Truck Mounted Forklift Market Size
| Study Period | 2020 - 2030 |
| Market Size (2025) | USD 552.56 Million |
| Market Size (2030) | USD 725.89 Million |
| CAGR (2025 - 2030) | 5.38% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Truck Mounted Forklift Market Analysis
The Truck Mounted Forklift Market size is estimated at USD 552.56 million in 2025, and is expected to reach USD 725.89 million by 2030, at a CAGR of 5.38% during the forecast period (2025-2030).
Truck-mounted forklifts play a pivotal role across various industrial applications. Essentially, these units combine a truck with an open payload-carrying bed and an attached forklift at the rear. To ensure stability during transit, the forklift is secured with hooks, chains, or latches. Once the vehicle reaches a job site or warehouse, the forklift can be independently detached and deployed, allowing for efficient loading, unloading, and material movement. In essence, this setup offers a seamless and economical solution for both transportation and material handling.
Urban areas are witnessing a surge in demand for manufacturing and construction material handling. This uptick, coupled with heightened infrastructure development activities and a push towards modernizing buildings for better energy efficiency, is fueling the growth of the truck-mounted forklift market. As cities expand, there's a robust demand for material handling equipment, especially with the rising construction of commercial infrastructures like roads, offices, schools, hotels, restaurants, and recreational facilities.
As e-commerce booms worldwide and consumers increasingly favor online shopping, warehouses and distribution centers are witnessing a heightened demand for truck-mounted forklifts. Additionally, a surge in construction activities is further propelling the need for these material-handling tools.
Moreover, In the coming years, many companies plan to adopt both organic and inorganic growth strategies. These include joint ventures, product launches, partnerships, and mergers and acquisitions. Such moves aim to broaden their customer base and bolster their market standing across various industries. For Instance,
- In 2023, at Promat in Chicago, Illinois, Manitou unveiled two new truck-mounted forklifts tailored for the North American market: the TMM 45 rear-wheel steer and the TMM 45-4W four-way steer models. These robust forklifts, boasting a rated load capacity of 4,500 pounds, are engineered for truck mounting. They come equipped with heavy-duty features, including specialized masts, chassis, and tires suited for rough terrains. With a ground clearance of 10 inches, these machines excel in off-road operations. Notably, the four-wheel steer model, TMM 45 4W, offers enhanced versatility for transporting longer loads.
As the demand for effective logistical solutions surges, truck-mounted forklifts are becoming increasingly indispensable. Technological advancements in forklift design and performance have significantly boosted their operational efficiency. In the realm of expanding infrastructure and construction projects, mobile lifting technologies adept at handling large on-site loads have become paramount. Collectively, these elements are propelling a vigorous growth in the truck-mounted forklift market.
Truck Mounted Forklift Market Trends
Expanding E-commerce and construction Sector to Fuel the Growth of the Market
As e-commerce platforms expand, the demand for material movement, transportation, and lifting applications increases, driving market growth. The widespread use of electric forklifts across different sectors is boosting market expansion. Additionally, product enhancements, such as the introduction of rapid battery charging systems to minimize downtime and extend the operational lifespan of forklifts, are also contributing to this growth.
As construction activity ramps up, demand for truck-mounted forklifts is poised to surge. Government initiatives, including stimulus packages and reduced housing costs, are motivating many to purchase new homes, further propelling market growth. For instance,
- In August 2023, Brazilian President Luiz Inácio Lula da Silva unveiled a USD 200 billion blueprint aimed at bolstering the country's infrastructure, energy, and transportation sectors over the coming four years. This ambitious endeavor is anticipated to invigorate Brazil's economic landscape and bolster employment rates. Such a sweeping initiative heralds vast prospects for the truck-mounted forklift industry.
- In financial year 2024, the construction rate of national highways in India reached 34 km per day, the second highest during the presented period. In 2015, the construction rate was 12.1 km per day, the number has tripled in 2021. The growth in construction rate was expected to continue with increasing governmental spending and better construction technologies.
As e-commerce surges, it reshapes business operations and disrupts traditional supply chains. Companies, swiftly pivoting to online shopping, face the urgent challenge of fulfilling orders promptly while addressing the escalating demand for quick and dependable deliveries. A major challenge in e-commerce logistics is the efficient management and transportation of large material volumes, be it on busy construction sites or in warehouse distribution centers.
As the internet and smartphones become ubiquitous, e-commerce is flourishing. Shoppers are gravitating towards online platforms, lured by convenience, extensive choices, and lenient return policies. Harnessing the power of the internet, retailers are expanding their product offerings and accelerating delivery times.
As more individuals and businesses establish their online presence, manufacturers and suppliers of truck-mounted forklifts are expanding their reach. This includes tapping into emerging markets witnessing significant infrastructure development. The surging demand for logistics equipment, coupled with the rising internet usage, is poised to propel the growth of the truck-mounted forklift market across various industries.
Asia-Pacific Region Will Drive The Market:
Rapid industrialization, swift urbanization, and a booming e-commerce sector are driving this surge. China's growing population, coupled with the government's significant investments in public infrastructure and residential construction, is creating vast opportunities for manufacturers, positioning the nation to seize the largest market share.
