South Africa Forklift Market Size & Outlook, 2024-2030
South Africa forklift market, 2018-2030 (US$M)
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South Africa forklift market highlights
- The South Africa forklift market generated a revenue of USD 145.3 million in 2024 and is expected to reach USD 183.2 million by 2030.
- The South Africa market is expected to grow at a CAGR of 3.9% 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 145.3 million |
| Market revenue in 2030 | USD 183.2 million |
| Growth rate | 3.9% (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, South Africa accounted for 0.2% of the global forklift market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In 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 |
|---|
South 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 64.07% in 2024. Horizon Databook has segmented the South Africa forklift market based on internal combustion, electric covering the revenue growth of each sub-segment from 2018 to 2030.
South Africa forklift market surge in the demand for forklifts in the country is driven by the increasing use of forklifts in industries such as manufacturing, Fast Moving Consumer Goods (FMCG), and logistics.
In addition to the demand in the ecommerce and manufacturing industries, rapid urbanization and infrastructure development in the country are also propelling the demand for forklifts.
Forklift fleet operators are inclined toward the use of electric forklifts due to increasing emphases on carbon emission reduction and reduction in operating costs. Major electric forklift manufacturers are establishing dealership networks in the country to establish their foothold and expand their market share.
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Our clientele includes a mix of forklift market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa forklift market , including forecasts for subscribers. This country databook contains high-level insights into South Africa forklift market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa forklift market size, by power source, 2018-2030 (US$M)
South Africa Forklift Market Outlook Share, 2024 & 2030 (US$M)
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