Forklift Statistics and Facts (2026)

Introduction

Forklift Statistics: Forklifts play a vital role in material handling across various sectors, specifically engineered to lift, transport, and stack heavy loads with efficiency. The most common types consist of counterbalance forklifts, pallet jacks, reach trucks, order pickers, and telescopic handlers, each tailored for specific uses. Essential components encompass the mast, carriage, forks, lift cylinder, and counterweight.

To operate safely, it is imperative to follow load capacity guidelines, implement safety protocols, and conduct routine maintenance. Additionally, forklifts may be powered by electricity, diesel, gasoline, or propane, and operators are required to obtain certification in accordance with local regulations. Regular inspections are necessary to ensure adherence to safety standards.

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• The global forklift market has shown remarkable growth over the last ten years. With revenue rising from USD 60 billion in 2022 to an anticipated USD 194 billion by 2032.
• In 2023, the market achieved a valuation of USD 68 billion and maintained its upward trend, reaching USD 75 billion in 2024.
• In 2029, the market revenue expanded to USD 73,677.61 million, culminating at USD 75,213.68 million in 2030.
• In 2021, the sales figures for Class 4-5 forklifts were noted at 793,276 units.
• The market was led by Toyota Industries Corporation (Japan) with a substantial share of 28.44%.
• Africa led the market with a remarkable increase of 34.14%, highlighting the region’s impressive growth in lift truck shipments.
• 36% of fatalities involving forklifts are pedestrians.
• The typical expense associated with workers’ compensation claims amounts to $41,003 USD.

General Forklift Statistics

• The global forklift market has shown remarkable growth over the last ten years, with revenue rising from USD 60 billion in 2022 to an anticipated USD 194 billion by 2032.
• The market for forklifts is primarily propelled by electric power sources, which represent 66% of the total market share.
• This market is marked by a variety of significant players, with Hyundai Heavy Industries Ltd at the forefront, holding a 15% market share.
• The geographical distribution of the forklift market indicates a notable concentration in the Asia-Pacific (APAC) region, which commands the largest market share at 37.1%.
• In 2021, sales figures for Class 4-5 forklifts reached 793,276 units.
• In 2021, the lift truck market was primarily influenced by multiple key suppliers, with Toyota Industries Corporation from Japan at the forefront, holding a significant market share of 28.44%.
• In 2022, China emerged as the foremost exporter of forklift trucks and other vehicles equipped with lifting or handling apparatus, achieving an export value of USD 6,199.9 million.
• During the same year, the United States ranked as the leading importer of forklift trucks and other vehicles fitted with lifting or handling equipment, with a total import value of USD 4,487.8 million.
• Canada followed in second place with imports totaling USD 1,453.5 million, while Germany’s imports were valued at USD 1,266.4 million.

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Forklift Market Growth Statistics

• In 2023, the market achieved a valuation of USD 68 billion and maintained its upward trend, reaching USD 75 billion in 2024.
• The growth rate accelerated in the subsequent years, with revenues of USD 87 billion in 2025, USD 100 billion in 2026, and USD 111 billion in 2027.
• By 2028, the market attained USD 120 billion, followed by USD 135 billion in 2029 and USD 150 billion in 2030.
• The market is estimated to grow to USD 170 billion in 2031 and ultimately attain USD 194 billion in 2032.

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Regional Forklift Market Statistics

• The geographical distribution of the forklift market indicates a notable concentration in the Asia-Pacific (APAC) region, which commands the largest market share at 37.1%.
• North America follows closely with a significant share of 27.8%, underscoring its strong industrial foundation and elevated demand for material-handling equipment.
• Europe represents 22.3% of the market, showcasing its advanced manufacturing capabilities and solid logistics infrastructure.
• Meanwhile, Latin America and the Middle East & Africa (MEA) regions possess smaller market shares of 7.5% and 5.3%, respectively, highlighting the emerging opportunities and growth potential in these regions.

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Forklift Truck Market Statistics

• The global forklift truck market has shown steady growth, with revenue rising from USD 43,778.20 million in 2022 to an anticipated USD 75,213.68 million by 2030.
• In 2023, the market revenue increased to USD 46,347.74 million, followed by a rise to USD 50,224.98 million in 2024.
• The upward trajectory persisted in 2025, with revenues reaching USD 53,766.94 million and further climbing to USD 57,788.47 million in 2026.
• By 2027, the market recorded a revenue of USD 63,242.66 million, which grew to USD 68,506.16 million in 2028.
• In 2029, the market revenue expanded to USD 73,677.61 million, culminating at USD 75,213.68 million in 2030.

