Global Forklift Truck Market Estimated to Grow From USD 36.2 Billion in 2015 at a CAGR of 5.7% over the Forecast Period 2016-2024
According to Goldstein Research, global forklift truck market size is projected to reach USD 36.2 billion by 2024 from an estimate of USD 56.8 billion in 2016, growing at a compounded annual growth rate of 5.7% during the forecast period 2016-2024. The growth of construction industry, warehouse and logistics industry & e-commerce industry have propelled the growth of forklift trucks all over the world. Global forklift truck market segmentation has been carried out on the basis of product type, fuel type, end users and geography. The construction industry has high application of forklift trucks and is expected to continue its dominance over the forecast period. Global forklift truck market is majorly driven by Asia Pacific with a market revenue share of 39% in 2016 in terms of volume of forklift trucks in the region. Further the Middle East & Africa region is witnessing high deployment of forklift trucks owing to establishment of automotive OEMs and propelling construction i...