The global forklift market is projected to grow at a CAGR of 1.93%, from USD 16.00 billion in 2016 to USD 17.61 billion by 2021. The base year for the report is 2015 and the forecast year is 2021.The global market is driven by the less than 5 ton capacity forklifts which accounts for major market share in terms of volume. The less than 5 ton capacity majorly includes battery-electric forklifts as well as Internal Combustion Engine (ICE) forklifts but the battery-electric forklifts penetration in this segment is highest.
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