India Forklift Market Summary 

India Forklift Market size was valued at USD 4.88 Billion in 2025 and is Expected grow to USD 11.13 Billion by 2032, growing at a CAGR of 12.5% during the forecast period (2026-2032). 

India Forklift Industry Trends and Analytical Insights -

• West India Forklift Market was the largest revenue generating region market accounted approximately 35.7% of market shares in year 2025.

• In 2025, By Lift Capacity, Below 5 tons dominated the India Forklift Market, accounted for 72 % market shares.

• Leading Key players for India Forklift Market in 2025 was Toyota Industries Corporation, KION Group AG, Crown Equipment Corporation, Mitsubishi Logisnext Co., Ltd. and Jungheinrich AG.

Market Size & Forecast

• Market Size 2025: USD 4.88 Billion

• Projected Market Size 2032: USD 11.13 Billion

• CAGR (2025-2030): 12.5%

• West India: Dominated market in 2025

India Forklift Market Overview

The India Forklift Industry demonstrated strong structural growth during 2025 since industrial production rates climbed and industries expanded their storage facilities while they updated their distribution networks. The India Forklift Industry expanded throughout both organized manufacturing facilities and third-party logistics centres which now demand more than 70% of their units for forklifts operating under 5 tons because these sites required light-to-medium material handling capabilities. The deployment of electric forklifts reached about 38-42% because warehouses inside buildings used them and people became more aware of energy costs and workplaces started to reduce their emission levels. The combined forklift installations for warehousing and logistics activities reached about 33 % of total deployments since its large distribution centres and multi-story storage facilities and E-commerce fulfilment centers operate throughout major urban areas of Tier-1 and Tier-2 cities.

Balance forklift trucks were the dominant product category because they serve as the most common end-use equipment but warehouse forklifts included reach trucks and pallet movers have become popular in environments with fast operational speeds. Manufacturing was to drive demand because it uses more than 40% of all forklifts which were primarily used by automotive and electronics and consumer goods industries. The electric forklift market reached a 25% adoption rate of lithium-ion powered forklifts which shows customers now accept higher initial costs because they want to get better performance throughout the product's life. The active forklift fleets in Western and Southern India region accounted more than 55% because these areas contain industrial clusters and operate port-led logistics and maintain advanced warehousing systems.

This extensive analysis by Jadhavar Business Intelligence Pvt Ltd (JBI) provides consumers with a complete and actionable picture of the India Forklift Market, including market size, share, trends, and growth estimates from 2025 to 2032. It provides a complete overview of important locations and countries by Power, Lift Capacity, and Product Power. Clients receive comprehensive market dynamics, business tool analysis (PORTER and PESTLE), a Technology roadmap, and regulatory updates. The study also includes country-specific projections, competitive benchmarking, Company profiles, and M&A activity, all of which aid in strategic planning, market entry analysis, and competitor positioning in India Forklift Industry.

India Forklift Market Dynamics

The India Forklift Industry showed its strongest demand in 2025 due to the country built its logistics facilities at high speed and its warehouse space for Grade-A buildings reached more than 450 million square feet. The production activities required more material handling because automotive and electronics manufacturing facilities maintained their operations between 80-85% of their total capacity. The electric forklift market expanded to more than 40 percent of new indoor forklift installations because companies now focus on saving power and reducing their operational expenses.

The India forklift market of 2025 showed strong demand but businesses faced major obstacles and limitations because forklifts required expensive initial purchases. The price difference between electric forklifts and ICE models reaches 25-35% which prevents small businesses from adopting these vehicles. The safety environment declined because more than 60% of operators operated without official certification which resulted in longer maintenance periods and elevated safety hazards. The non-urban equipment operations face challenges because their after-sales service network operates through multiple independent service providers which decreases their equipment performance and lifetime value.

The year 2025 brought major opportunity to the Indian forklift market because companies started using electrification and automation systems at fast speeds while lithium-ion forklifts achieved more than 30% annual growth for their use in organized warehouse facilities. The growth of OEM investments for local production facilities and rental business strategies enabled more fleet access. The testing of self-driving forklifts under pilot programs has expanded by about 20% at major logistics facilities which shows that material handling systems now depend on technological progress.

Expert Insight:

The India forklift market is entering a structural expansion phase, supported by sustained growth in organized warehousing, manufacturing localization, and logistics modernization. Dominance of below-5-ton and counterbalanced forklifts highlights the market’s preference for versatile, cost-efficient equipment, while accelerating adoption of electric and lithium-ion forklifts signals a long-term shift toward sustainability and lower lifecycle costs. Intensifying competition from global OEMs and cost-competitive Chinese manufacturers, combined with rising automation pilots, is expected to reshape pricing, technology adoption, and service differentiation across the Indian forklift industry during the forecast period.

India Forklift Market Segment Analysis

The India Forklift Market is segmented into by Power, by Lift Capacity, by Product Power and by End Use Industries.

By Lift Capacity

Based on Lift Capacity, India Forklift Industry is segmented into by Below 5 tons, 5-10 tons, 10-20 tons and Above 20 tons. The Below 5 tons segment was the dominant segment in the India Forklift Market during the year 2025, accounted 72% of market share. This leadership was driven by need to handle light-to-medium materials at their warehousing and logistics operations and manufacturing and retail facilities. The quick growth of top-grade warehouses and online order centers and car factories together with the rising use of electric forklifts designed for operations under five tons secured this market segment as the leading choice because of their affordable purchase prices and their ability to adapt to various operational needs and their perfect match for indoor use.

