EUROPE FORKLIFT TRUCK MARKET FORECAST 2023-2032

The Europe forklift truck market growth assessment encompasses an in-depth analysis of the United Kingdom, Germany, France, Spain, Italy, Belgium, Poland, and Rest of Europe. The United Kingdom witnessed a significant increase in the number of warehouses and logistical facilities due to the surge in online shopping. Factors such as Brexit and the COVID-19 pandemic have further propelled shipping and storage activities in the country. Moreover, government data indicates a 21% rise in transport and storage-related business locations in 2021 compared to 2019 and an impressive 88% increase compared to 2011. This growth trend indicates a corresponding increase in the use of forklift trucks in the United Kingdom. In addition, the country’s construction market is significant, with the government expected to continue funding major infrastructure projects in order to stimulate economic recovery.

In Italy, investments in construction witnessed a notable 16.4% increase in 2021 compared to the previous year, according to estimates from the National Association of Building Contractors (ANCE). The post-pandemic focus on public works and government incentives to enhance sustainability and digitalization in buildings are driving the nation’s construction sector. Furthermore, the increased adoption of teleworking and virtual education during the pandemic has also generated significant demand for larger houses, which further boosts the construction industry. Additionally, the automotive manufacturing sector in Italy is also expanding. As both the construction and automotive sectors are poised for growth, the utilization and demand for forklift trucks, given their applicability in these industries, are expected to increase during the forecast period.

The Europe forklift truck market is segmented into engine type, end-user, and type. The end-user segment includes retail & e-commerce, construction, manufacturing, and other end-users. The retail & e-commerce sector encompasses a wide range of activities, including retail, logistics, e-commerce, and wholesale operations. Within this segment, forklift trucks play a vital role in lifting as well as transporting industrial goods efficiently. 

Retail and wholesale businesses benefit from the use of forklift trucks owing to their ability to swiftly transfer goods, enhance operational efficiency, ensure precise placement, and maintain a high level of safety. Forklift trucks of various sizes are utilized across different segments of the retail and wholesale industry in order to expedite the transfer of varying quantities of retail packages or items.

Key companies operating in the Europe forklift truck market include Jungheinrich AG, KION AG, etc.

Jungheinrich AG, headquartered in Germany, manufactures as well as supplies products across automated systems, material handling equipment, digital solutions, as well as related services. The company also provides fully automated intralogistics workflows, coupled with a comprehensive range of automated warehouse systems, software, and mobile robots. With a business presence in over 40 countries worldwide, the global network covers 41 service and sales companies and 11 production plants.