Middle East & Africa Electric Forklift Market Size & Outlook
The electric forklift market in Middle East & Africa is expected to reach a projected revenue of US$ 2,095.3 million by 2030. A compound annual growth rate of 11.3% is expected of Middle East & Africa electric forklift market from 2024 to 2030.
Revenue, 2023 (US$M)
$988.5
Forecast, 2030 (US$M)
$2,095.3
CAGR, 2024 - 2030
11.3%
Report Coverage
Middle East & Africa
Middle East & Africa electric forklift market, 2018-2030 (US$M)
Related Markets
MEA electric forklift market highlights
- The MEA electric forklift market generated a revenue of USD 988.5 million in 2023.
- The market is expected to grow at a CAGR of 11.3% from 2024 to 2030.
- In terms of segment, li-ion was the largest revenue generating battery type in 2023.
- Li-ion is the most lucrative battery type segment registering the fastest growth during the forecast period.
- Country-wise, UAE is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 988.5 million |
| Market revenue in 2030 | USD 2,095.3 million |
| Growth rate | 11.3% (CAGR from 2023 to 2030) |
| Largest segment | Li-ion |
| Fastest growing segment | Li-ion |
| 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, MEA region accounted for 2.2% 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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MEA electric forklift market size, by country, 2018-2030 (US$M)
Middle East & Africa Electric Forklift Market Outlook Share, 2023 & 2030 (US$M)
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