By Product Type,

Based on Product Type, India Forklift Industry is segmented into Counterbalanced Forklift Trucks and Warehouse Forklift Trucks. The​‍​‌‍​‍‌​‍​‌‍​‍‌ Counterbalanced Forklift Trucks segment was the major contributor to the India Forklift Market in 2025 accounted for 65.4% market shares. This dominance was driven by broad applicability across manufacturing, construction, and outdoor material handling, where versatility and load stability are critical. The industry continues to use counterbalanced forklifts because they handle both indoor and outdoor spaces while moving heavy pallets across rough terrain. The machines needed less maintenance and service providers operated throughout all industrial facilities which helped organized facilities and semi-organized facilities to adopt them. The machines operated with minimal upkeep requirements and their service providers reached every industrial facility which helped semi-organized and organized facilities to adopt them.

India Forklift Market Region Analysis

The West India Forklift Market in 2025 was dominant market with approximately 35.7% of market share driven by Maharashtra and Gujarat contained powerful industrial clusters which combined with their dense automotive and chemical and FMCG manufacturing operations and their strategic location near JNPT and Mundra ports that facilitated their substantial material handling needs. Western India established itself as the region with the most electric forklift usage because it developed modern storage facilities and its financial support came from environmental protection initiatives.

South India Forklift Market was at second position accounted for 28% of market share through its established manufacturing networks which spread across Tamil Nadu and Karnataka and Telangana. The area gained from its large number of warehouse forklift truck users who mainly worked in electronic manufacturing and automotive parts production and third-party logistics operations. The North India Forklift Market required forklift equipment which accounted for 22% of total demand because Delhi-NCR expanded its warehousing network and retail distribution centers grew and construction work increased. East India Forklift Market maintained its positions as a developed market it accounted 18% of the market while industrialization progressed slowly and mining operations required transportation systems and construction work continued although the market remained underdeveloped because of present supply chain fragmentation and sluggish modernization efforts.

India Forklift Market Competitive Analysis:

The India Forklift market remained concentrated during 2025 because Toyota Industries Corporation accounted about 24% of all global forklift deliveries. Toyota established its market leadership through its complete range of electric and internal combustion engine products and its dominant position in counterbalance and warehouse forklift manufacturing and its extensive worldwide distribution network which provided outstanding service and maintained customer loyalty for vital industry sectors.

The second-tier companies, comprising KION Group AG, Jungheinrich AG, Crown Equipment Corporation, Mitsubishi Logisnext Co., Ltd., and Hyster-Yale Materials Handling, Inc., together represented over 30% of the market, driven in part by their leadership in warehouse automation and energy-efficient electric fleets. The aggressive growth of Chinese OEMs, namely Anhui Heli Co., Ltd. and Hangcha Group Co., Ltd., intensified competition in the industry, driven by their cost competitiveness and the fast-growing adoption of electric forklift trucks.

India Forklift Market Scope:

Key Players –

• Toyota Industries Corporation

• KION Group AG

• Jungheinrich AG

• Crown Equipment Corporation

• Mitsubishi Logisnext Co., Ltd.

• Hyster-Yale Materials Handling, Inc.

• Anhui Heli Co., Ltd.

• Hangcha Group Co., Ltd.

• Doosan Industrial Vehicle

• Clark Material Handling Company

• Hyundai Material Handling

• EP Equipment

• Combilift

• Lonking Holdings Limited

• Noblelift Intelligent Equipment

• BYD Forklift

• XCMG Group

• Manitou Group

• Ningbo Ruyi Joint Stock Co., Ltd.

• LiuGong Machinery Co., Ltd.

Frequently Ask Questions –

1)    What is driving the growth of the India Forklift Market?

Ans - The growth of the India forklift market is driven by rapid expansion of organized warehousing and logistics infrastructure, rising manufacturing activity in automotive, electronics, and consumer goods, and increasing adoption of electric forklifts for cost efficiency and sustainability. Additionally, the growing rental and leasing model is improving accessibility for SMEs, supporting broader market penetration.

 2)    Which company holds a leading position in the India Forklift Market?

Ans - Toyota Material Handling India holds a leading position in the India forklift market. Its leadership is driven by a strong electric and ICE product portfolio, deep penetration in manufacturing and warehousing, and a robust nationwide dealer and after-sales network, which together deliver high reliability, low lifecycle costs, and strong customer retention across key industrial hubs.

 3)    How is domestic manufacturing influencing the India Forklift Market?

Ans - Domestic manufacturing is positively influencing the India forklift market by reducing equipment costs, improving supply chain reliability, and shortening delivery timelines. Increased localization by global and domestic OEMs has enhanced product customization for Indian operating conditions, strengthened after-sales support, and improved price competitiveness, thereby accelerating forklift adoption across manufacturing, warehousing, and logistics sectors.

 4)    Which segment is growing fastest in the India Forklift Market?

Ans - The electric forklift segment is the fastest-growing segment in the India forklift market. Growth is being driven by rising adoption in warehousing and logistics, lower operating and maintenance costs, and increasing emphasis on energy efficiency and zero-emission indoor operations, particularly within large distribution centers and organized industrial facilities.

 5)    How is technology innovation shaping the India Forklift Market?

Ans - Technology innovation is significantly shaping the India forklift market through rapid adoption of electric and lithium-ion powered forklifts, which offer faster charging, longer operating life, and lower operating costs. Increasing integration of telematics, fleet management systems, and safety automation is improving equipment utilization and reducing downtime, while early deployment of semi-autonomous forklifts in large warehouses is enhancing productivity and operational efficiency.