Latin America Electric Forklift Market Size & Outlook
The electric forklift market in Latin America is expected to reach a projected revenue of US$ 2,270.2 million by 2030. A compound annual growth rate of 11.9% is expected of Latin America electric forklift market from 2024 to 2030.
Revenue, 2023 (US$M)
$1,034.5
Forecast, 2030 (US$M)
$2,270.2
CAGR, 2024 - 2030
11.9%
Report Coverage
Latin America
Latin America electric forklift market, 2018-2030 (US$M)
Related Markets
Latin America electric forklift market highlights
- The Latin America electric forklift market generated a revenue of USD 1,034.5 million in 2023.
- The market is expected to grow at a CAGR of 11.9% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,034.5 million |
| Market revenue in 2030 | USD 2,270.2 million |
| Growth rate | 11.9% (CAGR from 2023 to 2030) |
| Largest segment | Li-ion |
| Fastest growing segment | Hydrogen |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 2.3% of the global electric forklift market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 47,806.8 million by 2030.
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Electric Forklift Market Scope
Electric forklift market segmentation & scope
Electric Forklift Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America electric forklift market size, by country, 2018-2030 (US$M)
Latin America Electric Forklift Market Outlook Share, 2023 & 2030 (US$M)
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