Saudi Arabia Forklift Market Size & Outlook, 2024-2030
Saudi Arabia forklift market, 2018-2030 (US$M)
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Saudi Arabia forklift market highlights
- The Saudi Arabia forklift market generated a revenue of USD 337.4 million in 2024 and is expected to reach USD 554.1 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 8.6% 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 337.4 million |
| Market revenue in 2030 | USD 554.1 million |
| Growth rate | 8.6% (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, Saudi Arabia accounted for 0.5% of the global forklift market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, UAE forklift market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,809.3 million by 2030.
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Forklift Market Scope
Forklift Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia 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 67.46% in 2024. Horizon Databook has segmented the Saudi Arabia forklift market based on internal combustion, electric covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for forklifts in the country can be attributed to the growth of the petrochemical and export industries. The country holds a major share of crude oil reserves, and the use of forklifts to carry equipment, oil barrels, and containers is expected to drive the demand for these forklifts.
Moreover, Saudi Arabia is a major exporter of crude petroleum, polymers, construction material, and plastic, among other goods. The deployment of forklifts, pallet trucks, and pallet stackers enables easy loading, unloading, and transporting of commodities throughout the port.
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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 country-level data and insights on the Saudi Arabia forklift market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia forklift market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia forklift market size, by power source, 2018-2030 (US$M)
Saudi Arabia Forklift Market Outlook Share, 2024 & 2030 (US$M)
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