Saudi Arabia Electric Forklift Market Size & Outlook
The electric forklift market in Saudi Arabia is expected to reach a projected revenue of US$ 430.1 million by 2030. A compound annual growth rate of 10.4% is expected of Saudi Arabia electric forklift market from 2024 to 2030.
Revenue, 2023 (US$M)
$215.5
Forecast, 2030 (US$M)
$430.1
CAGR, 2024 - 2030
10.4%
Report Coverage
Saudi Arabia
Saudi Arabia electric forklift market, 2018-2030 (US$M)
Related Markets
Saudi Arabia electric forklift market highlights
- The Saudi Arabia electric forklift market generated a revenue of USD 215.5 million in 2023 and is expected to reach USD 430.1 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 10.4% 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.
Electric forklift market data book summary
| Market revenue in 2023 | USD 215.5 million |
| Market revenue in 2030 | USD 430.1 million |
| Growth rate | 10.4% (CAGR from 2023 to 2030) |
| Largest segment | Li-ion |
| Fastest growing segment | Li-ion |
| 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, Saudi Arabia accounted for 0.5% 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 Middle East & Africa, UAE electric forklift market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,213.3 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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Saudi Arabia electric forklift market size, by battery type, 2018-2030 (US$M)
Saudi Arabia Electric Forklift Market Outlook Share, 2023 & 2030 (US$M)
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