Dublin, March 06, 2026 (GLOBE NEWSWIRE) — The “Electric Forklifts Market Report 2026” has been added to ResearchAndMarkets.com’s offering.
The electric forklifts market is experiencing significant growth, expected to surge from $72.12 billion in 2025 to $80.42 billion in 2026, maintaining a robust CAGR of 11.5%. The historical growth was driven by increased e-commerce, warehouse expansion, and a growing need for indoor forklifts and lead-acid battery adoption.
Looking to the future, the market is projected to expand further to $124.23 billion by 2030, with consistent growth factors including lithium-ion battery cost reductions, enhanced logistics automation, sustainability mandates, and a rising demand for fast-charging and smart fleet management systems. Key trends include a shift from internal combustion to electric forklifts, increased use of lithium-ion batteries, growth in indoor material handling, warehouse automation expansion, and elevated demand for low-emission equipment.
The burgeoning warehouse industry is a critical driver of the electric forklift market. This sector, fueled by e-commerce expansion, demands more efficient storage solutions and quicker order fulfillment. Electric forklifts are indispensable in warehouse operations, known for their efficiency in lifting, moving, and stacking goods with minimal noise and zero on-site emissions. According to the Bureau of Labor Statistics, the warehousing sector is expected to grow 8.6% from 2022 to 2032, exceeding the national average growth rate of 2.8%.
Leading companies in the electric forklift industry are rapidly innovating, particularly with electric pneumatic forklifts that operate efficiently in various environmental conditions, ideal for retail applications. For instance, Toyota Material Handling, Inc. introduced a new line of electric pneumatic forklifts in November 2023, equipped with 48V and 80V models, featuring maintenance-free operation and customizable performance settings.
Strategic acquisitions are also shaping the market landscape. In July 2023, Mitsubishi Heavy Industries Ltd. acquired Concentric LLC to enhance its capabilities in delivering comprehensive, solution-oriented products and services in the material handling sector.
Prominent players in the market include Toyota Motor Corporation, BYD Company Ltd, Komatsu Ltd., KION Group AG, Jungheinrich AG, Crown Equipment Corporation, Hyster-Yale Materials Handling Inc., and others. North America held the largest market share in 2025, while Asia-Pacific is anticipated to be the fastest-growing region during the forecast period.
The electric forklifts market encompasses a range of products such as warehouse forklifts, order pickers, pallet jacks, tow trucks, and automated guided vehicles, valued as ‘factory gate’ sales. These include the revenues generated from the sale of goods and/or services within the specified market and geography.
Report Scope
Markets Covered:
- By Product: Counterbalanced, Pallet Trucks, Reach Trucks, Pallet Stackers, Others
- By Battery Type: Lead-Acid, Lithium-ion, Fuel Cell
- By End Use: Chemical, Food and Beverage, Industrial, Logistics, Retail and E-Commerce, Others
Product Subsegments:
- Counterbalanced: Standard, Heavy-Duty
- Pallet Trucks: Manual Electric, Powered
- Reach Trucks: Stand-Up, Sit-Down
- Pallet Stackers: Manual, Electric
- Others: Order Pickers, Tow Trucks, Specialized Models
Key Companies Mentioned: Toyota Motor Corporation, BYD Company Ltd, Komatsu Ltd., KION Group AG, Jungheinrich AG, among others.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2026 – 2030 |
| Estimated Market Value (USD) in 2026 | $80.42 Billion |
| Forecasted Market Value (USD) by 2030 | $124.23 Billion |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | Global |
Companies Featured
- Toyota Motor Corporation
- BYD Company Ltd
- Komatsu Ltd.
- KION Group AG
- Jungheinrich AG
- Crown Equipment Corporation
- Hyster-Yale Materials Handling Inc.
- Lonking Holdings Limited
- Anhui Heli Co Ltd.
- Manitou Group
- UniCarriers Corporation
- Godrej And Boyce Mfg. Co. Ltd
- Hangcha Group Co Ltd
- Clark Material Handling International
- Linde Material Handling
- Doosan Industrial Vehicles Co. Ltd
- Tailift Co Ltd
- HELI Forklift Co Ltd
- EP Equipment
- Nissan Forklift Corporation
For more information about this report visit https://www.researchandmarkets.com/r/oz1gle
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- Electric Forklifts Market
