The global forklift market has reached a milestone of $35 billion in 2025, representing 15% year-over-year growth. This robust growth reflects increasing demand from e-commerce, logistics, and manufacturing sectors worldwide.
Market Breakdown:
• Electric forklifts: 42% of market share
• Internal combustion forklifts: 38% of market share
• Propane forklifts: 12% of market share
• Other fuel types: 8% of market share
The Asia-Pacific region continues to dominate the global forklift market, accounting for 48% of total sales, driven by rapid industrialization and infrastructure development in China, India, and Southeast Asian countries. North America follows with 28% market share, while Europe holds 20%.
Key growth drivers include the expansion of e-commerce fulfillment centers, the push for warehouse automation, and increasingly stringent environmental regulations promoting electric forklift adoption. Industry analysts forecast continued growth through 2026, with electric forklifts expected to exceed 50% market share by 2030.
