Having increased its rate of employment throughout Ceylan Group by 50% during the pandemic, Ceylift also continues its rapid production in the period of Covid. It continues to expand in the national and global markets by its electric and diesel-fueled forklifts, which are first ever local manufactures in Turkey.

Upon analysis of certain markets, the data by PS Market Research suggests that the share of the e-commerce sector in the total global retail sales reached 14% in 2018, rising significantly from 2017. Further, by 2021, almost 17% of the total retail sales across the world are expected to be made through online shopping channels. This is because such platforms offer customers the price flexibility and fast delivery service they are looking for.

This factor is expected to propel the global forklift market, which garnered $33,878.7 million revenue in 2019, to $42,519.4 million by 2030, at a 2.8% CAGR between 2020 and 2030. This is because, to meet the rising number of online shopping orders, e-commerce and logistics firms are focusing on increasing their operational efficiency by deploying such vehicles. In addition, with the shelf height increasing and aisle width decreasing at warehouses, new forklifts, especially designed for such constraints, are witnessing rising sales.

Like companies across various other sectors, forklift manufacturers are also subject to the ill-effects of the COVID-19 situation. Due to the ceasing of manufacturing activities, companies offering forklifts as well as their components would need to alter their strategies and come up with a more-efficient supply chain model. The ripple effects of the current shutdown in several countries are expected to be witnessed till at least the entire 2021.

Sources;

https://www.prnewswire.com/news-releases/2-8-cagr-forecasted-in-global-forklift-market-by-2030-ps-intelligence-301256596.html

https://www.psmarketresearch.com