General Construction Products & Machinery

Forklifts: Market Size, Growth & Forecast to 2030

The Forklifts market is valued at about $74 billion (2026) and is projected to grow at a 4.6% CAGR through 2030. The largest cost driver is Structural Steel and Metals (30% of spend). Asia Pacific leads demand at 42%.

Market size
$74.0 bn (2026)
CAGR to 2030
+4.6%
Buyer power
Favours buyers
Tracked suppliers
25
Projected market growth (index, 2026 = 100)
Base year 2026
Official data · Claight projectionForecast
Market size index, 2026 = 100, at the 4.6% CAGR.
Forecast
2026
2027
2028
2029
2030
2031
2026 base: 1002031 est: 125

Cost structure

Structural Steel and Metals
30%
Batteries and Powertrain Systems
25%
Manufacturing Labor and Assembly
20%
Hydraulics and Electronic Components
15%
Logistics and Freight
10%

Regional demand split

Asia Pacific demand
42%
Europe demand
26%
North America demand
22%
Rest of world demand
10%

Key suppliers

Toyota Industries CorporationKION GroupJungheinrich AGHyster-Yale Materials HandlingCrown Equipment Corporation
Read the full Forklifts report →

Claight market analysis of proprietary and public data. Full report: /category-intelligence/forklifts