  • 4.3 Europe IC Forklifts Consumption Value (2020-2031)
  • 4.4 Asia-Pacific IC Forklifts Consumption Value (2020-2031)
  • 4.5 South America IC Forklifts Consumption Value (2020-2031)
  • 4.6 Middle East & Africa IC Forklifts Consumption Value (2020-2031)

5 Market Segment by Type

  • 5.1 Global IC Forklifts Sales Quantity by Type (2020-2031)
  • 5.2 Global IC Forklifts Consumption Value by Type (2020-2031)
  • 5.3 Global IC Forklifts Average Price by Type (2020-2031)

6 Market Segment by Application

  • 6.1 Global IC Forklifts Sales Quantity by Application (2020-2031)
  • 6.2 Global IC Forklifts Consumption Value by Application (2020-2031)
  • 6.3 Global IC Forklifts Average Price by Application (2020-2031)

7 North America

  • 7.1 North America IC Forklifts Sales Quantity by Type (2020-2031)
  • 7.2 North America IC Forklifts Sales Quantity by Application (2020-2031)
  • 7.3 North America IC Forklifts Market Size by Country
    • 7.3.1 North America IC Forklifts Sales Quantity by Country (2020-2031)
    • 7.3.2 North America IC Forklifts 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 IC Forklifts Sales Quantity by Type (2020-2031)
  • 8.2 Europe IC Forklifts Sales Quantity by Application (2020-2031)
  • 8.3 Europe IC Forklifts Market Size by Country
    • 8.3.1 Europe IC Forklifts Sales Quantity by Country (2020-2031)
    • 8.3.2 Europe IC Forklifts 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 IC Forklifts Sales Quantity by Type (2020-2031)
  • 9.2 Asia-Pacific IC Forklifts Sales Quantity by Application (2020-2031)
  • 9.3 Asia-Pacific IC Forklifts Market Size by Region
    • 9.3.1 Asia-Pacific IC Forklifts Sales Quantity by Region (2020-2031)
    • 9.3.2 Asia-Pacific IC Forklifts 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 IC Forklifts Sales Quantity by Type (2020-2031)
  • 10.2 South America IC Forklifts Sales Quantity by Application (2020-2031)
  • 10.3 South America IC Forklifts Market Size by Country
    • 10.3.1 South America IC Forklifts Sales Quantity by Country (2020-2031)
    • 10.3.2 South America IC Forklifts 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 IC Forklifts Sales Quantity by Type (2020-2031)
  • 11.2 Middle East & Africa IC Forklifts Sales Quantity by Application (2020-2031)
  • 11.3 Middle East & Africa IC Forklifts Market Size by Country
    • 11.3.1 Middle East & Africa IC Forklifts Sales Quantity by Country (2020-2031)
    • 11.3.2 Middle East & Africa IC Forklifts 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 IC Forklifts Market Drivers
  • 12.2 IC Forklifts Market Restraints
  • 12.3 IC Forklifts 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 IC Forklifts and Key Manufacturers
  • 13.2 Manufacturing Costs Percentage of IC Forklifts
  • 13.3 IC Forklifts 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 IC Forklifts Typical Distributors
  • 14.3 IC Forklifts Typical Customers

15 Research Findings and Conclusion

    16 Appendix

    • 16.1 Methodology
    • 16.2 Research Process and Data Source

    Summary:
    Get latest Market Research Reports on IC Forklifts. Industry analysis & Market Report on IC Forklifts is a syndicated market report, published as Global IC Forklifts Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031. It is complete Research Study and Industry Analysis of IC Forklifts market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.

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