South Korea Electric Forklift Market Size & Outlook
The electric forklift market in South Korea is expected to reach a projected revenue of US$ 6,592.9 million by 2030. A compound annual growth rate of 14.1% is expected of South Korea electric forklift market from 2024 to 2030.
Revenue, 2023 (US$M)
$2,618.6
Forecast, 2030 (US$M)
$6,592.9
CAGR, 2024 - 2030
14.1%
Report Coverage
South Korea
Related Markets
South Korea electric forklift market highlights
- The South Korea electric forklift market generated a revenue of USD 2,618.6 million in 2023 and is expected to reach USD 6,592.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 14.1% 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 2,618.6 million |
| Market revenue in 2030 | USD 6,592.9 million |
| Growth rate | 14.1% (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, South Korea accounted for 5.8% 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.
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Electric Forklift Market Scope
Electric forklift market segmentation & scope
Electric Forklift Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Crown Equipment | View profile | 10001+ | New Bremen, Ohio, United States, North America | http://www.crown.com |
| CLARK Material Handling Company | View profile | 251-500 | Lexington, Kentucky, United States, North America | https://www.clarkmhc.com/ |
| Hangcha Forklift America | View profile | 11-50 | Charlotte, North Carolina, United States, North America | http://www.hcforkliftamerica.com |
| Anhui Heli | View profile | 5001-10000 | Hefei, Anhui, China, Asia | http://www.helichina.com |
| Doosan Corporation Electro-Materials | View profile | - | Seoul, Seoul-t'ukpyolsi, South Korea, Asia | http://www.doosanelectronics.com/ |
| Hyster-Yale Materials Handling Inc Class A | View profile | 8600 | 5875 Landerbrook Drive, Suite 300, Cleveland, OH, United States, 44124-4069 | https://www.hyster-yale.com |
| Jungheinrich AG Vorz-Inhaber-Akt stimmrechtslos | View profile | 48492 | Friedrich-Ebert-Damm 129, Hamburg, Germany, 22047 | https://www.jungheinrich.com |
| KION GROUP AG | View profile | 42325 | Thea-Rasche-Strasse 8, Frankfurt am Main, HE, Germany, 60549 | https://www.kiongroup.com |
| Toyota Motor Corp | View profile | 380793 | 1 Toyota-cho, Aichi Prefecture, Toyota, Japan, 471-8571 | https://www.global.toyota |
| Mitsubishi Corp | View profile | 105267 | Mitsubishi Shoji Building 3-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8086 | https://www.mitsubishicorp.com |
| Komatsu Ltd | View profile | 70608 | 3-6 Akasaka 2-chome, Minato-ku, Tokyo, Japan, 107-8414 | https://www.komatsu.jp |
South Korea electric forklift market size, by battery type, 2018-2030 (US$M)
South Korea Electric Forklift Market Outlook Share, 2023 & 2030 (US$M)
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