Saudi Arabia’s forklift trucks market is experiencing steady growth, with the market valued at $632 million in 2024 and projected to reach $912.1 million by 2033, according to IMARC Group. This expansion, estimated at a compound annual growth rate of 4.16% from 2025 to 2033, is fueled by rising industrial activity, infrastructure projects, and the expansion of logistics and warehouse facilities.
Key drivers include the adoption of electric forklifts, which are gaining popularity due to their lower emissions, reduced maintenance costs, and quieter operation. These align with the Kingdom’s Vision 2030 goals to promote sustainability and reduce carbon emissions. Government incentives are further encouraging companies to shift toward electric and automated material handling equipment.
Another significant trend is the integration of automation and robotics in forklift operations, as industries seek to boost productivity and efficiency in logistics and manufacturing.
The market is segmented by:
- Product type (counterbalanced and warehouse forklifts)
- Technology (electric and internal combustion)
- Class (I-V)
- Application (industrial and non-industrial)
- Region (Northern and Central, Western, Eastern, and Southern)
Recent developments include new government incentives for electric and automated forklifts announced in May 2024, and the launch of advanced electric forklift models tailored for the region in April 2024.
In summary, Saudi Arabia’s forklift trucks market is set for continued growth, driven by industrial expansion, technological advancements, and a strong push toward sustainability.
