Used and Refurbished Multi-directional Forklift Truck Market was valued at USD 3.5 Billion in 2022 and is projected to reach USD 5.2 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
By 2022, the demand for used and refurbished multi-directional forklift trucks had grown significantly, driven by several factors. The rising emphasis on automation, warehouse optimization, and cost reduction strategies pushed companies to explore the benefits of refurbished equipment. Additionally, the market for refurbished trucks expanded as manufacturers improved the process of refurbishing older models, ensuring they met modern operational standards. However, while the market thrived, it also faced challenges such as supply chain disruptions and rising material costs, which limited availability and sometimes increased prices for high-quality refurbished units.
Looking ahead to 2023 to 2033, the outlook for the used and refurbished multi-directional forklift truck market appears even more promising. The demand for these trucks is projected to increase as businesses continue to embrace automation, e-commerce growth, and expanding supply chain needs. Industry experts predict a rise in the adoption of electric and eco-friendly forklift models, which will drive the demand for both new and refurbished units. Furthermore, advancements in technology and materials are expected to further extend the life cycle of refurbished forklifts, making them an even more appealing option for companies seeking budget-friendly alternatives without compromising on quality.
As the global economy recovers and businesses continue to prioritize efficiency and cost reduction, the used and refurbished forklift market is poised for substantial growth. The transition toward green logistics, particularly in sectors like e-commerce and food distribution, will likely accelerate demand for eco-friendly and energy-efficient forklift solutions. Additionally, the trend toward sustainability will influence the refurbishment process, with more emphasis on energy-efficient models and the integration of renewable energy sources.
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The used and refurbished multi-directional forklift truck market from 2018 to 2022 has seen remarkable shifts, reflecting broader trends in the industrial equipment sector. In this period, demand grew steadily as businesses sought cost-effective alternatives to new machines, particularly in industries like warehousing, logistics, and construction. Multi-directional forklift trucks, known for their versatility and ability to operate in narrow aisles and tight spaces, have proven invaluable in optimizing warehouse space and improving operational efficiency. As businesses faced financial pressures, the demand for used and refurbished models surged, providing cost savings without sacrificing functionality.
Toyota
Kion
Jungheinrich
Mitsubishi Logisnext
Crown Equipment
Hyster-Yale
Anhui Heli
Hangcha
Clark Material Handling
Doosan Corporation Industrial Vehicle
Komatsu
Lonking
Hyundai Heavy Industries
EP Equipment
Manitou
Paletrans Equipment
Combilift
Hubtex Maschinenbau
Godrej & Boyce
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Used and Refurbished Multi-directional Forklift Truck Market
Warehouses
Factories
Distribution Centers
Others
Based on Types the Market is categorized into Below types that held the largest Used and Refurbished Multi-directional Forklift Truck market share In 2023.
Capacity Less than 3000LB
Capacity Between 3000-5000LB
Capacity More than 5000LB
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Used and Refurbished Multi-directional Forklift Truck Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Used and Refurbished Multi-directional Forklift Truck Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Used and Refurbished Multi-directional Forklift Truck Market, By Type
6. Global Used and Refurbished Multi-directional Forklift Truck Market, By Application
7. Global Used and Refurbished Multi-directional Forklift Truck Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Used and Refurbished Multi-directional Forklift Truck Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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