September 20, 2022 10:30 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
Wilmington, Delaware, United States, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - In 2021, the global forklift trucks market registered value of US$ 6.2 Bn. The global market is projected to rise at a CAGR of 2.66% during the forecast period, from 2022 to 2031. The global forklift trucks market is anticipated to attain value of US$ 8.1 Bn by 2031. This study by TMR helps in understanding different forklift types and their applications. The e-commerce industry is expanding quickly, which is likely to fuel demand for forklift trucks worldwide. The COVID-19 pandemic has raised the demand for online sales of various items. This has increased the need for forklift trucks by causing a global increase in the number of warehouses and logistical hubs. The global market is anticipated to be driven by rising expenditures in infrastructural development and rising usage of electric forklift trucks during the forecast timeline.
Automated forklift trucks are becoming more and more popular amongst businesses as a way to improve warehouse management. However, it is projected that the industry would be hampered by the growth in safety concerns around forklift trucks as well as the exorbitant cost of their upkeep. Forklift trucks fueled by hydrogen fuel cells are being developed by forklift truck manufacturers & suppliers to boost their revenue. Such innovations are expected to benefit multi direction forklift truck manufacturer as well.
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Key Findings of Market Report
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Global Forklift Market: Growth Drivers
Global Forklift Market: Key Players
Some of the key market players are
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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.
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