The US Forklift Trucks Market Size was estimated at 9.49 (USD Billion) in 2023. The US Forklift Trucks Industry is expected to grow from 10.6(USD Billion) in 2024 to 22.5 (USD Billion) by 2035. The US Forklift Trucks Market CAGR (growth rate) is expected to be around 7.082% during the forecast period (2025 - 2035).
The US Forklift Trucks Market is currently experiencing significant trends shaped by factors such as automation, safety regulations, and sustainability initiatives. The increasing investment in warehouse automation and the adoption of robotics in the logistics sector are major market drivers. Companies are looking to enhance efficiency and reduce labor costs, spurring demand for advanced forklift systems that can integrate with automated processes. There is also an emphasis on safety, with new regulations being implemented to ensure workplace safety standards are met. This is pushing manufacturers to develop forklifts equipped with advanced safety features, such as anti-collision systems and improved visibility for operators.Opportunities to be explored include the rising popularity of electric and alternative-fuel forklifts, driven by environmental concerns and government incentives for reducing emissions. The shift towards greener alternatives is becoming essential as businesses seek to meet sustainability goals while potentially lowering operating costs. Additionally, the growth of e-commerce is creating a demand for efficient material handling equipment in warehouses. As fulfillment centers expand across the US, the need for versatile and agile forklift trucks increases. Trends in recent times show a clear movement towards connectivity and smart technology integration.Forklift manufacturers are developing IoT-enabled trucks that allow for real-time monitoring and data analysis, contributing to better fleet management and maintenance practices. Furthermore, the ongoing labor shortages in sectors reliant on manual labor are leading businesses to invest in more automated solutions, ensuring that forklift technology continues to evolve in response to both market demands and operational challenges within the US landscape.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The rapid expansion of the e-commerce sector in the United States is significantly driving the US Forklift Trucks Market Industry. According to the United States Census Bureau, e-commerce sales in the U.S. grew by over 30% in 2020 during the pandemic, reaching approximately 800 billion USD. As online shopping continues to dominate retail, warehouses and distribution centers are evolving to meet the increased demand, necessitating the adoption of advanced material handling equipment like forklifts.Established organizations such as Amazon and Walmart have invested heavily in automating their fulfillment centers, utilizing forklift trucks to enhance operational efficiency. This transformation directly supports the need for more forklift models, boosting the growth of the US Forklift Trucks Market.
Continued investment in infrastructure development across the United States positively impacts the US Forklift Trucks Market Industry. With the Biden administration's proposed infrastructure plan aiming to allocate 2 trillion USD to renovate highways, bridges, and other critical infrastructure, there is an anticipated surge in demand for logistic support, which includes the necessity for forklifts. The American Society of Civil Engineers has graded U.S.infrastructure a C- in its 2021 report, signaling an urgent need for upgrades. Consequently, the increased construction and logistics activities will require a more nuanced and abundant fleet of forklifts, positively influencing market growth.
The introduction of advanced technologies such as automated guided vehicles (AGVs) and telematics in the forklift segment is reshaping the US Forklift Trucks Market Industry. The adoption of telematics technology allows operators to monitor fleet performance in real-time, which according to the Industrial Truck Association indicates that efficient fleet management can reduce operational costs by approximately 20%. Major forklift manufacturers like Toyota and Hyster-Yale have begun incorporating these technologies in their models to foster competitive advantage.The rise of smart warehouses, facilitated by these innovations, is anticipated to further create demand for modern forklift trucks in the U.S. market.
