Forklift Seats Market Trend, Share, Growth, Size, Analysis and Forecast 2032

Forklift Seats Industry Prospective:

The global forklift seats market size was worth around USD 64.90 billion in 2023 and is predicted to grow to around USD 187.33 billion by 2032 with a compound annual growth rate (CAGR) of roughly 12.50% between 2024 and 2032.

Request Free Sample

Forklift Seats Market: Overview

A forklift seat is a vital component of a forklift. It is one of the few essentials installed in forklifts that are meant for the safety of the operator. Forklifts are not equipped with shock absorbers unlike cars and other vehicles. Thus a comfortable forklift seat is the only equipment that protects the operator against the impact of jolts and bumps that may occur when the machine is in motion. A forklift is an industrial machinery. It is used in industrial facilities for moving goods from one location to another over short distances. Depending on the design, certain brands of forklifts have a dedicated space for the operators to sit. In recent times, forklifts have become extremely crucial components in an industrial setting, especially in facilities that deal with large numbers of commodities. These tools offer several advantages including improved work efficiency and reduced risk of physical harm to the human workforce. Moreover, the growing innovation in forklift design and performance is leading to more demand for comfortable seating options. The forecast period is expected to witness higher growth since the number of industrial facilities across sectors such as automotive and e-commerce are on the rise. Moreover, the surging introduction of new forklift seats with higher comfort and protection levels may also impact the overall market growth trend.

Key Insights:

• As per the analysis shared by our research analyst, the global forklift seats market is estimated to grow annually at a CAGR of around 12.50% over the forecast period (2024-2032)
• In terms of revenue, the global forklift seats market size was valued at around USD 64.90 billion in 2023 and is projected to reach USD 187.33 billion, by 2032.
• The market is projected to grow at a significant rate due to the growing number of supermarkets and retail shops
• Based on the application, the small lift trucks segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on the type, the mechanical suspension seat segment is anticipated to command the largest market share
• Based on region, Asia-Pacific is projected to dominate the global market during the forecast period

Request Free Sample

Forklift Seats Market: Growth Drivers

Growing number of supermarkets and retail shops will drive the market growth rate

The global forklift seats market is expected to benefit from the increasing investments in the construction of new and substantially sized supermarkets or retail stores. The growing urbanization rate has fueled the demand for all-in-one stores such as hypermarkets and supermarkets. These facilities house several types of products and commodities. They also offer an excellent number of options and cost benefits. Supermarkets are a popular choice for ordinary buyers for purchasing everyday essentials since most facilities offer discounted prices. Additionally, supermarket or retail chain brands are also targeting remote areas by opening new facilities as the disposable income of people in remote locations is steadily rising. Forklifts are commonly used in such facilities for transporting products within the facility or during procurement. In March 2024, Naivas Supermarket, a leading chain of store retailers in the Kenyan market, launched its 103rd store and the second one in 2024. As per company claims, Naivas plans to open 5 outlets by the end of 2024. In January 2024, Australia announced the launch of a new probe in the regional supermarket sector. The probe will focus on pricing review and work toward countering the growing imbalance in the regional industry. In November 2023, India’s leading supermarket retail market Reliance Retail was reported to be investing in opening several Smart Bazaar stores in the rural areas of the country. Additionally, the increasing expenses on international collaborations and launches of new store brands may also benefit the demand for forklift seats.

Rising demand for worker safety in industrial premises may generate high market revenue

Forklift seats mainly provide the necessary comfort and protection to operators who are driving highly powerful mechanical equipment. Since forklifts lack the shock absorption attribute, the operator is at a higher risk of physical injuries. In recent times, there has been significant growth in the number of rules and regulations demanding worker safety, especially when handling industrial machines and equipment. For instance, in a recent event, Siemens Gamesa Renewable Energy was fined £533,334 by officials for neglecting the Work at Height Regulations 2005 in the UK. Such measures for the prevention of workplace accidents will drive the demand for the global forklift seats market. In another recent event, Saint-Gobain Construction Products UK Limited was handed over a fine of £500,000 along with an additional cost of £9,453 for exposing a worker to hand-arm vibration risks.

Forklift Seats Market: Restraints

Increasing demand for seatless forklifts may limit the market’s expansion rate

The global industry for forklift seats is expected to be restricted due to the growing demand for seatless versions. Forklifts are of two main types. One of the types accommodates a seating space for the operator while the other type is an automatic solution. It does not require human intervention for operation. In April 2024, Walmart, a retail giant with an international presence, launched 19 autonomous forklifts across 4 distribution centers. The new equipment is provided by Fox Robotics and the machines use artificial intelligence (AI) for operations.

