The global forklift trucks market is on an upward trajectory, with a significant rise in value projected from US$ 53.07 billion in 2024 to US$ 102.87 billion by 2033, reflecting a CAGR of 7.49% during the forecast period 2025–2033. This growth is primarily fueled by electrification and automation trends across North America, Europe, and Asia-Pacific. The market is witnessing a surge in demand for battery-powered trucks, with lithium-ion models gaining popularity due to falling cell prices and increased productivity. E-commerce expansion, government incentives for low-emission vehicles, and the need for increased efficiency in the face of labor shortages are key drivers of this market growth. Class I electric counterbalance forklifts are at the forefront of this market evolution, with their energy efficiency, cost savings, and environmental advantages making them essential in global fleets. These electric models are displacing diesel counterparts and are becoming the backbone of warehouse operations worldwide. Additionally, the adoption of advanced energy storage solutions like lithium-ion batteries is driving innovation, offering improved energy efficiency and operational performance. Hydrogen fuel cells are also making strides in the market, with companies like Plug Power witnessing growth in shipments despite infrastructure challenges. Overall, the forklift trucks market is poised for a resilient and profitable future, with stakeholders finding ample opportunities for growth and innovation. The industry is embracing sustainability, technological advancements, and operational efficiency to meet the evolving demands of the global economy.