Lift Truck Market, Global Outlook and Forecast 2022-2028
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The latest research study released by Market IntelliX evaluates market size and forecasts of Lift Truck in global, including the following market information:
Global Lift Truck Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global Lift Truck Market Sales, 2017-2022, 2023-2028, (K Units)
Global top five Lift Truck companies in 2021 (%)
The global Lift Truck market was valued at 22130 million in 2021 and is projected to reach US$ 27870 million by 2028, at a CAGR of 3.3% during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Class 1 Forklift Trucks Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Lift Truck include Toyota, Kion, Jungheinrich, Mitsubishi Logisnext, Crown Equipment, Hyster-Yale, Anhui Heli, Hangcha and Clark Material Handling, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
MI has surveyed the Lift Truck manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Market Segmentations:
Global Lift Truck Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (K Units)
Global Lift Truck Market Segment Percentages, by Type, 2021 (%)
Class 1 Forklift Trucks
Class 2 Forklift Trucks
Class 3 Forklift Trucks
Class 4/5 Forklift Trucks
Global Lift Truck Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (K Units)
Global Lift Truck Market Segment Percentages, by Application, 2021 (%)
Warehouses
Factories
Distribution Centers
Others
Global Lift Truck Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (K Units)
Global Lift Truck Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Lift Truck revenues in global market, 2017-2022 (Estimated), ($ millions)
Key companies Lift Truck revenues share in global market, 2021 (%)
Key companies Lift Truck sales in global market, 2017-2022 (Estimated), (K Units)
Key companies Lift Truck sales share in global market, 2021 (%)
The report presents profiles of competitors in the market, Some of the prominent key players covered:
Toyota
Kion
Jungheinrich
Mitsubishi Logisnext
Crown Equipment
Hyster-Yale
Anhui Heli
Hangcha
Clark Material Handling
Doosan Corporation Industrial Vehicle
Komatsu
Lonking
Hyundai Heavy Industries
EP Equipment
Manitou
Paletrans Equipment
Combilift
Hubtex Maschinenbau
Godrej & Boyce
Key Takeaways from this Report
Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
Analyze the sales and distribution channels across key geographies to improve top-line revenues.
Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
1 Introduction to Research & Analysis Reports
1.1 Lift Truck Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Lift Truck Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Lift Truck Overall Market Size
2.1 Global Lift Truck Market Size: 2021 VS 2028
2.2 Global Lift Truck Revenue, Prospects & Forecasts: 2017-2028
2.3 Global Lift Truck Sales: 2017-2028
3 Company Landscape
3.1 Top Lift Truck Players in Global Market
3.2 Top Global Lift Truck Companies Ranked by Revenue
3.3 Global Lift Truck Revenue by Companies
3.4 Global Lift Truck Sales by Companies
3.5 Global Lift Truck Price by Manufacturer (2017-2022)
3.6 Top 3 and Top 5 Lift Truck Companies in Global Market, by Revenue in 2021
