Get More Information on Forklift Truck Market - Request Sample Report
The Forklift Truck Market Size was valued at USD 58.86 Billion in 2023 and is now anticipated to grow to USD 99.63 Billion by 2031, displaying a compound annual growth rate (CAGR) of 6.8% during the forecast Period 2024-2031.
The forklift truck market is growing at a significant rate with a variety of factors that come into the play. The expansion of warehouses & logistics services is the key factor towards the market growth. The rising e-commerce and growing complexity of supply chains is complementing the warehouses with fast & efficient material handling thus helping in the market growth. Apart from logistics, material handling is used in various industries like manufacturing, food & beverage and construction for lifting & transporting heavy materials making it a priority in industries of all sizes. Also, the adoption of automation in forklifts is helping in the reduction of accidents and fatalities. According to Occupational Safety and Health Administration (OSHA), around 85 deaths and 34,900 serious injuries happened due to forklift accidents thereby needing integration of automation for improved safety of workers, increased efficiency, and better data-driven decision-making. Another factor for the growth is providing a wide range of applications along with industries is flexibility & cost-effectiveness. All these factors are helping towards the growth of the forklift truck market.
Drivers
The rise of e-commerce platforms & a number of warehouses across the globe is driving the growth of the market.
Growing demand for lean and automated warehouses in order to increase operational efficiency is driving market growth.
Lean warehouses reduce over consumption of resources without any change in productivity. The automated warehouse is run by automated forklifts that can pick & store materials automatically without any human intervention thereby removing human errors. The growth of smart warehouses is because of autonomous forklifts which has minimal infrastructure requirements and can improve the operational efficiency of warehouse up to 20%. The rising safety concern, cost effective material handling solution is driving towards the market growth.
Restraints
Safety issues related to forklift truck is limiting the growth of the market.
Rising demand of stacker crane can be a restraint in the growth of the market.
Stacker cranes has various advantages like movement in narrow aisles that cannot be done by a forklift to operate. Forklifts & stacker cranes are similar, but stacker cranes can store and retrieve goods at a higher vertical height. The warehouse rack supports stacker cranes without any additional structure requirements. Moreover, stacker cranes are inherently safer from forklift, so there are no cases of accidents. Also, the higher load capacity than forklift can hinder the growth of the forklift truck market.
Opportunities
Modular solutions to optimize customer productivity.
Increasing demand of battery-operated forklifts with low cost of operation & low maintenance requirements is creating growth opportunities.
Challenges
High cost of electric forklifts can be a challenge in adoption in the market.
Rise of third-party logistics services is a challenge in the growth of the market.
Impact of Russia-Ukraine War
The Russia-Ukraine war has a huge impact on the forklift truck market. The war has disrupted the global supply chain leading to shortage of raw material required for the manufacturing of forklifts. Russia being a key supplier of iron & steel is unable to export because of trade restrictions is causing price hikes. Further, government may shift their investments over war thereby holding off the forklift procurement on hold and causing a dip in the demand. But on the other side, governments may encourage towards local production of forklift components & final product and reducing reliance on global market. Moreover, sector such as logistics & warehouse may have an increase in the demand for forklifts and these companies might adjust their supplier network keeping in mind of the war & its impact. Stockpiling of essentials like food can create a temporary surge in the demand for forklifts in warehousing & storage.
Impact of Economic Slowdown
Economic slowdowns have a huge impact on the forklift truck market. The slowdown has led to decreased production & sales in industries like manufacturing which has caused a decrease in the demand for forklifts as they have less requirement for material handling equipment. Company faces financial burdens which could lead to delay in investing over new forklifts further causing a dip in the demand for forklifts. But on the other side, business could focus in optimizing costs & efficiency and forklifts are specialized in this by reducing labor cost by doing automated repetitive tasks & improving efficiency by proper material handling with fast turnaround times ultimately leading to cost savings. And the market for repairs & maintenance can grow by keeping existing forklifts at work and reducing the chances of breakdown thus saving costs.
By Product
Warehouse
Counterbalance
By Technology
Electric
The Electric forklift trucks are dominating the market with a share of around 67% of the total market. They are eco-friendly alternatives compared to ICE. Battery technology is evolving continuously with higher safety of lithium-ion batteries than lead-acid batteries are making Li-ion batteries popular in electric forklifts. Moreover, electric vehicles require lower maintenance than ICE. Countries around the world started to discontinue the sale of ICE forklifts seeking in mind over environmental sustainability.
