Middle East & Africa Forklift Market Size & Outlook
Middle East & Africa forklift market, 2018-2030 (US$M)
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MEA forklift market highlights
- The MEA forklift market generated a revenue of USD 1,597.3 million in 2024.
- The market is expected to grow at a CAGR of 10.4% 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, UAE is expected to register the highest CAGR from 2025 to 2030.
MEA data book summary
| Market revenue in 2024 | USD 1,597.3 million |
| Market revenue in 2030 | USD 2,898.6 million |
| Growth rate | 10.4% (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, MEA region accounted for 2.2% 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 |
|---|
Middle East & Africa 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 68.19% in 2024. Horizon Databook has segmented the Middle East & Africa forklift market based on internal combustion, electric covering the revenue growth of each sub-segment from 2018 to 2030.
MEA forklift market was Increasing construction activities, high-volume imports and exports, shale gas extraction, oil exploration, and the rise of e-commerce in the Middle Eastern and African region is expected to see an increase in the use of forklifts.
Rapid urbanization, industrialization, and the introduction of electric material handling equipment are further fueling the demand for electric forklifts in the region.
Developing economies in Africa, such as Kenya, South Africa, Egypt, and Nigeria, are witnessing an industrial boom, which is expected to drive demand for forklifts.
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Target buyers of Middle East & Africa 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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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa forklift market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa forklift market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA forklift market size, by country, 2018-2030 (US$M)
Middle East & Africa Forklift Market Outlook Share, 2024 & 2030 (US$M)
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