The global forklift trucks market is likely to witness considerable growth due to the product variations forklift trucks. According to a report published by Fortune Business Insights, titled “Forklift trucks Market Size, Share and Industry Analysis, By Type, Application and Regional Forecast, 2019-2026,” the market was valued at 1,538 thousand units in 2018 is projected to reach 2,242.1 by 2026, exhibiting a CAGR of 5.11% during the forecast period.

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Some of the leading companies that are operating in the global forklift trucks market are:

• Toyota Industries Corporation
• Kion Group AG
• Hyster-Yale Materials Handling Inc
• Hyundai Heavy Industries
• Mitsubishi Nichiyu Forklift Co., Ltd
• Jungheinrich AG
• Hyster-Yale Materials Handling
• Anhui Forklift Truck
• Doosan Industrial Vehicle
• Hangcha Group
• Komatsu Ltd
• Hangcha Group Co. Ltd
• Godrej and Boyce Manufacturing

The increasing investment in the research and development of large-capacity forklift trucks has paved the way for growth for the companies operating in the global forklift trucks market. Increased adoption of e-commerce services and mining activities will fuel the demand for forklift trucks across the world. The report provides segmentation of the global forklift trucks market based on factors such as product types, applications, and regional demographics. Among all end-use applications, Fortune Business Insights has predicted that the manufacturing industry is likely to witness the highest growth during the forecast period owing to the high demand for the product across the world.

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The report provides a comprehensive overview of the global forklift trucks market. Fortune Business Insights provides a detailed analysis of the global market and highlights key aspects such as leading product types, leading segment, and the region with the highest growth potential. Additionally, the report enlists several leading companies that have generated substantial forklift trucks market revenue in recent years and forecasts the companies that are likely to emerge leading in the coming years.

“Toyota Material Handling Holds Highest Forklift Trucks Market Share”

Among all companies, Toyota Material Handling currently holds the highest portion of the forklift trucks market share. This is attributable to a strong market brand, a wide customer base, and an impeccable research and development (RandD) unit. In addition to increasing its business expansion, the company is also indulged in factors such as consumer safety and reduced product costs. Hyster-Yale Materials is another such company that has made a huge contribution to an increase in the global forklift trucks market size. The company excels in connected device technology across the forklift trucks industry.

“Forklift trucks Market in Asia Pacific Forecast to Exhibit the Highest Growth”

The forklift trucks market in Asia Pacific is likely to witness the highest growth in the coming years. The huge demand for forklift trucks for material handling equipment across several industries such as construction, mining, and food and beverage will favor the growth of the forklift trucks market in the Asia Pacific. Additionally, the adoption of technologically advanced forklift trucks will enable an increase in the forklift trucks market size in the coming years. Fortune Business Insights states that the forklift trucks market in Aisa Pacific was valued at USD 1.28 Billion in 2018 is likely to emerge dominant during the forecast period. Having said that, North America is likely to witness the highest growth in the coming years due to the presence of several big name players in this region.

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To view the original version on The Express Wire visit ForkLift Trucks Market 2019: Global Size, Trends, Potential Growth and Key Factors Forecast to 2026