Product Code: ETC027284 | Publication Date: Aug 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
India Forklift Trucks Market registered a decline of -12.75% in value shipments in 2022 as compared to 2021 and an increase of 9.93% CAGR in 2022 over a period of 2017. In Forklift Trucks Market India is becoming less competitive as HHI index in 2022 was 4264 while in 2017 it was 3184. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Forklift Trucks Market.
India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Forklift Trucks Market in 2022 was 4.17 while in 2017 it was 4. China, Rep. of Korea, Italy, USA and Japan were among the top players of the market in 2022, where China acquired the largest market share of 62.75% with a shipment value of 8.36 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 54.17% with the shipment value of 4.68 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
The forklift trucks market in India is expected to witness a CAGR of XX% during the forecast period 2020-2026. The Indian Forklift Truck Market is mainly driven by the increase in industrialization, rise in demand for warehousing & logistics activities and technological advancements. Growing infrastructure development & urbanization are also some of the major factors driving growth of this market. Moreover, various government initiatives such as Make in India program and National Investment Infrastructure Fund (NIIF) have further helped boost investments into machinery related products such as forklift trucks which has proved beneficial for growth of this market.
1. Increase in Industrialization: Increasing investment from private players along with rising foreign direct investments (FDI) are helping contribute towards steady economic growth rate which has resulted in an increase in industrialization across various sectors including manufacturing, automotive industry etc., thereby creating a need for transportation and warehouse equipment’s such as forklifts truck making it one of the most important drivers propelling growth of India`s Forklift Trucks Market.
2. Rise In Demand For Warehousing & Logistics Activities: With rapid expansion of e-commerce sector, there has been an exponential surge seen recently when it comes to setting up warehouses/distribution centers all over India resulting into increased demand for material handling materials like forklifts truck thus supplementing further growth opportunities for Forklift Truck Manufacturers present within Indian marketscape.
3 .Technological Advancements : Technological advancements over past years have led to revolutionary changes made within Material Handling Equipment Domain with introduction more efficient machines powered by lithium ion batteries instead conventional fuel based ones providing operators with improved functionalities thereby leading to improved operational efficiency while reducing environmental impact simultaneously creating positive outlook on overall segmental performance moving forward through forecast timeframe.
1 .Growing Preference Towards Battery Operated Machines : Adoption rates towards battery operated equipment’s especially when it comes to electric powered pallet trucks or reach stackers are persistently increasing amongst end users due various advantages provided by these machines apart from being environment friendly that includes reduced charging time , lower running costs , superior power transmission capabilities among others paving way towards new avenues ahead leading towards their high consumption rates throughout duration till 2026.
2 .Increased Focus On After Sales Services And Solutions By OEM’S : Over past few years Original Equipment Manufacturer’s particularly those operating out China have been focusing heavily on.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Forklift Trucks Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Forklift Trucks Market Revenues & Volume, 2019 & 2026F |
3.3 India Forklift Trucks Market - Industry Life Cycle |
3.4 India Forklift Trucks Market - Porter's Five Forces |
3.5 India Forklift Trucks Market Revenues & Volume Share, By Power Source, 2019 & 2026F |
3.6 India Forklift Trucks Market Revenues & Volume Share, By Class, 2019 & 2026F |
3.7 India Forklift Trucks Market Revenues & Volume Share, By End Use, 2019 & 2026F |
4 India Forklift Trucks Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India Forklift Trucks Market Trends |
6 India Forklift Trucks Market, By Types |
6.1 India Forklift Trucks Market, By Power Source |
6.1.1 Overview and Analysis |
6.1.2 India Forklift Trucks Market Revenues & Volume, By Power Source, 2016 - 2026F |
6.1.3 India Forklift Trucks Market Revenues & Volume, By IC Engine Powered, 2016 - 2026F |
6.1.4 India Forklift Trucks Market Revenues & Volume, By Electric Powered, 2016 - 2026F |
6.2 India Forklift Trucks Market, By Class |
6.2.1 Overview and Analysis |
6.2.2 India Forklift Trucks Market Revenues & Volume, By Class 1, 2016 - 2026F |
6.2.3 India Forklift Trucks Market Revenues & Volume, By Class 2, 2016 - 2026F |
6.2.4 India Forklift Trucks Market Revenues & Volume, By Class 3, 2016 - 2026F |
6.2.5 India Forklift Trucks Market Revenues & Volume, By Class 4, 2016 - 2026F |
6.2.6 India Forklift Trucks Market Revenues & Volume, By Class 5, 2016 - 2026F |
6.2.7 India Forklift Trucks Market Revenues & Volume, By Others, 2016 - 2026F |
6.3 India Forklift Trucks Market, By End Use |
6.3.1 Overview and Analysis |
6.3.2 India Forklift Trucks Market Revenues & Volume, By Retail & Wholesale, 2016 - 2026F |
6.3.3 India Forklift Trucks Market Revenues & Volume, By Logistics, 2016 - 2026F |
6.3.4 India Forklift Trucks Market Revenues & Volume, By Automotive, 2016 - 2026F |
6.3.5 India Forklift Trucks Market Revenues & Volume, By Food Industry, 2016 - 2026F |
6.3.6 India Forklift Trucks Market Revenues & Volume, By Others, 2016 - 2026F |
7 India Forklift Trucks Market Import-Export Trade Statistics |
7.1 India Forklift Trucks Market Export to Major Countries |
7.2 India Forklift Trucks Market Imports from Major Countries |
8 India Forklift Trucks Market Key Performance Indicators |
9 India Forklift Trucks Market - Opportunity Assessment |
9.1 India Forklift Trucks Market Opportunity Assessment, By Power Source, 2019 & 2026F |
9.2 India Forklift Trucks Market Opportunity Assessment, By Class, 2019 & 2026F |
9.3 India Forklift Trucks Market Opportunity Assessment, By End Use, 2019 & 2026F |
10 India Forklift Trucks Market - Competitive Landscape |
10.1 India Forklift Trucks Market Revenue Share, By Companies, 2019 |
10.2 India Forklift Trucks Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |