Australia Forklift Truck Market
Growing need for expansion of warehouse space and rising e-commerce business in Australia has significantly augmented the demand for forklift truck replacement and bulk investment in purchase of electric forklift trucks for warehouse operations. In recent years, there has been a considerable shift away from internal combustion to electric powered forklifts. In a market of Australia where electric equipment is highly developed, more opportunity exists for a shift towards the benefit of these products. Moreover, Australia has witnessed significant growth in the industrial property market over the past few years, with greater interest by property and real estate investors to invest in business parks and logistics. For instance, new Industrial facilities across the eastern seaboard are 33% bigger than they were in 2012, with the average size of new industrial facility nationally around 14,000 Sqm. Growing investment for developing industrial sector and logistics in Australia is anticipated to drive the growth of forklift trucks market in Australia.
Goldstein Research analyst forecast the Australia forklift truck market to grow at a CAGR of 7.48% during the period 2016-2024. Further, the Australia forklift truck market is predicted to reach USD 2.86 billion by the end of forecast period.
Covered in this Australia Forklift Truck market report
The report covers the present ground scenario and the future growth prospects of the Australia forklift truck market for 2016-2024 along with the total sales of forklift trucks in every region. We calculated the market size and revenue share on the basis of revenue generated from the sales of forklift trucks to various end user industries across the Australia.
Australia Forklift Truck Market Segmentation
By Product Type
- Class I (Electric Motor Rider Trucks)
- Class II (Electric Motor Narrow Aisle Trucks)
- Class III (Hand Rider Trucks)
- Class IV (IC Engine Trucks, solid/Cushion Tires)
- Class V (IC Engine Trucks, Pneumatic Tires)
- Class VI (Electric and IC Engine Tractors)
- Class VII (Rough Terrain Forklift Trucks)
By Fuel Type
By End Users
- Paper Industry
- Ports and Logistics
- Radio Active Waste
- Automobile Industry
- Iron and Steel Industry
- Food and Beverages
- Wood Industry
- Northern Australia Forklift Truck Market
- Eastern Australia Forklift Truck Market
- Western Australia Forklift Truck Market
- Southern Australia Forklift Truck Market
On the basis of product type, Class I (Electric Motor Rider Truck) accounted for the highest revenue share of 22% in Australia forklift truck market owing to its high productivity and cost efficiency. Further, the Class I forklift trucks are projected to dominate the Australia forklift truck market with a CAGR of 7.72% over the forecast period.
Australia Forklift Truck Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the Australia forklift truck market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Australia forklift truck market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Our Australia forklift truck market report comprises of the following companies as the key players in the Australia forklift truck market: Toyota Industries Corporation, Crown, MANITOU, Clark, Linde, Hyster-Yale, Mitsubishi, Jungheinrich AG, Hyundai and Heli Co. Ltd.
According to our Australia forklift truck market study on the basis of extensive primary and secondary research, one of the major trends that driving the growth of forklift truck market is leasing and used forklift trucks. During the 2015, the rental fleets in Australia has replaced about 1,800 old forklifts with a little over 3,500 new forklift trucks. Australian short-term forklift rental market has been at record-high utilization and this trend is expected continue in coming years.
According to the report, major driver in Australia Forklift Truck market is the growing e-commerce business which has successfully triggered the need for large warehouse spaces and faster logistic services. As e-commerce logistic models develop, they will push the huge changes in physical distribution networks. This will give rise to a new class of logistics and distribution properties such as Mega e-fulfillment centers, parcel hubs and delivery centers, which will augment the demand for forklift trucks in these facilities.
Further, the report states that one challenge in Australia forklift truck market is the presence of global market players which acquire more than 90% of the global forklift truck market share. The forklift truck market is highly competitive, and market players in the market compete by providing manually operated forklift trucks to fully automated warehouses. The presence of big market players with huge R&D investments on their products created the highly competitive market for the new and small market players.
Australia accounted for the USD 1.60 billion revenue in forklift truck market in 2016. The Australian forklift truck market is majorly occupied by the Toyota motors which accounted for more than 34% market share for electric forklifts and more than 40% market share for IC engine forklifts in Australia forklift truck market. Battery-electric forklifts will become a much stronger force in the forklift truck market as the industry is moving towards a more environmentally sustainable outlook.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Key questions answered in this Australia forklift truck market report
- What is the total market size by 2024 and what would be the expected growth rate of sales?
- What are the total sales in 2015-16 (Units) and what would be the expected demand over the forecast period?
- What are the key market trends?
- What are the factors which are driving this market?
- What are the major barriers to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities for the existing and entry level players?
- What are the recent developments and business strategy of the key players?
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