Urbanization is fueling the growth of warehouses and distribution centers in China. This expansion of logistics and warehousing facilities is essential to cater to the growing populations in both urban and rural locales. For instance,
- In 2023, the National Bureau of Statistics China highlighted that around 933 million individuals lived in urban settings, while 477 million resided in rural areas. As China's urban regions rapidly expand in terms of population, infrastructure, and economic activities, the demand for logistics and distribution services escalates. This heightened demand emphasizes the necessity for forklifts, enhancing the prospects of China's forklift industry.
Major companies in China, Japan, and other Asia-Pacific nations are heavily investing in sea and port transportation, driving a notable surge in sales across the region. Asia-Pacific, with its burgeoning economy and expanding sectors like construction, industrial, and maritime, has become a magnet for overseas investors. These investments signal a shift towards modern forklifts, moving away from traditional models. For instance:
- In May 2024, Tianjin inaugurated a new maritime route, establishing a crucial connection between China and South America's eastern coast. This move not only aims to amplify trade between China and its South American counterparts but also seeks to upgrade the transportation infrastructure. Spanning the vast Pacific Ocean, this newly charted route stands out as one of the longest maritime paths globally.
The Asia-Pacific region represents the largest market for truck-mounted forklifts due to its extensive and diverse market base, rapid industrialization, urbanization, and increasing demand for efficient logistics. The region's booming e-commerce sector continues to generate demand for truck-mounted forklifts in delivery and unloading operations. These factors drive the growth of the truck-mounted forklift market in the region.
Truck Mounted Forklift Industry Overview
The truck-mounted forklift market is fragmented, with multiple players ranging from large multinational manufacturers to small regional companies. These companies serve various industries by offering different types of truck-mounted forklifts through their products, innovations, and partnerships. For instance,
- In September 2023, Steyr Automotive began assembling PALFINGER truck-mounted forklifts exclusively for the North American market. North America represents PALFINGER's primary growth market, contributing 23 percent of the company's EUR 2.2 billion record revenue in 2022. This performance validates PALFINGER's strategic focus on the United States, Canada, and Mexico.
Truck Mounted Forklift Market Leaders
-
Palfinger
-
LoadMac
-
Falcon Equipment
-
HIAB
-
Manitou
- *Disclaimer: Major Players sorted in no particular order
Truck Mounted Forklift Market News
- September 2024: In September 2024, At IAA Transportation 2024, PALFINGER presented innovative solutions under the motto "Go for Solution P." The company introduced several new products, with the highlight being the launch of the PALFINGER FLS series. These truck-mounted forklifts, featuring a patented swivel seat, made their debut at the Hanover exhibition.
- July 2023: In July 2023, Reining implemented a new truck-mounted forklift with a low mast. Terberg developed this vehicle specifically for transporting goods from trucks to locations with limited clearance height, including parking garages, renovation sites, and event venues.
Truck Mounted Forklift Industry Segmentation
The Truck-Mounted Forklift Market Report is Segmented by Application type (Logistics, Construction, Agriculture, Food and Beverages) and by Product type (Diesel, Electric, Petrol) and Geography (North America, Europe, Asia-Pacific, and Rest of the World)
The report offers market size and forecast for the forklift rental market in value (USD) for all the above segments.
| By Application Type | Logistics | ||
| Construction | |||
| Agriculture | |||
| Food and Beverages | |||
| Others | |||
| By Product Type | Disel | ||
| Petrol | |||
| Electric | |||
| By Geography | North America | United States | |
| Canada | |||
| Rest of North America | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Italy | |||
| Spain | |||
| Rest of Europe | |||
| Asia-Pacific | China | ||
| India | |||
| Japan | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| Rest of World | Saudi Arabia | ||
| South Africa | |||
| United Arab Emirates | |||
| Rest of World | |||
| Logistics |
| Construction |
| Agriculture |
| Food and Beverages |
| Others |
| Disel |
| Petrol |
| Electric |
| North America | United States |
| Canada | |
| Rest of North America | |
| Europe | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Rest of Europe | |
| Asia-Pacific | China |
| India | |
| Japan | |
| South Korea | |
| Rest of Asia-Pacific | |
| Rest of World | Saudi Arabia |
| South Africa | |
| United Arab Emirates | |
| Rest of World |
Truck Mounted Forklift Market Research FAQs
How big is the Truck Mounted Forklift Market?
The Truck Mounted Forklift Market size is expected to reach USD 552.56 million in 2025 and grow at a CAGR of 5.38% to reach USD 725.89 million by 2030.
What is the current Truck Mounted Forklift Market size?
In 2025, the Truck Mounted Forklift Market size is expected to reach USD 552.56 million.
Who are the key players in Truck Mounted Forklift Market?
Palfinger, LoadMac, Falcon Equipment, HIAB and Manitou are the major companies operating in the Truck Mounted Forklift Market.
Which is the fastest growing region in Truck Mounted Forklift Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Truck Mounted Forklift Market?
In 2025, the Europe accounts for the largest market share in Truck Mounted Forklift Market.
What years does this Truck Mounted Forklift Market cover, and what was the market size in 2024?
In 2024, the Truck Mounted Forklift Market size was estimated at USD 522.83 million. The report covers the Truck Mounted Forklift Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Truck Mounted Forklift Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Truck Mounted Forklift Industry Report
Statistics for the 2025 Truck Mounted Forklift market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Truck Mounted Forklift analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
