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    US Forklift Trucks Market

    ID: MRFR/CO/18947-HCR
    111 Pages
    Snehal Singh
    September 2025

    US Forklift Trucks Market Research Report By Technology (Electric Powered, Internal Combustion Engine Powered), By Capacity (Below 5 tons, Above 5 tons) and By Application (Manufacturing, Logistic, Retail & Wholesale, Others) - Forecast to 2035

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    US Forklift Trucks Market Research Report - Forecast Report 2035 Infographic
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    Table of Contents

    US Forklift Trucks Market Summary

    The US Forklift Trucks market is poised for substantial growth, projected to reach 22.5 USD billion by 2035.

    Key Market Trends & Highlights

    US Forklift Trucks Key Trends and Highlights

    • The market valuation for US Forklift Trucks is estimated at 10.6 USD billion in 2024.
    • From 2025 to 2035, the market is expected to grow at a compound annual growth rate of 7.08%.
    • By 2035, the market is anticipated to expand to 22.5 USD billion, reflecting robust demand.
    • Growing adoption of automation technology due to increased efficiency requirements is a major market driver.

    Market Size & Forecast

    2024 Market Size 10.6 (USD Billion)
    2035 Market Size 22.5 (USD Billion)
    CAGR (2025-2035) 7.08%

    Major Players

    Nissan Forklift Corporation, Crown Equipment Corporation, UniCarriers Americas Corporation, Forklift Systems, HysterYale Materials Handling, Toyota Material Handling, Raymond Corporation, Jungheinrich AG, Clark Material Handling Company, Cat Lift Trucks, Yale Materials Handling Corporation, Hoisting Equipment Capabilities, KION Group, Mitsubishi Logisnext, Doosan Industrial Vehicles

    US Forklift Trucks Market Trends

    The US Forklift Trucks Market is currently experiencing significant trends shaped by factors such as automation, safety regulations, and sustainability initiatives. The increasing investment in warehouse automation and the adoption of robotics in the logistics sector are major market drivers. Companies are looking to enhance efficiency and reduce labor costs, spurring demand for advanced forklift systems that can integrate with automated processes. There is also an emphasis on safety, with new regulations being implemented to ensure workplace safety standards are met.

    This is pushing manufacturers to develop forklifts equipped with advanced safety features, such as anti-collision systems and improved visibility for operators.Opportunities to be explored include the rising popularity of electric and alternative-fuel forklifts, driven by environmental concerns and government incentives for reducing emissions. The shift towards greener alternatives is becoming essential as businesses seek to meet sustainability goals while potentially lowering operating costs. Additionally, the growth of e-commerce is creating a demand for efficient material handling equipment in warehouses. As fulfillment centers expand across the US, the need for versatile and agile forklift trucks increases.

    Trends in recent times show a clear movement towards connectivity and smart technology integration.Forklift manufacturers are developing IoT-enabled trucks that allow for real-time monitoring and data analysis, contributing to better fleet management and maintenance practices. Furthermore, the ongoing labor shortages in sectors reliant on manual labor are leading businesses to invest in more automated solutions, ensuring that forklift technology continues to evolve in response to both market demands and operational challenges within the US landscape.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    US Forklift Trucks Market Drivers

    Market Segment Insights

    Forklift Trucks Market Technology Insights

    The US Forklift Trucks Market is experiencing noteworthy growth, particularly in the Technology segment attributed to innovations and advancements. This segment includes various technologies powering forklift trucks, specifically Electric Powered and Internal Combustion Engine Powered forklifts. Electric Powered forklifts have gained traction due to their efficiency, lower operational costs, and positive environmental impact. With increasing regulations emphasizing sustainability and reducing carbon emissions, Electric Powered forklifts are becoming a more attractive option for businesses aiming for greener operations.

    Moreover, their performance in indoor settings, such as warehouses and distribution centers, further enhances their appeal, as they produce less noise and eliminate harmful exhaust emissions. On the other hand, Internal Combustion Engine Powered forklifts continue to hold a significant presence within the market, particularly in sectors like construction and heavy manufacturing, where outdoor functionality and versatility are essential. The robustness and high lifting capacity of Internal Combustion Engine Powered models make them suitable for demanding environments, contributing to their stable demand.

