South Korea Forklift Market Size & Outlook, 2024-2030
South Korea forklift market, 2018-2030 (US$M)
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South Korea forklift market highlights
- The South Korea forklift market generated a revenue of USD 4,060.7 million in 2024 and is expected to reach USD 8,570.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 13.3% 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 4,060.7 million |
| Market revenue in 2030 | USD 8,570.0 million |
| Growth rate | 13.3% (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, South Korea accounted for 5.6% 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.
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Forklift Market Scope
Forklift Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea 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 72.85% in 2024. Horizon Databook has segmented the South Korea forklift market based on internal combustion, electric covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea forklift market adoption of forklifts in the South Korean semiconductor industry is driven by the industry’s specific requirements for cleanroom compatibility, electrostatic discharge protection, energy efficiency, indoor maneuverability, and smart technologies.
As the semiconductor industry continues to emphasize technological innovation and sustainable practices, the adoption of electric forklifts is expected to increase in the coming years.
Electric forklifts provide a reliable and eco-friendly solution for the material handling needs of semiconductor manufacturing facilities, contributing to a greener and more efficient semiconductor industry in South Korea.
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Target buyers of South Korea 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 country-level data and insights on the South Korea forklift market , including forecasts for subscribers. This country databook contains high-level insights into South Korea forklift market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea forklift market size, by power source, 2018-2030 (US$M)
South Korea Forklift Market Outlook Share, 2024 & 2030 (US$M)
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