Market Forecast By Fuel Type (Diesel, Battery- Electric, Gasoline & LPG/CNG), By Class Type (Class 1, Class 2, Class 3, Class 4&5), By Applications (Freight & Logistics, Manufacturing, Warehousing & Others), By Key Countries (Kenya, Nigeria, South Africa & Rest of Africa) and competitive landscape
|Product Code: ETC002552||Publication Date: Mar 2023||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 200||No. of Figures: 90||No. of Tables: 30|
Africa Forklifts Market is forecast to grow in the coming years and it is primarily driven by the growing demand for forklifts in the logistics, construction, and manufacturing industries. Additionally, the growth is attributed to factors such as the expansion of the e-commerce industry, increasing investments in infrastructure development projects, and the rising demand for automated material handling equipment. Also, the increasing focus on reducing carbon emissions and the need for sustainable material handling solutions are contributing to the overall growth of the Africa Forklifts Market. The governments are also providing incentives to local companies to invest in material-handling equipment such as forklifts. For instance, tax breaks and subsidies, are helping to boost the growth of the forklift market in Africa.
Typically, African countries heavily invest in infrastructure development due to which the demand for forklifts is gradually increasing. Construction of new roads, seaports, and other infrastructure projects require materials handling equipment such as forklifts to move goods. The expansion of trade and commerce across Africa is also fuelling the demand for forklifts. The modernization of supply chains leads to the increasing demand for forklifts. With the growth of e-commerce and online shopping, the need for larger warehouses and distribution centres is also increasing, which in turn drives demand for forklifts in Africa.
Africa Forklift Market is expected to register rapid growth over the coming year. The Africa forklift truck market is mainly driven by increasing e-commerce business, warehouse space, and technological advancements. The growing e-commerce sales lead to the increasing adoption of forklift trucks to effectively handle the material. The e-commerce organizations in the country encompass a diverse range of warehouses for storage & logistics, for which forklift trucks are utilized due to their operational benefits. In countries like South Africa, the forklift truck market is witnessing growth due to the surging automotive sector that includes both, passenger and commercial vehicles.
According to 6Wresearch, Africa Forklifts Market size is anticipated to register growth during 2020-2026F. Forklift trucks play a vital role in ensuring smooth and effective logistics infrastructure and thus have witnessed an increase in demand. The growth of the logistics industry is thereby expected to positively affect the forklift truck market in Africa. However, due to the outbreak of the pandemic coronavirus, the government of many countries imposed nationwide lockdowns to stop the spread of the virus resulting in the shutdown of operations in several sectors. This would restrain the forklift market growth and would severely impact the economic growth of the countries across the Africa region for the year 2020.
By Fuel Type, the battery-electric segment is estimated to be the fastest-growing during the forecast period. With the increased focus on fuel efficiency and emission norms, a majority of manufacturers are focusing on battery-operated and fuel cell-powered forklifts in order to provide better efficiency. However, the warehouse segment is expected to lead the market by 2021 majorly due to the increasing number of warehouses being set up across the regions, reducing trade barriers between various regions, and preference towards low-cost alternatives.
The Africa Forklifts market report thoroughly covers the market by fuel type, applications, class type, and regions. The Africa Forklifts market outlook report provides an unbiased and detailed analysis of the ongoing Africa Forklifts market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Africa forklift market is anticipated to register sound revenues in the upcoming six years backed by the evolving scope of e-commerce platforms. The rise in the trend of online shopping especially in Kenya, Nigeria, and South Africa as with the increase in the growth of the young population pulled with increasing disposable income tends to spend high on online shopping and is leading to extend the growth of the retail sector and simultaneously augment the demand forklifts to manage inventory stick and is expected to contribute the growth of the Africa forklifts market in the upcoming six years.
The Africa Forklifts Market report provides a detailed analysis of the following market segments:
|1. Executive Summary|
|2.1. Report Description|
|2.2. Key Highlights of The Report|
|2.3. Market Scope & Segmentation|
|2.4. Research Methodology|
|3. Africa Forklift Market Overview|
|3.1. Africa Forklift Market Revenues, 2016-2026F|
|3.2. Africa Forklift Market Revenue Share, By Product Types, 2019 & 2026F|
|3.3. Africa Forklift Market Revenue Share, By Applications, 2019 & 2026F|
|3.4. Africa Forklift Market Revenue Share, By Distribution Channel, 2019 & 2026F|
|3.5. Africa Forklift Market Revenue Share, By Regions, 2019 & 2026F|
|3.6. Africa Forklift Market - Industrial Life Cycle, 2019|
|3.7. Africa Forklift Market - Porter’s Five Forces, 2019|
|4. Africa Forklift Market Dynamics|
|4.1. Impact Analysis|
|4.2. Market Drivers|
|4.3. Market Restraints|
|5. Africa Forklift Market Trends|
|6. South Africa Forklift Market Overview|
|6.1 South Africa Forklift Market Revenues and Volume, 2016-2026F|
|6.2 South Africa Forklift Market Revenues and Volume, By Types 2016-2026F|
|6.3 South Africa Forklift Market Revenues and Volume, By Applications 2016-2026F|
|6.4 South Africa Forklift Market Revenues and Volume, By Class Types 2016-2026F|
|7. Kenya Forklift Market Overview|
|7.1 Kenya Forklift Market Revenues and Volume, 2016-2026F|
|7.2 Kenya Forklift Market Revenues and Volume, By Types 2016-2026F|
|7.3 Kenya Forklift Market Revenues and Volume, By Applications 2016-2026F|
|7.4 Kenya Forklift Market Revenues and Volume, By Class Types 2016-2026F|
|8. Nigeria Forklift Market Overview|
|8.1 Nigeria Forklift Market Revenues and Volume, 2016-2026F|
|8.2 Nigeria Forklift Market Revenues and Volume, By Types 2016-2026F|
|8.3 Nigeria Forklift Market Revenues and Volume, By Applications 2016-2026F|
|8.4 Nigeria Forklift Market Revenues and Volume, By Class Types 2016-2026F|
|9. Rest of Africa Forklift Market Overview|
|9.1 Rest of Africa Forklift Market Revenues and Volume, 2016-2026F|
|10. Africa Forklift Market Competitive Landscape|
|10.1 Africa Forklift Market Revenue Share, By Companies, 2019|
|10.1.1 South Africa Forklift Market Revenue Share, By Companies, 2019|
|10.1.2 Kenya Forklift Market Revenue Share, By Companies, 2019|
|10.1.3 Nigeria Forklift Market Revenue Share, By Companies, 2019|
|10.2 Africa Forklift Market Competitive Benchmarking, By Operating Parameters|
|11. Company Profiles|
|12. Key Strategic Recommendations|