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Forklift Sales Statistics

• In 2021, the sales figures for Class 4-5 forklifts were noted at 793,276 units.
• This segment is anticipated to experience growth, reaching 865,708 units by 2025 and further escalating to 898,283 units by 2030.
• Class 3 forklifts also demonstrated considerable sales, with 776,315 units sold in 2021.
• The sales are forecasted to increase to 896,632 units in 2025 and 911,512 units by 2030.
• Class 1 forklifts recorded sales of 335,508 units in 2021, with projected growth to 386,256 units in 2025 and 400,248 units by 2030.
• Finally, Class 2 forklifts reported sales of 148,964 units in 2021, expected to rise to 172,394 units in 2025 and 177,259 units by 2030.

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Statistics of Forklift Suppliers

• The market was led by Toyota Industries Corporation (Japan) with a substantial share of 28.44%.
• Kion Group (Germany) follows as the second supplier, holding 13.78% of the market.
• Jungheinrich (Germany) has achieved a 9.22% share, positioning itself as a significant player in the industry.
• Mitsubishi Logisnext (Japan) commands a market share of 7.78%, closely trailed by Crown Equipment Corporation (USA) with a share of 7.67%.
• Other significant suppliers include Hyster-Yale (USA) with a market share of 5.67%, Kalmar Cargotec (Finland) with 3.7%, and Anhui-Heli (China) at 3.91%.
• Rounding out the list are Manitou (France) and Hangcha (China), which hold market shares of 3.11% and 3.46%, respectively.

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Revenue of Forklift Suppliers

• In the fiscal year 2020, Toyota Industries Corporation established itself as the foremost lift truck supplier worldwide in terms of revenue, achieving USD 12.67 billion.
• Kion Group ranked as the second-largest supplier, generating a revenue of USD 6.92 billion. Junheinrich AG attained the third position with revenues totaling USD 4.55 billion.
• Crown Equipment Corporation and Mitsubishi Logisnext also ranked prominently among the leading suppliers, with revenues of USD 3.62 billion and USD 3.79 billion, respectively.
• Hyster-Yale Materials Handling reported revenues of USD 2.81 billion, positioning it as a significant player in the market.
• Anhui Forklift Truck Group achieved a revenue of USD 1.93 billion, whereas Manitou and Hangcha Group Co. reported revenues of USD 1.25 billion and USD 1.27 billion, respectively.
• Doosan Industrial Vehicle, with a revenue of USD 0.98 billion, also ranked among the top lift truck suppliers globally.

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Forklift Shipments Statistics

• Africa led the market with a remarkable increase of 34.14%, highlighting the region’s impressive growth in lift truck shipments.
• The Americas closely followed with a significant growth rate of 27.63%, indicating robust market performance throughout North, Central, and South America.
• Asia also showed considerable growth, achieving a year-on-year increase of 24.93%, which reflects the region’s dynamic industrial activities and increasing demand for material-handling equipment.
• On a global scale, lift truck shipments experienced a rise of 24.44%, emphasizing the overall expansion of the international market.
• Oceania noted a 21.1% rise in lift truck shipments, indicating consistent growth in this area.
• Europe saw the smallest percentage (%) increase among the regions analyzed, with a 17.36% growth; however, it still demonstrated positive market momentum in the European sector.

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Forklift Import & Export Statistics

Import

• In 2022, the United States was at the forefront globally in the importation of forklift trucks and other vehicles equipped for lifting or handling, achieving a total import value of USD 4,487.8 million.
• Canada ranked second with imports amounting to USD 1,453.5 million, while Germany’s imports were valued at USD 1,266.4 million.
• The United Kingdom and France also recorded notable import values of USD 1,177.9 million and USD 1,167.3 million, respectively.
• The Netherlands brought in equipment valued at USD 1,131.4 million, while Italy’s imports were recorded at USD 1,037.8 million.
• Other significant importers were Australia with USD 853.7 million, Belgium at USD 789.1 million, and Poland with USD 600.1 million.
• Spain and Mexico trailed behind with import figures of USD 561.1 million and USD 525.4 million, respectively.
• Russia brought in forklift trucks worth USD 505.8 million, while Brazil’s imports were valued at USD 490.5 million.
• Turkey’s import value stood at USD 448.9 million, whereas South Korea’s imports were noted at USD 327.8 million.
• Thailand and Argentina imported machinery valued at USD 258 million and USD 254.1 million, respectively.
• The imports of South Africa were assessed at USD 253.8 million, whereas those of Czechia were valued at USD 251.1 million.
• Chile and Austria recorded import values of USD 245.2 million and USD 218.1 million, respectively.
• Both Taiwan and Indonesia imported approximately USD 216.7 million worth of equipment, while Switzerland’s imports amounted to USD 216.4 million.

