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Forklifts in the US Procurement Price, Data and Insights
Forklifts are industrial vehicles with power-operated pronged platforms that can be raised or lowered to move materials. Forklifts are a type of industrial truck and include truck-type pallet movers, forklift stackers, straddle carriers, boom lifts, and loading and engine hoists. Buyers of forklifts include construction firms, manufacturers, transportation companies, and warehousing companies.
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What’s included in this market coverage
IBISWorld's research coverage on the Forklifts procurement and pricing environment in the United States includes market dynamics, buyer power scores, supply chain vendors with pricing trends and forecasts.
About this Market
What’s this procurement report about?
This procurement coverage of the Forklifts market in the United States includes Boom Lifts, Engine Hoists, Forklift Stackers, Straddle Carriers, Truck-Type Pallet Movers, Counterbalance Forklifts, Forklift Stackers, Order Pickers, Reach Trucks and Rough Terrain Forklifts. Standard coding in this coverage includes HS-8427-Fork-Lift And Other Works Trucks; Fitted With Lifting Or Handling Equipment, ISIC-2816-Manufacture of lifting and handling equipment, NACE-28.22-Manufacture Of Lifting And Handling Equipment, NAICS-333920-Material handling equipment manufacturing and UNSPSC-24101603-Forklifts.
What common market terminology is included?
Common market terminology included in the Forklifts procurement coverage includes Cushion Tires (Tires made of solid rubber and generally used for indoor forklift applications. Electric forklifts designed for indoor work generally have cushion tires.), Pneumatic Tires (Tires inflated with compressed air that are generally used for outdoor forklift applications. Gasoline or diesel forklifts typically have pneumatic tires.), Solid Pneumatic Tires (Tires that combine the solid-rubber construction of cushion tires with the rough terrain capabilities of pneumatic tires. These tires are used primarily for outdoor environments with high risk of popping regular pneumatic tires.), Electric Forklifts (Forklifts that are powered by a battery. Electric forklifts are best used for indoor lifting because they produce zero emissions, which is a healthy option for workers in a confined space.), Internal Combustion (IC) Forklifts (Forklifts that use a traditional engine that runs on fuel. Of IC forklifts, only propane-fueled forklifts can be used indoors and require good ventilation, whereas gasoline and diesel-powered forklifts cannot be used indoors at all.) and Lithium-Ion Battery (Electrochemical storage devices composed of negative and positive electrodes, a porous separator, and an electrolyte.).
What companies are included as top suppliers?
The top companies covered in the Forklifts procurement report as suppliers are Komatsu Ltd, Mitsubishi Heavy Industries Ltd., Caterpillar Inc., BYD Company Limited and The Raymond Corporation.
Opportunity Assessment
What’s included in the Opportunity Assessment chapter?
The Opportunity Assessment chapter provides a comprehensive market analysis of the Forklifts market in the United States category, including buyer power scoring, market pricing trends, vendor landscape, cost structure, and strategic negotiation levers.
The market pricing trends include the Market Price (2026) per forklift, a five year price forecast and a supply chain risk score. Vendor coverage includes a market share and cost structure breakdown.
Analysis includes a comprehensive SWOT analysis of and recent developments impacting the Forklifts market environment.
Buyer Power Score
What’s included in the Buyer Power Score chapter?
The Buyer Power Score chapter assesses key components impacting Forklifts procurement including the recent price trend, forecast price trend, availability of substitutes, switching costs, product specialization, average vendor risk, market share concentration, supply chain risk, price driver volatility and recent price volatility.
These components generate a Buyer Power Score that ranges from -5 (strongly favoring sellers) to +5 (strongly favoring buyers) plus a recommended strategy for procurement specialists.
Price Environment
What’s included in the Price Environment chapter?
The Price Environment chapter covers detailed pricing analysis and datasets on Forklifts market environment. This includes insights into market pricing Market Price (2026), price forecasts, volatility, specialization, substitutes and switching costs.
Datasets in the Price Environment chapter include vendor cost structure, breakdowns of wage rates by geography and specialty, key external economic and labor drivers impacting the market and market pricing models.
Supply Chain & Vendors
What’s included in the Supply Chain & Vendors chapter?
The Supply Chain & Vendors chapter covers the concentration, risk and diversity of the Forklifts market. This includes datasets on the market’s top suppliers, detailed analysis on the key sourcing risks and supply chain dynamics, with environmental, social and governance (ESG) considerations and scores.
Business Requirements
What’s included in the Business Requirements chapter?
The Business Requirements chapter covers vendor relationships, qualifications, service level agreements and key performance indicators. These inputs provide insight into the planning process through the buying lead time, vendor relationship and vendor qualifications. The sourcing process include key RFP elements like an organizational overview, project budget, selection criteria, project schedule, proposal format, inventory control, cost containment, regulation, quality control, distribution and key contract clauses.
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Frequently Asked Questions
What is the current market price for Forklifts?
The 2026 benchmark market price for Forklifts is $5580 per forklift. Prices have increased at a CAGR of 1.86 from 2023-26.
Who are the top vendors in the Forklifts market?
The top vendors in the Forklifts market include Komatsu Ltd, Mitsubishi Heavy Industries Ltd., Caterpillar Inc., BYD Company Limited and The Raymond Corporation.
What industries supply the Forklifts market?
The top industries supplying the Forklifts market are Battery Manufacturing in the US, Inorganic Chemical Manufacturing in the US, Industrial Machinery & Equipment Wholesaling in the US, Battery Manufacturing in the US, Engine & Turbine Manufacturing in the US, Tire Manufacturing in the US and Rubber Product Manufacturing in the US.
What is the supply chain risk for Forklifts?
Financially unstable vendors increase risk of service disruption. High financial risk among suppliers threatens contract continuity and delivery reliability. Buyers should conduct thorough financial due diligence and consider performance guarantees or phased payment schedules. To protect against insolvency-related disruptions, backup vendors or contract exit clauses are advised.
What factors affect the price of Forklifts?
The condition of a forklift—whether new, used, or refurbished—significantly impacts pricing. New forklifts command higher prices due to warranty coverage and the latest technology, while used or refurbished models offer cost savings but may require additional maintenance.
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