![]() ![]() This counterweight averages 3,000 to 5,000 lbs. Forklifts typically require a counterweight to balance out the heavy loads carried on the fork. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR. By: Dustin Eusebio on AugThe average weight of a forklift is about 9,000 lbs, about three times the weight of an average automobile. ![]() China, the world's second largest economy, is forecast to reach a projected market size of US$11.6 Billion by the year 2030 trailing a CAGR of 6.7% over the analysis period 2022 to 2030.Īmong the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 4.6% respectively over the 2022-2030 period. is estimated at US$11.2 Billion in the year 2022. Market is Estimated at $11.2 Billion, While China is Forecast to Grow at 6.7% CAGR Taking into account the ongoing post pandemic recovery, growth in the Electric segment is readjusted to a revised 6.2% CAGR for the next 8-year period. Internal Combustion Engine (ICE), one of the segments analyzed in the report, is projected to record 5.2% CAGR and reach US$41.5 Billion by the end of the analysis period.
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