Lift Trucks Market || SWOT, Industry Analysis (2017-2027) & Opportunity Assessment

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Lift trucks are one of the most widely used pieces of equipment in material handling, it is an industrial powered vehicle used to lift and transport goods for short distances. With growing concerns regarding environmental issues, lift trucks with power supply from electric motors or rechargeable industrial battery have attracted increasing demand in the recent years. Most of the lift trucks typically use two power-operated horizontal prongs which can be raised or lowered to load, transport, and offload the goods, especially goods stacked in pallets.

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Earlier, people who worked in factories and warehouses used customized systems for lifting and transporting loads which were not safe. This has led to increase in the demand for lift trucks that improved the safety of the operators as well as other workers.

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Lift trucks find application in every industry that manages transports, stores, and distributes manufactured products. Few of the prominent influencing factors impacting growth of the global lift truck market are discussed below.

  • Changing International Trade

With the aim to spread innovation, boost productivity and foster economic growth, international trade has witnessed implementation of several novel business strategies. After the downfall in 2016 and 2017, participation from the developing economies and changing trade policies will influence growth of international trade during the forecast. Being an important entity of the import-export activities, lift trucks market is likely to witness challenges of changing international trade.

  • Growing Warehousing Industry

With the emerging SMEs and dramatic expansion of e-commerce, warehouse constructions have become a common adjunct in every small or large manufacturing or distribution plants. As loading-unloading activities are common in warehouses, lift trucks are highly sought after vehicles in these facilities.

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  • Key Stakeholders

Key players in the global lift trucks market include Hyster-Yale Material handling Inc., Toyota Industries Corporation, Jungheinrich group, KION Group AG, and Mitsubishi Nichiyu Forklift Corporation.

  • A global logistic leader, Woodland Group has recently added 12 new lift trucks of Jungheinrich to the fleet at its Coventry distribution center.
  • H&K Equipment, a Pittsburgh-based material handling equipment company has announced complete authorization of Taylor Machine Works dealership for Western Pennsylvania, the Northern Panhandle of West Virginia, Eastern Ohio, and Garrett and Allegany counties in Maryland. Taylor Machine Works manufactures heavy-duty trucks, lift trucks and container handlers.
  • Toyota Material Handling UK has recently announced sponsorship of the National Forklift Safety Convention 2018, organized by the Forklift Truck Association.

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