India Forklift Market Size & Outlook, 2024-2030
India forklift market, 2018-2030 (US$M)
Related Markets
India forklift market highlights
- The India forklift market generated a revenue of USD 3,058.7 million in 2024 and is expected to reach USD 7,188.7 million by 2030.
- The India market is expected to grow at a CAGR of 15.3% 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.
Forklift market data book summary
| Market revenue in 2024 | USD 3,058.7 million |
| Market revenue in 2030 | USD 7,188.7 million |
| Growth rate | 15.3% (CAGR from 2024 to 2030) |
| Largest segment | Electric |
| Fastest growing segment | Electric |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 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, India accounted for 4.2% of the global forklift market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China 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 7,188.7 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Forklift Market Scope
Forklift Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
India 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 74.12% in 2024. Horizon Databook has segmented the India forklift market based on internal combustion, electric covering the revenue growth of each sub-segment from 2018 to 2030.
India's automotive industry is considered one of the critical sectors that drive the country's economic growth and industrial development. With a growing focus on sustainability and operational efficiency, the automotive industry in India is rapidly shifting to electric forklifts as a sustainable solution for material handling needs.
As the automotive industry continues to prioritize technological innovation, the adoption of electric forklifts is expected to increase over the forecast period. Collaborations among the government, forklift manufacturers, and automotive companies are expected to play a pivotal role in promoting sustainable material handling practices within the Indian automotive industry.
For instance, in July 2023, Vedanta Aluminum & Power, an aluminum producer company, announced the deployment of 44 electric forklifts for operations in facilities located in Chhattisgarh and Odisha. Vedanta Aluminum & Power, in collaboration with Taron Lift & Move and GEAR (Gemini Equipment and Rentals) India, plans to make substantial progress toward decarbonizing its fleet of industrial vehicles.
Reasons to subscribe to India forklift market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of India forklift market databook
-
Our clientele includes a mix of forklift market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
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 country-level data and insights on the India forklift market , including forecasts for subscribers. This country databook contains high-level insights into India forklift market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
India forklift market size, by power source, 2018-2030 (US$M)
India Forklift Market Outlook Share, 2024 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
