Market Overview: Global Forklift Parts Trade Embraces New Opportunities

July 2025 marks an unprecedented transformation in the global forklift parts supply chain. 

According to the latest market research, the global forklift market is projected to grow from $72.59 billion in 2024 to $154.99 billion by 2030,
representing a compound annual growth rate (CAGR) of 13.7%. 

This robust growth creates tremendous business opportunities for international forklift parts suppliers and procurement professionals.

Asia-Pacific Region Leading Global Supply Chain Dynamics

The Asia-Pacific region's position in the global forklift parts supply chain is becoming increasingly crucial. 

In 2024, the Asia-Pacific region captured 50.49% of the global forklift market share, establishing itself as the largest regional market. 

This dominant position provides regional parts manufacturers and suppliers with exceptional development advantages.

Chinese Manufacturing Excellence

China, as a major forklift parts manufacturing and export powerhouse, demonstrates strong competitiveness in international markets:

• Production Scale Advantages:

  Companies like Anhui Leading Forklift Parts Co., Ltd. maintain 10,000 square meters of warehouse space with inventory exceeding 85,000 parts

• Complete Technical Certifications:

  Major suppliers hold international certifications including ISO and BV, ensuring product quality meets global standards

• Strategic Geographic Location:

  Located within 30 minutes of Shanghai Port, providing convenient logistics conditions for international trade

Aftermarket Parts Demand Surges

Electrification Transformation Drives Parts Upgrade

As the global forklift electrification trend accelerates, the parts market structure is undergoing profound changes:

• Electric Forklift Share Increases:

  Electric forklifts are expected to capture approximately 72% of the market

• Lithium Battery Parts in High Demand:

  Lithium-ion batteries with 1-2 hour charging time and 2,500+ cycles drive related parts demand growth

• Emerging Technology Parts:

  AI and IoT technology integration creates new parts requirements

Traditional Parts Market Maintains Steady Growth

Despite the clear electrification trend, traditional internal combustion engine forklift parts market remains stable:

• Engine Components:

  Diesel and gasoline forklifts retain important positions in heavy-duty applications

• Transmission System Parts:

  Gearboxes, differentials, and transmission components maintain consistent demand

• Hydraulic System Parts:

  Core components like hydraulic pumps, cylinders, and valves show stable demand

New International Trade Trends

Supply Chain Localization and Diversification

In 2025, international forklift parts procurement professionals increasingly focus on supply chain diversification and localization:

• Near-sourcing Trends:

  Reducing logistics costs and delivery times

• Supplier Diversification:

  Minimizing single-supplier dependency risks

• Quality Standard Enhancement:

  Stricter requirements for parts quality and certifications

Digital Trading Platform Emergence

Digitalization is reshaping forklift parts trading models:

• Online Procurement Platforms:

  B2B platforms like Made-in-China.com become primary procurement channels

• Supply Chain Transparency:

  Digital platforms enable full supply chain traceability

• Intelligent Matching Systems:

  AI technology helps buyers and sellers precisely match requirements

Key Application Sector Analysis

Logistics and Warehousing Industry Drives Demand

The rapid development of e-commerce and third-party logistics (3PL) serves as the primary driver for forklift parts demand:

• Warehouse Automation:

  Distribution centers require efficient, reliable forklift parts

• 24/7 Operations:

  Continuous operations increase reliability requirements for parts

• Maintenance Efficiency:

  Fast repairs and parts replacement become operational priorities

Manufacturing Industry Upgrades Create New Opportunities

Industry 4.0 and manufacturing upgrades inject new vitality into the forklift parts market:

• Smart Manufacturing:

  Automated production lines demand higher precision forklift parts

• Green Manufacturing:

  Environmental regulations drive electric forklift parts demand

• Customization Requirements:

  Special application scenarios require specialized parts solutions

Core Factors for Procurement Professionals

Quality and Certification

For international procurement professionals, quality certification is the primary consideration when selecting suppliers:

• International Standard Certifications:

  ISO9001, CE, UL certifications are essential

• Product Traceability:

