Forklift Market Size in India | Trends & Growth Forecast 2025

Q: What is the current size of the forklift market in USD?

The global forklift market size is estimated to be around USD 55 billion as of 2024.

Q: What is the expected CAGR of the forklift industry from 2024 to 2031?

The forklift industry is projected to grow at a CAGR of 5.8% during this period.

Q: Which factors are driving the forklift market growth globally?

Key factors include automation in warehouses, e-commerce expansion, and demand for electric forklifts.

Q: What are some leading companies in the forklift market?

Companies like Toyota Industries, KION Group, and Jungheinrich are major players in the global forklift industry.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA4538

Publication Date: Jun 2025

What is the India Forklift market size and growth rate?

According to 6Wresearch internal database and industry insights, the India Forklift market is expected to register a CAGR of 5.8% during the forecast period.

The forklift market is witnessing steady growth driven by increased industrialization, expansion of warehousing and logistics sectors, and the adoption of automation across industries. Demand is particularly high in manufacturing and construction, where forklifts are vital for material handling and operational efficiency.

Growth Factors of the India Forklift Market

Rising demand for warehouse automation
Growth of e-commerce and logistics sector
Infrastructure and construction industry expansion
Increased demand in manufacturing hubs
Integration of electric and hybrid forklifts
Government incentives for industrial automation
Rapid industrialization in emerging economies

India Forklift Market Trends

The forklift industry is witnessing a transition toward the investments in smart forklifts are supported by IoT-equipped forklifts, telematics systems, and safety features. Sustainability goals are pushing the evolution of equipment toward low-emission and energy-efficient solutions, especially in the developed markets.

Emerging Developments in India Forklift Market

The forklift market is seeing advancements such as autonomous forklifts, lithium-ion battery adoption, and AI-based fleet management systems. Additionally, manufacturers are forming strategic partnerships for R&D in driverless and smart handling equipment, addressing both operational efficiency and safety concerns.