U.S. Forklift Market Size & Outlook, 2026-2033
Global Market
Related Markets
U.S. forklift market highlights
- The U.S. forklift market generated a revenue of USD 10,732.6 million in 2025 and is expected to reach USD 27,070.1 million by 2033.
- The U.S. market is expected to grow at a CAGR of 12.6% 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 10,732.6 million |
| Market revenue in 2033 | USD 27,070.1 million |
| Growth rate | 12.6% (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, U.S. accounted for 13.2% of the global forklift market in 2025.
- Country-wise, China is expected to lead the global market in terms of revenue in 2033.
- In North America, U.S. forklift market is projected to lead the regional market in terms of revenue in 2033.
- Canada is the fastest growing regional market in North America and is projected to reach USD 3,431.9 million by 2033.
The U.S. forklift market rapid advancements in battery technology are revolutionizing the forklift market in the U.S.
Lithium-ion batteries, which are known for their high energy density and extended lifespan, are becoming increasingly prevalent, providing superior performance and energy efficiency compared to traditional lead-acid batteries.
These modern batteries offer longer runtimes and faster charging, reducing downtime and boosting overall productivity. With these advancements in battery technology, electric forklifts are gaining popularity, encouraging more businesses to make the transition.
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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 |
U.S. 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 81.99% in 2025.
Horizon Databook has segmented the U.S. forklift market based on internal combustion, electric covering the revenue growth of each sub-segment from 2021 to 2033.
The U.S. forklift market rapid advancements in battery technology are revolutionizing the forklift market in the U.S.
Lithium-ion batteries, which are known for their high energy density and extended lifespan, are becoming increasingly prevalent, providing superior performance and energy efficiency compared to traditional lead-acid batteries.
These modern batteries offer longer runtimes and faster charging, reducing downtime and boosting overall productivity. With these advancements in battery technology, electric forklifts are gaining popularity, encouraging more businesses to make the transition.
- U.S. Forklift Market Power Source Outlook (Revenue, USD Million , 2021-2033)
- Internal Combustion
- Electric
- U.S. Forklift Market Class Outlook (Revenue, USD Million , 2021-2033)
- Class 1
- Class 2
- Class 3
- Class 4/5
- U.S. Forklift Market Tons Outlook (Revenue, USD Million , 2021-2033)
- Below 5 Ton
- 5-15 Ton
- Above 16 Ton
- U.S. 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 U.S. Forklift Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into U.S. Forklift Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
U.S. Forklift Market, 2021-2033 (US$M)
U.S. forklift market statistics, by power source, 2021-2033 (US$M)