    While these forklifts typically require more maintenance compared to their electric counterparts, they are often preferred for heavy-duty applications where power and performance are paramount. The choice between these technologies often depends on operational needs, with Electric Powered forklifts being regarded for sustainability, while Internal Combustion Engine Powered units are appreciated for their reliability in tough outdoor conditions. As businesses navigate the complexities of sustainability and efficiency, the technology used in forklifts plays a crucial role in their operational strategies, reflecting the changing dynamics in manufacturing, logistics, and warehousing sectors.

    The US Forklift Trucks Market data shows a noticeable inclination towards versatile solutions catering to both environmental concerns and operational demands. As both Electric Powered and Internal Combustion Engine Powered technologies evolve, stakeholders in the market will continue to explore opportunities in enhancing efficiency, reducing costs, and promoting a sustainable future in logistics and material handling. In summary, the US Forklift Trucks Market segmentation highlights the grip of these two technologies as key drivers in defining market trends and choices, driving innovation to meet the needs of various industries effectively.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Forklift Trucks Market Capacity Insights

    The US Forklift Trucks Market, particularly in terms of capacity, showcases distinct characteristics that are vital for various industries. The segment can be broadly classified into below 5 tons and above 5 tons categories. The below 5 tons category is significant, reflecting the diverse operational needs of warehouses and manufacturing units that require agility and precision for moving lighter materials in confined spaces.

    This segment represents a majority holding in terms of unit demand due to the growing trend toward e-commerce and just-in-time inventory practices that necessitate flexible handling solutions.Conversely, the above 5 tons capacity is also critical, catering to heavy lifting operations typically found in sectors such as construction and large-scale manufacturing. This segment is marked by advancements in technology, enhancing safety, efficiency, and productivity for operators managing more substantial loads.

    The overall demand for capacity segmentation in the US Forklift Trucks Market is driven by the increasing emphasis on automation and the ongoing evolution in logistics and supply chain management, highlighting opportunities for innovation in equipment capacity to meet the dynamic market demands.

    Forklift Trucks Market Application Insights

    The Application segment of the US Forklift Trucks Market plays a crucial role in catering to various industries that rely heavily on material handling equipment. The majority of the market is driven by sectors such as Manufacturing, Logistics, and Retail and Wholesale, each holding significant importance in facilitating efficient operations. Manufacturing plants utilize forklifts to streamline production processes, ensuring timely movement of goods and raw materials, which enhances productivity and lowers operational costs.

    In the Logistics sector, the demand for forklifts has surged due to the growth of e-commerce and the need for streamlined warehouse operations, thus promoting the rapid movement of goods to consumers.The Retail and Wholesale sector benefits from forklifts by optimizing inventory management and enhancing the efficiency of loading and unloading processes in warehouses and stores. Furthermore, opportunities exist in niche applications within this market, such as specialized forklifts designed for specific tasks or materials, which can cater to unique industry needs.

    Overall, the Application segment is pivotal in shaping the dynamics of the US Forklift Trucks Market, reflecting its integral contribution to various industries.

    Get more detailed insights about US Forklift Trucks Market Research Report - Forecast Report 2035

    Regional Insights

    Key Players and Competitive Insights

    The US Forklift Trucks Market is characterized by intense competition and innovation, driven by the need for efficient material handling solutions across various industries. Companies within this market continually strive to enhance their product lines, focusing on improved technology, emissions compliance, ergonomics, and automation features. The competitive landscape is shaped by both established manufacturers and new players, each vying for market share through strategic investments, product development, and partnerships.

    Key drivers fueling the growth of this market include an increase in e-commerce, the expansion of the warehousing sector, and the escalating demand for automation in logistics and supply chain operations, all of which require advanced forklift solutions tailored to changing industry needs. As such, understanding the competitive dynamics is essential for stakeholders looking to navigate this evolving landscape successfully.Nissan Forklift Corporation has positioned itself as a noteworthy player in the US Forklift Trucks Market, leveraging its reputation for producing durable and reliable equipment suitable for a variety of applications.

    The company is recognized for its commitment to quality and innovation, offering a wide range of models that cater to different handling needs, from electric to internal combustion units. One of the key strengths of Nissan Forklift Corporation lies in its strong distribution network and customer service, ensuring that clients receive timely support and equipment availability. The corporation continuously invests in research and development to incorporate the latest technology into its products, enhancing performance and efficiency.