The US Forklift Trucks Market is experiencing noteworthy growth, particularly in the Technology segment attributed to innovations and advancements. This segment includes various technologies powering forklift trucks, specifically Electric Powered and Internal Combustion Engine Powered forklifts. Electric Powered forklifts have gained traction due to their efficiency, lower operational costs, and positive environmental impact. With increasing regulations emphasizing sustainability and reducing carbon emissions, Electric Powered forklifts are becoming a more attractive option for businesses aiming for greener operations. Moreover, their performance in indoor settings, such as warehouses and distribution centers, further enhances their appeal, as they produce less noise and eliminate harmful exhaust emissions. On the other hand, Internal Combustion Engine Powered forklifts continue to hold a significant presence within the market, particularly in sectors like construction and heavy manufacturing, where outdoor functionality and versatility are essential. The robustness and high lifting capacity of Internal Combustion Engine Powered models make them suitable for demanding environments, contributing to their stable demand. While these forklifts typically require more maintenance compared to their electric counterparts, they are often preferred for heavy-duty applications where power and performance are paramount. The choice between these technologies often depends on operational needs, with Electric Powered forklifts being regarded for sustainability, while Internal Combustion Engine Powered units are appreciated for their reliability in tough outdoor conditions. As businesses navigate the complexities of sustainability and efficiency, the technology used in forklifts plays a crucial role in their operational strategies, reflecting the changing dynamics in manufacturing, logistics, and warehousing sectors. The US Forklift Trucks Market data shows a noticeable inclination towards versatile solutions catering to both environmental concerns and operational demands. As both Electric Powered and Internal Combustion Engine Powered technologies evolve, stakeholders in the market will continue to explore opportunities in enhancing efficiency, reducing costs, and promoting a sustainable future in logistics and material handling. In summary, the US Forklift Trucks Market segmentation highlights the grip of these two technologies as key drivers in defining market trends and choices, driving innovation to meet the needs of various industries effectively.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The US Forklift Trucks Market, particularly in terms of capacity, showcases distinct characteristics that are vital for various industries. The segment can be broadly classified into below 5 tons and above 5 tons categories. The below 5 tons category is significant, reflecting the diverse operational needs of warehouses and manufacturing units that require agility and precision for moving lighter materials in confined spaces. This segment represents a majority holding in terms of unit demand due to the growing trend toward e-commerce and just-in-time inventory practices that necessitate flexible handling solutions.Conversely, the above 5 tons capacity is also critical, catering to heavy lifting operations typically found in sectors such as construction and large-scale manufacturing. This segment is marked by advancements in technology, enhancing safety, efficiency, and productivity for operators managing more substantial loads. The overall demand for capacity segmentation in the US Forklift Trucks Market is driven by the increasing emphasis on automation and the ongoing evolution in logistics and supply chain management, highlighting opportunities for innovation in equipment capacity to meet the dynamic market demands.
The Application segment of the US Forklift Trucks Market plays a crucial role in catering to various industries that rely heavily on material handling equipment. The majority of the market is driven by sectors such as Manufacturing, Logistics, and Retail and Wholesale, each holding significant importance in facilitating efficient operations. Manufacturing plants utilize forklifts to streamline production processes, ensuring timely movement of goods and raw materials, which enhances productivity and lowers operational costs. In the Logistics sector, the demand for forklifts has surged due to the growth of e-commerce and the need for streamlined warehouse operations, thus promoting the rapid movement of goods to consumers.The Retail and Wholesale sector benefits from forklifts by optimizing inventory management and enhancing the efficiency of loading and unloading processes in warehouses and stores. Furthermore, opportunities exist in niche applications within this market, such as specialized forklifts designed for specific tasks or materials, which can cater to unique industry needs. Overall, the Application segment is pivotal in shaping the dynamics of the US Forklift Trucks Market, reflecting its integral contribution to various industries.
The US Forklift Trucks Market is characterized by intense competition and innovation, driven by the need for efficient material handling solutions across various industries. Companies within this market continually strive to enhance their product lines, focusing on improved technology, emissions compliance, ergonomics, and automation features. The competitive landscape is shaped by both established manufacturers and new players, each vying for market share through strategic investments, product development, and partnerships. Key drivers fueling the growth of this market include an increase in e-commerce, the expansion of the warehousing sector, and the escalating demand for automation in logistics and supply chain operations, all of which require advanced forklift solutions tailored to changing industry needs. As such, understanding the competitive dynamics is essential for stakeholders looking to navigate this evolving landscape successfully.Nissan Forklift Corporation has positioned itself as a noteworthy player in the US Forklift Trucks Market, leveraging its reputation for producing durable and reliable equipment suitable for a variety of applications. The company is recognized for its commitment to quality and innovation, offering a wide range of models that cater to different handling needs, from electric to internal combustion units. One of the key strengths of Nissan Forklift Corporation lies in its strong distribution network and customer service, ensuring that clients receive timely support and equipment availability. The corporation continuously invests in research and development to incorporate the latest technology into its products, enhancing performance and efficiency. Furthermore, Nissan’s efforts to improve ergonomics and operator comfort in its forklift designs have contributed to increased user satisfaction, solidifying its position in the market. Crown Equipment Corporation is another major contender in the US Forklift Trucks Market, noted for its comprehensive suite of material handling equipment and tailored services. The company specializes in electric lift trucks and has established a strong foothold, delivering solutions that enhance productivity and safety in warehousing and distribution environments. Key products offered by Crown include pallet jacks, reach trucks, and stackers, which showcase cutting-edge technology designed for optimal performance. Crown Equipment Corporation boasts significant market presence through its well-established dealer network and after-sales support, which fosters long-term customer relationships. The company is recognized for its proactive approach to mergers and acquisitions, often seeking strategic partnerships that expand its product portfolio and market reach. Moreover, Crown maintains a focus on sustainability and energy-efficient solutions, aligning its offerings with modern environmental standards while further enhancing its competitive position within the US market.
