Top 6 Companies Dominating the Global Forklift Market, Fuelled by the Growing E-Commerce Sector

Toyota Material Handling, Inc., Crown Equipment Corporation, Jungheinrich AG, Komatsu Ltd., Anhui Heli Co Ltd, and Doosan Industrial Vehicle America Corp, among others, are the major players in the global forklift market.

The global forklift market is expected to grow at a CAGR of about 4.5% in the forecast period of 2024-2032. As per the analysis by Expert Market Research, the market is expected to be driven by the robust growth of the e-commerce sector.

With the growing e-commerce industry and the subsequent increase in logistics operations, the demand for forklifts is surging. The increasing competitiveness in the e-commerce landscape is also driving the use of forklifts to boost delivery efficiency and speed while meeting the higher volumes of orders. The increasing trend of one-day delivery is further likely to positively influence the market for forklift.

Advancements and innovations in forklift technology are revolutionising the utilisation and applications of forklifts. Forklifts integrated with fuel cell technology are reducing costs associated with material handling fleet and driving sustainability, due to which they are deployed by eco-conscious enterprises. Moreover, the increasing trend of automation is anticipated to bolster the demand for self-driving forklifts that provide various benefits like reduced costs and increased efficiencies.

In September 2022, Anhui Heli delivered nearly 100 sets of HELI lithium battery forklifts to a Southeast Asian consumer. Most of the forklifts are HELI G3 series 4-5T lithium battery products, which would be used in the building materials and cement sectors. The lithium battery-powered forklifts offer several advantages such as low noise, environmental protection, high efficiency, energy saving, and low maintenance. Moreover, they provide highly efficient lithium battery charging, enhanced ROI, and high-cost performance.

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Top 6 Forklift Companies Across the Globe:

Toyota Material Handling, Inc.

Toyota Material Handling Inc is a material handling solutions provider, based in the United States. The company has manufactured over 50,000 durable, reliable, and high-quality forklifts in the United States. With a diverse portfolio of more than 180 forklift models, the company’s products are utilised in a variety of sectors ranging from beverage to manufacturing, among others.

Crown Equipment Corporation

Crown Equipment Corporation is a major material handling company that is engaged in manufacturing warehouse storage equipment and forklift. The company manufactures and designs about 85% of its forklift components to support material handling products while offering the highest values to consumers. The company constantly develops innovative industrial product designs for manufacturing high-capability and high-speed forklifts.

Jungheinrich AG

Jungheinrich AG is a company specialising in intralogistics solutions and material flows. It has a workforce of 19,000 employees, 40 sales and service companies, and 13 production plants. With a wide presence in 41 countries through direct sale companies and 80 countries through partner firms, the company attained net sales of EUR 4.2 billion in 2021.

Komatsu Ltd

Komatsu Ltd is a Japanese company that manufactures diesel engines, press machines, and thermoelectric generators, as well as mining, construction, and forestry equipment. It has 213 consolidated subsidiaries, 54 sales operations and 76 manufacturing operations consisting of mining and construction equipment. 

Anhui Heli Co Ltd

Anhui Heli Co Ltd is a forklift provider, based in China. It has more than 400 services and sales companies and 24 provincial sales companies in China. With its portfolio of over 1700 models sold and marketed in 150 countries, the company is recognised as one of the leading forklift manufacturers in the world. In October 2021, it launched the first 4-5 tons hydrogen fuel cell forklift in Shanghai, China.

Doosan Industrial Vehicle America Corp

Doosan Industrial Vehicle America Corp is a material handling equipment provider that is engaged in the manufacturing of forklifts. With its wide network of independent dealers, the company operates over 200 service and sales locations across Canada, Puerto Rico, and the United States. Its industrial vehicle product lines include a wide variety of electric-powered and internal combustion vehicles in diverse capacities.