According to the research report “Global Forklift Market Outlook, 2030” published by Bonafide Research, the global market is projected to reach market size of USD 127.47 Billion by 2030 increasing from USD 85.72 Billion in 2024, growing with 6.98% CAGR by 2025-30

Top Six Companies Global Forklift Market

Jungheinrich AG: Jungheinrich AG (Jungheinrich) is a globally leading provider in material handling solutions and warehousing technology. The company focuses on developing innovative and sustainable products and solutions for material flows. Its major offerings include material handling equipment, automation systems, and related services. It is known for its energy-efficient lithium-ion technology solutions and automated warehouse systems. Jungheinrich AG offers a comprehensive range of forklift trucks designed for warehouse operations, logistics, manufacturing, and industrial material handling. The company’s forklift portfolio includes electric counterbalance forklifts, diesel and LPG forklifts, reach trucks, pallet trucks, stackers, and automated warehouse vehicles built for both indoor and outdoor applications. Jungheinrich forklifts are widely recognized for their energy efficiency, compact maneuverability, ergonomic operator design, and advanced lithium-ion battery technology. Their electric forklift series, such as the EFG range, can lift loads up to 5 tons and reach lifting heights of up to 7.5 meters while consuming up to 20% less energy through the company’s PureEnergy drive system and regenerative braking technology.

• Established: 1953

• Headquarters: Hamburg, Germany

• Employees: 21,000

• Revenue: USD 6,449 Million

Mitsubishi Heavy Industries, Ltd: Mitsubishi Heavy Industries Ltd (MHI) manufactures a diverse range of heavy machinery. The company's main activities include the development of energy systems, infrastructure systems, logistics, thermal and drive systems, and products for the aircraft, defense, and space sectors. MHI offers a wide range of products and services, including gas and steam power systems, nuclear power systems, compressors, aero engines, marine machinery, commercial ships, environmental systems, metals machinery, and machinery systems. Mitsubishi Heavy Industries, Ltd manufactures a broad range of forklift trucks and material-handling equipment designed for industrial, warehousing, and logistics applications worldwide. The company’s forklift products, marketed through the Mitsubishi Forklift Trucks brand, include electric forklifts, diesel and LPG counterbalance forklifts, reach trucks, pallet trucks, order pickers, and warehouse handling equipment known for durability, efficiency, and advanced engineering. Mitsubishi forklifts are widely recognized for their powerful performance, ergonomic operator controls, fuel efficiency, and reliable operation in demanding environments such as factories, ports, distribution centers, and cold-storage facilities.

• Established: 1884

• Headquarters: Tokyo, Japan

• Employees: 78,861

• Revenue: USD 31,544 Million

Hyster-Yale Materials Handling, Inc: Hyster-Yale Materials Handling, Inc. is a leading global manufacturer of forklift trucks and warehouse handling equipment used across logistics, manufacturing, construction, retail, and port operations. The company designs and produces a wide range of products under the Hyster and Yale brands, including electric forklifts, internal combustion forklifts, reach trucks, pallet trucks, container handlers, tow tractors, and automated material-handling solutions. Hyster-Yale forklifts are known for their robust durability, high lifting performance, operator comfort, and advanced safety technologies, making them suitable for demanding industrial environments and heavy-duty applications. The company also emphasizes energy efficiency and sustainability by offering lithium-ion battery-powered forklifts, hydrogen fuel cell compatibility, and intelligent fleet-management systems that help businesses optimize warehouse productivity and reduce operating costs.

• Established: 1991

• Headquarters: Ohio, United States

• Employees: 5,000+

• Revenue: USD 3,769 Million

Komatsu Ltd: Komatsu Ltd (Komatsu) is an equipment manufacturer. It develops and sells construction, mining equipment, utilities, forest machines, and industrial machinery. Komatsu Ltd manufactures a comprehensive range of forklift trucks and material-handling equipment designed for warehousing, manufacturing, logistics, and heavy industrial operations. Komatsu forklifts include electric forklifts, diesel forklifts, LPG forklifts, reach trucks, pallet jacks, and heavy-duty warehouse vehicles engineered for durability, reliability, and operator comfort. The company emphasizes advanced engineering, fuel efficiency, ergonomic controls, and robust hydraulic systems to support demanding indoor and outdoor applications. Komatsu forklifts are widely used in industries such as construction materials, beverage distribution, paper warehousing, and manufacturing, where high lifting performance and operational efficiency are critical.

• Established: 1921

• Headquarters: Tokyo, Japan

• Employees: 66,697

• Revenue: USD 25,754 Million

Doosan Corporation: Doosan Corporation manufactures a wide range of forklift trucks and material-handling equipment designed for warehousing, logistics, manufacturing, and heavy industrial applications. The company’s forklift product portfolio includes electric forklifts, diesel forklifts, LPG forklifts, reach trucks, pallet trucks, and high-capacity material-handling vehicles known for their durability, fuel efficiency, and reliable performance. Doosan forklifts are recognized for their strong lifting capability, ergonomic operator design, smooth maneuverability, and advanced hydraulic systems that support demanding indoor and outdoor operations. Bobcat and Doosan forklifts are known for their robust lifting performance, ergonomic cabins, smooth hydraulic controls, and advanced safety technologies that support demanding indoor and outdoor operations. The company also emphasizes environmentally friendly solutions by integrating low-emission engines, electric drive systems, lithium-ion technology, and intelligent fleet-management features into its products.

• Established: 1896

• Headquarters: Seoul, South Korea

• Employees: 1,500+

• Revenue: USD 2,195 Million

Manitou Group: Manitou Group manufactures a comprehensive range of forklift trucks and material-handling equipment designed for construction, agriculture, warehousing, and industrial operations worldwide. The company is widely recognized as the inventor of the first all-terrain forklift truck and specializes in rough-terrain forklifts, electric forklifts, diesel and LPG industrial forklifts, semi-industrial forklifts, telehandlers, pallet trucks, and warehouse handling solutions. Manitou forklift products are known for their exceptional off-road capability, robust lifting performance, ergonomic operator cabins, and versatility in demanding environments such as construction sites, farms, ports, and logistics facilities. The company’s forklift ranges, including the MC, M, ME, MI, and MSI series, are engineered to provide high maneuverability, operator safety, energy efficiency, and compatibility with a wide range of attachments for different material-handling tasks.

• Established: 1957

• Headquarters: Ancenis, France

• Employees: 6,100

• Revenue: USD 3,005 Million