6/17/2023 0 Comments Used forklift for sale in indiaThat's why it's important for businesses to stay abreast of the latest research and trends so they can make informed decisions about their future. The forklift trucks market is a rapidly growing and constantly evolving business. With prices ranging from around $10,000 up into the millions of dollars. This intense competition among buyers explains why competitors are constantly finding new ways to differentiate their products and services.Īnother key finding from the analysis is that there is a wide variety of pricing options available when it comes to purchasing a forklift truck. This trend is expected to continue over the next seven years as well - new buyers are forecast to account for 88% of all forklift truck sales by 2028. In 2022, 82% of all forklift truck sales were to new buyers, while only 18% were sales to repeat customers. One of the key findings from SkyQuest's analysis of the global forklift trucks market is that demand for forklift trucks is tipped decidedly in favor of new buyers. However, there are a number of factors that could eventually impact the growth of the market, including increased competition and legislation. Some examples include developing new models that are both efficient and durable, increasing production rates, and training employees on how to use these machines properly.īrowse summary of the report and Complete Table of Contents (ToC):įorklift Trucks Market is Witnessing Growth in the New Buyers: 88% of the Global Sales Will Come from New Buyers by 2028 SkyQuest estimates that there will be a shortage of more than one million forklift operators by 2021.There are several challenges that manufacturers will need to address in order to meet this growing demand. This growing demand has led to a shortage of qualified forklift operators, which is expected to create challenges for manufacturers in the near future. In addition, companies in the global forklift trucks market are increasingly turning to forklift trucks to perform tasks such as loading and unloading goods from trucks. This is due in part to the growing prevalence of e-commerce, which has created increased demand for logistics services. One of the key factors contributing to this growth is the increasing demand for automated warehouse and distribution systems. This is evident in SkyQuest's survey of forklift truck manufacturers and distributors, which found that 93% of respondents plan to increase their sales of forklifts in the next three years. One of the reasons for this growth is that companies are increasingly adopting forklift trucks for warehouse and distribution tasks. The company's "Global Market Brief – Forklifts, 2022-2028" projects that the market will grow by almost 85% over the next seven years. Instead of having drivers manually operate the trucks, autonomous vehicles would allow companies to use them more efficiently and reduce the amount of time spent waiting for them to get moving again.Īutomated Warehouse and Distribution Systems Emerged as Key Factor in Global Forklift Trucks Market DemandĪccording to a recent report from SkyQuest, the forklift trucks market is experiencing significant growth. According to SkyQuest, this is likely to cause a major shift in how forklift trucks are used by businesses. In terms of technology, the industry is moving toward autonomous vehicles. This competition will result in reduced prices for consumers, who will be able to obtain better quality trucks at lower prices. However, both of these companies are expected to face increased competition in the coming years from brands such as Freightliner and Volvo. This growth is due to increasing demand from other sectors, such as construction and warehousing, as well as the rise of ecommerce and transportation companies that rely on forklift trucks for their operations.Ĭurrently, the dominant brands in global forklift trucks market are Toyota and Daimler. Forklift trucks are one of the most commonly used machines in the commercial setting, and their popularity has only grown in recent years. Out of which, over 230,000 units were sold in the US alone, which around 16.3% of the global sales. In 2021, over 1, 419,000 units of forklift trucks were sold and the number is projected surpass the unit sales of 1,909,000 by 2028. 19, 2022 (GLOBE NEWSWIRE) - There is no dispute that the forklift trucks market is a thriving business.
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