3.7 Global Manufacturers Lift Truck Product Type
3.8 Tier 1, Tier 2 and Tier 3 Lift Truck Players in Global Market
3.8.1 List of Global Tier 1 Lift Truck Companies
3.8.2 List of Global Tier 2 and Tier 3 Lift Truck Companies
4 Sights by Product
4.1 Overview
4.1.1 By Type - Global Lift Truck Market Size Markets, 2021 & 2028
4.1.2 Class 1 Forklift Trucks
4.1.3 Class 2 Forklift Trucks
4.1.4 Class 3 Forklift Trucks
4.1.5 Class 4/5 Forklift Trucks
4.2 By Type - Global Lift Truck Revenue & Forecasts
4.2.1 By Type - Global Lift Truck Revenue, 2017-2022
4.2.2 By Type - Global Lift Truck Revenue, 2023-2028
4.2.3 By Type - Global Lift Truck Revenue Market Share, 2017-2028
4.3 By Type - Global Lift Truck Sales & Forecasts
4.3.1 By Type - Global Lift Truck Sales, 2017-2022
4.3.2 By Type - Global Lift Truck Sales, 2023-2028
4.3.3 By Type - Global Lift Truck Sales Market Share, 2017-2028
4.4 By Type - Global Lift Truck Price (Manufacturers Selling Prices), 2017-2028
5 Sights By Application
5.1 Overview
5.1.1 By Application - Global Lift Truck Market Size, 2021 & 2028
5.1.2 Warehouses
5.1.3 Factories
5.1.4 Distribution Centers
5.1.5 Others
5.2 By Application - Global Lift Truck Revenue & Forecasts
5.2.1 By Application - Global Lift Truck Revenue, 2017-2022
5.2.2 By Application - Global Lift Truck Revenue, 2023-2028
5.2.3 By Application - Global Lift Truck Revenue Market Share, 2017-2028
5.3 By Application - Global Lift Truck Sales & Forecasts
5.3.1 By Application - Global Lift Truck Sales, 2017-2022
5.3.2 By Application - Global Lift Truck Sales, 2023-2028
5.3.3 By Application - Global Lift Truck Sales Market Share, 2017-2028
5.4 By Application - Global Lift Truck Price (Manufacturers Selling Prices), 2017-2028
6 Sights by Region
6.1 By Region - Global Lift Truck Market Size, 2021 & 2028
6.2 By Region - Global Lift Truck Revenue & Forecasts
6.2.1 By Region - Global Lift Truck Revenue, 2017-2022
6.2.2 By Region - Global Lift Truck Revenue, 2023-2028
6.2.3 By Region - Global Lift Truck Revenue Market Share, 2017-2028
6.3 By Region - Global Lift Truck Sales & Forecasts
6.3.1 By Region - Global Lift Truck Sales, 2017-2022
6.3.2 By Region - Global Lift Truck Sales, 2023-2028
6.3.3 By Region - Global Lift Truck Sales Market Share, 2017-2028
6.4 North America
6.4.1 By Country - North America Lift Truck Revenue, 2017-2028
6.4.2 By Country - North America Lift Truck Sales, 2017-2028
6.4.3 US Lift Truck Market Size, 2017-2028
6.4.4 Canada Lift Truck Market Size, 2017-2028
6.4.5 Mexico Lift Truck Market Size, 2017-2028
6.5 Europe
6.5.1 By Country - Europe Lift Truck Revenue, 2017-2028
6.5.2 By Country - Europe Lift Truck Sales, 2017-2028
6.5.3 Germany Lift Truck Market Size, 2017-2028
6.5.4 France Lift Truck Market Size, 2017-2028
6.5.5 U.K. Lift Truck Market Size, 2017-2028
6.5.6 Italy Lift Truck Market Size, 2017-2028
6.5.7 Russia Lift Truck Market Size, 2017-2028
6.5.8 Nordic Countries Lift Truck Market Size, 2017-2028
6.5.9 Benelux Lift Truck Market Size, 2017-2028
6.6 Asia
6.6.1 By Region - Asia Lift Truck Revenue, 2017-2028
6.6.2 By Region - Asia Lift Truck Sales, 2017-2028
6.6.3 China Lift Truck Market Size, 2017-2028
6.6.4 Japan Lift Truck Market Size, 2017-2028
6.6.5 South Korea Lift Truck Market Size, 2017-2028
