U.S. Forklift Market Size & Outlook, 2024-2030
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U.S. forklift market highlights
- The U.S. forklift market generated a revenue of USD 9,844.1 million in 2024 and is expected to reach USD 18,391.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 11% 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 9,844.1 million |
| Market revenue in 2030 | USD 18,391.6 million |
| Growth rate | 11% (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, U.S. accounted for 13.6% of the global forklift market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. forklift market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 2,280.3 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 |
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 will help companies and investors design strategic landscapes.
Electric was the largest segment with a revenue share of 73.54% in 2024. Horizon Databook has segmented the U.S. forklift market based on internal combustion, electric covering the revenue growth of each sub-segment from 2018 to 2030.
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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Target buyers of U.S. 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 country-level data and insights on the U.S. forklift market , including forecasts for subscribers. This country databook contains high-level insights into U.S. forklift market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. forklift market size, by class, 2018-2030 (US$M)
U.S. Forklift Market Outlook Share, 2024 & 2030 (US$M)
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