    Furthermore, Nissan’s efforts to improve ergonomics and operator comfort in its forklift designs have contributed to increased user satisfaction, solidifying its position in the market. Crown Equipment Corporation is another major contender in the US Forklift Trucks Market, noted for its comprehensive suite of material handling equipment and tailored services. The company specializes in electric lift trucks and has established a strong foothold, delivering solutions that enhance productivity and safety in warehousing and distribution environments. Key products offered by Crown include pallet jacks, reach trucks, and stackers, which showcase cutting-edge technology designed for optimal performance.

    Crown Equipment Corporation boasts significant market presence through its well-established dealer network and after-sales support, which fosters long-term customer relationships. The company is recognized for its proactive approach to mergers and acquisitions, often seeking strategic partnerships that expand its product portfolio and market reach. Moreover, Crown maintains a focus on sustainability and energy-efficient solutions, aligning its offerings with modern environmental standards while further enhancing its competitive position within the US market.

    Key Companies in the US Forklift Trucks Market market include

    Industry Developments

    The US Forklift Trucks Market has seen significant developments recently, with companies enhancing their technological offerings and focusing on sustainability. Toyota Material Handling has been investing in advanced automation solutions, while HysterYale Materials Handling has been expanding its electric forklift lineup in response to growing demand for eco-friendly options. Additionally, in September 2023, Mitsubishi Logisnext announced a strategic partnership aimed at bolstering its distribution network, reflecting a trend towards collaborative growth among major players. In the same month, Crown Equipment Corporation unveiled innovations in warehouse management technologies to streamline operations.

    The market is also experiencing a steady growth trajectory, with a valuation increase driven by heightened e-commerce activities and supply chain demands. Over the past few years, firms such as Doosan Industrial Vehicles and UniCarriers Americas Corporation have pursued aggressive expansion strategies, including facility upgrades and workforce enhancements to meet increasing customer needs. In October 2022, Yale Materials Handling Corporation expanded its product portfolio with the launch of a new line of electric pallet trucks, reinforcing its position in the competitive landscape. The competitive environment has fostered an emphasis on Research and Development, reflecting the market's dynamic nature.

    Market Segmentation

    Outlook

    • Manufacturing
    • Logistic
    • Retail & Wholesale
    • Others

    Forklift Trucks Market Capacity Outlook

    • Below 5 tons
    • Above 5 tons

    Forklift Trucks Market Technology Outlook

    • Electric Powered
    • Internal Combustion Engine Powered

    Forklift Trucks Market Application Outlook

    • Manufacturing
    • Logistic
    • Retail & Wholesale
    • Others

    Report Scope

    Report Attribute/Metric Source: Details
    MARKET SIZE 2018 9.49(USD Billion)
    MARKET SIZE 2024 10.6(USD Billion)
    MARKET SIZE 2035 22.5(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 7.082% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Billion
    KEY COMPANIES PROFILED Nissan Forklift Corporation, Crown Equipment Corporation, UniCarriers Americas Corporation, Forklift Systems, HysterYale Materials Handling, Toyota Material Handling, Raymond Corporation, Jungheinrich AG, Clark Material Handling Company, Cat Lift Trucks, Yale Materials Handling Corporation, Hoisting Equipment Capabilities, KION Group, Mitsubishi Logisnext, Doosan Industrial Vehicles
    SEGMENTS COVERED Technology, Capacity, Application
    KEY MARKET OPPORTUNITIES Increased automation adoption, Growing e-commerce demand, Sustainable electric forklift trends, Aging fleet replacement, Enhanced safety technologies integration
    KEY MARKET DYNAMICS Technological advancements, Rising e-commerce demand, Increasing warehouse automation, Sustainability initiatives, Labor shortages
    COUNTRIES COVERED US

    Market Highlights

    Author
    Snehal Singh
    Assistant Manager - Research

    High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. By implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in Packaging, Construction, and Equipment domains. She handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.

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    FAQs

    What is the current market value of the US Forklift Trucks Market in 2024?

    The US Forklift Trucks Market is expected to be valued at 10.6 billion USD in 2024.

    What is the projected market value of the US Forklift Trucks Market by 2035?

    By 2035, the US Forklift Trucks Market is projected to reach a value of 22.5 billion USD.

    What is the expected CAGR for the US Forklift Trucks Market from 2025 to 2035?

    The expected CAGR for the US Forklift Trucks Market from 2025 to 2035 is 7.082 percent.

    Which technology segment is anticipated to have the largest market share in 2024?