  Complete production records and quality traceability systems

• Quality Assurance:

  Comprehensive quality assurance and after-sales service systems

Supply Capability and Delivery

Stable supply capability and timely delivery form the foundation of cooperation:

• Inventory Management:

  Adequate inventory ensures timely supply

• Production Capacity:

  Scalable production capability to meet large-volume orders

• Logistics Network:

  Complete international logistics systems ensure on-time delivery

Technical Support and Services

Professional technical support and service capabilities become competitive advantages:

• Technical Consultation:

  Professional parts selection and application guidance

• Custom Development:

  Customized parts solutions based on customer requirements

• Training Support:

  Product usage and maintenance training for customers

Market Prospects and Opportunities

Growth Drivers

Multiple factors drive continuous growth in the forklift parts market:

• Industrialization Process:

  Emerging market industrialization drives forklift demand growth

• E-commerce Logistics:

  Global e-commerce development boosts logistics equipment demand

• Environmental Requirements:

  Strict environmental regulations drive equipment upgrades

• Technology Innovation:

  New technology applications create new parts demand

Emerging Market Opportunities

Latin America, Southeast Asia, and other emerging markets provide new opportunities for parts suppliers:

• Infrastructure Development:

  Large-scale infrastructure projects drive equipment demand

• Manufacturing Relocation:

  Global manufacturing layout adjustments create new demand

• Localized Services:

  Proximity service capabilities become competitive advantages

Key Market Players and Developments

Major OEM Partnerships

Leading OEMs continue to drive market innovation:

• KION Group:

  Partnered with NVIDIA and Accenture in January 2025 for AI-powered supply chain optimization

• Hyster Company:

  Launched the E80XNL electric forklift with lithium-ion battery in July 2024

• Toyota Industries:

  Maintains market leadership through continuous innovation

Aftermarket Supplier Ecosystem

The aftermarket ecosystem includes diverse players:

• Tier 1 Component Suppliers:

  Direct OEM suppliers

• Tier 2 Players:

  Specialized component manufacturers

• Battery Providers:

  Lithium-ion and lead-acid battery suppliers

• Telematics Providers:

  Digital solution providers

Technology Integration Trends

Automation and AI Integration

Industry 4.0 technologies are transforming the forklift parts landscape:

• Autonomous Systems:
  Self-driving forklifts require advanced sensor and control components

• Fleet Management:
  IoT-enabled parts monitoring and predictive maintenance

• Digital Twin Technology:
  Virtual modeling for parts optimization

Sustainability Focus

Environmental considerations are driving market evolution:

• Battery Technology:
  Lithium-ion advantages in efficiency and lifecycle

• Recycling Programs:
  Circular economy approaches to parts management

• Carbon Footprint Reduction:
  Sustainable manufacturing and logistics practices

Conclusion

July 2025 finds the global forklift parts supply chain undergoing profound transformation.
The Asia-Pacific region, particularly China, occupies a crucial position in this transformation, providing international procurement professionals with high-quality, cost-effective parts options.
Toomotoo.com, as a professional forklift parts supplier, leverages comprehensive product lines,
strict quality control, and premium services to provide optimal forklift parts solutions for global customers, contributing to healthy industry development.

Facing new market opportunities and challenges, we will continue strengthening technological innovation,
improving supply chain systems, and providing more professional and efficient services to international partners,
creating a bright future for the forklift parts industry together.

Reference Sources

• Grand View Research: Forklift Market Size, Share & Growth Report

• Markets and Markets: Forklift Market Analysis & Forecast 2032

• Global Market Insights: Forklift Market Statistics Report 2025-2034

• Fortune Business Insights: Forklift Trucks Market Report

• Mordor Intelligence: Global Forklift Trucks Market Analysis

• Straits Research: Global Forklift Market Report

• Made-in-China.com: Forklift Spare Parts Market Data

• Shanghai Handavos International Trading Co., Ltd.

• Leading Forklift Parts Company Market Analysis

• Aftermarket Forklift Parts Australia

• Forklift-International.com European Market Data