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Export

• In 2022, China led the export market for forklift trucks and other trucks equipped with lifting or handling devices, with an export value of USD 6,199.9 million.
• Germany was the second-largest exporter, with exports amounting to USD 3,921.7 million, while the United States secured the third position with exports valued at USD 2,381.7 million.
• Italy and France also played significant roles in this market, exporting equipment worth USD 1,860.6 million and USD 1,423.5 million, respectively.
• Additionally, the United Kingdom and Japan were noteworthy exporters, with export values of USD 1,206.1 million and USD 1,055.7 million.
• Sweden and the Netherlands exported goods valued at USD 1,023.3 million and USD 1,044.7 million, respectively.
• South Korea’s exports amounted to USD 951.4 million, while Ireland and Canada exported USD 579.7 million and USD 778.6 million worth of forklift trucks and related equipment.
• Other notable exporters included Belgium with USD 560.9 million, Mexico with USD 410.9 million, and Poland with USD 327.1 million.
• Czechia’s exports were valued at USD 317.2 million, and Spain’s exports totaled USD 245 million.
• Austria and Finland reported export values of USD 196.8 million and USD 177.9 million, respectively.
• Vietnam (USD 136.5 million), Denmark (USD 86.3 million), and the United Arab Emirates (USD 84.7 million) were also significant exporters.
• India’s export value reached USD 67.7 million, while Taiwan’s was USD 63 million.

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Forklift Accident Statistics

• The most recent estimates from the Occupational Safety and Health Administration indicate that annually. Between 35,000 and 62,000 injuries are associated with forklifts.
• 36% of fatalities involving forklifts are pedestrians.
• Approximately 42% of all fatal accidents with forklifts occur due to being crushed by the vehicle during a tipping incident.
• According to the U.S. Bureau of Labor Statistics, 9,050 forklift-related injuries in 2017 were severe enough to necessitate employees taking time off work. This figure decreased to 7,940 in 2018.
• Data from the National Safety Council indicates that there were 78 fatalities resulting from forklift accidents in 2020.
• Roughly 11% of forklifts are involved in some form of accident each year, with a total of 855,900 forklifts operating in the United States alone.
• Forklift accidents occurring in warehouses represent 30% of all forklift-related incidents.
• The manufacturing sector accounts for the highest percentage of forklift fatalities at 42.50%, followed by the construction industry at 23.80%.
• Annually, forklift accidents that lead to serious injuries total 34,900.
• Non-serious injuries related to forklift incidents amount to 61,800 each year.
• Between 2022 and 2023, OSHA documented 205 forklift-related accidents, with 128 of these resulting in fatalities.

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Forklift Accident Cost Statistics

• The typical expense associated with workers’ compensation claims amounts to $41,003 USD.
• The standard cost for a forklift safety violation is $13,494 USD.
• Repairing a damaged forklift can incur costs that reach into the thousands of dollars.
• The financial impact of ‘lost time’ due to an injured employee’s absence from work.
• The economic loss from ‘lost productivity’ caused by a forklift that is not operational on the production floor.

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Recent Developments

• In August 2024, Crown Equipment Corporation inaugurated a sales and service facility in New Albany, Ohio. This new establishment is anticipated to provide material handling and warehouse solutions to clients in the vicinity. Additionally, the facility will equip regional businesses with essential equipment and services aimed at enhancing productivity and uptime, thereby ensuring that their material handling operations and supply chains remain both efficient and effective.
• UN Forklift introduced five new models at LogiMAT 2025 in March 2025, which include robust rough-terrain hydrostatic forklifts as well as agile three-wheel electric machines. This expansion of products addresses various warehouse and outdoor handling requirements, thereby enhancing the company’s global competitiveness and enabling it to fulfill the needs of multi-environment logistics.
• In order to enhance ergonomics and visibility, PALFINGER introduced a modular, center-seat truck-mounted forklift at Bauma 2025 in May 2025. This modular design allows for faster adaptation to various loading needs, providing advantages to the construction and shipping industries.

Conclusion

The global forklift market has demonstrated steady growth. Driven by a rising demand for effective material handling solutions across various sectors. Between 2018 and 2032, both production and market volume have experienced substantial increases. With prominent companies such as Toyota Industries Corporation and Kion Group at the forefront of the market.

The retail and e-commerce industries, especially in the Asia Pacific, North America, and Europe, have significantly contributed to this expansion. The uptake of electric forklifts has also surged due to their ecological advantages. In summary, the forklift market is poised for continued growth, bolstered by technological innovations and the expansion of e-commerce.

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