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General Forklift Trends from 2020-2025

If you are looking for a conscience summary of the trends in the forklift trucks market for 2020- 2025, you have come to the right place. In fact, in the post below, you can get details on types of forklift and the regions that can expect growth at this time. As well as the key trends to watch out for as well. Just keep reading for more. 

General Forklift Trends from 2020-2025

While the forklift truck market is fragmented, there are still some key trends that anyone in the industry needs to be aware of for the period of 2020-2025. 

The first of these is that the demand for forklifts should continue to increase from a range of areas. The first of these is the eCommerce market, where smaller, electric-powered vehicles are most in demand. 

While the second is the contraction industry. Where a move from ICE to electric version will also be noticeable. 

In fact, energy consumption will be a massive issue in the forklift industry from 2020-2025 with electric-powered machines, being most popular. Although we can also expect some innovative approaches to energy provision such as hydrogen cells too. Something that experts suggest is likely to drive the CAGR by 6%. 

In terms of fragmentation, we will likely see continued competition between key providers but also come collaboration as well. In fact, market leaders such as JBT and Hyster-Yale Materials Handling are set to collaborate in creating an automated vehicle already. With automation, generally also set to be a significant trend for the near future of the forklift industry in 2020-2050.  

Types of forklift that can expect growth from 2020-2025

Internal combustion engine forklifts sales will slow. While electric forklift sales will increase. The reason for this is due to several factors. The first is that electric forklifts are more energy-efficient and cleaner for the environment as well. Sustainability is a massive issue for consumers and businesses alike. 

Additionally, the electric forklifts technology has now reached a point where they can rival any ICE model. Something that means businesses can access the benefits above, without seeing a dip in productivity. 

Finally, electric forklifts are set to be the most significant growth type from 2020-2025 because they are cheaper to run and safer for those working in the environment they share too. 

Regions that can expect growth in forklift sales from 2020-2025

Finally, let's take a look at the regions in which we can expect the most growth in forklift sales from 2020-2025. In fact, there are two issues to differentiate between here. That is which region has the largest forklift truck market, and which is the fastest-growing. 

The answer to the first question is unsurprising North America, with the industry offering over USD 25 billion annually to the US GDP, and supporting more than 200,000 US jobs per year. A situation that is set to stay the same during the period we are talking about here. 

However, when it comes to the region that has the fastest growing forklift sales, then the Asia - Pacific region, particularly China and Japan, are the clear winners. A fact worth knowing for anyone working in or associated with the forklift industry looking to plan for the future. 
Posted by: Extraman Recruitment