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Electric Lift Trucks Market by Product Type (Electric Counterbalance Forklift Trucks, Electric Pallet Trucks, Electric Reach Trucks, Electric Stackers) by Application (Wholesale & Retail Distribution, Manufacturing, Freight & Logistics) by Industry Analysis, Volume, Share, Growth, Challenges, Trends and Forecast 2019-2027

Number of pages: 119 | Report Code: PSMR- PSMR-007073 | Report Format : PDF

Report Coverage

Parameters Details

Base Year


Historical Data


Forecast Data


Base Year Value (2021)

USD 44033.37 million

Forecast Value (2028)

USD 66209.90754 million

CAGR (2022 to 2028)

6 %

Regional Scope

North America, Europe, Asian Pacific, Latin America, Middle East and Africa, and ROW

Global Electric Lift Trucks Market is estimated to reach USD 62462.18 million by 2027, growing at a CAGR of 6 % between 2019 and 2027  

Electric Forklift refers to a power-driven industrial truck used to lift and move materials short distances, which is powered by electricity. Bulk of electric forklifts are power-driven by batteries, which are used as source power to drive the motor driving motor and hydraulic systems to travel and load and unload tasks. Compared with internal combustion forklifts, electric forklifts have benefits such as less pollution, easier to operate and higher energy efficiency. Along with the development of economy and the development of environmental protection consciousness, the industry of electric forklift has experienced a rapid growth. The electric forklift market is growing significantly from decade owing to its applications in relevant industry, providing cost efficiency and improved productivity.  

The electric forklifts are actively adopted across the globe resulting in the quantitative increase in demand which in turn pushed the year-on-year revenue growth. Stringent emission norms for diesel vehicles across the globe in order to regulate the CO2 emission have led the manufacturers to offer more environment friendly forklift truck models. Moreover, manufacturers have adjusted the direction of their R&D activities, increasing the proportion of developers working on electric forklifts and warehouse forklifts, in order to expand the electric and warehouse product lines. High adoption of electric forklifts owing to its advantage over IC powered forklifts and continuous expenditure over advancement of battery technology is anticipated to accelerate the growth of electric forklifts in coming years.  

The study covers detail analysis, growth and forecast of the Electric Lift Trucks Market. The report includes market analysis on global and regional level. The study covers historical data analysis from 2014 to 2017 and market forecast for 2019 to 2027 based on revenue generated. The study includes market value in terms of revenue in billion USD for years 2014-27 and compound annual growth rate (CAGR) in % for from 2019-2027. The market is expected to show constant growth between 2019-2027.  

The report comprises value chain analysis for each of the product segments. Value chain analysis offers in depth information about value addition at each stage. The study includes drivers and restraints for Electric Lift Trucks Market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. Research report includes major player analysis with shares of each player inside market, growth rate and market attractiveness in different end users/regions. Our study Electric Lift Trucks Market helps user to make precise decision in order to expand their market presence and increase market share.  

The report provides Electric Lift Trucks Market Dynamics ,includes industry growth drivers, challenges, opportunities , risk, constraints as well as threats .Reports also includes Manufacturing Cost Analysis mainly included Raw Materials Analysis, Price Trend of product, Mergers & Acquisitions, Expansion, Key Suppliers of product, Concentration Rate of Electric Lift Trucks Market, Manufacturing Process Analysis. Research Report contains Market Effect Factors analysis mainly included Technology Progress, Consumer Needs Trend, External Environmental Change.  

The major countries of Latin America such as Brazil and Mexico showcase huge opportunity for electric forklift truck industry as these countries are showcasing positive growth in manufacturing and automotive industry growth. The use of electric powered forklift trucks is gaining huge ground in the developed regions of North America and Europe, which boast of an established e-commerce industry and the strict norms for emissions and concerns for sustainability. However, in the emerging economies, there is still preference for IC-engine forklift trucks. In addition, electric forklift trucks that are powered on alternative sources of energy such as hydrogen are also gaining traction in the global electric forklift truck market.  

 Global Electric Lift Trucks Market

Global Electric Lift Trucks Market: Product Type

  • Electric Counterbalance Forklift Trucks
  • Electric Pallet Trucks
  • Electric Reach Trucks
  • Electric Stackers
  • Others

Global Electric Lift Trucks Market: Application

  • Wholesale & Retail Distribution
  • Manufacturing
  • Freight & Logistics
  • Others

Global Electric Lift Trucks Market: Competitive Analysis

Report includes accurate analysis of key players with Market Value, Company profile, SWOT analysis. The Study constitutes of following key players in Global Electric Lift Trucks Market:

  • Toyota
  • Kion
  • Jungheinrich
  • Hyster-Yale
  • Crown
  • Mitsubishi Nichiyu
  • UniCarriers
  • Anhui Heli
  • Hangcha
  • Komatsu
  • Clark
  • Doosan
  • Hyundai
  • EP
  • Lonking
  • Comblift
  • Tailift Group
  • Hubtex
  • Hytsu Group
  • Godrej & Boyce
  • Paletrans
  • Sroka Inc.
  • RICO
  • Raymond

Geographical analysis of Global Electric Lift Trucks Market:

  • North America
    • U.S.A.
    • Canada
  • Europe
    • France
    • Germany
    • Spain
    • UK
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South East Asia
  • Latin America
    • Brazil
  • Middle East and Africa

Global Electric Lift Trucks Market Report delivers comprehensive analysis of :

  • Market Forecast for 2019-27
  • Market growth drivers
  • Challenges and Opportunities
  • Emerging and Current market trends
  • Market player Capacity, Production, Revenue (Value)
  • Supply (Production), Consumption, Export, Import analysis
  • End user/application Analysis

Frequently Asked Questions (FAQ)

Electric Lift Trucks Market was valued at around USD 44033.37 million in 2021 & estimated to reach USD 66209.90754 by 2028.

Electric Lift Trucks Market is likely to grow at compounded annual growth rate (CAGR) of 6% between 2022 to 2028.

Yes, the report includes COVID 19 impact on the market.

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