© 2016 Global Market Insights, Inc. USA. All Rights Reserved Fuel Cell Market size worth $25.5bn by 2024 Forklift Market Share, Growth, Analysis, Statistics, Trends, Forecast Report, 2024: Global Market Insights Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Europe forklift market share accounted for around 30% and is anticipated to witness significant growth opportunities over the forecast timeframe. Increased in demand for battery operated trucks and growth in warehouse segment are major contributors for market growth. Europe held the largest forklift market share in wholesale & retail distribution segment owing to highest utilization of electric vehicles in the segment.  North America is expected to witness stagnant growth over the coming few years owing to its steady economic recovery after recession. Lack of abundant workforce, emphasis on emission reduction are expected to present potential growth opportunities over the forecast timeframe. Regional Analysis of Forklift Market :

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Application Analysis of Forklift Market :  Inadequacy of critical component suppliers and lack of skilled operators pose considerable threat to forklift market growth. OEMs are highly dependent on suppliers for critical components such as cockpit controls, tilt cylinders, overhead guards and load backrest used in these utilities. Owing to the regulatory compliances in imports, and difficulty in procuring of these components, cost of critical components is expected to increase in upcoming years.  Moreover, lack of skilled workforce for efficient functioning have led to increased reports of workplace fatalities. According to national safety council in US, forklifts accidents find second position in private sector workforce fatalities and accounted for more than 30,000 injuries in Thus, lack of skilled workforce and increasing incidences endangering human lives are expected to hamper the overall forklift market growth.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Some forklift market players include KION Group AG, Toyota Industries Corporation, Jungheinrich group, Hyster-Yale Material handling Inc and Mitsubishi Nichiyu Forklift Corporation. Major forklift market manufactures are focusing on extending product portfolios, acquisitions, and collaborations to capitalize on the growing opportunities across multiple end user verticals. For instance, KION acquired handling automation division of Egemin Group.  This division will help the company to offer enhanced services for automatic guided vehicles, automated warehouse systems and in-floor chain conveyors. Hyster- Yale acquired installation and distribution business of Speedshield Tech. Pvt Ltd in the U.S. This acquisition was to extend the company’s business activities outside Australia. Competitive Market Share of Forklift Market :

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