Cherry Picker Forklift Market size is poised to cross USD 82 billion by the end of 2035, growing at a CAGR of 8% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of cherry picker forklift was USD 41 billion. The major element to boost the market expansion is the growing demand for fruits. 47% of people consume one or more servings of fruits daily in the world. This growth in fruit demand is owing to rising health concerns among people. According to the World Health Organization, low fruit and vegetable consumption is responsible for around 16 million (1.0%) DALYs and 1.7 million (2.8%) deaths globally. Hence, this is also estimated to boost the growth of the market since fruits need to be harvested.
A cherry picker was originally designed to harvest cherries. The person using it can stand on the big platform for prolonged movement, which is a benefit over employing a ladder. The level of safety and effectiveness is significantly increased when a cherry picker is used in place of a ladder. Avocados, apples, and mangoes are a few fruits that can be picked using a cherry picker forklift.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~ USD 41 Billion |
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Forecast Year Market Size (2035) |
~ USD 82 Billion |
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Regional Scope |
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Type (Internal Combustion Engine, Electric Motor, Diesel Forklift, Electric Forklift)
The internal combustion engine segment is anticipated to hold 50% share of the global cherry picker forklift market during the coming years. Internal combustion engine operates with the help of fuel, unlike electric folks who work on electricity. Even though many organizations are looking forward to an electric forklift, the demand for internal combustion engines will remain the same and grow in the future since it is easy to operate and employees are profound in handling them. Also, in order to operate and handle forklift battery the need for skilled workers are necessary. Hence, organization prefer to stick with internal combustion engines.
End-Use Industry (Industrial, E-Commerce & Logistics)
Cherry picker forklift market from the e-commerce & logistics segment is expected to garner the largest share of about 65% by the end of 2035. The growth of the segment is expected to rise on the back of rising e-commerce activity. Currently, there are about 3 billion online buyers all across the world. This equates to approximately 34% of the population globally. Hence, in order to handle products safely and transport them to respective locations in use of cherry picker forklifts is growing.
Our in-depth analysis of the global market includes the following segments:
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Type |
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End-Use Industry |
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APAC Market Forecast
The cherry picker forklift market in Asia Pacific is poised to garner the highest share of about 40% over the projected period. The major factor to dominate the market expansion in this region is the growth in the number of warehouses. In 2021, the full-year new logistics capacity for Asia-Pacific was projected to increase by about 57 percent over the preceding three years, to approximately 166 million square feet. Large warehouses frequently use indoor cherry picker forklifts. Pickers and packers in warehouses must typically collect and order from great heights. They are able to do this securely while connected to the platform owing to a cherry picker. Hence, the market share is expected to grow in this region.
North American Market Analysis
The North America cherry picker forklift market is also projected to have significant growth during the forecast period. There has been large number of buildings and structure in North America which require maintenance and remodeling. As consequence, the adoption for cherry picker forklift is anticipated to rise.
Author Credits: Harshita Srivastava, Saima Khursheed
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