The Asia Pacific forklift truck market is projected to be the fastest-growing market region during the forecasted period, with a CAGR of 2.42%. The increasing applications of forklift trucks and the booming construction sector in the region, are the dominant factors propelling the growth of the market in the region.
The forklift truck market in the Asia Pacific region is segmented into the market regions of Thailand, Indonesia, Vietnam, South Korea, Japan, China, India, New Zealand & Australia, and the Rest of Asia Pacific. In countries like New Zealand & Australia, there are many warehouses coming up, along with investments by multinational organizations. The forklift trucks are utilized for loading and unloading materials in the warehouses, along with handling the storage of heavy materials. At the same time, e-commerce organizations and warehouse retailers are expanding their enterprises in the countries. These factors are estimated to propel the market growth of the forklift truck in these regions. The countries like Indonesia have the reputation of being the second most profitable and productive construction market in Asia. The growing demand for residential properties and the growth prospects of the property sector, along with the prominent sector of building and construction, is set to result in vast market growth opportunities for the forklift truck. This is because of the utility benefits of forklift trucks.
Kion Group Ag, Godrej & Boyce Manufacturing Company Limited, Hangcha Group Co., Ltd., Doosan Corporation Industrial Vehicle, Hyundai Heavy Industries Co., Ltd, Lonking Holdings Limited, Komatsu Ltd., etc. make it to the list of well-renowned and well-established players of the market.
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- Market Segmentation cater to a thorough assessment of key segments with their market estimations
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