Forklift Statistics By Market Size, Companies and Facts
Joseph D'Souza
Updated · Jan 21, 2025
Table of Contents
Introduction
Forklift Statistics: Today, the global market for forklifts is fundamentally pronounced and seen as an increasing market. Operating in such areas as warehousing, machinery, and logistics, the forklift is an indispensable tool for good and effective material handling.
Moreover, forklifts can be powered by electricity, gasoline, diesel, or propane, and operators must be certified by local regulations. Regular inspections ensure compliance with safety standards. In this article, we will discuss the forklift statistics regarding the revenue market and trends.
Editor’s Choice
- According to Market.us, The Global Forklift Market size was valued at USD 68.1 billion in 2023 and is projected to reach USD 227.1 billion by 2033, growing at a CAGR of 12.8% from 2024 to 2033.
- Retail and e-commerce are the most significant consumer areas, with projected growth changing from 44,794.29 thousand units in 2025 to 69,220.34 thousand units by 2032.
- The construction sector’s expected increase is to be from 16,659.37 thousand units in 2025 to 24,901.77 thousand units in 2032.
- Manufacturing requirements will increase from 11,499.78 thousand units in 2025 to 17,422.63 thousand units by 2032.
- The top 3 brands of forklifts are Linde (25.75% market share), Toyota (9.27%), and Jungheinrich (8.04%).
- Forklift statistics reveal that Linde exhibits a strong market cap, while Manitou showed a remarkable growth trend with a higher demand barometer at 2.84.
- Companies like Hyster, Combilift, and Kalmar are showing higher activity and escalating demand.
- During 2023-24, 138 deaths were recorded in relation to working activities, a slight increase from 136 a year before.
- Two-thirds of fatalities are accounted for by falls from height, being struck by moving vehicles and moving objects.
- The high-risk sectors are construction, agriculture, forestry, and fishing, which account for 65% of deaths.
- Forklift statistics state that the biggest global exporter of forklifts is China in 2022, with US$6,199.9 million, ahead of Germany (US$3,921.7 million) and the USA (US$2,381.7 million).
Forklift Market Size
(Reference: statista.com)
- Historically, it was positively a very satisfying development. The growth of the forklift market in millions of U.S. dollars through the years has actually indicated the continuous expansion.
- According to forklift statistics from the year 2022, the market has achieved a growth right from US$43,778.2 million to US$46.347.74 million in 2023.
- With a slight increase in the field, 2024 carries a forecast of an anticipated volume of US$50,224.98 million.
- Further steps in this upward trend are expected to increase the figure during the following years: US$53,766.94 million in 2025, US$57,788.47 million in 2026, and US$63,242.66 million in 2027.
- In 2028, eventually, the growth will be observed by going up to reach a figure of US$68,506.16 million, increased to US$73,677.61 million in 2029 and US$75,213.68 million as of 2030.
Forklift Market Volume
- The total population of the global forklift truck end-user market experienced significant growth from 2018 up to 2022, with projection figures showing continuance until it reaches 2032.
- In 2018, retail and e-commerce exploited 30,862.28 thousand units; the construction sector exploited 11,824.17 thousand units. Manufacturing exploited 8,089.62 thousand units, while the other end-users used 17,414.05 thousand units.
- For the year 2019, these numbers grew: 32,164.80 thousand to retail and e-commerce, 12,271.25 thousand to construction, 8,407.55 thousand to manufacturing, while the others used 18,006.57 thousand to 2020.
- This slight decrease was further seen in the next year in terms of how many of its units went into retail and e-commerce (30,605.85 thousand units), just like in construction (11,627.37 thousand units) and other end-users (16,999.14 thousand units).
- By 2021, the part sprang back at least a bit, scalping at 31,672.31 thousand units for retail and e-commerce, 11,982.00 thousand units for construction, 8,233.00 thousand units for manufacturing, and 17,452.94 thousand units for other end-users.
- By 2022, values improved even above these trends, with more significant utilisation in retail and e-commerce, construction, manufacturing, and the remaining other end-users: that is 32,570.61 thousand units in retail and e-commerce, 12,270.18 thousand in construction, 8,443.16 thousand units in manufacturing, and 17,806.34 thousand units in the other end users.
