Report Overview

Egypt Forklift Truck Market – Industry Trends & Forecast Report, 2031

Egypt Forklift Truck Market size was estimated at USD 0.62 billion in 2024. During the forecast period between 2025 and 2031, Egypt Forklift Truck Market size is projected to grow at a CAGR of 19% reaching a value of USD 2.1 billion by 2031. Prominent drivers of the market include rapid industrial growth, expansion of e-commerce, increasing construction activities, and rising demand for advanced material handling solutions. The surge in online retail has prompted significant investments in forklifts to enhance warehouse efficiency and inventory management. Companies are adopting versatile and sustainable equipment, such as CLARK Material Handling’s SE25-35 forklift that runs on 48V lead-acid or 80V lithium-ion batteries and supports both indoor and outdoor operations. The growing integration of automation in logistics is also fueling demand, as businesses seek flexible and rugged solutions to streamline operations. Forklift trucks play a vital role in various sectors, including manufacturing, construction, and food & beverages, where they are essential for lifting and transporting heavy materials. Their adaptability and cost-efficiency make them an attractive option for companies looking to improve operational efficiency and reduce overheads. With the increasing focus on productivity, safety, and automation, the Egypt forklift truck market is poised for steady growth over the coming years.

Forklift Truck – Overview

A forklift truck is a powered industrial vehicle designed to lift, move, and transport materials over short distances. Commonly used in warehouses, manufacturing plants, and construction sites, it features a hydraulic lifting mechanism and forks that slide under pallets or other heavy loads. Forklifts come in various types, including electric, diesel, and gas-powered models, each suited for specific environments. They are essential for efficient material handling, enabling faster operations and reducing manual labor. Forklifts enhance workplace productivity and safety when operated by trained personnel and are a crucial component in logistics, warehousing, and industrial supply chain operations.

Egypt Forklift Truck Market

Growth Drivers

Expansion of E-commerce and Logistics

The rapid rise of e-commerce in Egypt is significantly accelerating the demand for warehouse automation and efficient logistics solutions, thereby driving the growth of the forklift truck market. As businesses strive to meet rising consumer expectations for faster delivery, the adoption of automated systems—particularly forklift trucks—has become essential for streamlining warehouse operations. Forklifts enhance storage efficiency, reduce retrieval time, and support high-density inventory management, ultimately boosting overall productivity. Additionally, automation helps lower labor costs and addresses workforce shortages by minimizing the need for manual handling. With features like sensors and navigation systems, modern forklifts also improve workplace safety and operational precision. As companies expand to handle growing inventory volumes, the integration of advanced forklift solutions is becoming a vital component of scalable and efficient logistics strategies.

Challenges

High Initial Investment

The substantial upfront cost associated with purchasing and deploying forklift trucks, especially advanced or automated models, poses a significant barrier to market growth in Egypt. Small and medium-sized enterprises often struggle to allocate sufficient capital for such investments, limiting their ability to upgrade or automate material handling operations. Additionally, the cost of maintenance, training, and infrastructure further adds to the financial burden. As a result, many businesses delay adoption, thereby slowing the overall expansion of the forklift truck market in the region.

Impact of Escalating Geopolitical Tensions on Egypt Forklift Truck Market

Escalating geopolitical tensions could significantly impact the growth of Egypt Forklift Truck Market. These tensions often disrupt global trade routes, delay the import of key components, and cause fluctuations in fuel prices, all of which directly affect the cost and availability of forklift trucks. Political instability in nearby regions may also lead to currency volatility, increased tariffs, and tighter regulations, creating an uncertain business environment. Additionally, manufacturers and logistics providers may hesitate to invest in large-scale equipment due to perceived risks, slowing market expansion. Such challenges can hinder supply chain efficiency and delay infrastructure projects, further restraining forklift demand in Egypt.

Egypt Forklift Truck Market

Segmental Coverage

Egypt Forklift Truck Market – By Power Source

Based on power source, Egypt Forklift Truck Market is divided into Electric Forklifts, Internal Combustion Engine Forklifts, and Hybrid & Hydrogen Fuel Cell Forklifts segments. The electric forklifts segment holds the highest share in Egypt Forklift Truck Market by power source. It is driven by their eco-friendly nature and lower operating costs compared to internal combustion engine (ICE) models. Advancements in battery technology, particularly the growing preference for safer and more efficient lithium-ion batteries over traditional lead-acid options, are further boosting their adoption. Additionally, electric forklifts require less maintenance, making them a cost-effective choice for businesses. With a global shift toward sustainability, many countries are phasing out ICE forklift sales, reinforcing the dominance of electric models in the market.

Egypt Forklift Truck Market – By Class

Egypt Forklift Truck Market by class is divided into Class I, Class II, Class III, Class IV, Class V, Class VI, and Class VII segments.

Egypt Forklift Truck Market – By End User

On the basis of end-user, Egypt Forklift Truck Market is segmented into Logistics & Warehousing, Manufacturing, Construction, Retail & Wholesale, and Ports & Airports.