Forklift Seats Market: Opportunities

Rising launch of more advanced forklifts may generate growth opportunities for the market players

The global forklift seats market is expected to generate growth opportunities due to the growing launch of novel forklifts with enhanced features and larger applications. In July 2023, Nissan Motors announced the launch of a new series of forklift titled AGRES. The equipment follows a well-balanced approach as it emphasizes low-cost operation, environmental protection, and original safety equipment devices for the betterment of the drivers. The electric forklift segment is highly likely to deliver the most expansive growth opportunities for the producers of forklift seats. In October 2023, Hyundai Construction Equipment India launched new models of electric forklift. The new generation consists of 3T and 2.5 T capacity. They were developed in Hyundai Global’s research and development center located in South Korea. In the same month, Toyota Material Handling launched a novel line of electric pneumatic forklifts with 80V and 48V models.

An increase in the construction of e-commerce warehouses holds high expansion possibilities

The demand for forklifts is expected to further gain revenue due to the growing construction of new e-commerce warehouses. The rising access to consumer electronics and smart digital systems has helped generate a larger consumer base for online shopping. E-commerce channels offer several advantages, especially in terms of developing a broader consumer reach. In May 2024, Amazon, one of the world’s most dominant players in the e-commerce industry, announced an investment of INR 1600 crore in the Indian market to promote the regional e-commerce sector. Forklifts are essential equipment in large warehouses thus the surge in investment in e-commerce can also prove beneficial for the global forklift seats market.

Forklift Seats Market: Challenges

High competition in the industry may challenge the market expansion rate

The global forklift seats industry is expected to be challenged by the presence of a large number of players operating in the market. Additionally, the industry is also plagued by the circulation of low-cost solutions manufactured by unregistered or unorganized players. This creates challenges for the official brands as market fragmentation intensifies.

Forklift Seats Market: Segmentation

The global forklift seats market is segmented based on application, type, and region.

Based on the application, the global market segments are container forklifts and small lift trucks. In 2023, the highest growth was observed in the small lift trucks segment due to greater application across growing industries. They have outdoor and indoor usage thus leading to higher revenue. Godrej Material Handling, in April 2020, announced the launch of a three-wheel Bravo Forklift Truck in an electric variant for the 1.6 to 2-tonne segment.

Based on the type, the global market divisions are air suspension seat and mechanical suspension seat. In 2023, the demand was the highest in the mechanical suspension seat segment since their variants are more cost-friendly. Air suspensions offer higher comfort but have higher prices associated with them. Basic air suspension seats may cost around USD 250 to USD 700 and hence mostly installed in expensive forklifts.

Forklift Seats Market: Report Scope

Forklift Seats Market: Regional Analysis

Asia-Pacific is the leading revenue generator as per market projections

The global forklift seats market is dominated by Asia-Pacific. During the forecast period, it will continue to lead the global market revenue. Asia-Pacific has extensive demand for forklifts driven by the growing use of machinery across end-user industries. Moreover, the region is also filled with several influential players delivering high-end to more affordable categories of forklifts. China, for instance, was the leading supplier of forklift in 2023 as per official data. In 2020, it accounted for nearly 40% of global industrial trucks as per World Industrial Truck Statistics (WITS). In December 2023, the KION Group launched a new forklift truck plant in China thus expanding its presence in the material handling sector. The facility covers a total area of 2,400,000 square feet. Furthermore, China also leads the electric vehicle (EV) segment. The rise in the number of EV forklifts could trigger a market for mechanical and air suspension seats. Currently, the regional market is also filled with several low-cost providers of forklift seats. Europe is projected to become a significant revenue generator. The growing production of modern forklifts and increasing focus on workplace safety will fuel the regional market demand.

Forklift Seats Market: Competitive Analysis

The global forklift seats market is led by players like:

• Hako Group
• Pilot Seating
• DuraSeat
• Sears Seating
• Concentric International
• Be-Ge Seating
• UnitedGroup
• Tusk Seats
• Seats Inc.
• Grammer
• Industrial Seats
• Milsco Manufacturing
• KAB Seating
• Summit Seating and Isringhausen.

The global forklift seats market is segmented as follows:

By Application

• Container Forklifts
• Small Lift Trucks

By Type

• Air Suspension Seat
• Mechanical Suspension Seat

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa