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Report
Forklift Seats Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 90 Pages I Mordor Intelligence
The Forklift Seats Market was valued at USD 282 million in 2021 and is expected to reach USD 417 million by 2027, growing at a CAGR of 6.7% during the forecast period 2022-2027.
The COVID-19 pandemic hindered the growth of the forklift seat market, as there were continuous lockdowns and travel restrictions across the world to contain the virus. Major companies suspended their operations in different locations due to the lockdown. This directly impacted the requirement for material handling equipment.
However, the post-pandemic prospects look hopeful for the industry, owing to the projected increase in urbanization, global trade, and rapid development in warehouse management tools, which can ease material handling and warehouse management.
The rising demand for comfort and safety features in material handling vehicles to reduce driver fatigue is likely to enhance the demand for forklift seats. A rise in lower back pain disorders among forklift drivers due to poor seating is likely to increase the demand for comfortable forklift seats. Major forklift seat manufacturers are investing in innovative seating solution, which includes built-in shock absorbers, Hip guards to keep operators in the seat and improve safety.
Forklift Seats Market Trends
Low Air Suspension Forklift Seats Witnessing Growth
The comfortable and ergonomic operation of forklift trucks is the result of innovative technology. Air suspension seats are witnessing major growth in terms of revenue during the forecast period. The low-profile air suspension provides unmatched vibration-absorbing technology in a small package. This means that nearly all types of material handling equipment can be fitted with the premium seat together with its numerous comfort functions. The wide ergonomic cushions, as well as the innovative new combined seat cushion depth and tilt adjustment, give drivers a comfortable and convenient seating position.
Such a seat is fitted with an electric control system that automatically adjusts to the driver's weight. The seat adapts immediately and automatically to the weight of the individual driver, thus materially helping to ease the strain on the spine and vertebrae.
In 2018, Grammer AG introduced a new-generation series of seats based on the MSG 65 and MSG 75 suspension systems with the new S700 seat top for electric and engine forklifts. The seats have advanced features like an active seat climate system that ensures optimum temperatures regardless of exterior conditions. This system removes the driver's body heat and sweat via the upholstery, temporarily storing it in the activated carbon layer located beneath.
Asia-Pacific Dominating the Market
Asia-Pacific dominates the forklift seat market because of the huge need for forklift trucks across the region. The increase in industrialization is one of the factors that are expected to increase in demand for forklift vehicles which in turn is likely to increase the demand for forklift seats. This growth is also a result of the rising demand in developing economies, such as China and India.
The rapid expansion of small and medium-scale industries across the region is likely to surge the demand for forklift vehicles. The expansion of digital services nationwide has promoted the rapid development of e-commerce in Southeast Asia, bringing new business opportunities to start-ups and MSMEs overall.
Followed by Asia-Pacific, North America also holds a notable market share in terms of revenue during the forecast period. Governments across North American regions are supporting the growth of the forklift seat market through various incentives and policies. For instance, The Chicago government regulations are pushing materials handling companies to innovate.
Forklift Seats Market Competitor Analysis
The forklift seat market is dominated by major players like Commercial Vehicle Group, Seat Industries, K&M Manufacturing, Tidd Ross Todd Limited, Be-Ge Group, and Others. The market players are focusing on expanding their product portfolio to augment their revenue share.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Mechanical Suspension Seat
5.1.2 Air Suspension Seat
5.2 Application
5.2.1 Small Lift Truck
5.2.2 Container Forklift
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Commercial Vehicle Group
6.2.2 Be-Ge Group
6.2.3 Seat Industries
6.2.4 K&M Manufacturing
6.2.5 Tidd Ross Todd Limited
6.2.6 Grammer AG
6.2.7 Sears Seating
6.2.8 Pilot Seats
6.2.9 Thomas Scott Seating Ltd
7 Market Opportunity and Future Trends
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