The market for forklift trucks and industrial trucks - Germany

1.1 Scope of the study

The market for forklifts and industrial trucks includes industrial machines used for lifting, transporting and stacking materials and products, i.e. forklifts, and industrial trucks, i.e. industrial machines used for horizontal transport of materials and products on flat surfaces. These include pallet trucks, tow tractors, electric tow tractors, and similar machines.

The global forklift and material handling equipment market is expected to grow at a compound annual growth rate(CAGR) of over 7% during the forecast period up to 2026. The COVID-19 pandemic has negatively impacted the market; however, the post-pandemic outlook is promising due to urbanization, global trade, and rapid development of warehouse management tools that can facilitate material handling and inventory management. Moreover, companies in the manufacturing sector are increasingly focusing on automation and developments in e-commerce business are also driving the growth of the market.

Asia Pacific is the dominant market for forklifts, owing to high demand in emerging nations and increasing industrialization. Demand is also rising steadily in emerging economies such as China and India. In North America, growing demand in the U.S. retail sector in particular is driving the growth of the market.

In terms of sales, Europe is the second largest market after Asia. This can mainly be attributed to the high sales markets in Germany, France, Italy, Spain and the UK. Germany is home to three of the top five manufacturers of forklifts and material handling equipment.

The following market analysis shows that the market for forklift trucks and industrial trucks is subject to a number of trends and developments that influence both demand and supply. In the following, you will find important information on the development, trends and market structure as well as on the competition in this market.