In-depth analysis of the US forklift market: sales, popular types and future trends

In-depth analysis of the US forklift market:

sales, popular types and future trends

As key equipment in logistics warehousing and industrial production, forklifts play a vital role in highly developed economies such as the United States.

The US forklift market is not only large in scale but also vibrant, and its development trend has a profound impact on the global forklift industry.

This article will explore the sales performance of the US forklift market, the popular forklift types and the reasons behind them, and look forward to future market trends.

Overview of US forklift market sales

The US forklift market size ranks among the top in the world.

According to Grand View Research data, the US forklift market revenue reached US$9.8441 billion in 2024, and is expected to soar to US$18.3916 billion by 2030, with a compound annual growth rate (CAGR) of 11% during 2025-2030.

From historical data, the US forklift market has also experienced a significant growth phase.

For example, in 2019, statistics from the Industrial Truck Association (ITA) of the United States showed that the sales volume of forklifts in the North American market reached 260,180 units, of which the sales growth rates of electric forklifts and internal combustion forklifts were basically the same, reaching an annual growth rate of 2.8% and 2.7% respectively.

There are many driving factors behind this continued growth in sales.

First, the e-commerce industry in the United States has developed rapidly in recent years.

According to the Comscore report, the sales volume of the US e-commerce market grew strongly to US$1.09 trillion in 2022, an increase of 11% year-on-year.

The prosperity of e-commerce has led to an explosive growth in warehousing and logistics demand, and the demand for forklifts in warehouses and distribution centers has increased significantly, because forklifts are indispensable equipment for efficient cargo handling and storage.

Secondly, the construction industry in the United States has also played a role in promoting forklift sales. From April 2020 to July 2024, construction spending in the United States surged by more than 41%.

In construction projects, forklifts play a key role in both the handling of materials and the movement of equipment, thus stimulating the demand for forklifts.

Types of forklifts popular in the US market and the reasons

Electric forklifts: the first choice for environmental protection and high efficiency

Electric forklifts are popular in the US market and occupy an important position in the market share.

In 2024, electric forklifts will become the power source category with the highest revenue in the US forklift market, and it will also be the fastest growing market segment during the forecast period.

The main reasons for the popularity of electric forklifts are as follows.

First, outstanding environmental performance. With the increase of global environmental awareness, the United States is no exception, and the environmental protection requirements for enterprises in the production process are becoming increasingly stringent.

Electric forklifts have zero tail gas emissions during operation, which can effectively reduce the pollution of indoor and outdoor air. They are especially suitable for indoor warehouses, food and beverage industries, and pharmaceutical industries with high requirements for air quality.

Second, the operating cost is relatively low. Although the initial purchase cost of electric forklifts may be high, its subsequent operation and maintenance costs have advantages. The energy consumption of electric forklifts is mainly electricity, which is cheaper than the fuel used by internal combustion forklifts. In addition, electric forklifts have relatively few parts and a relatively simple structure, and the frequency and cost of maintenance are low.

For example, a 2.5-ton electric forklift with an 80-volt/600-ampere-hour battery consumes 80% of its power after operating for 8 hours, and consumes about 5.3-6 kWh per hour (calculated as 6 kWh). At 1.1 yuan per kWh, the hourly electricity cost is 6.6 yuan; while a diesel forklift consumes an average of 3.5-4 liters of diesel per hour. At 5.5 yuan per liter of diesel, the hourly fuel cost is as high as about 22 yuan.

Third, the operating performance is excellent. Electric forklifts run smoothly and make little noise, which can provide operators with a more comfortable working environment and will not cause too much interference to the surrounding environment. This is especially important in some places with strict noise restrictions. In addition, electric forklifts have good acceleration and braking performance, flexible operation, and can improve the efficiency of cargo handling.

Counterbalanced forklifts: a versatile player with wide application

Counterbalanced forklifts are one of the most widely used types of forklifts at present, and they also occupy an important position in the US market.

The forks of this type of forklift are outside the centerline of the front wheel. In order to overcome the overturning moment generated by the cargo, a counterweight is installed at the tail of the forklift.

The reason why counterbalanced forklifts are popular is their strong versatility.

First of all, they have a high load capacity, ranging from small to large tonnage, which can meet the needs of different industries for cargo handling weight. Whether it is large logistics hubs such as ports and stations, or warehouses and workshops within enterprises, you can see the busy figures of counterbalanced forklifts.

