India Forklift Market Outlook, 2022 Page - 1/7

Publisher Bonafide Research Type Market Research Report

Product Code 170860031 Region Asia
Pages 81 Country India
Published Date 8 Category Manufacturing & Industry
Figures Bonafide Research Sub-Category Material Handling Equipment
Tables Bonafide Research Version 1

DESCRIPTION OF THE REPORT:

.
India forklift market is showing optimistic growth from the last few years in terms of value as well as
volume. Top international players have started setting their base in India and this is resulting into
availability of new technologically advanced products and product designs. Forklifts are now designed to
be more reliable, efficient and service friendly. In India, forklifts have found wide acceptance in
industries, ports and warehousing sector. Infrastructure growth, Make in India campaign and GST
implementation has pulled the demand in the industry. New emerging product types of battery operated
electric forklifts are gaining momentum in the country. Electric forklifts are now available with many
special attachments for specific applications with lower cost of ownership. Customers have started
preferring electric forklifts over diesel variants.
According to "India Forklift Market Outlook, 2022", forklift market is growing with a CAGR of more
than 13% from the last four years. In India, majority of forklifts are counterbalance and the rest are used
as warehousing equipment forklifts. Major players operating in the industry are Godrej & Boyce, KION
India (Voltas), Toyota Material Handling India, Nilkamal, Jost Engineering and Action Construction
Equipment. In March 2016, Hyundai launched its forklift business in India with a complete range of
forklifts and warehousing equipments. The entire range of forklift can be segregated into three
categories according to their load capacity: Light duty (1 to 3 tonne), Medium duty (4 to 8 tonne), and
heavy duty (10 tonne and above capacity). Light duty forklifts have been dominating in India; however a
trend of medium duty forklifts will be seen in the coming few years. Demand for pollution free greener
forklifts have also been increasing in the country with companies & industries becoming conscious about
environmental impacts of diesel forklifts.
Industries like automobile, logistics, chemicals, pharma etc are growing enormously in the Indian
economy and thus they are contributing majorly to the demand of forklifts. The market will gradually
move towards electric version and eventually the diesel forklifts will remain in the outdoor applications
only. Light generation trucks are high safety products with higher reliability and greater fuel efficiency. In
warehouse trucks, manual movement of material is now replaced by battery operated Pallet truck. The
trend is moving from reach truck to VNA and ASRS which are semi-automatic and automatic systems
respectively. E-commerce has been a big boom for forklift market in India as a lot of warehousing
operations got a boost because of that. Many 3PL companies, which have entered India, are doing their
job very efficiently. Demand for forklifts from rental market has also been seen growing and the growth
has been more aggressive from the last few years. Rental segment is dominant by unorganised players,
but now the scenario is changing due to OEM providing complete solutions to the industry including
rental services.
Key Product Types
Diesel Forklift
Electric/ Battery Operated Forklift
LPG Forklift
India Forklift Market Outlook, 2022 discusses the following aspects of forklift in India:
How it will help solving your strategic decision making process??
The report gives an in-depth understanding of forklift market in India:

India Forklift Market Outlook, 2022 Page - 2/7

 - Global Forklift Market Outlook
- India Material Handling Equipment Market Outlook
- India Material Handling Equipment Market Size By Value & Forecast
- India Material Handling Equipment Market Segmental Analysis: By Product, By End User, By
Production
- India Forklift Market Outlook
- India Forklift Market Size By Value & Forecast
- India Forklift Market Size By Volume & Forecast
- India Forklift Market Segmental Analysis: By Company, By Product Type, By End User, By Load
Capacity
- India Rental Forklift Market Overview
- Product Price & Variant Analysis
- The key vendors in this market space
- Competitive Landscape & Strategic Recommendations
This report can be useful to Industry consultants, manufacturers and other stakeholders to align their
market-centric strategies. In addition to marketing & presentations, it will also increase competitive
knowledge about the industry.
Report Methodology
The information contained in this report is based upon both primary and secondary research. Primary
research included interviews with various channel partners of forklifts in India. Secondary research
included an exhaustive search of relevant publications like company annual reports, financial reports
and proprietary databases.

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 TABLE OF CONTENTS
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1. Executive Summary
2. Global Forklift Market Outlook
3. India Material Handling Equipment Market Outlook
3.1. Market Size By Value
3.2. Market Share
3.2.1. By Product Type
3.2.2. By End User
3.2.3. By Production
4. India Forklift Market Outlook
4.1. Market Size
4.1.1. By Value
4.1.2. By Volume
4.1.3. Average Selling Price
4.2. Market Share By Value
4.2.1. By Company
4.2.2. By Product Type
4.3. Market Share By Volume
4.3.1. By End User
4.3.2. By Product Type
4.3.3. By Load Capacity
4.4. Product Price & Variant Analysis
4.5. India Rental Forklift Market Overview
5. India Economic Snapshot
6. Market Penetration
7. PEST Analysis
8. Policy and Regulatory Landscape
9. Trade Dynamics
9.1. Import
9.2. Export
10. Channel Partner Analysis
11. India Forklift Market Dynamics
11.1. Key Drivers
11.2. Key Challenges
12. Market Trends & Development
12.1. Positive Impact of GST on Construction and Material Handling Equipment
12.2. Manufacturing & Warehouse Industry Trends
12.3. Forklift Market Moving Towards Cleaner Products
12.4. Small Scale Projects Opting for Rental Forklifts
12.5. Palletisation & Containerization
13. Competitive Landscape
13.1. Porter's Five Forces
13.2. Company Profiles
13.2.1. Godrej & Boyce Manufacturing Company Limited
13.2.2. Toyota Material Handling India Private limited
13.2.3. Action Construction Equipment Limited
13.2.4. MHE Next Engineering Private Limited
13.2.5. Josts Engineering Company Limited
13.2.6. KION India Private Limited (Voltas)
13.2.7. Macneill Engineering Limited
13.2.8. Nilkamal Limited

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 13.2.9. Maini Materials Movement Private Limited
13.2.10. Hyundai Construction Equipment India Private Limited
14. Strategic Recommendations
15. Disclaimer

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 LIST OF FIGURES
Figure-1: India Material Handling Equipment Market Size By Value 2011-12 to 2015-16 (INR Crore)
Figure-2: India Material Handling Equipment Market Size Forecast By Value 2016-17F to 2021-22F (INR
Crore)
Figure-3: India Material Handling Equipment Market Share By Product Type 2015-16
Figure-4: India Material Handling Equipment Market Share By End User 2015-16
Figure-5: India Material Handling Equipment Market Share By Production 2015-16
Figure-6: India Forklift Market Size By Value 2011-12 to 2015-16 INR Crore)
Figure-7: India Forklift Market Size Forecast By Value 2016-17F to 2021-22F (INR Crore)
Figure-8: India Forklift Market Size By Volume 2011-12 to 2015-16 (Units)
Figure-9: India Forklift Market Size Forecast By Volume 2016-17F to 2021-22F (Units)
Figure-10: Average Selling Price of Forklifts in India 2011-12 to 2021-22F (INR)
Figure-11: India Forklift Market Share By Company By Value 2015-16
Figure-12: India Forklift Market Share By Product Type By Value 2015-16 & 2021-22F
Figure-13: India Forklift Market Share By End User By Volume 2015-16
Figure-14: India Forklift Market Share By Product Type By Volume 2015-16 & 2021-22F
Figure-15: India Forklift Market Share By Load Capacity By Volume 2015-16 & 2021-22F

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