Competitive Landscape

Major players operating in Egypt Forklift Truck Market include GB Corp (Ghabbour Group), Mansour Group, Manufacturing Commercial Vehicles (MCV), EIM Group (Egyptian International Motors), Toyota Industries Corporation, KION Group AG, Jungheinrich AG, Hyster-Yale Materials Handling Inc., Crown Equipment Corporation, Hangcha Group Co. Ltd, Doosan Corporation, and Clark Material Handling Company. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Power Source

• Electric Forklifts

• Internal Combustion Engine Forklifts

• Hybrid & Hydrogen Fuel Cell Forklifts

By Class

• Class I

• Class I

• Class II

• Class III

• Class IV

• Class V

• Class VI

• Class VII

By End User

• Logistics & Warehousing

• Manufacturing

• Construction

• Retail & Wholesale

• Ports & Airports

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Egypt Forklift Truck Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Expansion of E-commerce & Logistics
         2. Industrial & Infrastructure Development
         3. Shift Towards Electric Forklifts
      2. Restraints
         1. High Initial Investment
         2. Fluctuating Raw Material Prices
      3. Opportunities
         1. Adoption of Hydrogen Fuel Cell Forklifts
         2. Government Initiatives & Incentives
      4. Challenges
         1. Skilled Labor Shortage
         2. Economic Volatility
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Egypt Forklift Truck Market: Marketing Strategies
5. Egypt Forklift Truck Market: Pricing Analysis
6. Egypt Forklift Truck Market Overview
   1. Market Size & Forecast, 2019–2031
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Power Source
         1. Electric Forklifts
         2. Internal Combustion Engine Forklifts
         3. Hybrid & Hydrogen Fuel Cell Forklifts
      2. By Class
         1. Class I
         2. Class I
         3. Class II
         4. Class III
         5. Class IV
         6. Class V
         7. Class VI
         8. Class VII
      3. By End User
         1. Logistics & Warehousing
         2. Manufacturing
         3. Construction
         4. Retail & Wholesale
         5. Ports & Airports
7. Competitive Landscape
   1. List of Key Players and Their End Users
   2. Egypt Automotive Retail Company Market Share Analysis, 2024
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
8. Impact of Escalating Geopolitical Tensions on Egypt Forklift Truck Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. GB Corp (Ghabbour Group)
   2. Mansour Group
   3. Manufacturing Commercial Vehicles (MCV)
   4. EIM Group (Egyptian International Motors)
   5. Toyota Industries Corporation
   6. KION Group AG
   7. Jungheinrich AG
   8. Hyster-Yale Materials Handling Inc.
   9. Crown Equipment Corporation
   10. Hangcha Group Co. Ltd
   11. Doosan Corporation
   12. Clark Material Handling Company
   13. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents
    5. Assumption & Limitation

*Financial information of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1   Egypt Forklift Truck Market Segmentation

Figure 2   Egypt Forklift Truck Market Value Chain Analysis

Figure 3   Company Market Share Analysis, 2024

Figure 4   Egypt Forklift Truck Market Size, By Value (USD Million), 2019–2031

Figure 5   Egypt Forklift Truck Market Share, By Power Source, By Value (USD Million) 2019–2031

Figure 6   Egypt Forklift Truck Market Share, By Class, By Value (USD Million) 2019–2031

Figure 7   Egypt Forklift Truck Market Share, By End User, By Value (USD Million) 2019–2031

List of Tables

Table 1      Egypt Forklift Truck Market Share, By Power Source, By Value (USD Million) 2019–2031

Table 2      Egypt Forklift Truck Market Share, By Class, By Value (USD Million) 2019–2031

Table 3      Egypt Forklift Truck Market Share, By End User, By Value (USD Million) 2019–2031

Table 4      GB Corp (Ghabbour Group) Company Overview

Table 5      GB Corp (Ghabbour Group) Financial Overview

Table 6      Mansour Group Company Overview

Table 7      Mansour Group Financial Overview

Table 8      Manufacturing Commercial Vehicles (MCV) Company Overview

Table 9      Manufacturing Commercial Vehicles (MCV) Financial Overview

Table 10    EIM Group (Egyptian International Motors) Company Overview

Table 11    EIM Group (Egyptian International Motors) Financial Overview

Table 12    Toyota Industries Corporation Company Overview

Table 13    Toyota Industries Corporation Financial Overview

Table 14    KION Group AG Company Overview

Table 15    KION Group AG Financial Overview

Table 16    Jungheinrich AG Company Overview

Table 17    Jungheinrich AG Financial Overview

Table 18    Hyster-Yale Materials Handling Inc. Company Overview

Table 19    Hyster-Yale Materials Handling Inc. Financial Overview

Table 20    Crown Equipment Corporation Company Overview

Table 21    Crown Equipment Corporation Financial Overview

Table 22    Hangcha Group Co. Ltd Company Overview

Table 23    Hangcha Group Co. Ltd Financial Overview

Table 24    Doosan Corporation Company Overview

Table 25    Doosan Corporation Financial Overview

Table 26    Clark Material Handling Company: Company Overview

Table 27    Clark Material Handling Company Financial Overview