Forklift Trucks Market Share

Market Share of Forklift Trucks Industry

Some of the key players in the forklift trucks market are Komastu Ltd, Toyota Industries Corporation, KION Group AG, Hyster-Yale Material Handling Inc., Jungheinrich Group, Mitsubishi Nichiyu Forklift Corporation, Crown Equipment Corporation, and many others. The market for forklifts witnessed various growth strategies, such as acquisitions, mergers, and collaborations, which market players adopted over the past few years. The market players are focusing on expanding their product portfolio to augment their revenue share. For instance,

• In October 2022, Electrovaya's first U.S. facility will add to its existing two Canadian facilities. It will produce its proprietary high-performance lithium-ion cells and batteries for applications in e-trucks, e-robots, e-buses, e-forklifts, and more. It is expected to open in phases starting in late 2023.
• In September 2022, Toyota Industries Corporation introduced an autonomous lift truck that features the world-first AI-based technology. It automatically recognizes the location and position of trucks and loads and generates automated travel routes to perform loading operations.

Hence, the developments above are expected to drive the forklift truck market.

Forklift Trucks Market Leaders

1. Jungheinrich AG

2. Toyota Industries Corporation

3. Mitsubishi Heavy Industries Group

4. KION Group AG

5. Crown Equipment Corporation

*Disclaimer: Major Players sorted in no particular order