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)
$6,592.9
CAGR, 2024 - 2030
14.1%
Report Coverage
South Korea
South Korea electric forklift market, 2018-2030 (US$M)
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 |
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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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