Dublin, Nov. 28, 2019 (GLOBE NEWSWIRE) -- The "Demand Outlook for Fork Lift Trucks in India by 2025: Electrifying Growth Ahead" report has been added to ResearchAndMarkets.com's offering.

This research report aims to extrapolate the emerging demand for fork lift trucks by quantifying the underlying expansion in the economic activity across manufacturing, logistics and other sectors that influence demand for fork lift trucks in India. The report will also outline the product need gap, trends in going electric on fork lift trucks and the anticipated innovation in the industry, to provide better product that can be operated with ease.

Hyper growth in sectors like retail, e-commerce, manufacturing, warehousing and logistics has led to fast paced growth in the demand for forklifts in material handling. Forklift Trucks have an important role in industries to handle material movement from one place to another.

Almost all the industrial segments including automobile, chemical, fertilizer, pharma, glass, steel, ferro-alloys rubber etc. are extensively using forklifts equipment for their material handling needs. From a classification perspective, the entire range of forklifts can be segregated into three categories i.e. Light duty (1 to 3 tonne), Medium duty (4 to 8 tonne), and Heavy duty (10 tonne and above capacity).

In India, light duty forklifts with the load capacity of 1 ton to 3 ton are dominating sales volumes as there have been many SME companies operating in the country, however a trend of medium duty forklifts is anticipated to be seen over the next few years. The push to go electric came into fork lift trucks much before it was even talked about in the auto sector, as the demand for pollution free greener forklifts has been increasing in the country with companies & industries becoming conscious about environmental impacts of diesel forklifts.

Players in the forklift industry are offering products with a focus on operator comfort, safety and ultimately productivity in mind. Products are designed to be more reliable, efficient and service friendly. Currently, AC drive forklifts are becoming popular as they reduce the maintenance and increase the operational uptime. New emerging product types of battery operated electric forklifts are gaining momentum in the country. Electric forklifts are now available with many special attachments for specific applications with lower cost of ownership. Customers have started preferring electric forklifts over diesel variants.

The growing attractiveness of the fork lift truck market in India has drawn attention from of lot of MNC companies that were vying for a piece of market share. Recently, the Italian company KION's Indian forklift truck brand, Voltas, joined hands with the long-established Italian brand OM in India. It is anticipated many such collaborations, M&As and expansion will happen in the sector and that will be a win win for the end use industry segment as the industry will get to see innovation in new product launches. Demand for forklifts from the rental market has seen growing regularly.

The growth of rental market has been more aggressive than what it had been 4-5 years back. Earlier the market was limited with small rental companies which were moreover localized and the fleet was utilized to make temporary arrangement to meet peak loads and stop-gap arrangements to meet the delivery schedule till the purchased equipment could be deployed. But now the scenario is changing due to OEMs providing complete solutions to the industry, including rental services.

Forklifts up to 5 tonne capacity are the major selling segment and contribute to almost 85 per cent of the total requirements. Though this segment will continue to be the major growth driver, a considerable growth in heavy-duty forklifts segment is anticipated, due to an increase in import/export activities and exponential growth in ICDs.

Companies Mentioned

• KION
• OM
• Voltas

Key Topics Covered

1. Executive Summary

2. Approach & Methodology

3. Fork Lift Truck Market Landscape
Key OEMs
Application landscape
Sales & Distribution

4. Fork Lift Trucks Product Portfolio of OEMs

5. Fork Lift Trucks Product Technical Performance Benchmarking

6. Fork Lift Trucks Avg Selling Price by different OEMs

7. Fork Lift Trucks Market Size in 2017-18
Market by OEMs
Market by capacity rating
Light Duty (1-3 tonne)
Medium Duty (4-8 tonne)
Heavy Duty (10 tonne and above)
Market by end user application industry
Market by fuel type [Diesel, Dual Fuel, Electric]
Market by Regions
Market by direct sales vs channel sales
Market by rental sales vs captive sales
Market by domestic vs imports

8. Factors that influence customer preference [Rental & Captive Buyers]
Brand recall
Operational Availability
By Fuel type
Ease of after Sales Service
Cost of Operations (fuel efficiency)
Cost of Maintenance

9. Sector Driving Demand for Fork Lift Trucks
Growth in Warehouse
Growth in Logistics
Growth in Ports
Growth in C&F
Growth in ICDs

10. Penetration of Electric Fork Lift Trucks in India Market across sector
Replacement of diesel forklift trucks by electric forklift trucks

11. Procurement Practice across end use industry segments

12. Emerging sector that are likely to use forklift trucks

13. Innovation in Fork Lift Segment & Industrialization in Indian Market
Hydrogen Cell based Fork Lift

14. Sector Specific Fork Lift Performance Score Card
Overall Availability
Cost of Operations
Cost of Maintenance

15. Projecting Demand for Fork Lift by 2025
Avg number of forklift trucks across different sector
Growth in industry segments using fork lift trucks
Component of fork lift trucks in green field or brown field projects in sectors using fork lift trucks
Scenario based demand simulations (BAU, Optimistic, and Pessimistic)

16. Product / Solution Positioning of different OEMs to win market share
Training Centre

17. Need Gap analysis in the product
Interviews with the operator

18. M&A, Market Entry Opportunities

For more information about this report visit https://www.researchandmarkets.com/r/1y4hlx

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