July 05, 2017
Wellesley, Mass., Jul 05, 2017 – The high-efficiency, eco-friendly nature, and low operation cost of electric-powered forklift trucks are steering that market segment to a 6.5% CAGR through 2021, forecasts Global Markets for Forklift Trucks. The globalization of supply chains, rising demand for global trade, increasing demand for the container and shipping industry, and demand for automation in emerging economies will increase global demand, as well.
The new BCC Research report also notes the major applications of forklift trucks are distribution centers and warehouses, accounting for 27.5% and 25.2%, respectively, of the 2016 global market. In response to consumer desire for ever-shorter delivery times, e-commerce companies are seeking warehouse spaces near urban areas. As the demand for distribution centers increases, the demand for forklifts is expected to jump during the forecast period.
BCC Research projects that the global forklift truck market will grow from $41.9 billion in 2016 to $56.3 billion in 2021 at a 6.1% CAGR.
“Electric-powered forklift trucks are gaining traction due to the implementation of advanced technologies and their growing application across global industries. Their features include regenerative braking for sending power back to the batteries when the machine slows down, and they can also recapture energy while lowering loads,” says Kevin Fitzgerald, BCC Research editorial director. “Perfect for indoor uses, they can load and unload heavyweight goods from docks or ground level. And because they can be powered at charging stations, there’s no need to store fuel.”
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Global Markets for Forklift Trucks( MFG035A )
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