Automation trends driving the forklift truck market are driving the growth of the Forklift Trucks Market at a CAGR of 7.0% during the forecast period 2025 to 2035

Market Research Future (MRFR) has published a cooked research report on the “Global Forklift Trucks Market” that contains the information from 2019 to 2035.

The Global Forklift Trucks Market is estimated to register a CAGR of 7.0 % during the forecast period of 2025 to 2035.

MRFR recognizes the following companies as the key players in the Global Forklift Trucks Market — Toyota Industries Corporation, Komatsu Ltd., KION Group AG, Jungheinrich Group, Hyster-Yale Material Handling Inc., Mitsubishi Heavy Industries Ltd., The Raymond Corporation, Crown Equipment Corporation, Anhui HELI Co., Ltd., Kalmar Corporation and others.

The Global Forklift Trucks Market accounted for registering a CAGR of 7.0 % during the forecast period and is estimated to reach USD 176.86 billion by 2035.

The rapid expansion of e-commerce and the growing need for efficient warehousing operations are significantly driving the demand for forklift trucks across global markets. The surge in online shopping has led to an increased volume of goods being transported, stored, and distributed, requiring efficient material handling solutions. E-commerce giants such as Amazon, Alibaba, and Walmart are heavily investing in large-scale fulfillment centers and automated distribution hubs to cater to the growing demand for same-day and next-day deliveries. These warehouses rely extensively on forklifts for material handling, order picking, and inventory management, thereby fueling the adoption of advanced forklift technologies. As companies strive to enhance operational efficiency and minimize delivery times, the demand for electric and automated forklifts is growing, enabling seamless goods movement in high-density storage environments.

With the increasing complexity of global supply chains, warehouse operators are optimizing storage space by adopting high-rack storage systems, vertical stacking solutions, and multi-tier warehouses. This has created a growing demand for forklifts with enhanced lifting capacities, compact designs for narrow aisles, and advanced maneuverability. Additionally, the rise of omnichannel retailing, where businesses must simultaneously manage online and offline sales channels, has further increased the need for high-speed and flexible warehouse operations. To meet these demands, forklift manufacturers are integrating smart navigation systems, AI-driven fleet management software, and automated guided vehicle (AGV) technology into their products. These advancements help in reducing downtime, improving productivity, and minimizing errors in warehouse logistics.

Technological innovations in warehouse automation and material handling are reshaping the forklift industry. The integration of the Internet of Things (IoT), machine learning, and real-time tracking capabilities in forklifts is enabling warehouse managers to monitor performance, detect maintenance issues proactively, and optimize fleet utilization. Automated forklifts and robotic material-handling solutions are being deployed in modern fulfillment centers to handle repetitive tasks such as pallet stacking, loading, and unloading without human intervention. Additionally, the adoption of energy-efficient lithium-ion battery-powered forklifts is reducing carbon emissions, lowering operational costs, and enhancing overall sustainability. With stricter regulations on emissions and growing environmental concerns, businesses are increasingly shifting away from diesel-powered forklifts in favor of electric alternatives.

The ongoing expansion of warehousing infrastructure worldwide is further bolstering the forklift truck market. Emerging economies in Asia-Pacific, Latin America, and the Middle East are witnessing a boom in warehouse construction, driven by rising internet penetration, increasing consumer spending, and government initiatives to enhance logistics capabilities. Countries such as China and India, with their rapidly growing e-commerce markets, are leading the demand for advanced forklift trucks to support large-scale logistics operations. Similarly, in North America and Europe, the growing trend of micro-fulfillment centers and urban warehouses has increased the need for compact and high-performance forklifts that can efficiently navigate smaller storage spaces while maintaining high load capacities.

As warehouse automation and digitization continue to shape the logistics landscape, the forklift truck industry is poised for significant growth. Manufacturers are focusing on developing smart, connected, and sustainable forklifts to align with the evolving demands of e-commerce-driven supply chains. The integration of artificial intelligence, big data analytics, and cloud-based fleet management systems will further enhance the efficiency, safety, and reliability of forklift operations. With the continued rise of e-commerce and the expansion of warehousing infrastructure, the forklift market will witness steady advancements, with innovations in automation, electrification, and connectivity playing a crucial role in the future of material handling solutions.

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Segmental Analysis

The Global Forklift Trucks Market has been segmented based on Technology, by Capacity, by Application.

Based on Technology, this segment includes Electric Powered and Internal Combustion Engine Powered. The Electric Powered segment dominated the global market in 2024, while it is projected to be the fastest–growing segment during the forecast period. Electric-powered forklift trucks are witnessing significant growth due to the rising emphasis on sustainability, lower operational costs, and regulatory compliance with emission norms. These forklifts are widely preferred in indoor environments such as warehouses, manufacturing facilities, and retail distribution centers due to their zero-emission capabilities, low noise levels, and reduced maintenance requirements. The increasing adoption of lithium-ion battery technology has further enhanced the efficiency and performance of electric forklifts, offering longer operational hours, fast charging, and lower total cost of ownership compared to conventional lead-acid batteries.

