The UAE forklift market is
anticipated to grow at a steady CAGR in the forecast period, 2024-2028. Factors
such as the growing popularity of the e-commerce industry and the ongoing
advancements in technology are driving the demand for the UAE forklift market.
Also, the flourishing construction industry of the country and the adoption of
automation technologies in the manufacturing process are expected to create
huge demand for forklifts in the coming years.
Flourishing E-Commerce
Industry Drives the Market Growth
UAE is the leading e-commerce
industry in the Gulf Cooperation Council (GCC) states. The Dubai Chamber of
Commerce and Industry has forecasted the e-commerce industry to generate $8
billion in sales by 2025. The high internet penetration and proliferation of
smart devices are accelerating the popularity of the e-commerce industry across
the country. Market players provide additional facilities to consumers,
including doorstep delivery, exchange option, and payment mode flexibility,
among others, attracting consumers to buy through the online sales channel. The
increased online shopping demand is boosting the warehouse and logistics
industry. The market players operating in the e-commerce industry are working
on lowering the delivery time, which is expected to accelerate the demand for
forklifts among consumers. The growing demand for shopping through the online
channels by the consumers and the adoption of advanced technologies and
equipment by the market players to improve services are expected to propel the
UAE forklift market growth over the next five years.
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Technological Advancements
Supports the High Market Demand
The construction and
automotive industry are evolving at a rapid pace and are adopting novel
technologies and modern handling equipment, which is expected to boost the
market demand. The logistics industry is driving the demand for advanced
forklifts for efficient inventory movement. Narrow-aisle forklifts, pallet
stackers, counterbalance forklifts are some of the advanced versions of
forklifts that are witnessing massive demand among the end-use industries.
Forklift manufacturers are continuously investing in research and development
activities to improve the performance and efficiency of forklifts. Advancements
in technology and the launch of advanced forklifts in the market are expected
to attract prominent industry verticals to invest in the purchase of forklifts.
Growing Construction Industry
Fuels the Market Demand
UAE set to invest $3.2bn in
development projects by 2023. The government is working on developing
transportation and road infrastructure and is allocating substantial funds to
support the infrastructure activities. UAE has lined up a number of
transportation and road infrastructure projects, including the $5.9 billion
proposed hyperloop project between Dubai and Abu Dhabi, the $11 billion Etihad
Rail, the $2.7 billion Sheikh Zayed double-deck road project, and many more.
Also, over 11,000 new houses are being constructed by the government of the
UAE, which is to be handed over as soon as the completion of the project.
Forklift plays a major role in completing the with accuracy and efficiency.
They act as weight-carrier to carry large equipment and products during the
construction job, which ensures the safety of the workers. A large number of
ongoing construction activities is expected to create lucrative growth
opportunities for the UAE forklift market for the next five years.
Market Segmentation
The UAE forklift market is
segmented into tonnage
capacity, class, type, propulsion, end use, regional distribution, and competitive landscape. Based on tonnage
capacity, the market is divided into less
than 5-ton, 5-15 ton, 16-25 ton, and above 25 ton. Based on class, the market
is divided into class 1, class 2, class 3, class 4, class 5, and others. Based
on type, the market is divided into three-wheel and four-wheel. Based on
propulsion, the market is bifurcated into ICE and electric. Based on the end
use, the market is divided into port facility, logistics, construction,
municipality, and others. To analyze the market based on the
region, the UAE forklift market is studied in major regions namely Dubai, Abu
Dhabi, Sharjah, and Rest of the UAE.
Market Players
EP Equipment, VMECH
Industrial Equipment L.L.C, Jungheinrich AG, Komatsu Ltd., Kion Group AG, are
the major market players operating in the UAE forklift market.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 – 2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
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Revenue in USD Million, Volume in Units, and CAGR for 2018-2022
and 2023-2028
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Report coverage
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Revenue forecast, volume forecast, company share, competitive
landscape, growth factors, and trends
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Segments covered
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Tonnage Capacity
Class
Type
Propulsion
End Use
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Regional scope
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Dubai, Abu Dhabi, Sharjah, Rest of UAE
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Key companies profiled
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EP Equipment, VMECH Industrial Equipment
L.L.C, Jungheinrich AG, Komatsu Ltd., Kion Group AG
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Customization scope
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10% free report customization with purchase. Addition or
alteration to regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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Report Scope:
In this report, UAE forklift
market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- UAE Forklift Market,
By Tonnage Capacity:
- Less than 5 ton
- 5-15 ton
- 16-25 ton
- Above 25
- UAE Forklift Market, By Class:
- Class 1
- Class 2
- Class 3
- Class 4
- Class 5
- Others
- UAE Forklift Market, By Type:
- UAE Forklift Market, By Propulsion:
- UAE Forklift Market, By End Use:
- Port Facility
- Logistics
- Construction
- Municipality
- Others
- UAE Forklift Market, By Region:
- Dubai
- Abu Dhabi
- Sharjah
- Rest of UAE
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in UAE forklift market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
UAE forklift market is an upcoming
report to be released soon. If you wish an early delivery of this report or
want to confirm the date of release, please contact us at [email protected]