- In 2023, it is expected that growth will continue in the retail and e-commerce sector, where sales would reach 37,929.49 thousand units; in construction, where purchases would amount to 12,962.77 thousand units; manufacturing, where purchases would amount to 8,916.99 thousand units; and other end users, purchases would probably be about 18,705.19 thousand units.
- This projection is for the year 2024, with retail and e-commerce growing to 41,135.23 thousand units, construction to 14,028.81 thousand units, manufacturing to 9,680.24 thousand units, and other end-users to 20,185.08 thousand units.
- Until 2025, retail and e-commerce would have reached 44,794.29 thousand units, construction 16,659.37 thousand units, manufacturing 11,499.78 thousand units, and other end-users 23,932.54 thousand units.
- Forklift statistics state that By 2032, retail and e-commerce forecasts showed growth to 69,220.34 thousand units, 24,901.77 in the construction sector, manufacturing at 17,422.63 thousand units, and other end-users would consume 34,844.08 thousand units.
- The growth surge highlights the increasing demand for forklifts across different sectors of retail and ecommerce and increased construction, increased manufacturing demand, and various other applications in the different industries.
Forklift Market Forecast By Market.us
(Source: Market.us)
- The Global Forklift Market size was valued at USD 68.1 billion in 2023 and is projected to reach USD 227.1 billion by 2033, growing at a CAGR of 12.8% from 2024 to 2033.
- The forklift market is advancing due to the growth of e-commerce, technological innovation, and a focus on energy efficiency.
- Demand for forklifts has risen alongside the increase in warehouse automation, with 65% of warehouses in the U.S. utilizing automation to boost productivity and operational efficiency.
- In 2023, Class III forklifts dominated the type segment with 39.7% market share, attributed to their versatility in various warehouse operations.
- Electric power sources led the market in 2023 with a share of 66.5%, reflecting the shift toward sustainable and efficient energy solutions.
- The Asia Pacific region accounted for 37.0% of the market in 2023, driven by expanding logistics and manufacturing sectors.
- The retail and wholesale segment held the largest application share in 2023, emphasizing the critical role of forklifts in supply chain management.
- According to the International Energy Agency, global investment in clean energy technologies is projected to reach USD 2 trillion in 2024, further incentivizing the adoption of energy-efficient forklifts.
- Toyota Industries Corporation has invested in hydrogen fuel cell technology to develop environmentally friendly forklifts, aligning with broader industry trends toward sustainability.
- Jungheinrich AG has expanded its product line to include automated guided vehicles, enhancing operational efficiency in warehouses.
- The European e-commerce market is projected to reach a turnover of €958 billion in 2024, an 8% increase from €887 billion in 2023, underscoring the growing need for efficient warehousing and logistics solutions.
(Reference: blog.forklift-international.com)
- The information regarding forklift statistics gives you an idea about leading forklift brands, their market shares, and a likely demand barometer reflecting purity or growth. Linde, with the highest stake of 25.75%, has a demand barometer of 0.87 and actually shows its strong market grip.
- Toyota follows behind Linde by a very long way with 9.27% of the market and has a higher demand barometer of 1.33 showing highly increased popularity.
- Stille and Jungheinrich come in as having the same market shares with 9.10 and 8.04%, respectively, with demand barometers of 0.62 and 0.82, respectively.
- Manitou stands out with 5.92% of the market and demand barometers at 2.84, making it one of the fastest-growing brands.
- Hyster and Kalmar got a 4.57 and 3.05% market share with demand barometers of 1.26 and 2.28, pointing to high activities in the market.
- Rather dramatic growth is expected for Combilift with almost no less notable demand. Still ahead, having 2.82%, the brand will not exert the same effect as the Manitou example but is likely to attract the attention of many.
- These include Mitsubishi at (2.34), BT with (2.26), and Yale at (1.94)% of the market and demand barometers of 1.20, 0.79, and 0.64, respectively, all showing moderate demand.
- Merlo’s demand barometer is really very high at 5.50 when it comes against their market weightage of 1.56%.
- Doosan goes by “1.53%” and CAT Lift Trucks as “1.30%,” while HC (Hangcha) comes as “0.89%”, each of differing demand barometers according to the brands as mentioned above at 0.90, 1.65, and 0.59.
- TCM, JCB, and Nissan come in with limited market shares of 0.88%, 0.77%, and 0.76%, respectively, but their demand barometers (2.58, 2.19, and 1.10) present separate stories of growth.
