UAE Forklift Market Size & Outlook, 2024-2030
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UAE forklift market highlights
- The UAE forklift market generated a revenue of USD 869.5 million in 2024 and is expected to reach USD 1,809.3 million by 2030.
- The UAE market is expected to grow at a CAGR of 13% 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.
Forklift market data book summary
| Market revenue in 2024 | USD 869.5 million |
| Market revenue in 2030 | USD 1,809.3 million |
| Growth rate | 13% (CAGR from 2024 to 2030) |
| Largest segment | Electric |
| Fastest growing segment | Electric |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 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, UAE accounted for 1.2% of the global forklift market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, UAE forklift market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,809.3 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 |
UAE 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 69.86% in 2024. Horizon Databook has segmented the UAE forklift market based on internal combustion, electric covering the revenue growth of each sub-segment from 2018 to 2030.
The UAE forklift market growth can be attributed to the country's growing construction, retail, and manufacturing industries. The government in the UAE is actively advocating for sustainable development practices by investing significantly in sustainable construction technology, thus promoting the growth of forklifts in the construction industry.
The growth of e-commerce in the country owing to a shift toward a digital economy and high internet penetration is increasing the demand for e-commerce logistics business in the country.
Major logistics operators in the region are entering into long-term partnerships with electric forklift dealers to establish their fleet of forklifts. For instance, in April 2021, Al-Futtaim Toyota Material Handling, a distributor of Toyota Material Handling in the UAE, signed a contract to supply 32 Toyota electric forklifts to DHL.
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Target buyers of UAE 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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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the UAE forklift market , including forecasts for subscribers. This country databook contains high-level insights into UAE forklift market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UAE forklift market size, by class, 2018-2030 (US$M)
UAE Forklift Market Outlook Share, 2024 & 2030 (US$M)
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