Get Customized Report as per your Business Requirement - Request For Customized Report
By Application
Manufacturing
Logistic
Retail & Wholesale
Others
By Capacity
Below 5 tons
Above 5 tons
The above 5 tons capacity is dominating the market with a share of around 63% of the total market. The increasing demand for material handling & heavy lifting in industries like such as manufacturing, logistics & construction is the reason for the dominance. With the expansion of businesses & growing trade, the need for a heavy lifting forklift is a must. Moreover, increasing automation in warehouses is creating demand for high-capacity forklifts.
Regional Analysis
The Asia-Pacific region is dominating the market with a share of around 42.4% of the total market. The reason for dominance is rising factory & warehouse automation that optimizes supply chain process such as increasing operational efficiency, improving manufacturing process. Moreover, increasing population along with growth of e-commerce market is paving way for the growth of the forklift truck incorporating material handling efficiency. Also, growing number of establishments like automotive, metal & machinery is making the forklift market to grow.
North America is the fastest growing region next to Asia-Pacific because of growing supply chain network & e-commerce across the region.
Regional Outlook
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are Toyota Industries Corporation, Crown Equipment Corporation, Kion Group AG, Hyster-Yale Materials Handling Inc., Hyundai Heavy Industries, Mitsubishi Nichiyu Forklift Co., Ltd, Jungheinrich AG, Doosan Industrial Vehicle, Hangcha Group, Komatsu Ltd., Godrej & Boyce Manufacturing and others.
In May 2023, Toyota launched a new electric forklift designed for versatile outdoor use in diverse terrains. Ranging from 3,000 to 7,000 lb., these models prioritize safety with advanced stability systems, embodying Toyota's commitment to continuous improvement.
In February 2023, Doosan launched two new ranges of high-capacity electric counterbalance forklift trucks within the NXE Series, providing industrial users with a wide range including low-noise level, zero-emission, and environmentally friendly. The trucks are capable of tackling heavy-duty task.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 58.86 Billion |
| Market Size by 2031 | US$ 99.63 Billion |
| CAGR | CAGR of 6.8% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Technology (Electric, ICE) • By Capacity (Below 5 Tons, Above 5 Tons) • By Application (Manufacturing. Logistic, Retail & Wholesale, Others) • By Product (Warehouse, Counterbalance) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Toyota Industries Corporation, Crown Equipment Corporation, Kion Group AG, Hyster-Yale Materials Handling Inc., Hyundai Heavy Industries, Mitsubishi Nichiyu Forklift Co., Ltd, Jungheinrich AG, Doosan Industrial Vehicle, Hangcha Group, Komatsu Ltd., Godrej & Boyce Manufacturing |
| Key Drivers | • Rise of e-commerce platform & number of warehouses across the globe is driving the growth of the market. • Growing demand for lean and automated warehouse in order to increase operational efficiency is driving towards market growth. |
| Restraints | • Safety issues related to forklift truck is limiting the growth of the market. • Rising demand of stacker crane can be a restraint in the growth of the market. |
Ans: The Forklift Truck Market is expected to grow at a CAGR of 14.5%.
Ans: Forklift Truck Market size was USD 5.24 billion in 2023 and is expected to Reach USD 15.49 billion by 2031.
Ans: Rise of e-commerce platform & number of warehouses across the globe is driving the growth of the market.
Ans: Safety issues related to forklift truck is limiting the growth of the market.
