HYDERABAD, India, Oct. 23, 2025 /PRNewswire/ — According to Mordor Intelligence, the forklift trucks market is valued at USD 71.85 billion in 2025, is expected to reach USD 88.07 billion by 2030, with a 4.16% CAGR. This growth is fuelled by increased investments in warehouse automation, stricter emission regulations, and regular fleet replacements. A key trend is the shift from internal combustion (IC) engines to electric and hydrogen fuel-cell models, transforming power-train supply chains, charging infrastructure, and after-sales services. Lithium-ion batteries are facilitating this transition, offering multi-shift capabilities without frequent swaps, while hydrogen is gaining popularity in regions requiring fast refuelling.
Major Factors Shaping Market Dynamics
Strict Emission Standards Across Asia-Pacific Boost Demand for E-Forklifts
Stricter emission regulations across Asia-Pacific are driving the shift toward electric forklifts. China’s Stage VI standards now include non-road machinery, prompting factories and logistics centers to replace traditional engines. Chinese manufacturers with strong electric offerings benefit from government incentives, while international players are adapting by localizing battery production and fast-charging networks. These regulations are accelerating the adoption of electric forklifts, pushing down lifetime costs and ensuring long-term growth for the market.
Growth of Automated and E-commerce Warehousing in the North America Region
The rapid growth of e-commerce is driving a boom in warehouse construction across North America, especially in the U.S. and Canada. As online retail continues to expand, the demand for autonomous forklifts and semi-autonomous forklifts is increasing. These trucks integrate seamlessly with warehouse management systems, improving efficiency and addressing labor shortages. This technological shift ensures steady growth in forklift shipments, even as broader economic growth slows.
Lithium-ion Forklifts’ Adoption in European Cold-Chain Facilities
Cold-store operators in Europe, particularly in Germany, France, and the Nordics, are increasingly switching to lithium-ion forklifts. These batteries maintain over 95% capacity in freezing temperatures, reduce charging time, and last longer than traditional lead-acid batteries. As the cold-chain food and beverage sector grows, emissions regulations are further driving the adoption of lithium-ion solutions. Operators prioritize uptime and lower battery maintenance, while OEMs offering battery leasing and telematics are capturing higher margins with their cost-effective solutions.
Market Breakdown by Key Segments
By Power-train Type
- Internal Combustion Engine (ICE)
- Electric
- Lead-acid
- Li-ion
- Hydrogen Fuel-cell Vehicle (HFCV)
By Vehicle Class
- Class I (Electric Rider Trucks)
- Class II (Electric Narrow-Aisle)
- Class III (Electric Pallet)
- Class IV (ICE Cushion-Tire)
- Class V (ICE Pneumatic-Tire)
By Load Capacity
- Less than 5 Tons
- 5–15 Tons
- Above 15 Tons
By End-user Industry
- Manufacturing
- Logistics & Warehousing
- Construction & Infrastructure
- Retail & Wholesale
- Food & Beverage Cold-Chain
For a full breakdown of market size, segmentation data, and competitive intelligence on the forklift trucks market, read details of the Mordor Intelligence report at
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https://www.mordorintelligence.com/industry-reports/forklift-trucks-market?utm_source=prnewswire
All Players in the Forklift Trucks
- Toyota Industries Corp.
- KION Group AG
- Jungheinrich AG
- Hyster-Yale Materials Handling Inc.
- Mitsubishi Logisnext Co. Ltd.
- Crown Equipment Corp.
- Hangcha Group Co.
- Doosan Industrial Vehicles Co. Ltd.
- Komatsu Ltd.
- Anhui Heli Co. Ltd.
- Clark Material Handling Co.
- Caterpillar Inc. (CAT Lift Trucks)
- Hyundai Material Handling
- Lonking Holdings Ltd.
- Manitou Group
- Godrej & Boyce Mfg. Co.
- EP Equipment Co.
- Liugong Machinery Co.
- UniCarriers Corp.
- SANY Group Co.
Key Regional Market Insights
- The Middle East is seeing rapid growth, driven by infrastructure projects in Saudi Arabia, UAE, and Qatar.
- The U.S. is a leader in telematics, enabling fleet managers to track key metrics for better efficiency, while Canada benefits from growing inland ports.
- Germany is leading innovation in lithium-ion battery recycling, while Eastern European countries are seeing increased forklift adoption as supply chains move closer to key consumer markets.
Industry Related Reports
Forklift Battery Market: The Forklift Battery Market is projected to grow from USD 3.5 billion in 2025 to USD 4.6 billion by 2030, reflecting a CAGR of 5.57%. This growth is driven by the increasing adoption of electric forklifts, advancements in battery technologies, and a shift toward sustainable logistics practices.
US forklift Rental Market: The United States forklift rental market is projected to grow from USD 1.51 billion in 2025 to USD 2.05 billion by 2030, reflecting a 6.28% CAGR. Expansion of e-commerce & logistics warehousing drives the Market growth.
Get More information: https://www.mordorintelligence.com/industry-reports/united-states-forklift-rental-market?utm_source=prnewswire
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