Saudi Arabia Forklift Market Size, Growth, Demand | Forecast 2025-2033

Saudi Arabia Forklift Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Growth Rate: 13.1% (2025-2033)

The Saudi Arabia forklift market is witnessing steady growth, driven by the expanding logistics, construction, and industrial sectors across the country. According to the latest report by IMARC Group, the Saudi Arabia forklift market size reached USD 653.31 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 2,237.41 Billion by 2033, exhibiting a growth rate (CAGR) of 13.1% during 2025-2033.

Saudi Arabia Forklift Industry Trends and Drivers:

The forklift market in Saudi Arabia is experiencing consistent growth. With an increased demand coming from the construction (a pillar of Vision 2030) and the logistics sectors (another pillar of Vision 2030), the use of forklifts has consistently risen in demand. Ongoing mega developments like PHASE 1 of NEOM, the Red Sea project (mega developments underway called with continued developments to come) and rapid urbanization are leading to a growing demand for forklift use on construction sites and warehousing sites alike within Saudi Arabia. Simultaneously, the explosion of e-commerce and development of logistics hubs like Riyadh and Jeddah are fueling demand for materials handling equipment to help move more product that is entering larger inventories and storage capacity. Forklift manufacturers are bringing electric and hybrid models that would provide sustainable, adaptable and cost-effective solutions for those modern warehouses. In addition to forklift growth, the Kingdom's desire to enhance supply chain effectiveness in improving its ability to become a top 10 global logistics hub will also work with this forklift growth into the future.

Sustainability is a growing trend in the forklift market as companies are now purchasing electric forklifts to improve emissions for environmental compliance. Technological developments and advances in telematics and automated guided vehicles are increasing efficiencies and safety in the warehouse. The recent government policy direction towards industrial localization is supporting local manufacturing and maintenance, resulting in jobs and less import dependency. While this is positive sentiment, there remains challenges with high up-front costs and limited operators. Investment in logistics infrastructure, industrial parks and related will continue to spur the market for material handling equipment including forklifts. As Saudi continues its urbanization and economic diversification, the forklift market will be contributing factor in the industrial growth of Saudi Arabia.

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Saudi Arabia Forklift Industry Segmentation:

The report has segmented the market into the following categories:

Class Insights:

• Class 1
• Class 2
• Class 3
• Class 4/5

Power Source Insights:

• ICE
• Electric

Load Capacity Insights:

• Below 5 Ton
• 5-15 Ton
• Above 16 Ton

Electric Battery Insights:

• Li-ion
• Lead Acid

End User Insights:

• Industrial
• Logistics
• Chemical
• Food and Beverage
• Retail and E-Commerce
• Others

Regional Analysis:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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