Ans: Asia-Pacific is expected to hold the largest market share in the Off-highway vehicle market during the forecast period.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Forklift Truck Market Segmentation, By Product Type
7.1 Introduction
7.2 Warehouse
7.3 Counterbalance
8. Forklift Truck Market Segmentation, By Technology Type
8.1 Introduction
8.2 Electric
8.3 ICE (Internal Combustion Engine)
9. Forklift Truck Market Segmentation, By Application
9.1 Introduction
9.2 Manufacturing
9.3 Logistic
9.4 Retail & Wholesale
9.5 Others
10. Forklift Truck Market Segmentation, By Capacity
10.1 Introduction
10.2 Below 5 Tons
10.3 Above 5 Tons
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 Trend Analysis
11.2.2 North America Forklift Truck Market by Country
11.2.3 North America Forklift Truck Market By Product Type
11.2.4 North America Forklift Truck Market By Technology Type
11.2.5 North America Forklift Truck Market By Application
11.2.6 North America Forklift Truck Market By Capacity
11.2.7 USA
11.2.7.1 USA Forklift Truck Market By Product Type
11.2.7.2 USA Forklift Truck Market By Technology Type
11.2.7.3 USA Forklift Truck Market By Application
11.2.7.4 USA Forklift Truck Market By Capacity
11.2.8 Canada
11.2.8.1 Canada Forklift Truck Market By Product Type
11.2.8.2 Canada Forklift Truck Market By Technology Type
11.2.8.3 Canada Forklift Truck Market By Application
11.2.8.4 Canada Forklift Truck Market By Capacity
11.2.9 Mexico
11.2.9.1 Mexico Forklift Truck Market By Product Type
11.2.9.2 Mexico Forklift Truck Market By Technology Type
11.2.9.3 Mexico Forklift Truck Market By Application
11.2.9.4 Mexico Forklift Truck Market By Capacity
11.3 Europe
11.3.1 Trend Analysis
11.3.2 Eastern Europe
11.3.2.1 Eastern Europe Forklift Truck Market by Country
11.3.2.2 Eastern Europe Forklift Truck Market By Product Type
11.3.2.3 Eastern Europe Forklift Truck Market By Technology Type
11.3.2.4 Eastern Europe Forklift Truck Market By Application
11.3.2.5 Eastern Europe Forklift Truck Market By Capacity
11.3.2.6 Poland
11.3.2.6.1 Poland Forklift Truck Market By Product Type
11.3.2.6.2 Poland Forklift Truck Market By Technology Type
11.3.2.6.3 Poland Forklift Truck Market By Application
11.3.2.6.4 Poland Forklift Truck Market By Capacity
11.3.2.7 Romania
11.3.2.7.1 Romania Forklift Truck Market By Product Type
11.3.2.7.2 Romania Forklift Truck Market By Technology Type
11.3.2.7.3 Romania Forklift Truck Market By Application
11.3.2.7.4 Romania Forklift Truck Market By Capacity
11.3.2.8 Hungary
11.3.2.8.1 Hungary Forklift Truck Market By Product Type
11.3.2.8.2 Hungary Forklift Truck Market By Technology Type
11.3.2.8.3 Hungary Forklift Truck Market By Application
11.3.2.8.4 Hungary Forklift Truck Market By Capacity
11.3.2.9 Turkey
11.3.2.9.1 Turkey Forklift Truck Market By Product Type
11.3.2.9.2 Turkey Forklift Truck Market By Technology Type
11.3.2.9.3 Turkey Forklift Truck Market By Application
11.3.2.9.4 Turkey Forklift Truck Market By Capacity
11.3.2.10 Rest of Eastern Europe
11.3.2.10.1 Rest of Eastern Europe Forklift Truck Market By Product Type
11.3.2.10.2 Rest of Eastern Europe Forklift Truck Market By Technology Type
11.3.2.10.3 Rest of Eastern Europe Forklift Truck Market By Application
11.3.2.10.4 Rest of Eastern Europe Forklift Truck Market By Capacity
11.3.3 Western Europe
11.3.3.1 Western Europe Forklift Truck Market by Country
11.3.3.2 Western Europe Forklift Truck Market By Product Type
11.3.3.3 Western Europe Forklift Truck Market By Technology Type
11.3.3.4 Western Europe Forklift Truck Market By Application
11.3.3.5 Western Europe Forklift Truck Market By Capacity
11.3.3.6 Germany