6.6.6 Southeast Asia Lift Truck Market Size, 2017-2028
6.6.7 India Lift Truck Market Size, 2017-2028
6.7 South America
6.7.1 By Country - South America Lift Truck Revenue, 2017-2028
6.7.2 By Country - South America Lift Truck Sales, 2017-2028
6.7.3 Brazil Lift Truck Market Size, 2017-2028
6.7.4 Argentina Lift Truck Market Size, 2017-2028
6.8 Middle East & Africa
6.8.1 By Country - Middle East & Africa Lift Truck Revenue, 2017-2028
6.8.2 By Country - Middle East & Africa Lift Truck Sales, 2017-2028
6.8.3 Turkey Lift Truck Market Size, 2017-2028
6.8.4 Israel Lift Truck Market Size, 2017-2028
6.8.5 Saudi Arabia Lift Truck Market Size, 2017-2028
6.8.6 UAE Lift Truck Market Size, 2017-2028
7 Manufacturers & Brands Profiles
7.1 Toyota
7.1.1 Toyota Corporate Summary
7.1.2 Toyota Business Overview
7.1.3 Toyota Lift Truck Major Product Offerings
7.1.4 Toyota Lift Truck Sales and Revenue in Global (2017-2022)
7.1.5 Toyota Key News
7.2 Kion
7.2.1 Kion Corporate Summary
7.2.2 Kion Business Overview
7.2.3 Kion Lift Truck Major Product Offerings
7.2.4 Kion Lift Truck Sales and Revenue in Global (2017-2022)
7.2.5 Kion Key News
7.3 Jungheinrich
7.3.1 Jungheinrich Corporate Summary
7.3.2 Jungheinrich Business Overview
7.3.3 Jungheinrich Lift Truck Major Product Offerings
7.3.4 Jungheinrich Lift Truck Sales and Revenue in Global (2017-2022)
7.3.5 Jungheinrich Key News
7.4 Mitsubishi Logisnext
7.4.1 Mitsubishi Logisnext Corporate Summary
7.4.2 Mitsubishi Logisnext Business Overview
7.4.3 Mitsubishi Logisnext Lift Truck Major Product Offerings
7.4.4 Mitsubishi Logisnext Lift Truck Sales and Revenue in Global (2017-2022)
7.4.5 Mitsubishi Logisnext Key News
7.5 Crown Equipment
7.5.1 Crown Equipment Corporate Summary
7.5.2 Crown Equipment Business Overview
7.5.3 Crown Equipment Lift Truck Major Product Offerings
7.5.4 Crown Equipment Lift Truck Sales and Revenue in Global (2017-2022)
7.5.5 Crown Equipment Key News
7.6 Hyster-Yale
7.6.1 Hyster-Yale Corporate Summary
7.6.2 Hyster-Yale Business Overview
7.6.3 Hyster-Yale Lift Truck Major Product Offerings
7.6.4 Hyster-Yale Lift Truck Sales and Revenue in Global (2017-2022)
7.6.5 Hyster-Yale Key News
7.7 Anhui Heli
7.7.1 Anhui Heli Corporate Summary
7.7.2 Anhui Heli Business Overview
7.7.3 Anhui Heli Lift Truck Major Product Offerings
7.7.4 Anhui Heli Lift Truck Sales and Revenue in Global (2017-2022)
7.7.5 Anhui Heli Key News
7.8 Hangcha
7.8.1 Hangcha Corporate Summary
7.8.2 Hangcha Business Overview
7.8.3 Hangcha Lift Truck Major Product Offerings
7.8.4 Hangcha Lift Truck Sales and Revenue in Global (2017-2022)
7.8.5 Hangcha Key News
7.9 Clark Material Handling
7.9.1 Clark Material Handling Corporate Summary
7.9.2 Clark Material Handling Business Overview
7.9.3 Clark Material Handling Lift Truck Major Product Offerings
7.9.4 Clark Material Handling Lift Truck Sales and Revenue in Global (2017-2022)
7.9.5 Clark Material Handling Key News
7.10 Doosan Corporation Industrial Vehicle
7.10.1 Doosan Corporation Industrial Vehicle Corporate Summary
7.10.2 Doosan Corporation Industrial Vehicle Business Overview
7.10.3 Doosan Corporation Industrial Vehicle Lift Truck Major Product Offerings
7.10.4 Doosan Corporation Industrial Vehicle Lift Truck Sales and Revenue in Global (2017-2022)