The US Forklift Trucks Market has seen significant developments recently, with companies enhancing their technological offerings and focusing on sustainability. Toyota Material Handling has been investing in advanced automation solutions, while HysterYale Materials Handling has been expanding its electric forklift lineup in response to growing demand for eco-friendly options. Additionally, in September 2023, Mitsubishi Logisnext announced a strategic partnership aimed at bolstering its distribution network, reflecting a trend towards collaborative growth among major players. In the same month, Crown Equipment Corporation unveiled innovations in warehouse management technologies to streamline operations. The market is also experiencing a steady growth trajectory, with a valuation increase driven by heightened e-commerce activities and supply chain demands. Over the past few years, firms such as Doosan Industrial Vehicles and UniCarriers Americas Corporation have pursued aggressive expansion strategies, including facility upgrades and workforce enhancements to meet increasing customer needs. In October 2022, Yale Materials Handling Corporation expanded its product portfolio with the launch of a new line of electric pallet trucks, reinforcing its position in the competitive landscape. The competitive environment has fostered an emphasis on Research and Development, reflecting the market's dynamic nature.
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 9.49(USD Billion) |
| MARKET SIZE 2024 | 10.6(USD Billion) |
| MARKET SIZE 2035 | 22.5(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 7.082% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Nissan Forklift Corporation, Crown Equipment Corporation, UniCarriers Americas Corporation, Forklift Systems, HysterYale Materials Handling, Toyota Material Handling, Raymond Corporation, Jungheinrich AG, Clark Material Handling Company, Cat Lift Trucks, Yale Materials Handling Corporation, Hoisting Equipment Capabilities, KION Group, Mitsubishi Logisnext, Doosan Industrial Vehicles |
| SEGMENTS COVERED | Technology, Capacity, Application |
| KEY MARKET OPPORTUNITIES | Increased automation adoption, Growing e-commerce demand, Sustainable electric forklift trends, Aging fleet replacement, Enhanced safety technologies integration |
| KEY MARKET DYNAMICS | Technological advancements, Rising e-commerce demand, Increasing warehouse automation, Sustainability initiatives, Labor shortages |
| COUNTRIES COVERED | US |
Frequently Asked Questions (FAQ) :
The US Forklift Trucks Market is expected to be valued at 10.6 billion USD in 2024.
By 2035, the US Forklift Trucks Market is projected to reach a value of 22.5 billion USD.
The expected CAGR for the US Forklift Trucks Market from 2025 to 2035 is 7.082 percent.
In 2024, the Internal Combustion Engine Powered segment is anticipated to have the largest market share, valued at 6.6 billion USD.
The market value of Electric Powered Forklift Trucks is expected to reach 8.5 billion USD by 2035.
Major players in the US Forklift Trucks Market include Nissan Forklift Corporation, Crown Equipment Corporation, and Toyota Material Handling, among others.
Key applications driving growth include warehouse operations, construction, and manufacturing sectors.
The Electric Powered Forklift Trucks segment is expected to grow significantly as part of the broader market growth during the forecast period.
In 2024, the Internal Combustion Engine Powered segment is valued at 6.6 billion USD, compared to 4.0 billion USD for the Electric Powered segment.
Emerging trends include advancements in electric technology and increasing demand for warehouse automation.
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