- Cesab and Unicarriers both get 0.75% market share but only have 0.50 and 0.87 demand barometers, respectively.
Forklift Fatal Incidents Statistics
(Reference: blog.intelex.com)
- It has been confirmed that the Health and Safety Executive (HSE) will release its fatal work-related injury statistics for the year 2023/24, showing a slight increase in deaths compared with last year.
- Forklift statistics only give first indications, as fatal work-related injury statistics for 2023/24 are to be published around next July when final figures will be available. The sad reality is that factually, year-in, year-out fatal accidents at workplaces increase.
- The most recent annual data on work-related deaths reflects an increase garnered by the 138 people who lost their lives due to work-related injuries in the year.
- The figures reflect a two-person increase in the previous year’s 136 deaths.
- The top three causes of fatal accidents in the workplace remain consistent, with falls from height, being struck by moving vehicles and being struck by moving objects responsible for approximately two-thirds of all fatalities resulting from workplace incidents.
- In relation to economic activity, the most dangerous sectors were construction or agriculture, forestry, and fishing during the year 2023/24.
- Three in five workplace fatalities (65%) were accounted for by these three very hazardous sectors of employment, as follows: construction, agriculture, forestry, fishing, and manufacturing.
- According to forklift statistics materials from the same year period, deaths attributed to the cause of being struck by moving vehicles had twenty-five deaths in the 2023-2024 period, representing 18% of all fatalities. Based on the information, those fatal-injury-classified cases are, respectively, falling from high places, being struck by a moving vehicle, and being hit by moving objects.
- Fatalities are more than 50%, combined with all those numbers.
- Fatalities from the agriculture, forestry, and fishing sectors increased from 21 to 23 deaths in 2023/24. The fatal injury rate within these three sectors is a massive 21 times the national average rate.
- The manufacturing industry had merely a few more deaths compared to the previous year. There were 16 deaths compared to 15.
- Waste and recycling, with a rate about nine times the national norm for all industries, was the next sector to follow.
- With about a five-fold increase in fatal injuries alongside a breakdown of construction fatalities to 47 from the preceding year, the overall average industry figures for 2023 are published as “51.”
- Male workers are the ones who get killed in construction accidents, mostly accounting for 131 deaths or 95% of the total.
- Workers aged sixty and above constitute about one-third of all fatalities, fingerprinting almost 11% of the total workforce.
Forklift Exporters Worldwide
- Forklift statistics state that China monopolised global exports of forklift trucks and parts with an all-time record of USD 6,199.9 million in exports.
- In second place, Germany’s share came in at USD 3,921.7 million, while the USA ranked third by exporting goods worth USD 2,381.7 million.
- Italy and France were also major exporters, respectively, valued at USD 1,860.6 and USD 1,423.5 million.
- The United Kingdom exported products for a total value of USD 1,206.1 million, while exports from Japan totalled USD 1,055.7 million.
- The Netherlands exported equipment worth USD 1,044.7 million, and Sweden’s exports touched USD 1,023.3 million.
- South Korea exported USD 951.4 million, and Canada and Ireland exported goods valued at USD 778.6 million and USD 579.7 million.
- Belgium exported USD 560.9 million, Mexico USD 410.9 million, and Poland USD 327.1 million.
- Czechia exported USD 317.2 million, with Spain’s exports contributing USD 245 million.
- Rounding off the list, Austria and Finland shipped goods worth USD 196.8 million and USD 177.9 million, respectively.
- As for Vietnam, it exported USD 136.5 million, while Denmark and the United Arab Emirates both exported USD 86.3 and 84.7 million, respectively. India exported USD 67.7 million, while Taiwan managed to export USD 63 million.
- There were USD 49 million in exports for Malaysia and an amount of USD 43.7 million for Thailand.
- The exports of Singapore were valued at USD 42.1 million, as much as the exports from Turkey (worth USD 34.1 million) and Brazil’s exports (worth USD 33.7 million).
- South African exports amounted to USD 29.9 million, while Hungary and Australia’s exports amounted to USD 25.9 million and USD 25.1 million, respectively.
- Additionally, Bulgaria contributed USD 21.4 million, while Kazakhstan, Norway, and Switzerland exported goods of USD 15.7 million.