    In 2024, the Internal Combustion Engine Powered segment is anticipated to have the largest market share, valued at 6.6 billion USD.

    What will be the market value of Electric Powered Forklift Trucks by 2035?

    The market value of Electric Powered Forklift Trucks is expected to reach 8.5 billion USD by 2035.

    Who are the key players in the US Forklift Trucks Market?

    Major players in the US Forklift Trucks Market include Nissan Forklift Corporation, Crown Equipment Corporation, and Toyota Material Handling, among others.

    What are the key applications driving the growth of the US Forklift Trucks Market?

    Key applications driving growth include warehouse operations, construction, and manufacturing sectors.

    What is the market growth rate for Electric Powered Forklift Trucks?

    The Electric Powered Forklift Trucks segment is expected to grow significantly as part of the broader market growth during the forecast period.

    How does the internal combustion segment compare to the electric segment in terms of market size?

    In 2024, the Internal Combustion Engine Powered segment is valued at 6.6 billion USD, compared to 4.0 billion USD for the Electric Powered segment.

    What are the emerging trends impacting the US Forklift Trucks Market?

    Emerging trends include advancements in electric technology and increasing demand for warehouse automation.

    1. EXECUTIVE SUMMARY
    2. Market Overview
    3. Key Findings
    4. Market Segmentation
    5. Competitive Landscape
    6. Challenges and Opportunities
    7. Future Outlook
    8. MARKET INTRODUCTION
    9. Definition
    10. Scope of the study
    11. Research Objective
    12. Assumption
    13. Limitations
    14. RESEARCH METHODOLOGY
    15. Overview
    16. Data Mining
    17. Secondary Research
    18. Primary Research
    19. Primary Interviews and Information Gathering Process
    20. Breakdown of Primary Respondents
    21. Forecasting Model
    22. Market Size Estimation
    23. Bottom-Up Approach
    24. Top-Down Approach
    25. Data Triangulation
    26. Validation
    27. MARKET DYNAMICS
    28. Overview
    29. Drivers
    30. Restraints
    31. Opportunities
    32. MARKET FACTOR ANALYSIS
    33. Value chain Analysis
    34. Porter's Five Forces Analysis
    35. Bargaining Power of Suppliers
    36. Bargaining Power of Buyers
    37. Threat of New Entrants
    38. Threat of Substitutes
    39. Intensity of Rivalry
    40. COVID-19 Impact Analysis
    41. Market Impact Analysis
    42. Regional Impact
    43. Opportunity and Threat Analysis
    44. US Forklift Trucks Market, BY Technology (USD Billion)
    45. Electric Powered
    46. Internal Combustion Engine Powered
    47. US Forklift Trucks Market, BY Capacity (USD Billion)
    48. Below 5 tons
    49. Above 5 tons
    50. US Forklift Trucks Market, BY Application (USD Billion)
    51. Manufacturing
    52. Logistic
    53. Retail & Wholesale
    54. Others
    55. Competitive Landscape
    56. Overview
    57. Competitive Analysis
    58. Market share Analysis
    59. Major Growth Strategy in the Forklift Trucks Market
    60. Competitive Benchmarking
    61. Leading Players in Terms of Number of Developments in the Forklift Trucks Market
    62. Key developments and growth strategies
    63. New Product Launch/Service Deployment
    64. Merger & Acquisitions
    65. Joint Ventures
    66. Major Players Financial Matrix
    67. Sales and Operating Income
    68. Major Players R&D Expenditure. 2023
    69. Company Profiles
    70. Nissan Forklift Corporation
    71. Financial Overview
    72. Products Offered
    73. Key Developments
    74. SWOT Analysis
    75. Key Strategies
    76. Crown Equipment Corporation
    77. Financial Overview
    78. Products Offered
    79. Key Developments
    80. SWOT Analysis
    81. Key Strategies
    82. UniCarriers Americas Corporation
    83. Financial Overview
    84. Products Offered
