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The forklift trucks market size is forecast to increase by USD 23.26 billion at a CAGR of 7.2% between 2023 and 2028. The market is witnessing significant growth due to the expansion of industrial activities, particularly in the construction sector. The increasing demand for efficient warehouse space management, warehouse management systems, and inventory optimization is driving the market's growth. Technological advancements, such as the adoption of electric motors and IC engines with improved emission standards, are transforming the market landscape. Warehouse technologies, including automation and robotics, are gaining popularity to enhance productivity and reduce operational costs.
The market is also witnessing substantial investments from both the public and private sectors, including governmental initiatives and private enterprises, to modernize their industrial facilities. However, challenges such as the shortage of skilled operators and environmental concerns related to IC engine emissions continue to pose challenges to forklift trucks market growth. Multi-shift operations and distribution techniques are also evolving to cater to the increasing demand for round-the-clock warehouse operations. Overall, the market is poised for growth, driven by technological advancements, industrial expansion, and investments in warehouse technologies.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Class Type
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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