Forklifts – Nov 2021

“In general, our prognosis for the forklift market is much positive than previously assumed. The 2021 shipments forecast in our 2021 edition are 22% higher than we forecast in the 2020 edition, while shipment forecasts for 2028 are 39% higher. To some extent, the sharp rebound in 2021 has raised the growth base across the whole of the next decade. Much of this is due to the increased determination, prevalent in the manufacturing and logistics sectors, to invest in automation solutions as a result of their experiences during the pandemic.”

Forklifts have seen new growth in demand in recent years driven by the rapid development of smart manufacturing and intelligent warehouses. External factors such as the strict emission standards and rising labor costs are also fueling demand, as the trend toward electrification becomes significant in global forklift market.

The 2nd edition of the well respected Interact Analysis market report on the global forklift industry focuses on Class 1-5 forklifts mainly in manufacturing and logistics environments with a focus on the electrification trend.