Latin America Forklift Market Size & Outlook, 2024-2030
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Latin America forklift market highlights
- The Latin America forklift market generated a revenue of USD 1,980.0 million in 2024.
- The market is expected to grow at a CAGR of 10.1% from 2025 to 2030.
- In terms of segment, electric was the largest revenue generating power source in 2024.
- Electric is the most lucrative power source segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2025 to 2030.
Latin America data book summary
| Market revenue in 2024 | USD 1,980.0 million |
| Market revenue in 2030 | USD 3,519.8 million |
| Growth rate | 10.1% (CAGR from 2024 to 2030) |
| Largest segment | Electric |
| Fastest growing segment | Electric |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Internal Combustion, Electric |
| Key market players worldwide | Doosan Heavy Industries & Construction, Crown Holdings Inc, Hyster-Yale Materials Handling Inc Class A, Jungheinrich AG Vorz-Inhaber-Akt stimmrechtslos, KION GROUP AG, Komatsu Ltd, Mitsubishi Corp, Toyota Motor Corp, Anhui Heli, Hangcha Forklift America |
Other key industry trends
- In terms of revenue, Latin America region accounted for 2.7% of the global forklift market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 79,178.2 million by 2030.
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Forklift Market Scope
Forklift Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Hangcha Forklift America | View profile | 11-50 | Charlotte, North Carolina, United States, North America | http://www.hcforkliftamerica.com |
| Anhui Heli | View profile | 5001-10000 | Hefei, Anhui, China, Asia | http://www.helichina.com |
| Doosan Heavy Industries & Construction | View profile | 5001-10000 | Changwon, Kyongsang-namdo, South Korea, Asia | http://www.doosanheavy.com/ |
| Hyster-Yale Materials Handling Inc Class A | View profile | 8600 | 5875 Landerbrook Drive, Suite 300, Cleveland, OH, United States, 44124-4069 | https://www.hyster-yale.com |
| Crown Holdings Inc | View profile | 25000 | 14025 Riveredge Drive, Suite 300, Tampa, FL, United States, 33637-2015 | https://www.crowncork.com |
| Jungheinrich AG Vorz-Inhaber-Akt stimmrechtslos | View profile | 48492 | Friedrich-Ebert-Damm 129, Hamburg, Germany, 22047 | https://www.jungheinrich.com |
| KION GROUP AG | View profile | 42325 | Thea-Rasche-Strasse 8, Frankfurt am Main, HE, Germany, 60549 | https://www.kiongroup.com |
| Toyota Motor Corp | View profile | 380793 | 1 Toyota-cho, Aichi Prefecture, Toyota, Japan, 471-8571 | https://www.global.toyota |
| Mitsubishi Corp | View profile | 105267 | Mitsubishi Shoji Building 3-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8086 | https://www.mitsubishicorp.com |
| Komatsu Ltd | View profile | 70608 | 3-6 Akasaka 2-chome, Minato-ku, Tokyo, Japan, 107-8414 | https://www.komatsu.jp |
Latin America forklift market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to forklift market will help companies and investors design strategic landscapes.
Electric was the largest segment with a revenue share of 74.03% in 2024. Horizon Databook has segmented the Latin America forklift market based on internal combustion, electric covering the revenue growth of each sub-segment from 2018 to 2030.
The expansion of the agriculture, industrial, mining, and e-commerce industries are expected to boost demand for forklifts in the Latin American market.
The growing trend of electrification in construction equipment and material handling equipment for reducing carbon emission levels is also driving the regional market growth.
The growth of the manufacturing industry in countries such as Brazil and Mexico has prompted forklift manufacturers to enter these potential markets in Latin America.
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Target buyers of Latin America forklift market databook
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Our clientele includes a mix of forklift market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America forklift market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America forklift market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America forklift market size, by country, 2018-2030 (US$M)
Latin America Forklift Market Outlook Share, 2024 & 2030 (US$M)
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