Global Forklift Market to Surpass USD 120.1 Billion by 2035, Driven by E-Commerce & Electrification

Forklift Market projected at USD 120.1B by 2035, CAGR 6.1%, led by Asia Pacific innovation, e-commerce boom & shift to electric models

PUNE, MAHARASHTRA, INDIA, September 17, 2025 /EINPresswire.com/ -- Forklift Market is projected to surpass USD 120.1 Bn by 2035

Forklift Market projected to grow at a CAGR of 6.1% during the forecast period of 2025 to 2035

MarketGenics a leading player in material handling equipment warehouse automation announced a league of milestones in rapidly growing forklift market globally.

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The market study shows intersection of innovation, sustainability, and effectiveness vs efficiency.

Recent Investment - Third wave secures funding from Woven Capital, enables TWA to scale up the production.

A Green Energy Initiative - from JIC Leasing China to promote electric forklifts

Partnership - Flux Power partnered with a Top Forklift OEM to launch a private label battery

The global forklift market is projected to surpass USD 120.1 Bn by 2035, expanding at a CAGR of 6.1% during the forecast period. This growth is largely driven by increasing automation in warehouse and logistics operations, along with rapid expansion of the Manufacturing, E-commerce sector and technological advancement in the material handling industry.

Browse in-depth TOC on "Forklift Market"

203 - Tables

51 - Figures

263 – Pages

Rising Forklifts: E-commerce Growth, Policy Momentum and Electrification Drive Global Market Momentum
To know more about the Forklift Market - Download our Sample Report

The world forklift market is experiencing a major revolution changed by the e-commerce market, advance technological integration, and change in requirements of global supply chain. The sudden change in consumer behavior towards quicker, more efficient delivery has put new stress on logistics and warehousing operations. In response, forklifts are the center of a global industrial golden age.

In these most visible trends transforming the forklift industry is the growing demand for electric forklifts. As companies are moving towards quitter, quicker, cleaner warehouse environments, electric forklifts are powered largely by lithium-ion-batteries are the major increasing attraction. The batteries are having multiple key benefits over old lead-acid-batteries, including more safety, reduced maintenance needs, and longer lifespan.

Governments across the world are also supporting the way for this growth. In India “Make in India” campaign and the implementation of Special Economic Zones (SEZs) are stimulating local manufacturing, and the reason the demand in forklift as material handling equipment. Similarly, China’s “Made in China 2030” initiative is increase in innovation and next-generation manufacturing. This policy puts China on top of the industrial modernization, massively investing in automation and taking on intelligent, electric forklifts to join industrial standards.

Expansion of Forklift Market

“Driving Logistics Forward: Electrification, Class 4 surge, Asia Pacific innovation drives the forklift evolution”

Forklifts in class 4 are known for their operational capabilities with lower idle rates, and for their performance high standards across the board. Their accuracy and attention to detail makes them essential tools at construction sites, manufacturing units, warehouses, and another industrial setup. With high demands of accuracy in operations and meeting the industrial precision standards, these forklifts tend to become the favorable option for elevating work productivity and dependability. Beyond commendable operational advantages, Class 4 machines offer massive improvements in safety, efficiency, and maintenance and greatly reduce company emissions.

Get the Detailed Industry Analysis (including the Table of Contents, List of Figures, and List of Tables) — from the Forklift Market Research Report

Regional Analysis of Global Forklift Market

In terms of region, the global forklift market has been segmented into North America, Europe, Asia Pacific, Middle East, Africa, and South America.

The Asia Pacific region dominates the globe in terms of innovation and revenue in the forklift market with the market share of 52.5%. Increased urbanization, surging e-commerce, and massive investments in infrastructure in India, China and Southeast Asia are supporting the regional demand. Government initiatives such as “Make in India”, smart city, and SEZ’s are also taking forklift uptake. China also at the forefront with its logistics network and drive for intelligent manufacturing. Japan is leading the innovation with AI-driven forklifts to address the problem of labor shortage.

Prominent players operating in the global Forklift Market - Anhui Heli Co., Ltd., Clark Material Handling Company, Combilift Limited, Crown Equipment Corporation, Doosan Industrial Vehicle America Corporation, Godrej & Boyce Group, Hangcha Maschinenbau GmbH & Co. KG, Hyster-Yale Material Handling Inc., Hyundai Heavy Industries Ltd., KION Group AG, Komatsu Ltd., Konecranes, Lonking Forklift Co., Manitou Group, Mitsubishi Forklift Corporation, Toyota Industries Corporation, UniCarriers Americas, and Among Others.

Debashish Roy
MarketGenics India Pvt. Ltd.
sales@marketgenics.co
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