11.3.3.6.1 Germany Forklift Truck Market By Product Type
11.3.3.6.2 Germany Forklift Truck Market By Technology Type
11.3.3.6.3 Germany Forklift Truck Market By Application
11.3.3.6.4 Germany Forklift Truck Market By Capacity
11.3.3.7 France
11.3.3.7.1 France Forklift Truck Market By Product Type
11.3.3.7.2 France Forklift Truck Market By Technology Type
11.3.3.7.3 France Forklift Truck Market By Application
11.3.3.7.4 France Forklift Truck Market By Capacity
11.3.3.8 UK
11.3.3.8.1 UK Forklift Truck Market By Product Type
11.3.3.8.2 UK Forklift Truck Market By Technology Type
11.3.3.8.3 UK Forklift Truck Market By Application
11.3.3.8.4 UK Forklift Truck Market By Capacity
11.3.3.9 Italy
11.3.3.9.1 Italy Forklift Truck Market By Product Type
11.3.3.9.2 Italy Forklift Truck Market By Technology Type
11.3.3.9.3 Italy Forklift Truck Market By Application
11.3.3.9.4 Italy Forklift Truck Market By Capacity
11.3.3.10 Spain
11.3.3.10.1 Spain Forklift Truck Market By Product Type
11.3.3.10.2 Spain Forklift Truck Market By Technology Type
11.3.3.10.3 Spain Forklift Truck Market By Application
11.3.3.10.4 Spain Forklift Truck Market By Capacity
11.3.3.11 Netherlands
11.3.3.11.1 Netherlands Forklift Truck Market By Product Type
11.3.3.11.2 Netherlands Forklift Truck Market By Technology Type
11.3.3.11.3 Netherlands Forklift Truck Market By Application
11.3.3.11.4 Netherlands Forklift Truck Market By Capacity
11.3.3.12 Switzerland
11.3.3.12.1 Switzerland Forklift Truck Market By Product Type
11.3.3.12.2 Switzerland Forklift Truck Market By Technology Type
11.3.3.12.3 Switzerland Forklift Truck Market By Application
11.3.3.12.4 Switzerland Forklift Truck Market By Capacity
11.3.3.13 Austria
11.3.3.13.1 Austria Forklift Truck Market By Product Type
11.3.3.13.2 Austria Forklift Truck Market By Technology Type
11.3.3.13.3 Austria Forklift Truck Market By Application
11.3.3.13.4 Austria Forklift Truck Market By Capacity
11.3.3.14 Rest of Western Europe
11.3.3.14.1 Rest of Western Europe Forklift Truck Market By Product Type
11.3.3.14.2 Rest of Western Europe Forklift Truck Market By Technology Type
11.3.3.14.3 Rest of Western Europe Forklift Truck Market By Application
11.3.3.14.4 Rest of Western Europe Forklift Truck Market By Capacity
11.4 Asia-Pacific
11.4.1 Trend Analysis
11.4.2 Asia-Pacific Forklift Truck Market by Country
11.4.3 Asia-Pacific Forklift Truck Market By Product Type
11.4.4 Asia-Pacific Forklift Truck Market By Technology Type
11.4.5 Asia-Pacific Forklift Truck Market By Application
11.4.6 Asia-Pacific Forklift Truck Market By Capacity
11.4.7 China
11.4.7.1 China Forklift Truck Market By Product Type
11.4.7.2 China Forklift Truck Market By Technology Type
11.4.7.3 China Forklift Truck Market By Application
11.4.7.4 China Forklift Truck Market By Capacity
11.4.8 India
11.4.8.1 India Forklift Truck Market By Product Type
11.4.8.2 India Forklift Truck Market By Technology Type
11.4.8.3 India Forklift Truck Market By Application
11.4.8.4 India Forklift Truck Market By Capacity
11.4.9 Japan
11.4.9.1 Japan Forklift Truck Market By Product Type
11.4.9.2 Japan Forklift Truck Market By Technology Type
11.4.9.3 Japan Forklift Truck Market By Application
11.4.9.4 Japan Forklift Truck Market By Capacity
11.4.10 South Korea
11.4.10.1 South Korea Forklift Truck Market By Product Type
11.4.10.2 South Korea Forklift Truck Market By Technology Type
11.4.10.3 South Korea Forklift Truck Market By Application
11.4.10.4 South Korea Forklift Truck Market By Capacity
11.4.11 Vietnam
11.4.11.1 Vietnam Forklift Truck Market By Product Type
11.4.11.2 Vietnam Forklift Truck Market By Technology Type
11.4.11.3 Vietnam Forklift Truck Market By Application
