U.S. Forklift Market Share

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U.S. Forklift Market Size, Shares, Analysis, Price Trends,
Competitive Strategies and Forescast to 2025 | Hexa Research
“The U.S. forklift market size was valued at USD 10.01 billion in
2017 and is expected to reach USD 11.94 billion by 2025”
11 September 2018, The U.S. Forklift Market size to reach USD 11.94 billion by 2025, owing to the rise in the
construction, building and infrastructural activities in the country. The U.S. forklift market is expanding owing
to the swift infrastructural development and industrialization, mainly in the industrial, commercial, and
housing industry and is expected to grow significantly over the forecast period. The Forklift industry in the
U.S. is undergoing constant innovations and technological advancements owing to the rapid advancement of
fabrication techniques and high end use of forklifts in the construction industry, which is expected to fuel the
forklift market growth over the forecast period.
The electric type forklift trucks segments held the largest share in the market and is expected to grow at a
significant rate over the forecast period. The electric type forklift trucks are gaining popularity owing to the
employment of several cutting-edge technologies and the ease of use in various end-use applications
throughout industries such as construction industry, manufacturing industry, freight handling end-uses which
is anticipated to fuel the growth of the forklift industry over the forecast period. The electric forklift trucks
are used for most of the warehouse and indoor applications. They also come in compact sizes and can move
standard loads while sustaining the capacity to completely function in small spaces around 11 feet wide.
More and more number of industries and companies are nowadays replacing, purchasing and upgrading to
electric forklifts as they are more energy-efficient and environmentally friendly. Electric forklifts are a
genuine substitute to lift trucks which are fueled by liquid and are more cost-effective and economical to run,
equally potent and powerful, safe, easy to maintain, cleaner and quieter.
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The electric forklift trucks are cheaper and easy to maintain and operate as compared to IC forklifts. Electric
forklifts needs very low maintenance due to the presence of few moving parts, requires few fluids
replacement such as engine oil, filters, and coolant. Furthermore, they also have significantly less hours lost
due to maintenance interruption and failure or breakdown and just need an AC power source to charge or a
spare battery which is expected to drive the demand for electric forklifts over the forecast period.
Forklifts trucks and industrial trucks mainly offer the competence of lifting, engaging, repositioning,
depositing, and carrying several types of loads which is further anticipated to complement the industry
growth in the coming years. The ever-increasing demand for forklift trucks in logistics storage and
warehousing is estimated to boost the growth of the market over the forecast period. The demand for forklift
trucks is growing on account of the rising trend of electric forklift being used by the warehouses and material
handling divisions as these electric forklift are energy efficient and environment friendly as compared to
internal combustion engine (ICE) forklift which is anticipated to fuel the product penetration of forklifts over
the forecast period in the country over the forecast period.
The U.S. forklift market is a highly fragmented in nature with a large number of existing and emerging new
players. Major players in the forklift industry comprise of companies such as Hyster-Yale Material handling
Inc., Crown Equipment Corporation, Cat Lift Trucks, Clark Material Handling, Toyota Material Handling U.S.A.
and several others. Competitors are taking strategic initiatives and gaining confidence of their consumers to
occupy a good market share and boost the competition in the market over the forecast period.
Hexa Research has segmented the U.S. forklift market report based on type and end -use:
Segmentation by type, 2015 - 2025
• Internal combustion forklift
• Electric forklift
• Automated guided forklift
Segmentation by end-use, 2015 - 2025
• Construction industry
• Manufacturing industry
• Freight handling applications
Key players analyzed:
• Hyster-Yale Material handling Inc.
• Crown Equipment Corporation
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• Cat Lift Trucks
• Clark Material Handling
• Toyota Material Handling U.S.A.
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Table of Contents of the U.S. Forklift Market:
Chapter 1. Executive Summary
Chapter 2. Methodology and Scope
2.1. Research methodology
2.2. Assumptions
2.3. List of data sources
Chapter 3. Introduction
3.1. Research scope & market segmentation
Chapter 4. Forklift Market Trends: Drivers & Opportunities
4.1. Key industry trends
4.1.1. Market drivers
4.1.2. Market Restraints
4.2. Supply chain analysis
4.3. Porter's Five Forces’ analysis
Chapter 5. Forklift Market, By Type
5.1. U.S. forklift market movement, by type, 2017 & 2025
5.1.1. Internal combustion forklift
5.1.1.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
5.1.2. Electric forklift
5.1.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
5.1.3. Automated guided forklift
5.1.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
Chapter 6. Forklift Market Trends, By End-use
6.1. U.S. forklift market movement, by end-use, 2017 & 2025
6.1.1. Construction industry
6.1.1.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
6.1.2. Manufacturing industry
6.1.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
6.1.3. Freight handling applications
6.1.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
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Chapter 7. Competitive Landscape
7.1. Company market share analysis, 2017
7.2. Strategic framework
7.3. Company profiles
7.3.1. Hyster-Yale Material handling Inc.
7.3.1.1. Company Overview
7.3.1.2. Product Benchmarking
7.3.1.3. Financial Performance
7.3.1.4. Recent Initiatives
7.3.2. Crown Equipment Corporation
7.3.2.1. Company Overview
7.3.2.2. Product Benchmarking
7.3.2.3. Financial Performance
7.3.2.4. Recent Initiatives
7.3.3. Cat Lift Trucks
7.3.3.1. Company Overview
7.3.3.2. Product Benchmarking
7.3.3.3. Financial Performance
7.3.3.4. Recent Initiatives
7.3.4. Clark Material Handling
7.3.4.1. Company Overview
7.3.4.2. Product Benchmarking
7.3.4.3. Financial Performance
7.3.4.4. Recent Initiatives
7.3.5. Toyota Material Handling U.S.A.
7.3.5.1. Company Overview
7.3.5.2. Product Benchmarking
7.3.5.3. Financial Performance
7.3.5.4. Recent Initiatives
7.3.6. List of other vendors
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The U.S. Forklift market size to reach USD 11.94 billion by 2025.

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