India Electric Forklift Market Size & Outlook, 2023-2030
The electric forklift market in India is expected to reach a projected revenue of US$ 5,936.4 million by 2030. A compound annual growth rate of 17.2% is expected of India electric forklift market from 2024 to 2030.
Revenue, 2023 (US$M)
$1,951.8
Forecast, 2030 (US$M)
$5,936.4
CAGR, 2024 - 2030
17.2%
Report Coverage
India
India electric forklift market, 2018-2030 (US$M)
Related Markets
India electric forklift market highlights
- The India electric forklift market generated a revenue of USD 1,951.8 million in 2023 and is expected to reach USD 5,936.4 million by 2030.
- The India market is expected to grow at a CAGR of 17.2% from 2024 to 2030.
- In terms of segment, li-ion was the largest revenue generating battery type in 2023.
- Hydrogen is the most lucrative battery type segment registering the fastest growth during the forecast period.
Electric forklift market data book summary
| Market revenue in 2023 | USD 1,951.8 million |
| Market revenue in 2030 | USD 5,936.4 million |
| Growth rate | 17.2% (CAGR from 2023 to 2030) |
| Largest segment | Li-ion |
| Fastest growing segment | Hydrogen |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Li-ion, Lead Acid, Hydrogen |
| Key market players worldwide | Anhui Heli, CLARK Material Handling Company, Doosan Corporation Electro-Materials, Hangcha Forklift America, Hyster-Yale Materials Handling Inc Class A, Jungheinrich AG Vorz-Inhaber-Akt stimmrechtslos, KION GROUP AG, Komatsu Ltd, Mitsubishi Corp, Toyota Motor Corp |
Other key industry trends
- In terms of revenue, India accounted for 4.3% of the global electric forklift market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China electric forklift market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 5,936.4 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Electric Forklift Market Scope
Electric forklift market segmentation & scope
Electric Forklift Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
India electric forklift market size, by battery type, 2018-2030 (US$M)
India Electric Forklift Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