11.4.11.4 Vietnam Forklift Truck Market By Capacity
11.4.12 Singapore
11.4.12.1 Singapore Forklift Truck Market By Product Type
11.4.12.2 Singapore Forklift Truck Market By Technology Type
11.4.12.3 Singapore Forklift Truck Market By Application
11.4.12.4 Singapore Forklift Truck Market By Capacity
11.4.13 Australia
11.4.13.1 Australia Forklift Truck Market By Product Type
11.4.13.2 Australia Forklift Truck Market By Technology Type
11.4.13.3 Australia Forklift Truck Market By Application
11.4.13.4 Australia Forklift Truck Market By Capacity
11.4.14 Rest of Asia-Pacific
11.4.14.1 Rest of Asia-Pacific Forklift Truck Market By Product Type
11.4.14.2 Rest of Asia-Pacific Forklift Truck Market By Technology Type
11.4.14.3 Rest of Asia-Pacific Forklift Truck Market By Application
11.4.14.4 Rest of Asia-Pacific Forklift Truck Market By Capacity
11.5 Middle East & Africa
11.5.1 Trend Analysis
11.5.2 Middle East
11.5.2.1 Middle East Forklift Truck Market by Country
11.5.2.2 Middle East Forklift Truck Market By Product Type
11.5.2.3 Middle East Forklift Truck Market By Technology Type
11.5.2.4 Middle East Forklift Truck Market By Application
11.5.2.5 Middle East Forklift Truck Market By Capacity
11.5.2.6 UAE
11.5.2.6.1 UAE Forklift Truck Market By Product Type
11.5.2.6.2 UAE Forklift Truck Market By Technology Type
11.5.2.6.3 UAE Forklift Truck Market By Application
11.5.2.6.4 UAE Forklift Truck Market By Capacity
11.5.2.7 Egypt
11.5.2.7.1 Egypt Forklift Truck Market By Product Type
11.5.2.7.2 Egypt Forklift Truck Market By Technology Type
11.5.2.7.3 Egypt Forklift Truck Market By Application
11.5.2.7.4 Egypt Forklift Truck Market By Capacity
11.5.2.8 Saudi Arabia
11.5.2.8.1 Saudi Arabia Forklift Truck Market By Product Type
11.5.2.8.2 Saudi Arabia Forklift Truck Market By Technology Type
11.5.2.8.3 Saudi Arabia Forklift Truck Market By Application
11.5.2.8.4 Saudi Arabia Forklift Truck Market By Capacity
11.5.2.9 Qatar
11.5.2.9.1 Qatar Forklift Truck Market By Product Type
11.5.2.9.2 Qatar Forklift Truck Market By Technology Type
11.5.2.9.3 Qatar Forklift Truck Market By Application
11.5.2.9.4 Qatar Forklift Truck Market By Capacity
11.5.2.10 Rest of Middle East
11.5.2.10.1 Rest of Middle East Forklift Truck Market By Product Type
11.5.2.10.2 Rest of Middle East Forklift Truck Market By Technology Type
11.5.2.10.3 Rest of Middle East Forklift Truck Market By Application
11.5.2.10.4 Rest of Middle East Forklift Truck Market By Capacity
11.5.3 Africa
11.5.3.1 Africa Forklift Truck Market by Country
11.5.3.2 Africa Forklift Truck Market By Product Type
11.5.3.3 Africa Forklift Truck Market By Technology Type
11.5.3.4 Africa Forklift Truck Market By Application
11.5.3.5 Africa Forklift Truck Market By Capacity
11.5.3.6 Nigeria
11.5.3.6.1 Nigeria Forklift Truck Market By Product Type
11.5.3.6.2 Nigeria Forklift Truck Market By Technology Type
11.5.3.6.3 Nigeria Forklift Truck Market By Application
11.5.3.6.4 Nigeria Forklift Truck Market By Capacity
11.5.3.7 South Africa
11.5.3.7.1 South Africa Forklift Truck Market By Product Type
11.5.3.7.2 South Africa Forklift Truck Market By Technology Type
11.5.3.7.3 South Africa Forklift Truck Market By Application
11.5.3.7.4 South Africa Forklift Truck Market By Capacity
11.5.3.8 Rest of Africa
11.5.3.8.1 Rest of Africa Forklift Truck Market By Product Type
11.5.3.8.2 Rest of Africa Forklift Truck Market By Technology Type
11.5.3.8.3 Rest of Africa Forklift Truck Market By Application
11.5.3.8.4 Rest of Africa Forklift Truck Market By Capacity
11.6 Latin America
11.6.1 Trend Analysis
11.6.2 Latin America Forklift Truck Market by Country
11.6.3 Latin America Forklift Truck Market By Product Type
