Used Heavy Duty Forklift Truck Market was valued at USD 5.14 Billion in 2022 and is projected to reach USD 7.15 Billion by 2030, growing at a CAGR of 4.3% from 2024 to 2030.
From 2018 to 2022, the used heavy-duty forklift market experienced steady growth, particularly in logistics, retail, automotive, and food industries. The shift toward electric forklifts also impacted the used market, as older diesel-powered models remained in circulation while businesses upgraded to eco-friendly options. Key players like Toyota, Hyster-Yale, and KION Group dominated the market, with refurbished models gaining traction.
Regional trends varied significantly. North America and Europe saw strong demand, driven by automation and sustainability efforts. Meanwhile, Asia-Pacific remained the largest market, with China and India leading in industrial expansion. The Middle East and Latin America also saw steady growth, mainly due to infrastructure projects.
Looking at forecasts from 2023 to 2033, demand for used forklifts is expected to grow as companies prioritize cost-effective material handling solutions. Automation and AI-driven forklifts will reshape the market, with demand increasing for smart, connected forklifts. The logistics and warehousing boom, fueled by e-commerce, will continue to drive second-hand forklift sales.
Key trends influencing future demand include the rise of electric forklifts, stringent emissions regulations, and increasing fleet management solutions. Asia-Pacific will remain dominant, but North America and Europe will see a significant rise in demand for electric and automated models. Price fluctuations due to global supply chain challenges and economic downturns could impact growth rates.
Overall, the used heavy-duty forklift truck market from 2023 to 2033 will be shaped by technological advancements, regulatory policies, and industrial expansion, making it a critical sector for logistics and warehousing companies.
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The global used heavy-duty forklift truck market saw significant fluctuations from 2018 to 2022, shaped by economic trends, industrial expansion, and supply chain disruptions. Between 2018 and 2022, demand for used forklifts surged due to cost-efficiency and supply chain constraints affecting new equipment production. The COVID-19 pandemic in 2020 severely disrupted manufacturing but also accelerated e-commerce and warehousing investments, fueling forklift demand.
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 Heavy Duty Forklift Truck Market
Warehouses
Factories
Distribution Centers
Others
Based on Types the Market is categorized into Below types that held the largest Used Heavy Duty 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 Heavy Duty 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 Heavy Duty Forklift Truck Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Used Heavy Duty Forklift Truck Market, By Type
6. Global Used Heavy Duty Forklift Truck Market, By Application
7. Global Used Heavy Duty Forklift Truck Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Used Heavy Duty Forklift Truck Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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