India Forklift Market Overview, 2022-28

India Forklift Market Size, Share, Trend & Market Analysis By Type, By Distribution Channel, By End User, Competition Forecast & Opportunities.

Featured Companies

  • 1. KION India Private Limited
  • 2. Godrej & Boyce Manufacturing Company Limited
  • 3. Josts Engineering Company Limited
  • 4. Nilkamal Limited
  • 5. Toyota Material Handling India Private limited
  • More...

India forklift market is showing optimistic growth from the last few years in terms of value as well as volume. Top international players have started setting their base in India and this is resulting into availability of new technologically advanced products and product designs. Forklifts are now designed to be more reliable, efficient and service friendly. In India, forklifts have found wide acceptance in industries, ports and warehousing sector. Infrastructure growth, Make in India campaign and GST implementation has pulled the demand in the industry. New emerging product types of battery operated electric forklifts are gaining momentum in the country. Electric forklifts are now available with many special attachments for specific applications with lower cost of ownership. Customers have started preferring electric forklifts over diesel variants. According to "India Forklift Market Overview, 2022-28", forklift market is anticipated to grow with more than 18% CAGR. In India, majority of forklifts are counterbalance and the rest are used as warehousing equipment forklifts. Major players operating in the industry are Godrej & Boyce, KION India (Voltas), Toyota Material Handling India, Nilkamal, Jost Engineering and Action Construction Equipment. In March 2016, Hyundai launched its forklift business in India with a complete range of forklifts and warehousing equipments. The entire range of forklift can be segregated into three categories according to their load capacity: Light duty (1 to 3 tonne), Medium duty (4 to 8 tonne), and heavy duty (10 tonne and above capacity). Light duty forklifts have been dominating in India; however a trend of medium duty forklifts will be seen in the coming few years. Demand for pollution free greener forklifts have also been increasing in the country with companies & industries becoming conscious about environmental impacts of diesel forklifts.

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Industries like automobile, logistics, chemicals, pharma etc are growing enormously in the Indian economy and thus they are contributing majorly to the demand of forklifts. The market will gradually move towards electric version and eventually the diesel forklifts will remain in the outdoor applications only. Light generation trucks are high safety products with higher reliability and greater fuel efficiency. In warehouse trucks, manual movement of material is now replaced by battery operated Pallet truck. The trend is moving from reach truck to VNA and ASRS which are semi-automatic and automatic systems respectively. E-commerce has been a big boom for forklift market in India as a lot of warehousing operations got a boost because of that. Many 3PL companies, which have entered India, are doing their job very efficiently. Demand for forklifts from rental market has also been seen growing and the growth has been more aggressive from the last few years. Rental segment is dominant by unorganised players, but now the scenario is changing due to OEM providing complete solutions to the industry including rental services. Key Product Types • Diesel Forklift • Electric/ Battery Operated Forklift • LPG Forklift “India Forklift Market Overview, 2022-28” discusses the following aspects of forklift in India: How it will help solving your strategic decision making process?? The report gives an in-depth understanding of forklift market in India: - India Material Handling Equipment Market Outlook - India Material Handling Equipment Market Size By Value & Forecast - India Forklift Market Outlook - India Forklift Market Size By Value & Forecast - India Forklift Market Size By Volume & Forecast - India Forklift Market Segmental Analysis: By Company, By Product Type, By End User, By Load Capacity - India Rental Forklift Market Overview - Product Price & Variant Analysis - The key vendors in this market space

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Arun Kalwani

Arun Kalwani

Research Analyst

This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Report Methodology The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of forklifts in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.

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Arun Kalwani

Companies Mentioned

  • KION India Private Limited
  • Godrej & Boyce Manufacturing Company Limited
  • Josts Engineering Company Limited
  • Nilkamal Limited
  • Toyota Material Handling India Private limited

Table of Contents

  • Table of Content
  • 1. Executive Summary
  • 2. Market Structure
  • 2.1. Market Considerate
  • 2.2. Assumptions
  • 2.3. Limitations
  • 2.4. Abbreviations
  • 2.5. Sources
  • 2.6. Definitions
  • 2.7. India Macro Economic Indicators
  • 2.8. Demographics Insight
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. India Material Handling Equipment Market Outlook
  • 5. India Forklift Market Outlook
  • 5.1. Market Size
  • 5.1.1. By Value
  • 5.1.2. By Volume
  • 5.1.3. By Average Selling Price
  • 5.2. Market Share
  • 5.2.1. By Value
  • By Company
  • By Product Type
  • 5.2.2. By Volume
  • By End User
  • By Product Type
  • By Load Capacity
  • 5.3. Rental Forklift Market Overview
  • 6. Company Profile
  • 6.1. Godrej & Boyce Manufacturing Company Limited
  • 6.1.1. Company Snapshot
  • 6.1.2. Company Overview
  • 6.1.3. Financial Highlights
  • 6.1.4. Geographic Insights
  • 6.1.5. Business Segment & Performance
  • 6.1.6. Product Portfolio
  • 6.1.7. Key Executives
  • 6.1.8. Strategic Moves & Developments
  • 6.2. Toyota Material Handling India Private limited
  • 6.3. Josts Engineering Company Limited
  • 6.4. KION India Private Limited (Voltas)
  • 6.5. Nilkamal Limited
  • 7. Disclaimer

List of Table

Table 1: India Tier-wise Classification Of Cities
Table 2: India Region-wise Classification Of Cities
Table 3: India Forklift Market Share By Company (2021)
Table 4: India Forklift Market Share By Value By Product Type (2016-17, 2021-22 & 2027-28F)
Table 5: India Forklift Market Share By Volume By End User (2016-17, 2021-22 & 2027-28F)
Table 6: India Forklift Market Share By Volume By Product Type (2016-17, 2021-22 & 2027-28F)

List of Figures

Figure 1: India Population 2017-2021( In Crore)
Figure 2: India Population Age Structure (EST. 2019)
Figure 3: India Urban VS Rural (Crore)
Figure 4: India Material Handling Equipment Market Size By Value 2016-17 to 2027-28F (in INR Crore)
Figure 5: India Forklift Market Size By Value 2016-17 to 2027-28F (in INR Crore)
Figure 6: India Forklift Market Size By Volume 2016-17 to 2027-28F (in Units)
Figure 7: India Forklift Market Size By Average Selling Price 2016-17 to 2027-28F (INR)
Figure 8: India Forklift Market Share By Volume By Load Capacity (2016-17, 2021-22 & 2027-28)

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India Forklift Market Overview, 2022-28

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