Forklift Market in India 2025-2033: Size, Share, Growth, Industry Trends, Analysis and Report
According to IMARC Group's report titled " India Forklift Market Report and Forecast 2025-2033," the market reached USD 277.80 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 408.28 Million by 2033, exhibiting a growth rate (CAGR) of 4.40% during 2025-2033.
Forklift Market - India
Market Statistics
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024:USD 7.20 Billion
Market Size in 2033: USD 21.98 Billion
Market Growth Rate (CAGR) 2025-2033: 13.20%
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According to IMARC Group's report titled " India Forklift Market Report and Forecast 2025-2033," the market reached USD 277.80 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 408.28 Million by 2033, exhibiting a growth rate (CAGR) of 4.40% during 2025-2033.
India Forklift Market Trends and Drivers:
- The India forklift market is observing strong growth, spearheaded by the fast-growing warehousing, manufacturing, and logistics industries.
- As e-commerce and organized retail are growing, businesses are making larger investments in material handling gear in order to enhance efficiency of operations and lower turnaround time.
- Furthermore, the growth drive of industrial automation in different industries has boosted the use of electric and hybrid forklifts as companies look towards cost-saving, eco-friendly solutions.
- Furthermore, government policies such as the 'Make in India' initiative and enhanced infrastructure development are further fueling market growth by promoting local production and driving demand for warehouse automation.
- Also, there is increasing demand for electric forklifts, driven by environmental regulations and cost-cutting efforts.
- Increasing demand from the cold storage and food processing sectors, supported by economic growth, is also driving demand for more compact and efficient forklifts to serve in tight spaces.
- In essence, the growing emphasis on workplace safety and efficiency has prompted numerous companies to transition to newer, high-tech forklift models that come with sensors and real-time monitoring systems.
- In addition, the growth of the logistics industry in Tier II and Tier III cities is creating new avenues for market players.
- Therefore, the forklift market in India is poised to gain with a combination of technological innovation, infrastructure development, and shifting industry demand.
India Forklift Market Segmentation:
IMARCs report provides a deep dive into the India forklift market analysis, outlining the current trends, underlying market demand, and growth trajectories.
Class Insights:
- Class 1
- Class 2
- Class 3
- Class 4/5
Power Source Insights:
- ICE
- Electric
Load Capacity Insights:
- Below 5 Ton
- 5-15 Ton
- Above 16 Ton
Electric Battery Insights:
- Li-ion
- Lead Acid
End User Insights:
- Industrial
- Logistics
- Chemical
- Food & Beverage
- Retail & E-Commerce
- Others
Regional Insights:
- North India
- South India
- East India
- West India
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendation
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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