New York, NY -- (SBWIRE) -- 10/28/2014 -- Forklift trucks, also known as fork truck, lift truck or forklift, are the type of industrial trucks which are used to lift and move heavy or bulk materials. The first forklift truck was developed in the early 20th century and their sales paced up after the Second World War when every major country started focusing on their industrial development. Nowadays, forklift trucks are being used widely across industries such as manufacturing and warehousing operations.

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Forklift trucks are rated on the basis of their load capacities and forward centre of gravity. Forklift trucks have a load capacity of up to 48 tons and they are 670 inches in height. The ratings of forklift trucks are mentioned on the nameplate of the vehicle provided by the manufacturer. The rating of forklift trucks is the key parameter for their pricing. The growing supply chain activities due to the increasing industry and commerce are key reason for the growth of forklift trucks market globally. The global forklift trucks market can be categorized into two segments namely counterbalance forklift trucks and warehouse forklift trucks. Counterbalance is the most common type of a forklift truck having weight at the rear of the truck offsetting the load to be lifted at the front. Warehouse forklift trucks on the other hand, offer maximum lift height with increased high maneuverability.

Based on technology, forklift trucks market can be segmented as electricity powered forklift truck and internal combustion engine powered forklift truck. Internal combustion forklift trucks are increasing swiftly in Asia Pacific countries due to less strict emission norms. On the other hand, electricity powered forklift trucks are growing at a fast pace in the developed countries due to less emission. The new energy saving forklifts is catching up the market with the increasing demand for energy-efficient machines from the end-user industries.

The global forklift trucks market is also thriving due to the increasing export demands from the developing countries. Among regions, Asia Pacific dominated the global sales of forklift trucks in 2013, followed by Europe. Europe and North America are losing their market share which the being gained by the emerging markets such as Asia Pacific and Middle East. The demand for forklift trucks is increasing at a high pace in the Asia Pacific due to the increasing demand from countries such as China, Japan and India. China’s forklift trucks market is dominated by internal combustion trucks. The demand for forklift trucks in overall Europe has reduced due to the Euro-zone crisis; however, Eastern Europe is witnessing high growth. One of the biggest restraints for the forklift trucks is their high cost, due to which many of the small scale industries prefer to avail their services on rent rather than owning it.

The global forklift trucks market is competitive with the presence of large number of players. The key market players in the global forklift trucks market include Clark Material Handling International Inc., Anhui Forklift Truck Group Co. Ltd., Combilift Ltd., Crown Equipment Crporation, Doosan Industrial Vehicles Co. Ltd., Mitsubishi Caterpillar Forklift America Inc., Hyundai Heavy Industries Co. Ltd, KION, Nippon Yusoki Co. Ltd. and Toyota.

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