A “considerably extra constructive outlook” is forecast for the worldwide forklift marketplace from 2026 onwards, in keeping with Engage Research. Its newest document sees the corporate revise its expansion forecast for the forklift marketplace upwards, as each the momentary trajectory and the long-term possible support. The marketplace intelligence specialist predicts a robust year-on-year expansion fee of five% between 2024 and 2034. Marketplace expansion rose from 3.4% in 2024 to achieve 7.1% year-on-year in 2025 and Engage Research states its revised forecast ‘displays a persistently upper expansion trail via 2034, indicating sustained structural development quite than only a momentary bubble.’
China and India lead surge in international forklift orders
The worldwide forklift marketplace is anticipated to exceed 3.6 million gadgets in annual orders through 2034, an building up of 400,000 from previous predictions. Nearly 80% of this expansion is pushed through Chinese language and Indian markets, that are forecast to be at the vanguard of world call for for subject material dealing with apparatus over the following decade. China accounts for over 70% of the expected expansion, with forecasts appearing a widening contribution over the years, in particular between 2030 and 2034.
Increasingly more constructive funding plans amongst end-customers
There are rising indicators of optimism out there, with 50% of end-customers expecting expanding their funding in subject material dealing with apparatus through greater than 10% in 2026. Engage Research believes this enthusiasm for automation in production and logistics is pushed through components together with emerging labour prices and the expanding adulthood of subject material dealing with answers. Then again, many automation apparatus producers deal with a extra wary outlook because of demanding situations corresponding to macroeconomic volatility, geopolitical uncertainty, international provide chain disruptions, and shortages of key elements.
Maya Xiao, Engage Research APAC Analysis Supervisor, says, “At the start, emerging call for for automation in production and logistics is fuelling considerable funding in complex subject material dealing with answers. Secondly, the speeded up twin shift towards electrification and automation is boosting worth and rushing up the substitute of out of date fleets. In any case, robust rising marketplace call for in areas like Southeast Asia, the Heart East, and Africa is including additional expansion momentum.
“Closing, however now not least, an growing old inhabitants, emerging labour prices, and difficulties in recruiting/holding personnel have turn out to be acute issues globally and a key technique can be to make use of automation to make up for the shortages of human exertions. This can be a long-term motive force of the forklift business. The convergence of provide chain reorganisation, technological transformation, and international infrastructure construction creates a beneficial surroundings for the following decade, with the upgraded 5% year-on-year forecast reflecting this sustained sure shift.”
