Rapid industrialization and the growing popularity of forklift platform-as-a-service (PaaS) are expected to drive the demand for Turkey Forklift Market in the forecast period, 2023-2027.
According to TechSci Research report, “Turkey Forklift Market By Region, Competition Forecast & Opportunities, 2027”, the Turkey forklift market is expected to grow at a steady rate in the forecast period, 2023-2027. Forklifts are a type of heavy-duty electric lift truck and are powerful. They are used to transfer heavy materials, for example, goods, crates, containers, and other goods, over short distances. Forklifts are in high demand for various applications, including recycling operations, warehousing operations, and dockyards to carry out loading and unloading operations from vehicles. They are powered either by electric batteries or internal combustion engines. Forklifts are generally equipped with a variety of attachments such as grippers or platforms to lower the operation cost and efficiently handle the goods and products. Turkey’s forklift market is driven by technological advancements and growing demand from the logistics industry. The implementation of stringent emission norms and concerns about the growing greenhouse emission level in the environment is driving the demand for electric forklifts.
However, concerns regarding safety while operating forklifts and high initial investment and maintenance costs may restrain the Turkey forklift market growth over the forecast period.
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Turkey forklift market is segmented into tonnage capacity, class, type, propulsion, end use, regional distribution, and competitive landscape.
Based on class, the market is divided into class 1, class 2, class 3, class 4, class 5, and others. Class 3 segment is expected to account for a significant market share in the forecast period, 2023-2027. Class 3 forklifts comprise of tow tractor, pallet stacker, and pallet jack. They witness massive demand from warehouses and distribution centers and have lower base and maintenance costs.
Based on type, the market is divided into three-wheel and four-wheel. Four-wheel forklifts are expected to capture the highest market share in the forecast period as they can easily carry the outdoor work and are more powerful. Four-wheeler forklifts can easily navigate over rough surfaces or gravel. They are more suitable for high-intensity operations and can perform several different tasks according to the requirements of the end-users. Major retail industries prefer four-wheeler forklifts as they can easily carry heavy goods and expensive equipment.
Based on propulsion, the market is bifurcated into ICE and electric. ICE segment is expected to hold the largest market share in the forecast period. These forklifts operate on either diesel, gasoline, compressed natural gas, or liquid propane gas. They are majorly used for outdoor applications and can operate under various different conditions. They require no batteries to recharge. Currently, the majority of the market players are introducing ICE-based propulsion forklifts and are integrating advanced technologies to enhance their function.
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Based on end use, the market is divided into the port facility, logistics, construction, municipality, and others. The Port facility segment is expected to hold a substantial market share in the next five years. Forklifts are used in the port facility for loading the delivery trucks, warehousing, and for transportation of steel and wood shipments.
Major market players operating in the Turkey forklift market are:
- Toyota Industries Corp.
- The KION Group.
- Hyster-Yale Materials Handling Inc.
- Anhui Heli Co., Ltd.
- Komatsu
- Hangcha Group.
- Caterpillar
- Clark Material Handling
- Linde Material Handling
- Simer SAC Metal Sheet Processing & Forklift
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“High-end investments by the market players for research and development activities to find new innovative solutions and upgrade the existing infrastructure are expected to create lucrative growth opportunities for the market players over the next five years. The rapid adoption of advanced technologies such as artificial technology, connected and robotics technology, and the growing popularity of automation technology is driving the demand for next-generation forklifts that have higher connectivity than their previous versions. Also, the developments in the communication industry as they generate real-time insights and ensure higher efficiency are expected to propel the growth of the Turkey forklift market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Turkey Forklift Market By Tonnage Capacity (Less than 5 ton, 5-15 ton, 16-25 ton, Above 25 ton), By Class (Class 1, Class 2, Class 3, Class 4, Class 5, Others), By Type (Three-Wheel, Four-Wheel), By Propulsion (ICE, Electric), By End Use (Port Facility, Logistics, Construction, Municipality, Others), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of Turkey forklift market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Turkey forklift market.
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