Secondly, counterbalanced forklifts are equipped with pneumatic tires, have a relatively fast running speed, and have good climbing ability, which makes it not only suitable for flat indoor working environments, but also can work normally in some outdoor places with slopes or uneven ground.

Furthermore, its operating range is wide. Forklifts below 3 tons can also operate in cabins, train carriages and containers. The lifting height is generally 2-4 meters, which can meet the needs of cargo loading and unloading and stacking in various scenarios.

Warehouse forklifts: meeting the needs of refined warehousing

Warehouse forklifts are mainly designed for cargo handling in warehouses, including electric pallet trucks, electric pallet stackers, reach trucks, electric picking forklifts and other types.

With the development of the US warehousing industry, the requirements for storage space utilization and cargo handling efficiency are constantly increasing, so warehouse forklifts are favored. For example, the carrying capacity of reach trucks is generally 1.0-2.5 tons, and the door frame can be moved forward or retracted as a whole.

When retracted, the width of the operating channel is generally 2.7-3.2 meters, and the lifting height can reach up to about 11 meters. It is very suitable for medium-height stacking and picking operations in warehouses, and can effectively utilize the vertical space of the warehouse and increase storage density.

Electric picking forklifts are designed for specific working conditions such as supermarket distribution centers. In these places, it is not necessary to ship the entire pallet, but to pick a variety of goods according to the order to form a pallet.

According to the height of the goods to be picked, electric picking forklifts can be divided into low-level picking forklifts (within 2.5 meters) and medium-high-level picking forklifts (up to 10 meters), which can meet the picking needs of goods at different heights and improve picking efficiency.

Future trends of the US forklift market

Trends in intelligence and automation

With the continuous advancement of science and technology, intelligence and automation have become important directions for the future development of the US forklift market. Forklift manufacturers are actively developing and applying intelligent technologies such as automatic driving, remote monitoring, and data analysis.

For example, the unmanned forklifts launched by some companies can achieve autonomous navigation, cargo handling and loading and unloading through preset programs and sensors, greatly improving operating efficiency and accuracy, while reducing the risks caused by human operating errors. Remote monitoring technology can monitor the operating status and fault information of the forklift in real time, making it convenient for maintenance personnel to perform maintenance in a timely manner and reducing equipment downtime.

Data analysis technology can collect and analyze the usage data of forklifts, help companies optimize the scheduling and management of forklifts, and improve overall operational efficiency. It is expected that in the future, intelligent and automated forklifts will occupy an increasingly larger share in the market, meeting the market’s demand for efficient and intelligent logistics equipment.

Continuous development of new energy technologies

(The picture shows FLIFT p-series lithium ion battery forklift: charging 30 mins, work 8 hours.)

In addition to the existing electric forklifts, the US forklift market will also witness the application and development of more new energy technologies in the future.

For example, hydrogen fuel cell forklifts are expected to become a powerful supplement to electric forklifts. Hydrogen fuel cell forklifts have the advantages of short hydrogen refueling time and long cruising range, which can overcome the shortcomings of long charging time of electric forklifts, and are especially suitable for scenes that require long-term continuous operation. In addition, with the continuous advancement of battery technology, the application of lithium batteries in the forklift field will be more extensive and in-depth.

Compared with traditional lead-acid batteries, lithium batteries have the advantages of high energy density, fast charging speed, and long service life, which can further improve the performance and use experience of electric forklifts.

Enhanced service trend

(The picture shows shared forklift, A new concept in the rental forklift industry.)

Forklift manufacturers and service providers will pay more attention to providing a full range of service solutions, including equipment leasing, maintenance, training, etc. Equipment leasing business can provide enterprises with more flexible ways to use forklifts and reduce the initial investment costs of enterprises, especially suitable for some enterprises with seasonal needs or short-term projects. Strengthening maintenance services can ensure the normal operation of forklifts, extend the service life of equipment, and reduce the risk of production stagnation caused by equipment failure. At the same time, providing professional training for operators can improve the skills of operators, ensure the safe and efficient use of forklifts, and enhance customer satisfaction and market competitiveness.

The US forklift market has unique characteristics in terms of sales growth and popular model selection, and has a clear development trend in the future. Whether it is forklift manufacturers, suppliers or related companies, they need to pay close attention to market trends and seize market opportunities to adapt to changing market demands.