Asia Pacific Forklift Market Size & Outlook, 2024-2030
Asia Pacific forklift market, 2018-2030 (US$M)
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Asia Pacific forklift market highlights
- The Asia Pacific forklift market generated a revenue of USD 35,108.1 million in 2024.
- The market is expected to grow at a CAGR of 14.5% from 2025 to 2030.
- In terms of segment, electric was the largest revenue generating power source in 2024.
- Electric is the most lucrative power source segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2025 to 2030.
Asia Pacific data book summary
| Market revenue in 2024 | USD 35,108.1 million |
| Market revenue in 2030 | USD 79,178.2 million |
| Growth rate | 14.5% (CAGR from 2024 to 2030) |
| Largest segment | Electric |
| Fastest growing segment | Electric |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Internal Combustion, Electric |
| Key market players worldwide | Doosan Heavy Industries & Construction, Crown Holdings Inc, Hyster-Yale Materials Handling Inc Class A, Jungheinrich AG Vorz-Inhaber-Akt stimmrechtslos, KION GROUP AG, Komatsu Ltd, Mitsubishi Corp, Toyota Motor Corp, Anhui Heli, Hangcha Forklift America |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 48.4% of the global forklift market in 2024.
- 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 79,178.2 million by 2030.
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Forklift Market Scope
Forklift Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific forklift market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to forklift market will help companies and investors design strategic landscapes.
Electric was the largest segment with a revenue share of 56.17% in 2024. Horizon Databook has segmented the Asia Pacific forklift market based on internal combustion, electric covering the revenue growth of each sub-segment from 2018 to 2030.
The Asia Pacific region is home to several prominent forklift manufacturers, such as Doosan Corporation, Anhui Heli Co., Ltd., and Hangcha Forklift, fostering technological innovations and driving industry competitiveness.
As companies continuously develop advanced electric forklift models with enhanced performance and features, end-use industries upgrade their fleets to remain competitive and efficient.
As the market evolves, collaborations among governments, manufacturers, and businesses are expected to play a pivotal role in driving further advancements and widespread adoption of forklifts in Asia.
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Target buyers of Asia Pacific forklift market databook
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Our clientele includes a mix of forklift market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific forklift market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific forklift market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific forklift market size, by country, 2018-2030 (US$M)
Asia Pacific Forklift Market Outlook Share, 2024 & 2030 (US$M)
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