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Work Trucks

Global demand for work trucks is forecast to expand 3.2% p.a. between 2016 and 2020. Currently, electric work trucks with lifting or handling equipment account for 33.6% of the global demand while the remaining market share is divided between other electric work trucks (1.5%), non-electric work trucks with lifting or handling equipment (51.1%), other work trucks (11.3%) and parts of work trucks (2.4%).

China, Cyprus, Germany, Japan and the United States are considered the highest potential markets in the coming years. China, Germany, Japan, the United Kingdom and the United States represent the largest work truck markets while the strongest annual growth is forecast to occur in Cyprus (21.6%), Philippines (11.2%), Ethiopia (11.0%), China (7.8%) and Bangladesh (6.4%).

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