    85. Key Developments
    86. SWOT Analysis
    87. Key Strategies
    88. Forklift Systems
    89. Financial Overview
    90. Products Offered
    91. Key Developments
    92. SWOT Analysis
    93. Key Strategies
    94. HysterYale Materials Handling
    95. Financial Overview
    96. Products Offered
    97. Key Developments
    98. SWOT Analysis
    99. Key Strategies
    100. Toyota Material Handling
    101. Financial Overview
    102. Products Offered
    103. Key Developments
    104. SWOT Analysis
    105. Key Strategies
    106. Raymond Corporation
    107. Financial Overview
    108. Products Offered
    109. Key Developments
    110. SWOT Analysis
    111. Key Strategies
    112. Jungheinrich AG
    113. Financial Overview
    114. Products Offered
    115. Key Developments
    116. SWOT Analysis
    117. Key Strategies
    118. Clark Material Handling Company
    119. Financial Overview
    120. Products Offered
    121. Key Developments
    122. SWOT Analysis
    123. Key Strategies
    124. Cat Lift Trucks
    125. Financial Overview
    126. Products Offered
    127. Key Developments
    128. SWOT Analysis
    129. Key Strategies
    130. Yale Materials Handling Corporation
    131. Financial Overview
    132. Products Offered
    133. Key Developments
    134. SWOT Analysis
    135. Key Strategies
    136. Hoisting Equipment Capabilities
    137. Financial Overview
    138. Products Offered
    139. Key Developments
    140. SWOT Analysis
    141. Key Strategies
    142. KION Group
    143. Financial Overview
    144. Products Offered
    145. Key Developments
    146. SWOT Analysis
    147. Key Strategies
    148. Mitsubishi Logisnext
    149. Financial Overview
    150. Products Offered
    151. Key Developments
    152. SWOT Analysis
    153. Key Strategies
    154. Doosan Industrial Vehicles
    155. Financial Overview
    156. Products Offered
    157. Key Developments
    158. SWOT Analysis
    159. Key Strategies
    160. References
    161. Related Reports
    162. US Forklift Trucks Market SIZE ESTIMATES & FORECAST, BY TECHNOLOGY, 2019-2035 (USD Billions)
    163. US Forklift Trucks Market SIZE ESTIMATES & FORECAST, BY CAPACITY, 2019-2035 (USD Billions)
    164. US Forklift Trucks Market SIZE ESTIMATES & FORECAST, BY APPLICATION, 2019-2035 (USD Billions)
    165. PRODUCT LAUNCH/PRODUCT DEVELOPMENT/APPROVAL
    166. ACQUISITION/PARTNERSHIP
    167. MARKET SYNOPSIS
    168. US FORKLIFT TRUCKS MARKET ANALYSIS BY TECHNOLOGY
    169. US FORKLIFT TRUCKS MARKET ANALYSIS BY CAPACITY
    170. US FORKLIFT TRUCKS MARKET ANALYSIS BY APPLICATION
    171. KEY BUYING CRITERIA OF FORKLIFT TRUCKS MARKET
    172. RESEARCH PROCESS OF MRFR
    173. DRO ANALYSIS OF FORKLIFT TRUCKS MARKET
    174. DRIVERS IMPACT ANALYSIS: FORKLIFT TRUCKS MARKET
    175. RESTRAINTS IMPACT ANALYSIS: FORKLIFT TRUCKS MARKET
    176. SUPPLY / VALUE CHAIN: FORKLIFT TRUCKS MARKET
    177. FORKLIFT TRUCKS MARKET, BY TECHNOLOGY, 2025 (% SHARE)
    178. FORKLIFT TRUCKS MARKET, BY TECHNOLOGY, 2019 TO 2035 (USD Billions)
    179. FORKLIFT TRUCKS MARKET, BY CAPACITY, 2025 (% SHARE)
    180. FORKLIFT TRUCKS MARKET, BY CAPACITY, 2019 TO 2035 (USD Billions)
    181. FORKLIFT TRUCKS MARKET, BY APPLICATION, 2025 (% SHARE)
    182. FORKLIFT TRUCKS MARKET, BY APPLICATION, 2019 TO 2035 (USD Billions)
    183. BENCHMARKING OF MAJOR COMPETITORS

    US Forklift Trucks Market Segmentation

     

     

     

    • Forklift Trucks Market By Technology (USD Billion, 2019-2035)

      • Electric Powered
      • Internal Combustion Engine Powered

     

    • Forklift Trucks Market By Capacity (USD Billion, 2019-2035)

      • Below 5 tons
      • Above 5 tons

     

    • Forklift Trucks Market By Application (USD Billion, 2019-2035)

      • Manufacturing
      • Logistic
      • Retail & Wholesale
      • Others

     

     

     

     

     

     

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