Adoption of propane-powered lift trucks in the food and beverage industry is expected to drive market growth during the forecast period. The food and beverage industry is constantly evolving, and companies in this sector must ensure that materials are transferred continuously within manufacturing and warehouse facilities. As a result, material handling equipment in food processing operations must have as little downtime as possible. In this scenario, propane-powered forklifts outperform electric forklifts because they provide 100 percent power throughout the operation. Furthermore, propane-powered forklifts emit fewer emissions than diesel-powered lift trucks, which contributes to their widespread use in the food and beverage industries.
As the demand for forklift trucks grows, manufacturers are focusing on various strategies such as partnerships and acquisitions to broaden their customer base and strengthen their position in the global forklift truck market. The global Forklift Trucks Market is divided into five regions: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa (LAMEA). Due to high demand for forklift trucks from emerging economies such as China, Japan, and India, the Asia Pacific market is expected to hold the largest market share among all of these regions. Furthermore, in terms of orders and shipments, Europe has the second largest market share in the global forklift truck market, trailing only North America.
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