Based on Capacity, this segment includes Below 5 tons and Above 5 tons. The Below 5 tons segment dominated the global market in 2024, while it is projected to be the fastest–growing segment during the forecast period. Forklift trucks with a capacity below 5 tons are widely used across various industries, including warehousing, retail, e-commerce, and light manufacturing. These forklifts are preferred for their compact size, maneuverability, and cost-effectiveness, making them ideal for indoor applications and confined spaces. The growing demand for efficient inventory management and rapid material movement in logistics and distribution centers has significantly boosted the adoption of forklifts in this category. Additionally, the increasing trend of urbanization and the expansion of small- and medium-sized enterprises (SMEs) have further contributed to the segment’s growth.

Based on Application, this segment includes Manufacturing, Logistic, Retail & Wholesale, Others. The Retail & Wholesale segment dominated the global market in 2024, while it is projected to be the fastest–growing segment during the forecast period. The retail and wholesale sectors are witnessing significant transformations, with forklift trucks playing an essential role in inventory handling and supply chain operations. As global retail chains expand their footprint, the need for efficient warehouse management and store replenishment has driven forklift adoption. Retailers are increasingly focusing on optimizing their storage and logistics operations to ensure rapid product turnover and meet consumer demand. Forklifts enable efficient loading and unloading of goods in warehouses, retail backrooms, and distribution centers, ensuring seamless stock movement.

Regional Analysis

Geographically, the Global Forklift Trucks Market has been segmented into North America, Europe, Asia-Pacific, and Rest of the World.

Major demand factors driving the Asia-Pacific market are the rising e-commerce & warehousing expansion driving the forklift trucks market and growth in manufacturing & construction sectors driving the forklift trucks market and labor shortages & automation trends driving the forklift truck market. The Asia-Pacific forklift trucks market is experiencing rapid expansion, driven by industrialization, urbanization, and a booming e-commerce sector. The region is home to some of the world’s largest manufacturing and logistics hubs, including China, Japan, and India, making it a key contributor to the global forklift industry. The demand for forklifts is increasing due to the growth of warehouses, logistics centers, and industrial production facilities, particularly in the automotive, retail, and construction sectors. Additionally, many governments in the region are focusing on smart infrastructure development, further driving demand for advanced material handling equipment.

The forklift trucks market in North America is experiencing significant growth, driven by the expansion of e-commerce, increased warehouse automation, and the rise in industrial production activities. The region's emphasis on efficient logistics and supply chain management has led to higher demand for forklifts across distribution centers, retail warehouses, and construction sites. In particular, the rapid growth of e-commerce giants such as Amazon and Walmart has accelerated the adoption of automated and electric forklifts to streamline material handling processes. Additionally, the rise of third-party logistics (3PL) providers, which handle outsourced warehousing and transportation operations, has further contributed to increased forklift demand in the region.

The forklift trucks market in Europe is experiencing substantial growth, driven by increasing industrial automation, a strong focus on sustainability, and the expansion of e-commerce and logistics networks. The region’s stringent emission regulations have accelerated the transition toward electric and hydrogen fuel cell-powered forklifts, with major industries such as automotive, retail, and manufacturing adopting cleaner and more efficient material handling solutions. The rising demand for intralogistics automation, particularly in Germany, France, and the U.K., has further fueled the adoption of advanced forklift technologies, including autonomous and IoT-enabled models.

The Rest of the World (RoW) forklift trucks market, which includes the Middle East, Africa, and South America, is experiencing steady growth driven by industrialization, infrastructure expansion, and rising demand for efficient material handling solutions. The Middle East is witnessing strong demand for forklifts due to economic diversification initiatives, rapid urbanization, and the growth of logistics and warehousing sectors in countries like Saudi Arabia, the UAE, and Qatar. In Africa, increasing industrial activities, the expansion of seaports, construction projects, and agricultural mechanization are supporting market growth, particularly in South Africa, Nigeria, and Egypt. Meanwhile, South America, led by Brazil, Argentina, and Chile, is seeing forklift adoption rise in manufacturing, food processing, and logistics industries, although economic instability and fluctuating exchange rates present challenges to market expansion.

Key Findings of the Study

• The Global Forklift Trucks Market is expected to reach USD 176.86 billion by 2035, at a CAGR of 7.0% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market.


• Based on the Technology, the Electric Powered segment was attributed to holding the largest market in 2024.


• Toyota Industries Corporation, Komatsu Ltd., KION Group AG, Jungheinrich Group, Hyster-Yale Material Handling Inc., Mitsubishi Heavy Industries Ltd., The Raymond Corporation, Crown Equipment Corporation, Anhui HELI Co., Ltd., Kalmar Corporation are some of the players in the market.