Global Forklift Markets to Exceed $124B by 2030 on Double-Digit CAGRs
Electric forklift sales will rise from $72.1B in 2025 to $80.4B in 2026 at an 11.5% CAGR, hitting $124.2B by 2030. Forklift batteries will grow from $27.1B to $38.5B by 2030 at a 7.5% CAGR, with total forklift trucks set to reach $105.6B by 2030.
1. Electric Forklifts Market Growth
The global electric forklifts market is forecast to climb from $72.12 billion in 2025 to $80.42 billion in 2026 at an 11.5% CAGR, reaching $124.23 billion by 2030. Growth is driven by e-commerce expansion, warehouse automation, lithium-ion battery adoption and sustainability mandates, expanding the addressable market for manufacturers.
2. Forklift Battery Segment Trends
The forklift battery market is projected to expand from $27.08 billion in 2025 to $38.5 billion by 2030 at a 7.5% CAGR. Key drivers include advanced lithium-ion technologies, rapid charging solutions and shifts toward domestic production, which bolster supply chain resilience and reduce operating costs.
3. Forklift Truck Market Outlook
Global forklift truck sales are set to grow from $73.34 billion in 2025 to $78.55 billion in 2026 at a 7.1% CAGR, reaching $105.59 billion by 2030 at a 7.7% CAGR. Rising demand for autonomous forklifts, electric pallet trucks and smart fleet management across warehousing and construction sectors underpins this expansion.