7.10.5 Doosan Corporation Industrial Vehicle Key News
7.11 Komatsu
7.11.1 Komatsu Corporate Summary
7.11.2 Komatsu Lift Truck Business Overview
7.11.3 Komatsu Lift Truck Major Product Offerings
7.11.4 Komatsu Lift Truck Sales and Revenue in Global (2017-2022)
7.11.5 Komatsu Key News
7.12 Lonking
7.12.1 Lonking Corporate Summary
7.12.2 Lonking Lift Truck Business Overview
7.12.3 Lonking Lift Truck Major Product Offerings
7.12.4 Lonking Lift Truck Sales and Revenue in Global (2017-2022)
7.12.5 Lonking Key News
7.13 Hyundai Heavy Industries
7.13.1 Hyundai Heavy Industries Corporate Summary
7.13.2 Hyundai Heavy Industries Lift Truck Business Overview
7.13.3 Hyundai Heavy Industries Lift Truck Major Product Offerings
7.13.4 Hyundai Heavy Industries Lift Truck Sales and Revenue in Global (2017-2022)
7.13.5 Hyundai Heavy Industries Key News
7.14 EP Equipment
7.14.1 EP Equipment Corporate Summary
7.14.2 EP Equipment Business Overview
7.14.3 EP Equipment Lift Truck Major Product Offerings
7.14.4 EP Equipment Lift Truck Sales and Revenue in Global (2017-2022)
7.14.5 EP Equipment Key News
7.15 Manitou
7.15.1 Manitou Corporate Summary
7.15.2 Manitou Business Overview
7.15.3 Manitou Lift Truck Major Product Offerings
7.15.4 Manitou Lift Truck Sales and Revenue in Global (2017-2022)
7.15.5 Manitou Key News
7.16 Paletrans Equipment
7.16.1 Paletrans Equipment Corporate Summary
7.16.2 Paletrans Equipment Business Overview
7.16.3 Paletrans Equipment Lift Truck Major Product Offerings
7.16.4 Paletrans Equipment Lift Truck Sales and Revenue in Global (2017-2022)
7.16.5 Paletrans Equipment Key News
7.17 Combilift
7.17.1 Combilift Corporate Summary
7.17.2 Combilift Business Overview
7.17.3 Combilift Lift Truck Major Product Offerings
7.17.4 Combilift Lift Truck Sales and Revenue in Global (2017-2022)
7.17.5 Combilift Key News
7.18 Hubtex Maschinenbau
7.18.1 Hubtex Maschinenbau Corporate Summary
7.18.2 Hubtex Maschinenbau Business Overview
7.18.3 Hubtex Maschinenbau Lift Truck Major Product Offerings
7.18.4 Hubtex Maschinenbau Lift Truck Sales and Revenue in Global (2017-2022)
7.18.5 Hubtex Maschinenbau Key News
7.19 Godrej & Boyce
7.19.1 Godrej & Boyce Corporate Summary
7.19.2 Godrej & Boyce Business Overview
7.19.3 Godrej & Boyce Lift Truck Major Product Offerings
7.19.4 Godrej & Boyce Lift Truck Sales and Revenue in Global (2017-2022)
7.19.5 Godrej & Boyce Key News
8 Global Lift Truck Production Capacity, Analysis
8.1 Global Lift Truck Production Capacity, 2017-2028
8.2 Lift Truck Production Capacity of Key Manufacturers in Global Market
8.3 Global Lift Truck Production by Region
9 Key Market Trends, Opportunity, Drivers and Restraints
9.1 Market Opportunities & Trends
9.2 Market Drivers
9.3 Market Restraints
10 Lift Truck Supply Chain Analysis
10.1 Lift Truck Industry Value Chain
10.2 Lift Truck Upstream Market
10.3 Lift Truck Downstream and Clients
10.4 Marketing Channels Analysis
10.4.1 Marketing Channels
10.4.2 Lift Truck Distributors and Sales Agents in Global
11 Conclusion
12 Appendix
12.1 Note
12.2 Examples of Clients
12.3 Disclaimer
Research Methodology:
Lift Truck Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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