11.6.4 Latin America Forklift Truck Market By Technology Type
11.6.5 Latin America Forklift Truck Market By Application
11.6.6 Latin America Forklift Truck Market By Capacity
11.6.7 Brazil
11.6.7.1 Brazil Forklift Truck Market By Product Type
11.6.7.2 Brazil Forklift Truck Market By Technology Type
11.6.7.3 Brazil Forklift Truck Market By Application
11.6.7.4 Brazil Forklift Truck Market By Capacity
11.6.8 Argentina
11.6.8.1 Argentina Forklift Truck Market By Product Type
11.6.8.2 Argentina Forklift Truck Market By Technology Type
11.6.8.3 Argentina Forklift Truck Market By Application
11.6.8.4 Argentina Forklift Truck Market By Capacity
11.6.9 Colombia
11.6.9.1 Colombia Forklift Truck Market By Product Type
11.6.9.2 Colombia Forklift Truck Market By Technology Type
11.6.9.3 Colombia Forklift Truck Market By Application
11.6.9.4 Colombia Forklift Truck Market By Capacity
11.6.10 Rest of Latin America
11.6.10.1 Rest of Latin America Forklift Truck Market By Product Type
11.6.10.2 Rest of Latin America Forklift Truck Market By Technology Type
11.6.10.3 Rest of Latin America Forklift Truck Market By Application
11.6.10.4 Rest of Latin America Forklift Truck Market By Capacity
12. Company Profiles
12.1 Toyota Industries Corporation
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 The SNS View
12.2 Crown Equipment Corporation
12.2.1 Company Overview
12.2.2 Financial
12.2.3 Products/ Services Offered
12.2.4 The SNS View
12.3 Kion Group AG
12.3.1 Company Overview
12.3.2 Financial
12.3.3 Products/ Services Offered
12.3.4 The SNS View
12.4 Hyster-Yale Materials Handling Inc.,
12.4.1 Company Overview
12.4.2 Financial
12.4.3 Products/ Services Offered
12.4.4 The SNS View
12.5 Hyundai Heavy Industries
12.5.1 Company Overview
12.5.2 Financial
12.5.3 Products/ Services Offered
12.5.4 The SNS View
12.6 Mitsubishi Nichiyu Forklift Co., Ltd.
12.6.1 Company Overview
12.6.2 Financial
12.6.3 Products/ Services Offered
12.6.4 The SNS View
12.7 Jungheinrich AG
12.7.1 Company Overview
12.7.2 Financial
12.7.3 Products/ Services Offered
12.7.4 The SNS View
12.8 Doosan Industrial Vehicle
12.8.1 Company Overview
12.8.2 Financial
12.8.3 Products/ Services Offered
12.8.4 The SNS View
12.9 Hangcha Group
12.9.1 Company Overview
12.9.2 Financial
12.9.3 Products/ Services Offered
12.9.4 The SNS View
12.10 Others
12.10.1 Company Overview
12.10.2 Financial
12.10.3 Products/ Services Offered
12.10.4 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The ISO container market size is expected to value at USD 266.51 Million in 2023 and is estimated to reach USD 579.78 Million by 2032 with a growing CAGR of 9.2% over the forecast period 2024-2032.
The Hybrid Valve Market size was estimated at USD 1.26 billion in 2023 and is expected to reach USD 2.05 billion by 2031 at a CAGR of 6.3% during the forecast period of 2024-2031.
The Industrial Laundry Machine Market size was USD 2.65 billion in 2023 and is expected to Reach USD 4.04 billion by 2031 and grow at a CAGR of 5.44% over the forecast period of 2024-2031.
Storage Tank Market Size was esteemed at USD 24.34 billion in 2023 and is supposed to arrive at USD 44.82 billion by 2032 and develop at a CAGR of 7.02% over the forecast period 2024-2032.
The Pumps Market size was valued at USD 95.8 Billion in 2023. It is expected to grow to USD 128.25 Billion by 2031 and grow at a CAGR of 3.71% over the forecast period of 2024-2031.
The Packaging Machinery Market size was valued at USD 46.2 Billion in 2023 and is now anticipated to grow to USD 73.09 Billion by 2032, displaying a compound annual growth rate CAGR of 5.23% during the forecast Period 2024-2032.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