- Romania’s export was valued at USD 14.1 million, Portugal’s at USD 11.5 million, and Lithuania’s at USD 11 million.
- Croatia exported materials valued at USD 10.9 million, while Latvia had an export value of USD 9.3 million. Indonesia exported commodities worth USD 6.8 million, Hong Kong exported USD 6.4 million, and Slovenia and Luxembourg both exported materials worth USD 6.1 million.
- Slovakia exported material valued at USD 5.4 million, Estonia valued at USD 4.5 million, and Ukraine valued at USD 3.4 million.
- The Philippines supplied goods worth USD 3.8 million, while Chile’s exports came to USD 3.3 million.
- New Zealand, Saudi Arabia, and Bahrain also gave USD 2.6 million.
- Serbia exported goods for a value of USD 2.5 million, while Panama and Iran each gave USD 2.3 million.
- Russia’s exports totaled USD 2.2 million, equal to what was sent out from Angola.
Industrial Trucks Statistics
- Industrial trucks have become one of the most important elements for moving goods and materials inside plants and warehouses.
- The global market volume surpassed the 1.4 billion mark, with demand being steered dominantly by Asia, Europe, and North America.
- The statistics have shown that the majority of warehouse and DC operators in the United States, i.e., 52% in particular, want to invest in material handling machines.
- Moreover, 56% of players in this field have already invested in forklifts and lift trucks. IC trucks contributed about 33% in the form of 1.6 million new orders of industrial trucks.
- Warehouse trucks cover an area of about 796,000 units, while there is a market of electric trucks amounting to about 246 units.
- Asia and Europe are leading riders in electric trucks, with Asia being the only region that is enjoying growth in this vehicle segment.
- Major suppliers in the industrial truck market are Toyota, Kion, and Jungheinrich, which resulted from lift truck operations at USD 13.6 billion.
- Toyota sold 1.6 million industrial trucks, almost one-third of which were internal combustion trucks as new orders.
- Major buyers in the market are warehouse trucks, with their share accounting for about 796,200, while new orders for electric trucks were around 246,600 units.
Conclusion
Forklift statistics show that a significant growth rate in the forklift industry is observed across several areas. High levels of innovation will certainly prevail as stakeholders will tend to develop still secure and safe methods for handling materials. This, coupled with a forecast of a continuous competitive area expansion, shows that forklift stakeholders have a future of growth within the whole sector.
FAQ.
What will be the growth in the global forklift market in 2025?
The global forklift market will witness an upsurge from 46.3 billion dollars in 2023 to 53.8 billion dollars in 2025, so it is likely much more to touch 64.6 billion dollars by 2030.
What are the main industries contributing toward the highest demand for forklifts?
The different industry sectors are retail and e-commerce, construction, and manufacturing, where the maximum demand for forklifts stems, which is supposed to propel upward from 44.8 million units in 2025 to 69.2 million units by 2032.
Which companies belong to the best forklift brands and have how much of a market share?
The first three best forklift brands are Linde, with a 25.75% market share, Toyota (9.27%), and Jungheinrich, with an 8.04% market share. The other brands, including Manitou, Hyster, and Kalmar, are seeing an increase in demand.
What are the major causes of forklift-related death within the workplace?
The vast majority of forklift-related deaths are attributable to falls from height, being hit by moving vehicles and being struck by moving objects. These three factors are responsible for almost two-thirds of all forklift-related deaths in the construction, agriculture, forestry, and fisheries sectors.
Which countries are the largest exporters of forklifts?
China remains the number one lifter on a global basis, with export revenues touching an astonishing 6.2 billion dollars in 2022, and Germany has amassed second rank with 3.9 billion dollars. Later, the U.S., at 2.4 billion dollars and Italy, at 1.9 billion dollars, also emerged as some of the major exporters.
Joseph D'Souza
Joseph D'Souza founded Smartphone Thoughts in 2003 as a personal project to share his insights and experiences with tech gadgets. Over time, it has grown into a well-regarded tech blog, known for its in-depth smartphone reviews and app-related statistics. Joseph is dedicated to providing detailed, well-researched content, including statistics, facts, charts, and graphs, all verified by experts. His goal is to make technological innovations and scientific discoveries easy to understand for everyone. Smartphone Thoughts is now a top source for tech news, appreciated by both tech enthusiasts and beginners.
