Mexico - Latin America Forklift Market Size & Outlook
Global Market
Related Markets
Mexico forklift market highlights
- The Mexico forklift market generated a revenue of USD 459.3 million in 2025 and is expected to reach USD 944.7 million by 2033.
- The Mexico market is expected to grow at a CAGR of 9.4% from 2026 to 2033.
- In terms of segment, electric was the largest revenue generating power source in 2025.
- Electric is the most lucrative power source segment registering the fastest growth during the forecast period.
Forklift market data book summary
| Market revenue in 2025 | USD 459.3 million |
| Market revenue in 2033 | USD 944.7 million |
| Growth rate | 9.4% (CAGR from 2026 to 2033) |
| Largest segment | Electric |
| Fastest growing segment | Electric |
| Historical data | 2021 - 2024 |
| Base year | 2025 |
| Forecast period | 2026 - 2033 |
| 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, Mexico accounted for 0.6% of the global forklift market in 2025.
- Country-wise, China is expected to lead the global market in terms of revenue in 2033.
- In Latin America, Brazil forklift market is projected to lead the regional market in terms of revenue in 2033.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 2,441.1 million by 2033.
Mexico forklift market growth of the forklift market in the country can be attributed to factors such as the growth of the automobile manufacturing industry, supportive government policies for the manufacturing industry, and growth opportunities in aerospace, medical drive manufacturing, and consumer product manufacturing.
The growing traction of electrification in material handling equipment and the adoption of sustainable industrial practices to reduce carbon emissions are augmenting the adoption of electric forklifts in the Mexican automotive manufacturing industry.
The position of Mexico as a hub for parts manufacturing by tier 1, 2, and 3 suppliers in the civil and commercial aviation industry presents growth opportunities for forklift dealers in the country.
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Publish Date: Dec 09, 2025
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Forklift Market Scope
Forklift Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Komatsu Ltd | View profile | 70,608 | 3-6 Akasaka 2-chome, Minato-ku, Tokyo, Japan, 107-8414 | www.komatsu.jp |
| Mitsubishi Corp | View profile | 105,267 | Mitsubishi Shoji Building 3-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8086 | www.mitsubishicorp.com |
| Toyota Motor Corp | View profile | 380,793 | 1 Toyota-cho, Aichi Prefecture, Toyota, Japan, 471-8571 | www.global.toyota |
| KION GROUP AG | View profile | 42,325 | Thea-Rasche-Strasse 8, Frankfurt am Main, HE, Germany, 60549 | www.kiongroup.com |
| Jungheinrich AG Vorz-Inhaber-Akt stimmrechtslos | View profile | 48,492 | Friedrich-Ebert-Damm 129, Hamburg, Germany, 22047 | www.jungheinrich.com |
| Crown Holdings Inc | View profile | 25,000 | 14025 Riveredge Drive, Suite 300, Tampa, FL, United States, 33637-2015 | www.crowncork.com |
| Hyster-Yale Materials Handling Inc Class A | View profile | 8,600 | 5875 Landerbrook Drive, Suite 300, Cleveland, OH, United States, 44124-4069 | www.hyster-yale.com |
| Doosan Heavy Industries & Construction | View profile | 5001-10000 | Changwon, Kyongsang-namdo, South Korea, Asia | www.doosanheavy.com/ |
| Anhui Heli | View profile | 5001-10000 | Hefei, Anhui, China, Asia | www.helichina.com |
| Hangcha Forklift America | View profile | 11-50 | Charlotte, North Carolina, United States, North America | www.hcforkliftamerica.com |
Mexico - 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 Outlook will help companies and investors design strategic landscapes.
Electric was the largest segment with a revenue share of 86.17% in 2025.
Horizon Databook has segmented the Mexico - Latin America forklift market based on internal combustion, electric covering the revenue growth of each sub-segment from 2021 to 2033.
Mexico forklift market growth of the forklift market in the country can be attributed to factors such as the growth of the automobile manufacturing industry, supportive government policies for the manufacturing industry, and growth opportunities in aerospace, medical drive manufacturing, and consumer product manufacturing.
The growing traction of electrification in material handling equipment and the adoption of sustainable industrial practices to reduce carbon emissions are augmenting the adoption of electric forklifts in the Mexican automotive manufacturing industry.
The position of Mexico as a hub for parts manufacturing by tier 1, 2, and 3 suppliers in the civil and commercial aviation industry presents growth opportunities for forklift dealers in the country.
- Mexico - Latin America Forklift Market Power Source Outlook (Revenue, USD Million , 2021-2033)
- Internal Combustion
- Electric
- Mexico - Latin America Forklift Market Class Outlook (Revenue, USD Million , 2021-2033)
- Class 1
- Class 2
- Class 3
- Class 4/5
- Mexico - Latin America Forklift Market Tons Outlook (Revenue, USD Million , 2021-2033)
- Below 5 Ton
- 5-15 Ton
- Above 16 Ton
- Mexico - Latin America Forklift Market End use Outlook (Revenue, USD Million , 2021-2033)
- Industrial
- Logistics
- Chemical
- Food & Beverage
- Retail & E-Commerce
- Others End Use
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico - Latin America Forklift Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Mexico - Latin America Forklift Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
Mexico - Latin America Forklift Market, 2021-2033 (US$M)
Mexico forklift market statistics, by power source, 2021-2033 (US$M)
